Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.</li>
<li>Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.</li>
<li>Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.</li>
</ul>


Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.
Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.
Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.


Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

<ul>
<li>Nervous markets overnight with a number of earnings misses adding downside pressure.</li>
<li>Tokyo Metro IPO kicks off today which should see strong demand especially from risk-adverse retail investors.</li>
<li>Tokyo Metro grey market last Y1400 vs Y1200 listing price, although bookrunners are calling higher levels to start.</li>
</ul>


Nervous markets overnight with a number of earnings misses adding downside pressure.
Tokyo Metro IPO kicks off today which should see strong demand especially from risk-adverse retail investors.
Tokyo Metro grey market last Y1400 vs Y1200 listing price, although bookrunners are calling higher levels to start.


Japan Morning Connection: Tokyo Metro IPO Should See Strong Demand

<ul>
<li>Server related names higher after some big sales numbers and new product launches from SMCI should be a positive for Nidec</li>
<li>Watch for P&amp;C weakness in Japan following losses for peers overnight as Hurricane Milton intensifies as it approaches the Florida coast line</li>
<li>Oil back above $80 will continue to push related names higher; possible refiner pair with 4 days of TPX FFW selling for recent outperformer Idemitsu</li>
</ul>


Server related names higher after some big sales numbers and new product launches from SMCI should be a positive for Nidec
Watch for P&amp;C weakness in Japan following losses for peers overnight as Hurricane Milton intensifies as it approaches the Florida coast line
Oil back above $80 will continue to push related names higher; possible refiner pair with 4 days of TPX FFW selling for recent outperformer Idemitsu


Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

Japan Specialist

Mark Chadwick

<ul>
<li>OVERSEAS. Fitch downgrade spurs risk off as S&amp;P 500 and Nasdaq 100 sold off;  US Treasuries sold off as well, but note new Treasury issuance are indeed coming </li>
<li>JAPAN. NKY  Futures -1.1% vs cash; USDJPY 143.4;  Japan had most of the selling yesterday but could see some follow-through;  EARNINGS; TDK, Sumi Elect misses; TOB: Itochu takes CTC private</li>
<li>NUGGET. ANA(9202) to begin offsetting GHG via the purchase of carbon credits. We estimate that if DAC  removes 10% of its emissions, 70% of OP will disappear!  Bears watching. </li>
</ul>


OVERSEAS. Fitch downgrade spurs risk off as S&amp;P 500 and Nasdaq 100 sold off;  US Treasuries sold off as well, but note new Treasury issuance are indeed coming 
JAPAN. NKY  Futures -1.1% vs cash; USDJPY 143.4;  Japan had most of the selling yesterday but could see some follow-through;  EARNINGS; TDK, Sumi Elect misses; TOB: Itochu takes CTC private
NUGGET. ANA(9202) to begin offsetting GHG via the purchase of carbon credits. We estimate that if DAC  removes 10% of its emissions, 70% of OP will disappear!  Bears watching. 


Ohayo Japan|Fitch Downgrade Spurs Global Risk Off; NUGGET: ANA(+JAL) - Direct Air Capture, Not Cheap

<ul>
<li>OVERSEAS. SPX reclaims 4000 level to cose up +1.4%; Nasdaq 100 enters BULL MARKET;  Micron +7% Intel +7.6%  spurs sentiment around Semi recovery. </li>
<li>JAPAN. NKY Futs -0.3% vs Cash; USDJPY ¥132.8;  Dividend x-Date today - expect ~¥1trill of reinvestment BUYING in total; New Toyota CEO vows to get serious about EVs -about time</li>
<li>NUGGET. Incoming CEO Makiko Ono - Set to Further Globalize Suntory Beverage.  If she can execute, stock looks like a bargain. </li>
</ul>


OVERSEAS. SPX reclaims 4000 level to cose up +1.4%; Nasdaq 100 enters BULL MARKET;  Micron +7% Intel +7.6%  spurs sentiment around Semi recovery. 
JAPAN. NKY Futs -0.3% vs Cash; USDJPY ¥132.8;  Dividend x-Date today - expect ~¥1trill of reinvestment BUYING in total; New Toyota CEO vows to get serious about EVs -about time
NUGGET. Incoming CEO Makiko Ono - Set to Further Globalize Suntory Beverage.  If she can execute, stock looks like a bargain. 


Good Morning Japan |NASDAQ BULL MARKET! NUGGET: CEO Makiko Ono-Set to Further Globalize Suntory Bev

Japan

TDK CORPORATION manufactures electronics components such as magnetic tapes and ferrite cores.  The Company also sells power supplies, inductors, transformers, ceramic capacitors, magnets, LAN (Local Area Network) components, sensors, and semiconductors.  TDK markets its products worldwide.

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TDK Corp (6762 JP)

Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

Watch Softbank for weakness as ARM and Qualcomm brought lower by spat, Tesla's strong earnings will buoy EV related, Texas Instruments' positive...

Andrew Jackson

Japan Morning Connection: Tokyo Metro IPO Should See Strong Demand

Nervous markets overnight due to a number of earnings misses. Tokyo Metro IPO expected to see strong demand, especially from risk-adverse retail...

Andrew Jackson

Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...

Andrew Jackson

Ohayo Japan|Fitch Downgrade Spurs Global Risk Off; NUGGET: ANA(+JAL) - Direct Air Capture, Not Cheap

Fitch downgrade spurs risk off; NKY Futures -1.1% vs cash; USDJPY 143.4; Japan likely sees some follow-through on yesterday's sell-off; ...

Mark Chadwick

Good Morning Japan |NASDAQ BULL MARKET! NUGGET: CEO Makiko Ono-Set to Further Globalize Suntory Bev

In the US, NASDAQ 100 enters bull market. Broad based US rally. In Japan, Tech to lead; Drivers today: US rally, weaker yen; Underweight investors...

Mark Chadwick

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Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

Watch Softbank for weakness as ARM and Qualcomm brought lower by spat, Tesla's strong earnings will buoy EV related, Texas Instruments' positive...

Andrew Jackson

Japan Morning Connection: Tokyo Metro IPO Should See Strong Demand

​Nervous markets overnight due to a number of earnings misses. Tokyo Metro IPO expected to see strong demand, especially from risk-adverse retail...

Andrew Jackson

Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

​Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...

Andrew Jackson

Ohayo Japan|Fitch Downgrade Spurs Global Risk Off; NUGGET: ANA(+JAL) - Direct Air Capture, Not Cheap

Fitch downgrade spurs risk off; NKY Futures -1.1% vs cash; USDJPY 143.4; Japan likely sees some follow-through on yesterday's sell-off; ...

Mark Chadwick

Good Morning Japan |NASDAQ BULL MARKET! NUGGET: CEO Makiko Ono-Set to Further Globalize Suntory Bev

In the US, NASDAQ 100 enters bull market. Broad based US rally. In Japan, Tech to lead; Drivers today: US rally, weaker yen; Underweight investors...

Mark Chadwick

Nervous markets overnight due to a number of earnings misses. Tokyo Metro IPO expected to see strong demand, especially from risk-adverse retail...

Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...