Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Thematic (Sector/Industry)

<h2>The Background</h2>The establishment of the <a href="http://www.jpx.co.jp/english/equities/listing/cg/tvdivq0000008jdy-att/20150513.pdf" target="_blank">Japan Corporate Governance Code</a> in 2015 was a beginning step to better governance at stodgy Japanese corporations where boards have often been composed largely of insiders and their friends, financial acuity or expertise of board members was sorely lacking, and treatment of minority shareholders has often been dodgy at best. The Japan Corporate Governance Code ("JCGC") which sets rules regarding whistle-blowing, disclosure, stakeholders’ rights and more, is…

The BackgroundThe establishment of the Japan Corporate Governance Code in 2015 was a beginning step to better governance at stodgy Japanese corporations where boards have often been composed largely of insiders and their friends, financial acuity or expertise of board members was sorely lacking, and treatment of minority shareholders has often been dodgy at best. The Japan Corporate Governance Code ("JCGC") which sets rules regarding whistle-blowing, disclosure, stakeholders’ rights and more, is…

Japan Crossholdings: Japan Exchange's Sale of SGX Shares Sets A Precedent - Watch Closely

Research and consultancy, Tabbush Report

Daniel Tabbush

Research and consultancy

Tabbush Report

We provide research and consultancy on Asian banks. Our focus is on what we call “Asian bank research, without the noise.” We are interested in the most critical swing-factors for banks, the NPL and credit cycle, and where we believe there is a gap between perception and reality. We often focus on the less studied components of bank financial statements.  Our research is highly thematic, sometimes examining unlisted banks and companies as a window on mainstream banks. 

Being independent allows us to look at smaller banks, often overlooked by others. Analysis of BIS bank guidelines in the context of Asia, is also a focal point, while we also analyze global banks operating in the region. We use what we believe is the most comprehensive, reliable financials database, SNL Financial. S&P Capital IQ augments our database, with corporate data and CEIC, with economics. 

Asian bank research, without the noise.

Japan’s three mega banks have made considerable investment outside the country, where returns are generally higher. <a href="https://www.smartkarma.com/entities/218" target="_blank" data-smartkarma-citation="entities:218:1">Mitsubishi UFJ Financial Group (8306 JP)</a> is the most aggressive, now the majority shareholder of one of Thailand’s largest banks, <a href="https://www.smartkarma.com/entities/136" target="_blank" data-smartkarma-citation="entities:136:1">Bank Of Ayudhya Pcl (BAY TB)</a>. All three mega banks have investments in Indonesia, where returns are well higher than Japan. At the same, Japan’s mega banks have sprawling local banking units across most all Asia and elsewhere, including China, Hong Kong…

Japan’s three mega banks have made considerable investment outside the country, where returns are generally higher. Mitsubishi UFJ Financial Group (8306 JP) is the most aggressive, now the majority shareholder of one of Thailand’s largest banks, Bank Of Ayudhya Pcl (BAY TB). All three mega banks have investments in Indonesia, where returns are well higher than Japan. At the same, Japan’s mega banks have sprawling local banking units across most all Asia and elsewhere, including China, Hong Kong…

Japan's Mega Banks at the Bottom of the List

Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

Chart based progressive global trading strategies, Chart Partners

Thomas Schroeder

Chart based progressive global trading strategies

Chart Partners

Chart Partners objective is to discover medium-term cycle turns and profit opportunities before they unfold, within structural trends while preserving capital with clear degrees of risk. We have real return ideas. 

Markets are dynamic and trading systems must reflect this. It is crucial to determine underlying correlations and lead-lag relationships within global markets and the impact on linked instruments. Our weekly Chartonics product gives you short-term trading strategies that can be applied within the medium and longer term macro trends that are mapped out in our strategy updates. 

Our methodology fuses global market variables and isolates drivers in trends. We specialize in FX, index trade in NY and Asia with a focus on Asian stocks. 

Technical Analysis

Mizuho Financial Group / Technical Analysis

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in October 2017 in anticipation of the Japan bank/insurance index breaking through the 200 macro breakout barrier. Currently this index is at 212.86 with much higher levels in store. In fact, Japan banks are just starting a major up cycle that will be gather steam once the USD/JPY clears 114.40.With the Nikkei moving into a frothier zone, Mizuho…

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in October 2017 in anticipation of the Japan bank/insurance index breaking through the 200 macro breakout barrier. Currently this index is at 212.86 with much higher levels in store. In fact, Japan banks are just starting a major up cycle that will be gather steam once the USD/JPY clears 114.40.With the Nikkei moving into a frothier zone, Mizuho…

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:<ul><li>Add exposure to Energy and Materials. </li><li>Financial stocks are strengthening. </li><li>Avoid Australian banks. </li></ul>See the attached report for a complete list of our recommendations from this list.

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform using the Discovery Tool.  Notable themes include:Add exposure to Energy and Materials. Financial stocks are strengthening. Avoid Australian banks. See the attached report for a complete list of our recommendations from this list.

Japan

Mizuho Financial Group, Inc. provides comprehensive financial services through its subsidiaries. The Group provides variety of financial services such as general banking, securities brokerage, trust banking, and assets management.

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Mizuho Financial Group (8411 JP)

Japan Crossholdings: Japan Exchange's Sale of SGX Shares Sets A Precedent - Watch Closely

The BackgroundThe establishment of the Japan Corporate Governance Code in 2015 was a beginning step to better governance at stodgy Japanese...

Travis Lundy

Japan's Mega Banks at the Bottom of the List

Japan’s three mega banks have made considerable investment outside the country, where returns are generally higher. Mitsubishi UFJ Financial Group...

Daniel Tabbush

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion...

Pelham Smithers Associates

Mizuho Financial Rotation Long

After calling for a mushroom rally in the Nikkei from 21,000 our focus turned to gearing up in Japan bank stocks (SMFG and Mitsubishi UFJ) back in...

Thomas Schroeder

Popular Stocks, Attractive Charts

Actionable Charts from Smart Karma’s Most-Searched Tickers.We ran through a list of the most frequently searched tickers on the SmartKarma platform...

Vermilion Research

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