Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>
 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast
</li>
<li>OVERSEAS.  Equity markets consoldiate - with strong Technical support ahead of holidays; Mometum over Beta/Growth; Defensives lead;  Oil market confusion; Disney mgmt coup</li>
<li>JAPAN. Quiet Start; Yen weaker at ¥142/USD;  Ahead of holiday's tomorrow(and US Thanksgiving), expect low volumes and little px movement;  Buffet bullish Japanese Traders; Broker initiations on Kajima(BUY); Shimizu(SELL)</li>
</ul>



 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast

OVERSEAS.  Equity markets consoldiate - with strong Technical support ahead of holidays; Mometum over Beta/Growth; Defensives lead;  Oil market confusion; Disney mgmt coup
JAPAN. Quiet Start; Yen weaker at ¥142/USD;  Ahead of holiday's tomorrow(and US Thanksgiving), expect low volumes and little px movement;  Buffet bullish Japanese Traders; Broker initiations on Kajima(BUY); Shimizu(SELL)


Good Morning Japan | Holiday Blues - More of the Same

<ul>
<li> Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast!</li>
<li>OVERNIGHT:  Hawkish Fed speak weigh on markets but digested as signs of economic weakening-housing, shipping; Markets and Tech resilient. AMAT 1Q guidance supportive; FTX debacle: "Complete failure of controls !"</li>
<li>JAPAN:  Flat open indicated; JPYUSD ¥140 handle; Likely takes the lead from the US; Expect supportive bids into weekend with AMAT guidance</li>
</ul>


 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast!
OVERNIGHT:  Hawkish Fed speak weigh on markets but digested as signs of economic weakening-housing, shipping; Markets and Tech resilient. AMAT 1Q guidance supportive; FTX debacle: "Complete failure of controls !"
JAPAN:  Flat open indicated; JPYUSD ¥140 handle; Likely takes the lead from the US; Expect supportive bids into weekend with AMAT guidance


Good Morning Japan | Hopes Dashed but Resilience Evident

<ul>
<li>
 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast!
</li>
<li>
OVERSEAS: Strong US retail numbers cast doubt on Fed pivot;  Micron's cuts on memory wafers drag down Semis;   Crypto crisis spreads; Trump declares 2024 Presidential run - Dems doing cartwheels?</li>
<li>
JAPAN: Toyota 5th Gen Prius - looks like a...TESLA, very cool!; Rohm joins PIF's Toshiba bid with ¥300bn; Rakuten taps junk bond market for $500mn-things are really serious..</li>
</ul>



 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast!


OVERSEAS: Strong US retail numbers cast doubt on Fed pivot;  Micron's cuts on memory wafers drag down Semis;   Crypto crisis spreads; Trump declares 2024 Presidential run - Dems doing cartwheels?

JAPAN: Toyota 5th Gen Prius - looks like a...TESLA, very cool!; Rohm joins PIF's Toshiba bid with ¥300bn; Rakuten taps junk bond market for $500mn-things are really serious..


Good Morning Japan | Schizophrenic Markets!

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/daiei-kankyo-co-ltd" target="_blank" data-smartkarma-citation="entities:36539:1" rel="noopener">Daiei Kankyo (9336 JP)</a> (DK), a waste management company, aims to raise around US$280m in its Japan IPO.</li>
<li>Daiei Kankyo is involved in the waste management and related businesses in Japan. The core of its operations consists of its waste management and recycling business.</li>
<li>In this note, we talk about the company's past performance.</li>
</ul>



Daiei Kankyo (9336 JP) (DK), a waste management company, aims to raise around US$280m in its Japan IPO.
Daiei Kankyo is involved in the waste management and related businesses in Japan. The core of its operations consists of its waste management and recycling business.
In this note, we talk about the company's past performance.


Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Senior Technology Analyst, Japanese Equities

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

Equity Bottom-Up

<ul>
<li>Tokyo Electron (TEL) has cut sales guidance for 2H of FY Mar-23 by more than 25% and operating profit guidance by more than 50%. </li>
<li>Half of the reduction in sales guidance is due U.S. sanctions on China. Management does not expect demand to pick up until the second half of next year. </li>
<li>The share price has risen by more than 30% in the past five weeks after a slight decline in U.S. inflation. Projected valuations are not particularly attractive.</li>
</ul>


Tokyo Electron (TEL) has cut sales guidance for 2H of FY Mar-23 by more than 25% and operating profit guidance by more than 50%. 
Half of the reduction in sales guidance is due U.S. sanctions on China. Management does not expect demand to pick up until the second half of next year. 
The share price has risen by more than 30% in the past five weeks after a slight decline in U.S. inflation. Projected valuations are not particularly attractive.


Tokyo Electron (8035 JP): Sell into the Bear Market Bounce

Japan

Tokyo Electron Limited manufactures and sells industrial electronics products, such as semiconductor manufacturing machines, computer system, and electronic components.  The Company products are sold in US, Taiwan, and others as well as in Japan.

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Tokyo Electron Ltd Unsp Adr (TOELY US)

Good Morning Japan | Holiday Blues - More of the Same

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

Good Morning Japan | Hopes Dashed but Resilience Evident

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

Good Morning Japan | Schizophrenic Markets!

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

Daiei Kankyo Pre-IPO - Steady, at Best

Daiei Kankyo (9336 JP) (DK), a waste management company, aims to raise around US$280m in its Japan IPO. In this note, we look at the company's past...

Sumeet Singh

Tokyo Electron (8035 JP): Sell into the Bear Market Bounce

Guidance has been slashed as China sanctions aggravate the downturn in the semiconductor cycle. The shares are up more than 30% over the past five...

Scott Foster

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