Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Japanese equities delivered exceptional performance this week, with the Nikkei 225 surging 4.1% to fresh record highs </li>
<li>Expect the BoJ to maintain the 0.5% policy rate Friday, with October remaining the earliest viable hike window</li>
<li>Geopolitical tensions remain elevated with Polish airspace incidents and Middle East complexities creating volatility catalysts; We remain +ve on JP equities given attractive valuations and Fed tailwinds</li>
</ul>


Japanese equities delivered exceptional performance this week, with the Nikkei 225 surging 4.1% to fresh record highs 
Expect the BoJ to maintain the 0.5% policy rate Friday, with October remaining the earliest viable hike window
Geopolitical tensions remain elevated with Polish airspace incidents and Middle East complexities creating volatility catalysts; We remain +ve on JP equities given attractive valuations and Fed tailwinds


Japan Strategy Weekly | Nikkei Surges to Record High

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>SMCI +32% as it staves off delisting continues to set a positive tone for Nidec</li>
<li>Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco</li>
<li>Highlights relative cheapness for Japanese game stocks as take-over targets</li>
</ul>


SMCI +32% as it staves off delisting continues to set a positive tone for Nidec
Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco
Highlights relative cheapness for Japanese game stocks as take-over targets


Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

<ul>
<li>Good retailer numbers and outlooks by Target and TJX setting a positive tone for the likes of Mercari on the read for consumer spending.</li>
<li>Toll Bros numbers from the day before lifting US Homebuilders should see the likes of <a href="https://www.smartkarma.com/entities/sumitomo-forestry-co-ltd" target="_blank" rel="noopener">Sumitomo Forestry</a> rebound off yesterdays weak price action.</li>
<li>Japanese R/E names look increasingly vulnerable to downside ahead of Ueda's speech tomorrow which should point to a BoJ trajectory for future rate hikes.</li>
</ul>


Good retailer numbers and outlooks by Target and TJX setting a positive tone for the likes of Mercari on the read for consumer spending.
Toll Bros numbers from the day before lifting US Homebuilders should see the likes of Sumitomo Forestry rebound off yesterdays weak price action.
Japanese R/E names look increasingly vulnerable to downside ahead of Ueda's speech tomorrow which should point to a BoJ trajectory for future rate hikes.


Japan Morning Connection: Mercari, Sumitomo Forestry, Anritsu

<ul>
<li>TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.</li>
<li>Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.</li>
<li>Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.</li>
</ul>


TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.
Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.
Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.


Japan Morning Connection: Rohm, Anritsu, Shiseido

Smartkarma Research Team, Smartkarma

Smartkarma Research

Smartkarma Research Team

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<p>On our next Webinar, we are thrilled to welcome back Insight Provider <a href="https://www.smartkarma.com/profiles/scott-foster" target="_blank" data-smartkarma-citation="accounts:1134" rel="noopener">Scott Foster</a>, who will present his hand-picked ideas in Japan's IT sector. </p>
<div>
<h3>The webinar will be hosted on Wednesday, 27 October 2021, 17:00 SGT/HKT.</h3>
<div class="content-highlight">
<h2><a href="https://share.hsforms.com/1H9pFZOB-RF2J00kbvMmxcw2c5gj?zoom_webinar_id=85198859426" target="_blank" rel="noopener">Register for the Webinar here</a></h2>
</div>
</div>
<div>
<div>
<p>Scott Foster is a securities analyst who has been covering electronics, precision equipment &amp; robotics, engineering, construction, transport, and other sectors for more than 25 years in Japan and 3 years in Korea.</p>
</div>
</div>

On our next Webinar, we are thrilled to welcome back Insight Provider Scott Foster, who will present his hand-picked ideas in Japan's IT sector. 

The webinar will be hosted on Wednesday, 27 October 2021, 17:00 SGT/HKT.

Register for the Webinar here




Scott Foster is a securities analyst who has been covering electronics, precision equipment &amp; robotics, engineering, construction, transport, and other sectors for more than 25 years in Japan and 3 years in Korea.



Japan

ANRITSU CORPORATION manufactures electronic systems and equipment for telecommunication equipment, measurement instruments, electronic devices, and industrial machinery.  The Company's products include communication network test equipment, and radio monitoring receivers.  Anritsu operates worldwide.

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Anritsu Corp (6754 JP)

Japan Strategy Weekly | Nikkei Surges to Record High

Japanese equities surged to record highs this week, with the BoJ expected to maintain policy rate and geopolitical tensions adding volatility;...

Mark Chadwick

Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...

Andrew Jackson

Japan Morning Connection: Mercari, Sumitomo Forestry, Anritsu

Positive retail numbers from Target and TJX bode well for consumer spending, while Toll Bros' strong performance lifts Homebuilders. Japanese R/E...

Andrew Jackson

Japan Morning Connection: Rohm, Anritsu, Shiseido

TXN's lower capex and weak demand as slight negative for SPE and analog/power companies; Keysight's strong earnings and guidance is positive for...

Andrew Jackson

Smartkarma Webinar | Japan IT Picks

Join us for a session with Insight Provider Scott Foster, who will present his hand-picked ideas in Japan's IT sector.

Smartkarma Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Strategy Weekly | Nikkei Surges to Record High

​Japanese equities surged to record highs this week, with the BoJ expected to maintain policy rate and geopolitical tensions adding volatility;...

Mark Chadwick

Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

​SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...

Andrew Jackson

Japan Morning Connection: Mercari, Sumitomo Forestry, Anritsu

​Positive retail numbers from Target and TJX bode well for consumer spending, while Toll Bros' strong performance lifts Homebuilders. Japanese R/E...

Andrew Jackson

Japan Morning Connection: Rohm, Anritsu, Shiseido

TXN's lower capex and weak demand as slight negative for SPE and analog/power companies; Keysight's strong earnings and guidance is positive for...

Andrew Jackson

Smartkarma Webinar | Japan IT Picks

Join us for a session with Insight Provider Scott Foster, who will present his hand-picked ideas in Japan's IT sector.

Smartkarma Research

Japanese equities surged to record highs this week, with the BoJ expected to maintain policy rate and geopolitical tensions adding volatility;...

SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...

Positive retail numbers from Target and TJX bode well for consumer spending, while Toll Bros' strong performance lifts Homebuilders. Japanese R/E...