Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Even a slight disappointment from NVDA could trigger a big correction in Japanese SPE names who have already started to waver in the last few days post-earnings. </li>
<li>Lasertec, Disco and Advantest retreating but merely a blip on their 1-year charts with room for more profit taking.</li>
<li>Space names Synspective and Axelspace still look attractive ahead of SpaceX pricing in 3 weeks.</li>
</ul>


Even a slight disappointment from NVDA could trigger a big correction in Japanese SPE names who have already started to waver in the last few days post-earnings. 
Lasertec, Disco and Advantest retreating but merely a blip on their 1-year charts with room for more profit taking.
Space names Synspective and Axelspace still look attractive ahead of SpaceX pricing in 3 weeks.


Japan Morning Connection: NVDA Numbers Tomorrow Loom Over Already Wavering SPE Names

Japan Specialist

Mark Chadwick

<ul>
<li>Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.</li>
<li>The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. </li>
<li>Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.</li>
</ul>


Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.
The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. 
Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.


Japan Strategy Weekly | The AI Age Plumber

<ul>
<li>HP after the close taking a 7% hit with guidance reflecting its profitability struggles due to surging memory prices.</li>
<li>Citron Research goes short Sandisk claiming the NAND cycle is close to the top, with Samsung set to rebalance supply shortages.</li>
<li>Ibiden guidance looks light, but the secondary offering is small and will hardly touch the sides vs NVDA catalyst tomorrow.</li>
</ul>


HP after the close taking a 7% hit with guidance reflecting its profitability struggles due to surging memory prices.
Citron Research goes short Sandisk claiming the NAND cycle is close to the top, with Samsung set to rebalance supply shortages.
Ibiden guidance looks light, but the secondary offering is small and will hardly touch the sides vs NVDA catalyst tomorrow.


Japan Morning Connection: Meta Locks Down AMD Chip Supply with Eyes on Becoming a Major Holder

<ul>
<li>Markets reacting to a dystopian Citrini Research report highlighting the danger AI poses to the consumer driven economy.</li>
<li>Software takes another hit with IBM posting its biggest loses since 2000 on fears AI eats into its mainframe biz.</li>
<li>Semi-Caps are outperformers ahead of the NVDA numbers on Wednesday.</li>
</ul>


Markets reacting to a dystopian Citrini Research report highlighting the danger AI poses to the consumer driven economy.
Software takes another hit with IBM posting its biggest loses since 2000 on fears AI eats into its mainframe biz.
Semi-Caps are outperformers ahead of the NVDA numbers on Wednesday.


Japan Morning Connection: AI Fears Spread with Financials and Insurance Down Sharply

<ul>
<li>Homebuilders surging on prospect for lower rates to help Sumi Forestry and Sekisui House.</li>
<li>NVDA and AMD down as rivalry with Google for AI chips heats up.</li>
<li>Bain looking to take around 13%/36mm shs of their holding in Kioxia off the table in a block trade this Friday.</li>
</ul>


Homebuilders surging on prospect for lower rates to help Sumi Forestry and Sekisui House.
NVDA and AMD down as rivalry with Google for AI chips heats up.
Bain looking to take around 13%/36mm shs of their holding in Kioxia off the table in a block trade this Friday.


Japan Morning Connection: New Potential Fed Chairman Likely to Add Another Voice for 50 Bps Cut

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 Morning Connection: NVDA Numbers Tomorrow Loom Over Already Wavering SPE Names

SPE names brace for NVDA numbers tomorrow after already wavering post earnings. Market remains gun-shy on mainstay AI plays making it likely for...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Japan Morning Connection: Meta Locks Down AMD Chip Supply with Eyes on Becoming a Major Holder

Citron makes a (very) brave short bet against Sandisk. Intel up on news of strengthening ties with AI chip startup SambaNova and AMD investment news.

Andrew Jackson

Japan Morning Connection: AI Fears Spread with Financials and Insurance Down Sharply

The US banking sector took a hit after a bearish AI dystopian report from Citrini Research focused on ‘the human intelligence displacement spiral’.

Andrew Jackson

Japan Morning Connection: New Potential Fed Chairman Likely to Add Another Voice for 50 Bps Cut

NVDA and AMD fell lower with competition in AI chips, Bain plans to sell part of Kioxia stake, Socionext seems to have lost connection as a Google...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: NVDA Numbers Tomorrow Loom Over Already Wavering SPE Names

SPE names brace for NVDA numbers tomorrow after already wavering post earnings. Market remains gun-shy on mainstay AI plays making it likely for...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

​Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Japan Morning Connection: Meta Locks Down AMD Chip Supply with Eyes on Becoming a Major Holder

Citron makes a (very) brave short bet against Sandisk. Intel up on news of strengthening ties with AI chip startup SambaNova and AMD investment news.

Andrew Jackson

Japan Morning Connection: AI Fears Spread with Financials and Insurance Down Sharply

The US banking sector took a hit after a bearish AI dystopian report from Citrini Research focused on ‘the human intelligence displacement spiral’.

Andrew Jackson

Japan Morning Connection: New Potential Fed Chairman Likely to Add Another Voice for 50 Bps Cut

NVDA and AMD fell lower with competition in AI chips, Bain plans to sell part of Kioxia stake, Socionext seems to have lost connection as a Google...

Andrew Jackson

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...