Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>The stock market ended on a strong note, with both the Nikkei 225 (+3.4%) and the  Topix (+3.7%) indices posting substantial weekly gains amid ongoing U.S.-Japan trade negotiations</li>
<li>Japanese Economy Minister Ryosei Akazawa's meeting with President Trump on Thursday proved pivotal, with Trump reportedly identifying a deal with Japan as a "top priority."</li>
<li>Auto stocks posted impressive gains Tuesday after reports that Trump was considering pausing his 25% levies on auto imports, with Mazda (+8%) leading the sector for the week.</li>
</ul>


The stock market ended on a strong note, with both the Nikkei 225 (+3.4%) and the  Topix (+3.7%) indices posting substantial weekly gains amid ongoing U.S.-Japan trade negotiations
Japanese Economy Minister Ryosei Akazawa's meeting with President Trump on Thursday proved pivotal, with Trump reportedly identifying a deal with Japan as a "top priority."
Auto stocks posted impressive gains Tuesday after reports that Trump was considering pausing his 25% levies on auto imports, with Mazda (+8%) leading the sector for the week.


Japan Strategy Weekly | Stocks Rally as Trade Tensions Ease and Hopes Rise for Bilateral Deal

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>FDA has confirmed the primary endpoints for Neuren Pharmaceuticals’ planned Phase 3 pivotal clinical trial of NNZ-2591 in Phelan-McDermid syndrome. Eisai has ultimately received its long-waited European approval for Leqembi.</li>
<li>Chugai Pharmaceutical’s outlicensed oral GLP-1 drug candidate orforglipron has shown positive topline Phase 3 results. Telix announced preliminary results from the Phase 2 study of TLX101 in recurrent high-grade glioma.</li>
<li>Biocon secured market entry date for Yesafili, an interchangeable biosimilar to Eylea in the U.S. FDA has issued Form 483 with 11 observations for Aurobindo Pharma’s North Carolina inhaler plant.</li>
</ul>


FDA has confirmed the primary endpoints for Neuren Pharmaceuticals’ planned Phase 3 pivotal clinical trial of NNZ-2591 in Phelan-McDermid syndrome. Eisai has ultimately received its long-waited European approval for Leqembi.
Chugai Pharmaceutical’s outlicensed oral GLP-1 drug candidate orforglipron has shown positive topline Phase 3 results. Telix announced preliminary results from the Phase 2 study of TLX101 in recurrent high-grade glioma.
Biocon secured market entry date for Yesafili, an interchangeable biosimilar to Eylea in the U.S. FDA has issued Form 483 with 11 observations for Aurobindo Pharma’s North Carolina inhaler plant.


APAC Healthcare Weekly (April 20)- Neuren, Chugai, Eisai, Telix, Biocon, Aurobindo Pharma

<ul>
<li>Eisai is eyeing for Leqembi global revenue of ¥250–280B in FY28. Kaken Pharmaceutical inlicensed dermatology drug candidate from Alumis. Kaken’s onychomycosis drug got approval in Italy.</li>
<li>Mochida Pharmaceutical has applied for marketing approval of Actembra biosimilar in Japan. Shionogi has filed for indication expansion of Xocova for post-exposure prophylaxis of COVID-19 in Japan.</li>
<li>SK Bioscience got approval for Phase 3 clinical trial of 21-valent pneumococcal vaccine in European countries. PharmaEssential obtained approval for Phase 3 clinical trial of Ropeginterferon alfa-2b in China.</li>
</ul>


Eisai is eyeing for Leqembi global revenue of ¥250–280B in FY28. Kaken Pharmaceutical inlicensed dermatology drug candidate from Alumis. Kaken’s onychomycosis drug got approval in Italy.
Mochida Pharmaceutical has applied for marketing approval of Actembra biosimilar in Japan. Shionogi has filed for indication expansion of Xocova for post-exposure prophylaxis of COVID-19 in Japan.
SK Bioscience got approval for Phase 3 clinical trial of 21-valent pneumococcal vaccine in European countries. PharmaEssential obtained approval for Phase 3 clinical trial of Ropeginterferon alfa-2b in China.


APAC Healthcare Weekly (Mar 30)- Eisai, Kaken, Mochida, Shionogi, SK Bioscience, PharmaEssentia

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.

Technical Analysis

<ul>
<li>Our long-term outlook remains bullish on global equities (MSCI ACWI). Germany and Europe continue to lead, our favorite theme we have been buying since January 9th.</li>
<li>Near-Term we wouldn't be surprised to see a pullback to range supports at $116 on ACWI-US and 5770-5850 or 5600-5670 on SPX in the coming weeks, where we are buyers.</li>
<li>This report was initially sent out Thursday morning, and as of this writing SPX is now testing support at 5850. Bottom potential.</li>
</ul>


Our long-term outlook remains bullish on global equities (MSCI ACWI). Germany and Europe continue to lead, our favorite theme we have been buying since January 9th.
Near-Term we wouldn't be surprised to see a pullback to range supports at $116 on ACWI-US and 5770-5850 or 5600-5670 on SPX in the coming weeks, where we are buyers.
This report was initially sent out Thursday morning, and as of this writing SPX is now testing support at 5850. Bottom potential.


Germany and Europe Continue to Lead; Remain Overweight Germany and U.S.; Bullish Outlook Intact

<ul>
<li>Daiichi Sankyo received seventh FDA approval for Enhertu in certain types of breast cancers. Eisai received FDA approval for Leqembi’s intravenous monthly maintenance dosing.</li>
<li>Nippon Shinyaku entered into an option agreement with AB2 BIO for the rights of commercialization of Tadekinig alfa in the U.S. for certain rare autoinflammatory diseases.</li>
<li>Shionogi announced positive results from Phase 2 trial of its novel investigational RSV oral antiviral candidate S-337395. Celltrion has received FDA approval for Actemra biosimilar.</li>
</ul>


Daiichi Sankyo received seventh FDA approval for Enhertu in certain types of breast cancers. Eisai received FDA approval for Leqembi’s intravenous monthly maintenance dosing.
Nippon Shinyaku entered into an option agreement with AB2 BIO for the rights of commercialization of Tadekinig alfa in the U.S. for certain rare autoinflammatory diseases.
Shionogi announced positive results from Phase 2 trial of its novel investigational RSV oral antiviral candidate S-337395. Celltrion has received FDA approval for Actemra biosimilar.


APAC Healthcare Weekly (Feb 2)- Daiichi Sankyo, Eisai, Nippon Shinyaku, Shionogi, Celltrion

Japan

Chugai Pharmaceutical Company Ltd., manufactures and sells pharmaceuticals in the domestic and international markets through its subsidiaries. The Company develops drugs in the fields of cancer, infectious diseases, bone, blood, and circulatory systems. Chugai Pharmaceutical also conducts research studies on drugs with private and public medical research institutions.

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Chugai Pharmaceutical (4519 JP)

Japan Strategy Weekly | Stocks Rally as Trade Tensions Ease and Hopes Rise for Bilateral Deal

Stock market in Japan surges as U.S.-Japan trade talks progress, with auto stocks seeing significant gains amid potential tariff pause.

Mark Chadwick

APAC Healthcare Weekly (April 20)- Neuren, Chugai, Eisai, Telix, Biocon, Aurobindo Pharma

Neuren is a step closer to P3 trial in PMS. Chugai’s oral GLP-1 drug candidate shows promise in P3 trial. Eisai got Leqembi approval in EU. Biocon...

Tina Banerjee

APAC Healthcare Weekly (Mar 30)- Eisai, Kaken, Mochida, Shionogi, SK Bioscience, PharmaEssentia

Eisai outlined Leqembi sales target. Kaken inlicensed drug candidate. Mochida filed for Actembra biosimilar. Shionogi applied for label expansion...

Tina Banerjee

Germany and Europe Continue to Lead; Remain Overweight Germany and U.S.; Bullish Outlook Intact

Germany and Europe Continue to Lead; Remain Overweight Germany $DAX $EWG and the U.S. $SPX; Bullish Outlook Intact on $ACWI above $116. $SPX...

Vermilion Research

APAC Healthcare Weekly (Feb 2)- Daiichi Sankyo, Eisai, Nippon Shinyaku, Shionogi, Celltrion

APAC healthcare companies continued to get approvals for new products and initiates clinical trials. The companies continued with acquisitions and...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Strategy Weekly | Stocks Rally as Trade Tensions Ease and Hopes Rise for Bilateral Deal

​Stock market in Japan surges as U.S.-Japan trade talks progress, with auto stocks seeing significant gains amid potential tariff pause.

Mark Chadwick

APAC Healthcare Weekly (April 20)- Neuren, Chugai, Eisai, Telix, Biocon, Aurobindo Pharma

Neuren is a step closer to P3 trial in PMS. Chugai’s oral GLP-1 drug candidate shows promise in P3 trial. Eisai got Leqembi approval in EU. Biocon...

Tina Banerjee

APAC Healthcare Weekly (Mar 30)- Eisai, Kaken, Mochida, Shionogi, SK Bioscience, PharmaEssentia

Eisai outlined Leqembi sales target. Kaken inlicensed drug candidate. Mochida filed for Actembra biosimilar. Shionogi applied for label expansion...

Tina Banerjee

Germany and Europe Continue to Lead; Remain Overweight Germany and U.S.; Bullish Outlook Intact

Germany and Europe Continue to Lead; Remain Overweight Germany $DAX $EWG and the U.S. $SPX; Bullish Outlook Intact on $ACWI above $116. $SPX...

Vermilion Research

APAC Healthcare Weekly (Feb 2)- Daiichi Sankyo, Eisai, Nippon Shinyaku, Shionogi, Celltrion

APAC healthcare companies continued to get approvals for new products and initiates clinical trials. The companies continued with acquisitions and...

Tina Banerjee

Stock market in Japan surges as U.S.-Japan trade talks progress, with auto stocks seeing significant gains amid potential tariff pause.