Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

DZT Research

DZT Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 15th. The aggregated net margin trading position is USD14,276m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Sanrio, Mitsubishi UFJ Financial, Lasertec, SoftBank, Sumitomo Mitsui Financial, Kawasaki Heavy Industries, Fast Retailing, Advantest, Disco, Zensho, Sanrio, Mitsubishi Ufj Financial, Lasertec.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 15th. The aggregated net margin trading position is USD14,276m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Sanrio, Mitsubishi UFJ Financial, Lasertec, SoftBank, Sumitomo Mitsui Financial, Kawasaki Heavy Industries, Fast Retailing, Advantest, Disco, Zensho, Sanrio, Mitsubishi Ufj Financial, Lasertec.


JPX Margin Trading Weekly (Aug 15th): Sanrio, Mitsubishi UFJ Financial, Lasertec, SoftBank

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 8th. The aggregated net margin trading position is USD15,664m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in Furukawa Electric, Disco, Mitsubishi Heavy Industries, SoftBank, Advantest, Tokyo Electron, Nintendo, IHI, Chugai Pharmaceutical, Toyota Motor, Furukawa Electric, Disco, Mitsubishi Heavy Industries.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 8th. The aggregated net margin trading position is USD15,664m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in Furukawa Electric, Disco, Mitsubishi Heavy Industries, SoftBank, Advantest, Tokyo Electron, Nintendo, IHI, Chugai Pharmaceutical, Toyota Motor, Furukawa Electric, Disco, Mitsubishi Heavy Industries.


JPX Margin Trading Weekly (Aug 8th): Furukawa Electric, Disco, Mitsubishi Heavy Industries, SoftBank

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/daiichi-sankyo-co-ltd" target="_blank" data-smartkarma-citation="entities:3014:1" rel="noopener">Daiichi Sankyo (4568 JP)</a> started FY26 on a strong note, with 9% revenue growth to ¥475B, driven by Enhertu. The negative effect on revenue from foreign exchange was ¥19B.</li>
<li>Although Daiichi Sankyo reaffirmed FY26 guidance announced in April, the company raised Datroway FY26 revenue expectation, following strong initial uptake. There is scope for further guidance raise.</li>
<li>Moving ahead, Enhertu and Datroway progress (uptake, indication and geography expansion, and data readouts) will be the key drivers.</li>
</ul>



Daiichi Sankyo (4568 JP) started FY26 on a strong note, with 9% revenue growth to ¥475B, driven by Enhertu. The negative effect on revenue from foreign exchange was ¥19B.
Although Daiichi Sankyo reaffirmed FY26 guidance announced in April, the company raised Datroway FY26 revenue expectation, following strong initial uptake. There is scope for further guidance raise.
Moving ahead, Enhertu and Datroway progress (uptake, indication and geography expansion, and data readouts) will be the key drivers.


Daiichi Sankyo (4568 JP): Better-Than-Expected Q1FY26 Result; FY Guidance Reiterated

<ul>
<li>
<a href="https://www.smartkarma.com/entities/takeda-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:11747:1" rel="noopener">Takeda Pharmaceutical (4502 JP)</a> reported 1QFY26 revenue of ¥1,107B, down 8%, primarily attributable to unfavorable foreign exchange and lower sales of Vyvanse.</li>
<li>Takeda reiterated its FY26 guidance of lower sales and higher margins, reflecting near term headwinds amid cost control.</li>
<li>Positive Phase 3 data read outs for rusfertide (for Polycythemia Vera) and oveporexton (for narcolepsy type 1) is a step ahead towards filing in FY26 and likely approval thereafter.</li>
</ul>



Takeda Pharmaceutical (4502 JP) reported 1QFY26 revenue of ¥1,107B, down 8%, primarily attributable to unfavorable foreign exchange and lower sales of Vyvanse.
Takeda reiterated its FY26 guidance of lower sales and higher margins, reflecting near term headwinds amid cost control.
Positive Phase 3 data read outs for rusfertide (for Polycythemia Vera) and oveporexton (for narcolepsy type 1) is a step ahead towards filing in FY26 and likely approval thereafter.


Takeda Pharmaceutical (4502 JP): Guidance Reaffirmed; Positive Data Read Outs Pave Way for Filings

<ul>
<li>
<a href="https://www.smartkarma.com/entities/chugai-pharmaceutical-co-ltd" target="_blank" data-smartkarma-citation="entities:4489:1" rel="noopener">Chugai Pharmaceutical (4519 JP)</a> reported 5% YoY rise in core revenue in 1H25, as overseas sales grew 7% YoY and domestic market revenue was up 3%.</li>
<li>Actemra witnessed growth in both overseas and domestic market. Hemlibra overseas sales stood at ¥151B (30% of total sales), down 6% YoY.</li>
<li>In 1H25, two significant developments that happened are successful P3 trial of orforglipron and positive results from phase I/II study of NXT007.</li>
</ul>



Chugai Pharmaceutical (4519 JP) reported 5% YoY rise in core revenue in 1H25, as overseas sales grew 7% YoY and domestic market revenue was up 3%.
Actemra witnessed growth in both overseas and domestic market. Hemlibra overseas sales stood at ¥151B (30% of total sales), down 6% YoY.
In 1H25, two significant developments that happened are successful P3 trial of orforglipron and positive results from phase I/II study of NXT007.


Chugai Pharmaceutical (4519 JP): Actemra Shine Bright Amid Margin Pressure, 2025 Guidance Reiterated

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Chugai Pharmaceutical (4519 JP)

JPX Margin Trading Weekly (Aug 15th): Sanrio, Mitsubishi UFJ Financial, Lasertec, SoftBank

We analyzed JPX margin trading positions report for the past week and highlighted Sanrio (8136 JP), Mitsubishi UFJ Financial (8306 JP), Lasertec...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Aug 8th): Furukawa Electric, Disco, Mitsubishi Heavy Industries, SoftBank

We analyzed JPX margin trading positions report for the past week and highlighted Furukawa Electric (5801 JP), Disco (6146 JP), Mitsubishi Heavy...

Ke Yan, CFA, FRM

Daiichi Sankyo (4568 JP): Better-Than-Expected Q1FY26 Result; FY Guidance Reiterated

Daiichi Sankyo sees 9% revenue growth in FY26 driven by Enhertu. The company has raised Datroway revenue expectation for FY26. Enhertu and...

Tina Banerjee

Takeda Pharmaceutical (4502 JP): Guidance Reaffirmed; Positive Data Read Outs Pave Way for Filings

Takeda Pharmaceutical reports 1QFY26 revenue decline due to unfavorable Fx and lower sales of Vyvanse. The company reiterates FY26 guidance....

Tina Banerjee