Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Expectations for Intel's 14A process grows with TSMC leading-node capacity tapped out.</li>
<li>China banning US cybersecurity firm had limited impact, although VMware connection takes Broadcom lower.</li>
<li>Dentsu down -10.5% yesterday after its International sale fell through. Watch for rebound.</li>
</ul>


Expectations for Intel's 14A process grows with TSMC leading-node capacity tapped out.
China banning US cybersecurity firm had limited impact, although VMware connection takes Broadcom lower.
Dentsu down -10.5% yesterday after its International sale fell through. Watch for rebound.


Japan Morning Connection: Mkt Rotation Not Really Hitting Tech and AI but Expect Mild Weakness

Asia Real Estate News Tracker, Asia Real Estate Tracker

Asia Real Estate Tracker

Asia Real Estate News Tracker

Tracking developments across Asia's regional real estate markets

<ul>
<li>Warburg Pincus is acquiring a stake in an Indian hotel platform from APG for up to $106 million.</li>
<li>Ares is planning to expand its office space at Gloucester Tower located in Central.</li>
<li>Blackstone has acquired a 50% stake in another Indian hotel for $100 million, highlighting APAC activity.</li>
</ul>


Warburg Pincus is acquiring a stake in an Indian hotel platform from APG for up to $106 million.
Ares is planning to expand its office space at Gloucester Tower located in Central.
Blackstone has acquired a 50% stake in another Indian hotel for $100 million, highlighting APAC activity.


Asia Real Estate Tracker (13-Jan-2026): Warburg Pincus to invest $106M in India hotel platform.

Japan Specialist

Mark Chadwick

<ul>
<li>Furukawa's stock surged after announcing shareholder-friendly measures, including asset sales, a buyback, and a dividend hike; activist City Index takes some profits.</li>
<li>The Japanese market faced a volatile week, ultimately closing lower, with the Nikkei declining by 1% - a mix of strong macro data, tariffs, and yen moves</li>
<li>Daifuku surged 25% on strong earnings, cost savings, and a robust FY25 order outlook, reinforcing confidence in long-term growth.</li>
</ul>


Furukawa's stock surged after announcing shareholder-friendly measures, including asset sales, a buyback, and a dividend hike; activist City Index takes some profits.
The Japanese market faced a volatile week, ultimately closing lower, with the Nikkei declining by 1% - a mix of strong macro data, tariffs, and yen moves
Daifuku surged 25% on strong earnings, cost savings, and a robust FY25 order outlook, reinforcing confidence in long-term growth.


Japan Strategy Weekly | City Index Cashes in on Furukawa

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 outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.</li>
<li>As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.</li>
<li>Following the election, we see a high probability of significant upside going into year-end.</li>
</ul>


Our outlook remains bullish on global equities (MSCI ACWI) with ACWI-US and the S&amp;P 500 holding above their respective bases at $117 and 5650-5670.
As long as these base supports hold, we would use any election-related pullback as an opportunity to add exposure.
Following the election, we see a high probability of significant upside going into year-end.


Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Pan-Asia Catalysts/Events, Quiddity Advisors

David Blennerhassett

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Guotai Junan International / Event-Driven

<ul>
<li>For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.</li>
<li>
<strong>The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%</strong>.</li>
<li>The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.</li>
</ul>


For August 2026, 13 new transactions (firm and non-binding) were discussed on Smartkarma (by the Quiddity team) with an overall announced deal size of ~US$7bn.

The average premium for the new transactions announced (or first discussed) in August was ~33%; and a year-to-date average of ~45%.
The average premiums for transactions in 2025, 2024, 2023, 2022, 2021, 2020, and 2019 were 49%, 43%, 39%, 41%, 33%, 31%, and 31%.


Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

Japan

DENTSU INC. mainly provides comprehensive advertising services.  The Company also provides marketing and event planning & promotion services.  Dentsu has associated companies in the US, Europe, and Asia.

Price Gauge
52-week Range	0.00 - 0.00
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Dentsu Inc (4324 JP)

Japan Morning Connection: Mkt Rotation Not Really Hitting Tech and AI but Expect Mild Weakness

Some rotation from mega tech into smaller cap value plays. China retaliates with tech bans for the US. KDDI may suffer after news of "innapropriate...

Andrew Jackson

Asia Real Estate Tracker (13-Jan-2026): Warburg Pincus to invest $106M in India hotel platform.

Warburg Pincus will invest up to $106 million in an Indian hotel platform, while Blackstone acquires a 50% stake in another hotel for $100 million...

Asia Real Estate Tracker

Japan Strategy Weekly | City Index Cashes in on Furukawa

Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.

Mark Chadwick

Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Bullish Outlook Intact on MSCI $ACWI and $SPX as they hold above their respective bases at $117 and 5650-5670; Buys in Services, Technology,...

Vermilion Research

Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

For the month of August, 13 new deals were discussed on Smartkarma with an overall deal size of ~US$7bn. The average premium for the new deals...

David Blennerhassett

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Mkt Rotation Not Really Hitting Tech and AI but Expect Mild Weakness

Some rotation from mega tech into smaller cap value plays. China retaliates with tech bans for the US. KDDI may suffer after news of "innapropriate...

Andrew Jackson

Asia Real Estate Tracker (13-Jan-2026): Warburg Pincus to invest $106M in India hotel platform.

Warburg Pincus will invest up to $106 million in an Indian hotel platform, while Blackstone acquires a 50% stake in another hotel for $100 million...

Asia Real Estate Tracker

Japan Strategy Weekly | City Index Cashes in on Furukawa

​Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.

Mark Chadwick

Bullish Outlook Intact on MSCI ACWI & SPX; Buys in Services, Technology, Discretionary, Gold Miners

Bullish Outlook Intact on MSCI $ACWI and $SPX as they hold above their respective bases at $117 and 5650-5670; Buys in Services, Technology,...

Vermilion Research

Asia-Pac M&A [August 2026 Wrap]: Baudroie, EQT, Guotai Junan, Peet, Reliance Worldwide, Yinson

For the month of August, 13 new deals were discussed on Smartkarma with an overall deal size of ~US$7bn. The average premium for the new deals...

David Blennerhassett

Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.