Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Strong ADP numbers drive bond and equity sell off; SPX -0.8% as all sectors in the red  as reality of further Fed hikes get real; EV Truce in China</li>
<li>JAPAN. NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen strength won't help - as we head into weekend, correction finally here?</li>
<li>NUGGET. Profit Renaissance for Japan's Defense Industry. From big (MHI, Melco, etc) to Small - expect numerous beneficiaries of the policy changes afoot. </li>
</ul>


OVERSEAS. Strong ADP numbers drive bond and equity sell off; SPX -0.8% as all sectors in the red  as reality of further Fed hikes get real; EV Truce in China
JAPAN. NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen strength won't help - as we head into weekend, correction finally here?
NUGGET. Profit Renaissance for Japan's Defense Industry. From big (MHI, Melco, etc) to Small - expect numerous beneficiaries of the policy changes afoot. 


Ohayo Japan |Rates Rocket-Equities Take Heed; NUGGET: Profit Renaissance for Japan's Defense Sector

Global Healthcare Analyst

Tina Banerjee

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/astellas-pharma-inc" target="_blank" data-smartkarma-citation="entities:6091:1" rel="noopener">Astellas Pharma (4503 JP)</a> reported 27% YoY revenue growth in Q1FY27. Core operating profit increased to ¥221.4B, up 56% YoY driven by cost optimization through sustainable margin transformation program.</li>
<li>Strategic brands (Padcev, Izervay, Veozah, Vyloy, Xospata), which recorded underlying growth of 43% YoY and contributed 25% of revenue, drove overall revenue growth.</li>
<li>Astellas reiterated FY27 guidance where they expect FY27 revenue to be ¥2,220B (up 3.8% YoY), core operating profit of ¥620B (up 11.6% YoY) and core profit of ¥460B (+8.4% YoY).</li>
</ul>



Astellas Pharma (4503 JP) reported 27% YoY revenue growth in Q1FY27. Core operating profit increased to ¥221.4B, up 56% YoY driven by cost optimization through sustainable margin transformation program.
Strategic brands (Padcev, Izervay, Veozah, Vyloy, Xospata), which recorded underlying growth of 43% YoY and contributed 25% of revenue, drove overall revenue growth.
Astellas reiterated FY27 guidance where they expect FY27 revenue to be ¥2,220B (up 3.8% YoY), core operating profit of ¥620B (up 11.6% YoY) and core profit of ¥460B (+8.4% YoY).


Astellas Pharma (4503 JP): Growth Momentum Intact in Q1; FY27 Guidance Reiterated

<ul>
<li>As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.</li>
<li>Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.</li>
<li>For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.</li>
</ul>


As we are heading into 2023, let us look back on the performance of some of our global healthcare stocks recommended throughout 2022.
Four stocks on which I am bullish, generated more than 50% return since their recommendations. 10 stocks on which I am bearish plunged more than 20%.
For 2023, investors should continue to focus on established healthcare companies, having strong and flexible balance sheet with muti-year revenue visibility.


2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sumitomo-pharma-co" target="_blank" data-smartkarma-citation="entities:1935:1" rel="noopener">Sumitomo Pharma (4506 JP)</a> revenue was up 20% YoY to ¥129.5B in Q1FY27 on the back of continued strong sales in North America (up 35% YoY to ¥94.3B).</li>
<li>Orgovyx (revenue jumped 58% YoY to ¥51.6B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 42% to ¥30.2B) improved market share through clinical differentiation.</li>
<li>Company reiterated FY27 guidance. Core drugs will hold fort and eventually Enzomenib &amp; Amchepry is expected to follow suit in near to medium term.</li>
</ul>



Sumitomo Pharma (4506 JP) revenue was up 20% YoY to ¥129.5B in Q1FY27 on the back of continued strong sales in North America (up 35% YoY to ¥94.3B).
Orgovyx (revenue jumped 58% YoY to ¥51.6B) witnessed solid patient growth in medicare patients while Gemtesa (revenue rose 42% to ¥30.2B) improved market share through clinical differentiation.
Company reiterated FY27 guidance. Core drugs will hold fort and eventually Enzomenib &amp; Amchepry is expected to follow suit in near to medium term.


Sumitomo Pharma (4506 JP): North America Continue To Be Robust in Q1FY27, Enzomenib Progressing Well

<ul>
<li>
 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast.
</li>
<li>
OVERSEAS:  Coordinated Fed attack on sentiment tanks market; China locks continues to weigh in; MSFT-Activision-still in play; Aggressive EU taxes on big tobacco</li>
<li>
JAPAN: BOJ takes hit on Bonds; Sony good news - MSFT+Apple; Notable broker downgrades across Autos (Nissan; Subaru) and Softbank; Regulators collusion clamp down on  Japan Advertising firms; Eisai/Biogen -ve 
</li>
</ul>



 Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast.


OVERSEAS:  Coordinated Fed attack on sentiment tanks market; China locks continues to weigh in; MSFT-Activision-still in play; Aggressive EU taxes on big tobacco

JAPAN: BOJ takes hit on Bonds; Sony good news - MSFT+Apple; Notable broker downgrades across Autos (Nissan; Subaru) and Softbank; Regulators collusion clamp down on  Japan Advertising firms; Eisai/Biogen -ve  



Good Morning Japan | Coordinated Fed "Attack" Tanks Markets; Compounds China Woes

Japan

Eisai Co., Ltd. produces prescription drugs and medical equipment and sells mainly to sales agents and subsidiaries.  Through its subsidiary, Sanko Junyaku, the Company produces and sells diagnostic drugs.  Eisai also markets its products through related companies in the US, Europe, and Asia.  The Company also manufactures and sells foods, livestock feeds, chemical, and agrochemicals.

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Eisai Co Ltd (4523 JP)

Ohayo Japan |Rates Rocket-Equities Take Heed; NUGGET: Profit Renaissance for Japan's Defense Sector

ADP numbers drive Bond and Equity Sell off; NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen...

Mark Chadwick

Astellas Pharma (4503 JP): Growth Momentum Intact in Q1; FY27 Guidance Reiterated

Astellas Pharma sees strong revenue growth in Q1FY27, driven by strategic brands and cost optimization, reiterates FY27 guidance with positive...

Tina Banerjee

2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

From my coverage universe, two Taiwanese stocks generated 59% and 71% returns in nearly six months. New product launch and geography expansion are...

Tina Banerjee

Sumitomo Pharma (4506 JP): North America Continue To Be Robust in Q1FY27, Enzomenib Progressing Well

Sumitomo Pharma's Q1FY27 revenue rose 20% YoY to ¥129.5B, driven by strong sales in North America. Orgovyx and Gemtesa saw significant revenue...

Tina Banerjee

Good Morning Japan | Coordinated Fed "Attack" Tanks Markets; Compounds China Woes

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Ohayo Japan |Rates Rocket-Equities Take Heed; NUGGET: Profit Renaissance for Japan's Defense Sector

ADP numbers drive Bond and Equity Sell off; NKY Futs -1.1% vs Cash; USDJPY 144.1; Expect further follow through of yesterday's NKY sell off; Yen...

Mark Chadwick

Astellas Pharma (4503 JP): Growth Momentum Intact in Q1; FY27 Guidance Reiterated

​Astellas Pharma sees strong revenue growth in Q1FY27, driven by strategic brands and cost optimization, reiterates FY27 guidance with positive...

Tina Banerjee

2022 in Rear Mirror View: Top Performers From My Global Healthcare Coverage Universe

From my coverage universe, two Taiwanese stocks generated 59% and 71% returns in nearly six months. New product launch and geography expansion are...

Tina Banerjee

Sumitomo Pharma (4506 JP): North America Continue To Be Robust in Q1FY27, Enzomenib Progressing Well

​Sumitomo Pharma's Q1FY27 revenue rose 20% YoY to ¥129.5B, driven by strong sales in North America. Orgovyx and Gemtesa saw significant revenue...

Tina Banerjee

Good Morning Japan | Coordinated Fed "Attack" Tanks Markets; Compounds China Woes

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

Astellas Pharma sees strong revenue growth in Q1FY27, driven by strategic brands and cost optimization, reiterates FY27 guidance with positive...

Sumitomo Pharma's Q1FY27 revenue rose 20% YoY to ¥129.5B, driven by strong sales in North America. Orgovyx and Gemtesa saw significant revenue...