Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.</li>
<li>Trump touting Govt buying $200bn worth of MBS as panacea for housing.</li>
<li>Defense higher again, while Fast Retailing and Disco post good numbers.</li>
</ul>


Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.
Trump touting Govt buying $200bn worth of MBS as panacea for housing.
Defense higher again, while Fast Retailing and Disco post good numbers.


Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

Japan Specialist

Mark Chadwick

<ul>
<li>Stocks rebounded on stronger crypto and AI momentum, upbeat guidance from Microchip and Boeing, and rising Fed-cut optimism.</li>
<li>Mitsubishi Electric will triple optical semiconductor capacity by FY2028 by reallocating power chip capex, pivoting toward AI-driven data-center demand amid slowing EV growth.</li>
<li>Uniqlo Japan’s November same-store sales rose 7.6% year over year, extending Q1 revenue strength and supporting profit upside, though recent share gains suggest good news is priced in.</li>
</ul>


Stocks rebounded on stronger crypto and AI momentum, upbeat guidance from Microchip and Boeing, and rising Fed-cut optimism.
Mitsubishi Electric will triple optical semiconductor capacity by FY2028 by reallocating power chip capex, pivoting toward AI-driven data-center demand amid slowing EV growth.
Uniqlo Japan’s November same-store sales rose 7.6% year over year, extending Q1 revenue strength and supporting profit upside, though recent share gains suggest good news is priced in.


Ohayo Japan | Bitcoin Bounce Lifts Stocks

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>In this in-depth review, it is clear that while Japanese clothing markets had a solid year in FY2024-25, once again the top 100 retailers outperformed by a large margin.</li>
<li>This meant they surpassed 71% share of the market but, within the specialty market alone, the top 10 retailers own 34%. This is now a clear oligopoly.</li>
<li>There are no signs of the situation changing either but rather the capacity of the leaders to invest should further expand share at the top.</li>
</ul>


In this in-depth review, it is clear that while Japanese clothing markets had a solid year in FY2024-25, once again the top 100 retailers outperformed by a large margin.
This meant they surpassed 71% share of the market but, within the specialty market alone, the top 10 retailers own 34%. This is now a clear oligopoly.
There are no signs of the situation changing either but rather the capacity of the leaders to invest should further expand share at the top.


The Great Divide: Fashion Retail’s Oligopoly

<ul>
<li>
 For the week: Nikkei: -1.1%, TPX -0.8%, JPY 149.70 (-1.48¥), Gold +8.8%, Oil: -3.4%, BTC: -7.2%</li>
<li>A week remains a lifetime in financial markets. The exuberance that lifted Japanese equities to record highs only last week has given way to a more cautious tone</li>
<li>
Sector wise, Retail outperformed, suggesting defensive positioning, but also reflecting strong underlying business performance. Aeon, Ryohin and Fast all saw major gains. </li>
</ul>



 For the week: Nikkei: -1.1%, TPX -0.8%, JPY 149.70 (-1.48¥), Gold +8.8%, Oil: -3.4%, BTC: -7.2%
A week remains a lifetime in financial markets. The exuberance that lifted Japanese equities to record highs only last week has given way to a more cautious tone

Sector wise, Retail outperformed, suggesting defensive positioning, but also reflecting strong underlying business performance. Aeon, Ryohin and Fast all saw major gains. 


Japan Strategy Weekly | Global Jitters Spread

<ul>
<li>
Equity Surge: Japanese stocks rallied as investors priced in Abenomics-style stimulus under PM-elect Takaichi, with Nikkei +5%, Topix +2%. </li>
<li>
Infrastructure and tech led gains: SoftBank, Yaskawa, Fujikura, Mani, and Fast Retailing surged on earnings beats, robotics expansion, and growth in data center components. </li>
<li>
Risks: Political fragility, inflation-wage pressures, and US reaction to yen depreciation pose potential hurdles to market optimism.</li>
</ul>



Equity Surge: Japanese stocks rallied as investors priced in Abenomics-style stimulus under PM-elect Takaichi, with Nikkei +5%, Topix +2%. 

Infrastructure and tech led gains: SoftBank, Yaskawa, Fujikura, Mani, and Fast Retailing surged on earnings beats, robotics expansion, and growth in data center components. 

Risks: Political fragility, inflation-wage pressures, and US reaction to yen depreciation pose potential hurdles to market optimism.


Japan Strategy Weekly: Takaichi Trade Ignites Record Rally

Japan

FAST RETAILING CO., LTD. operates a chain of clothing stores, UNIQLO, throughout Japan and in other markets overseas including UK, China, Hong Kong, South Korea, US, France, Singapore and Russia.  The Company designs, manufactures, and retails its own line of casual clothing.

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Fast Retailing (9983 JP)

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Ohayo Japan | Bitcoin Bounce Lifts Stocks

Stocks rebounded on positive crypto and AI momentum, upbeat guidance from Microchip. Uniqlo Japan's November sales rose 7.6%, supporting profit...

Mark Chadwick

The Great Divide: Fashion Retail’s Oligopoly

Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...

Michael Causton

Japan Strategy Weekly | Global Jitters Spread

Japanese markets experienced a shift from exuberance to caution in just one week, with Retail sector outperforming and showing strong business...

Mark Chadwick

Japan Strategy Weekly: Takaichi Trade Ignites Record Rally

Japanese stocks surge on hopes of stimulus under new PM, led by infrastructure and tech gains, but political risks and inflation concerns loom.

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Ohayo Japan | Bitcoin Bounce Lifts Stocks

​Stocks rebounded on positive crypto and AI momentum, upbeat guidance from Microchip. Uniqlo Japan's November sales rose 7.6%, supporting profit...

Mark Chadwick

The Great Divide: Fashion Retail’s Oligopoly

​Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...

Michael Causton

Japan Strategy Weekly | Global Jitters Spread

​Japanese markets experienced a shift from exuberance to caution in just one week, with Retail sector outperforming and showing strong business...

Mark Chadwick

Japan Strategy Weekly: Takaichi Trade Ignites Record Rally

​Japanese stocks surge on hopes of stimulus under new PM, led by infrastructure and tech gains, but political risks and inflation concerns loom.

Mark Chadwick

Stocks rebounded on positive crypto and AI momentum, upbeat guidance from Microchip. Uniqlo Japan's November sales rose 7.6%, supporting profit...

Japanese clothing market dominated by top 100 retailers in FY2024-25, with top 10 owning 34% in specialty market, solidifying oligopoly. Leaders...

Japanese markets experienced a shift from exuberance to caution in just one week, with Retail sector outperforming and showing strong business...

Japanese stocks surge on hopes of stimulus under new PM, led by infrastructure and tech gains, but political risks and inflation concerns loom.