Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Globalfoundries +16% after a solid beat which shows gains from diversification into silicon photonics and low earth orbit satellites.</li>
<li>GS talking up Sandisk +10.7%, but expect the market to remains jittery ahead of Kioxia numbers today on the close.</li>
<li>Sumco headline numbers miss, but cost front loading and inventory reductions points to a better 2H.</li>
</ul>


Globalfoundries +16% after a solid beat which shows gains from diversification into silicon photonics and low earth orbit satellites.
GS talking up Sandisk +10.7%, but expect the market to remains jittery ahead of Kioxia numbers today on the close.
Sumco headline numbers miss, but cost front loading and inventory reductions points to a better 2H.


Japan Morning Connection: Semi-Cap Jumps Higher While Software Takes a Hit (Again) Over AI Concerns

<ul>
<li>Software stocks rebound which is going to be seen in JP also. NEC still looking very oversold.</li>
<li>Wire and cable names in Japan posted strong gains into the close - set to connect higher still.</li>
<li>Micron out of NVDA Rubin HBM4 supply chain; Kioxia -10% from its highs yesterday  may be pre-earnings jitters.</li>
</ul>


Software stocks rebound which is going to be seen in JP also. NEC still looking very oversold.
Wire and cable names in Japan posted strong gains into the close - set to connect higher still.
Micron out of NVDA Rubin HBM4 supply chain; Kioxia -10% from its highs yesterday  may be pre-earnings jitters.


Japan Morning Connection: Takaichi Promising Fiscal Responsibility + Tax Cut Combo

<ul>
<li>Meta, Tesla and Microsoft all post big capex guidance beats which sets strong tone for JP SPE.</li>
<li>Lam Research numbers beat, while Advantest AH yesterday knocked it out of the park.</li>
<li>Seagate +19% will add fuel to the fire for HDD components and memory names.</li>
</ul>


Meta, Tesla and Microsoft all post big capex guidance beats which sets strong tone for JP SPE.
Lam Research numbers beat, while Advantest AH yesterday knocked it out of the park.
Seagate +19% will add fuel to the fire for HDD components and memory names.


Japan Morning Connection: Huge Earnings After Hours All Point to Increased AI Capex Spending

<ul>
<li>Seagate AH beats but stock slightly lower after its 500% gains since April.</li>
<li>Corning tie-up with Meta sends its 15.6% highs and sets a strong tone for JP wire and cable plays.</li>
<li>TXN +10% AH after earnings showed demand for industrial equipment and vehicles is beginning to rebound.</li>
</ul>


Seagate AH beats but stock slightly lower after its 500% gains since April.
Corning tie-up with Meta sends its 15.6% highs and sets a strong tone for JP wire and cable plays.
TXN +10% AH after earnings showed demand for industrial equipment and vehicles is beginning to rebound.


Japan Morning Connection: Micron Expanding NAND Capacity Does Little to Dent Sentiment for Peers

<ul>
<li>Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.</li>
<li>JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.</li>
<li>Quantum names all strong on good numbers, but will Socionext catch on this time?</li>
</ul>


Sandisk up as NAND prices continue to surge, expect Kioxia to run also with recent Bain sale cleared.
JP factory automation names surged yesterday, but there are likely more gains yet as the next leg for AI.
Quantum names all strong on good numbers, but will Socionext catch on this time?


Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

Japan

FUJI ELECTRIC CO.,LTD manufactures electric machinery and electronic devices. The Company's products include automatic vending machines, factory automation equipment, and power supplies, as well as information and electronic components such as power semiconductors and integrated circuits (ICs).

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Fuji Electric (6504 JP)

Japan Morning Connection: Semi-Cap Jumps Higher While Software Takes a Hit (Again) Over AI Concerns

Sumco likely to see a sharp drop to start. Power semi's doing well yesterday a positive for related JP names today. Wealth management and R/E...

Andrew Jackson

Japan Morning Connection: Takaichi Promising Fiscal Responsibility + Tax Cut Combo

Takaichi manages to thread the needle (so far) with promises of fiscal responsibility + tax cut combo. Chipmakers painted in a positive light....

Andrew Jackson

Japan Morning Connection: Huge Earnings After Hours All Point to Increased AI Capex Spending

Meta is surging +11% after reporting 1Q sales guidance. Tesla plans to invest $2bn in Musk’s xAI. Expect whole SPE ecosystem in Japan to be sharply...

Andrew Jackson

Japan Morning Connection: Micron Expanding NAND Capacity Does Little to Dent Sentiment for Peers

Upbeat tone for Japan power and semi makers set by US peers. Market will be expecting Fanuc to be a major 'physical AI' play.

Andrew Jackson

Japan Morning Connection: Memory Back on and Micron Steps Back from Consumer to Focus on Enterprise

A rotation back towards larger cap names and Memory made a bit of a comeback after a few down days. Quantum computing names are back in favor after...

Andrew Jackson

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