Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Good numbers from Analog Devices pointing to a bottom should help likes of Rohm and Fuji Electric.</li>
<li>SMCI tear continues, will Nidec keep moving up after yesterdays gains?</li>
<li>Sanken Electric +10.45% yesterday finally starting to catch a bid on ALGM gains.</li>
</ul>


Good numbers from Analog Devices pointing to a bottom should help likes of Rohm and Fuji Electric.
SMCI tear continues, will Nidec keep moving up after yesterdays gains?
Sanken Electric +10.45% yesterday finally starting to catch a bid on ALGM gains.


Japan Morning Connection: Power/Analog Names Drive SOX Higher, Defence Down

<ul>
<li>Softbank racking up big losses in 3Q but market looking to Stargate.</li>
<li>Japanese cosmetics names continue to struggle with Kose missing after Shiseido the day before.</li>
<li>Toray's -12% drop yesterday looks excessive given the overall outlook remains buoyant.</li>
</ul>


Softbank racking up big losses in 3Q but market looking to Stargate.
Japanese cosmetics names continue to struggle with Kose missing after Shiseido the day before.
Toray's -12% drop yesterday looks excessive given the overall outlook remains buoyant.


Japan Morning Connection: Mixed Tape but Gains for Names to Benefit from a US Focused AI Industry

<ul>
<li>Coherent, SMCI, Entegris all posting solid gains, while Skyworks priced in its poor outlook for its Apple biz.</li>
<li>Monolithic as much as +19% post market setting a better tone for power/analog semi related. Renesas +12.6% yesterday also.</li>
<li>Tokyo Electron numbers mixed but positive overall and any weakness at the open a good chance for dip buying.</li>
</ul>


Coherent, SMCI, Entegris all posting solid gains, while Skyworks priced in its poor outlook for its Apple biz.
Monolithic as much as +19% post market setting a better tone for power/analog semi related. Renesas +12.6% yesterday also.
Tokyo Electron numbers mixed but positive overall and any weakness at the open a good chance for dip buying.


Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

<ul>
<li>Will we see more of the same ineffectual export curbs or a lightening of export restrictions?</li>
<li>Expect a continued rotation into all things non-tech in JP including Home Builders who jumped overnight as yields sank.</li>
<li>Plenty of shorts with ample downside including Hitachi, Fuji Elec, Hokkaido Elec outside of the mainstay AI plays.</li>
</ul>


Will we see more of the same ineffectual export curbs or a lightening of export restrictions?
Expect a continued rotation into all things non-tech in JP including Home Builders who jumped overnight as yields sank.
Plenty of shorts with ample downside including Hitachi, Fuji Elec, Hokkaido Elec outside of the mainstay AI plays.


Japan Morning Connection: US Tech Meltdown Set to Hit Japan AI/Tech Names Again

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Arm shifts focus to AI hardware, software, and ecosystem development beyond semiconductors.</li><li>Chinese state CRC acquires JCET, while Intel faces five crises with CEO departure.</li><li>Brightek partners with SiPhIA for automotive opportunities, as Chinese EV makers and European auto layoffs impact global supply chains.</li></ul>

Arm shifts focus to AI hardware, software, and ecosystem development beyond semiconductors.Chinese state CRC acquires JCET, while Intel faces five crises with CEO departure.Brightek partners with SiPhIA for automotive opportunities, as Chinese EV makers and European auto layoffs impact global supply chains.

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

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: Power/Analog Names Drive SOX Higher, Defence Down

Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Andrew Jackson

Japan Morning Connection: Mixed Tape but Gains for Names to Benefit from a US Focused AI Industry

Softbank faces significant losses but market will focus on Stargate. Kose follows Shiseido's miss. Toray's drop seems excessive given overall...

Andrew Jackson

Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

Skyworks priced in poor outlook for its Apple business. Market sets a better tone for power/anolog semi related. Any weakness in Tokyo Electron a...

Andrew Jackson

Japan Morning Connection: US Tech Meltdown Set to Hit Japan AI/Tech Names Again

Expect a continued shift away towards non-tech sectors, particularly home builders. Plenty of shorts with downside to consider.

Andrew Jackson

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

Arm expands focus beyond semiconductors to include AI hardware, software, and ecosystem development; Intel faces crises, Brightek joins SiPhIA,...

Tech Supply Chain Tracker

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Power/Analog Names Drive SOX Higher, Defence Down

​Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Andrew Jackson

Japan Morning Connection: Mixed Tape but Gains for Names to Benefit from a US Focused AI Industry

​Softbank faces significant losses but market will focus on Stargate. Kose follows Shiseido's miss. Toray's drop seems excessive given overall...

Andrew Jackson

Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

Skyworks priced in poor outlook for its Apple business. Market sets a better tone for power/anolog semi related. Any weakness in Tokyo Electron a...

Andrew Jackson

Japan Morning Connection: US Tech Meltdown Set to Hit Japan AI/Tech Names Again

Expect a continued shift away towards non-tech sectors, particularly home builders. Plenty of shorts with downside to consider.

Andrew Jackson

Tech Supply Chain Tracker (04-Dec-2024): Arm targets AI hardware, software, ecosystem.

Arm expands focus beyond semiconductors to include AI hardware, software, and ecosystem development; Intel faces crises, Brightek joins SiPhIA,...

Tech Supply Chain Tracker

Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Softbank faces significant losses but market will focus on Stargate. Kose follows Shiseido's miss. Toray's drop seems excessive given overall...