Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech rebound into NVDA print, which came in slightly ahead of estimates. Server related up on SMCI gains.</li>
<li>Expect this to be enough to spark dip buying for Japan SPE plays such as TEL, Disco, as well as likes of Fujikura and MHI.</li>
<li>Hoya has bottomed in the last 2-days and looks primed for more upside after excessive weakness.</li>
</ul>


Tech rebound into NVDA print, which came in slightly ahead of estimates. Server related up on SMCI gains.
Expect this to be enough to spark dip buying for Japan SPE plays such as TEL, Disco, as well as likes of Fujikura and MHI.
Hoya has bottomed in the last 2-days and looks primed for more upside after excessive weakness.


Japan Morning Connection: NVDA Results Enough to Quell Concerns over AI Slowdown

<ul>
<li>Huge print from ASML set a positive tone, but the potential for tighter NVDA restrictions weighed on sentiment.</li>
<li>Big selling for Corning off the highs as guidance not enough to justify the run... may see weakness in Fujikura and Furukawa.</li>
<li>Strong numbers from Advantest will also help sentiment for Japan SPE.</li>
</ul>


Huge print from ASML set a positive tone, but the potential for tighter NVDA restrictions weighed on sentiment.
Big selling for Corning off the highs as guidance not enough to justify the run... may see weakness in Fujikura and Furukawa.
Strong numbers from Advantest will also help sentiment for Japan SPE.


Japan Morning Connection: Mixed Signals from Tech and Semi's but After-Mkt Moves 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

<ul>
<li>Big gains in the US semi and DC related should translate into continued upside in Japan despite some BIG gains yesterday.</li>
<li>Wire and cable plays are all surging, yet the smaller side of the sector underperforms. Nidec good risk/reward into numbers.</li>
<li>HAMR rollout helping Seagate higher should also help memory/HDD component plays.</li>
</ul>


Big gains in the US semi and DC related should translate into continued upside in Japan despite some BIG gains yesterday.
Wire and cable plays are all surging, yet the smaller side of the sector underperforms. Nidec good risk/reward into numbers.
HAMR rollout helping Seagate higher should also help memory/HDD component plays.


Japan Morning Connection: AI Binge Buying Should Continue in Japan

<ul>
<li>Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.</li>
<li>EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.</li>
<li>Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.</li>
</ul>


Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.
EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.
Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.


Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Japan

Fujikura Ltd. manufactures and sells wires and cables such as optical fiber cables and coaxial cables. The Company's products include optical transmission system, electronic materials, and telecommunication cables.

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Fujikura Ltd (5803 JP)

Japan Morning Connection: NVDA Results Enough to Quell Concerns over AI Slowdown

Tech rebound into NVDA print slightly ahead of estimates may spark dip buying for Japan SPE. Hoya has bottomed in the last 2 days but looks primed...

Andrew Jackson

Japan Morning Connection: Mixed Signals from Tech and Semi's but After-Mkt Moves Pointing Higher

ASML's strong print boosts sentiment but weighed by NVDA restriction concerns. Corning off the highs; may see weakness in Fujikura and Furukara....

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

Japan Morning Connection: AI Binge Buying Should Continue in Japan

US gains in semiconductor and DC related should drive continued upside in Japan. Surges in wire and cable plays. HAMR rollout should boost memory...

Andrew Jackson

Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Rotation from momentum winners into oversold quality such as SPE, EU defense name strength may be positive for JP heavies, US power semi weakness...

Andrew Jackson

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: NVDA Results Enough to Quell Concerns over AI Slowdown

​Tech rebound into NVDA print slightly ahead of estimates may spark dip buying for Japan SPE. Hoya has bottomed in the last 2 days but looks primed...

Andrew Jackson

Japan Morning Connection: Mixed Signals from Tech and Semi's but After-Mkt Moves Pointing Higher

​ASML's strong print boosts sentiment but weighed by NVDA restriction concerns. Corning off the highs; may see weakness in Fujikura and Furukara....

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

Japan Morning Connection: AI Binge Buying Should Continue in Japan

US gains in semiconductor and DC related should drive continued upside in Japan. Surges in wire and cable plays. HAMR rollout should boost memory...

Andrew Jackson

Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Rotation from momentum winners into oversold quality such as SPE, EU defense name strength may be positive for JP heavies, US power semi weakness...

Andrew Jackson

Tech rebound into NVDA print slightly ahead of estimates may spark dip buying for Japan SPE. Hoya has bottomed in the last 2 days but looks primed...

ASML's strong print boosts sentiment but weighed by NVDA restriction concerns. Corning off the highs; may see weakness in Fujikura and Furukara....