Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of NIKKEI 225 in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Advantest, Kioxia, Fujikura, Tokyo Electron, TDK, ARCHION, Nippon Yusen Kabushiki Kaisha, Mitsubishi Materials.</li>
</ul>


We analysed the earning revision of component stocks of NIKKEI 225 in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Advantest, Kioxia, Fujikura, Tokyo Electron, TDK, ARCHION, Nippon Yusen Kabushiki Kaisha, Mitsubishi Materials.


NIKKEI 225 Index Earning Revision (Sep): Advantest, Kioxia, Fujikura, Tokyo Electron, TDK, ARCHION

<ul>
<li>We analysed the earning revision of component stocks of MS-Japan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Toyota Motor, Nippon Yusen Kabushiki Kaisha, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Recruit, Mitsubishi Chemical.</li>
</ul>


We analysed the earning revision of component stocks of MS-Japan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Toyota Motor, Nippon Yusen Kabushiki Kaisha, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Recruit, Mitsubishi Chemical.


MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<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>Teradyne +19% in AH trading after blowout numbers. Tokyo Seimitsu over Advantest.</li>
<li>OpenAI looking elsewhere for computational power; Sam Altman calms the waters on X.</li>
<li>Toyo Engineering finds rare earths. Off limit up yday on forced margin covering, but it will be back up there today.</li>
</ul>


Teradyne +19% in AH trading after blowout numbers. Tokyo Seimitsu over Advantest.
OpenAI looking elsewhere for computational power; Sam Altman calms the waters on X.
Toyo Engineering finds rare earths. Off limit up yday on forced margin covering, but it will be back up there today.


Japan Morning Connection: Appetite for Risk Ticking Higher as Precious Metals Stabilize

<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

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)

NIKKEI 225 Index Earning Revision (Sep): Advantest, Kioxia, Fujikura, Tokyo Electron, TDK, ARCHION

We analyzed NIKKEI 225's consensus for Sep 2026 and highlighted changes of EPS in Advantest, Kioxia, Fujikura, Tokyo Electron, TDK, ARCHION, Nippon...

Ke Yan, CFA, FRM

MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

We analyzed MS-Japan's consensus for Sep 2026 and highlighted changes of EPS in Toyota Motor (7203 JP), Nippon Yusen Kabushiki Kaisha (9101 JP),...

Ke Yan, CFA, FRM

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: Appetite for Risk Ticking Higher as Precious Metals Stabilize

Tech higher led by Sandisk. AI and analog/power semis climb higher. A positive tone for Japan's testers; Tokyo Seimitsu has the potential to gain...

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

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