Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>QD Laser (6613 JP) was +7.15% yesterday but may continue to get a lift with US optical/phonetic related names outperforming.</li>
<li>A dour tone for Fujitsu Ltd (6702 JP) and NEC Corp (6701 JP) etc, especially with a switch to a more risk-on footing in the wings.</li>
<li>Oil and gas infra names did better overnight, so may get a follow through for Chiyoda Corp (6366 JP) and Jgc Corp (1963 JP).</li>
</ul>


QD Laser (6613 JP) was +7.15% yesterday but may continue to get a lift with US optical/phonetic related names outperforming.
A dour tone for Fujitsu Ltd (6702 JP) and NEC Corp (6701 JP) etc, especially with a switch to a more risk-on footing in the wings.
Oil and gas infra names did better overnight, so may get a follow through for Chiyoda Corp (6366 JP) and Jgc Corp (1963 JP).


Japan Morning Connection: Fading Oil Sets a Positive Tone for Risk-On Tech, Airlines and Shippers

<ul>
<li>Oracle +10% AH after numbers showed strong gains for their Infra business and disciplined capex spending.</li>
<li>AT&amp;T looking to spend $250bn over 5-years to modernize networks will help the wire and cable plays.</li>
<li>The US running through its supplies of ordinance should help Japan's mainstay missile developers such as MHI.</li>
</ul>


Oracle +10% AH after numbers showed strong gains for their Infra business and disciplined capex spending.
AT&amp;T looking to spend $250bn over 5-years to modernize networks will help the wire and cable plays.
The US running through its supplies of ordinance should help Japan's mainstay missile developers such as MHI.


Japan Morning Connection: Markets Finished Well off Their Highs Given Mixed Signals from the WH

<ul>
<li>AI lower with the US looking to impose global AI chip sales permits, although memory rallied in a general rotation to laggards.</li>
<li>Broadcom CEO throwing cold water on DC optical connectivity 'scale-up', sending Corning, Lumentum and Coherent lower setting a dour tone for JP cable plays.</li>
<li>Kioxia and PPIH make it into the NKY225, which Advantest gets capped as expected. Small surprise for Kioxia, but ADV is low for all.</li>
</ul>


AI lower with the US looking to impose global AI chip sales permits, although memory rallied in a general rotation to laggards.
Broadcom CEO throwing cold water on DC optical connectivity 'scale-up', sending Corning, Lumentum and Coherent lower setting a dour tone for JP cable plays.
Kioxia and PPIH make it into the NKY225, which Advantest gets capped as expected. Small surprise for Kioxia, but ADV is low for all.


Japan Morning Connection: Oil Spike Starting to Bite with Airlines Tumbling on the Outlook for Fuel

<ul>
<li>NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.</li>
<li>Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.</li>
<li>Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.</li>
</ul>


NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.
Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.
Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.


Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

Japan Specialist

Mark Chadwick

<ul>
<li>Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.</li>
<li>The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. </li>
<li>Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.</li>
</ul>


Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.
The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. 
Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.


Japan Strategy Weekly | The AI Age Plumber

Japan

Furukawa Electric Co., Ltd. manufactures wires, cables, and metal products. The Company holds patents in optical fiber coating technology and produces optical fiber cables in the United States.  Furukawa Electric's metal products include aluminum cans, air conditioner parts, and shape memory alloys.

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Furukawa Electric (5801 JP)

Japan Morning Connection: Fading Oil Sets a Positive Tone for Risk-On Tech, Airlines and Shippers

Oil fading at the open sets a positive tone for risk on tech, airlines and shippers, while optical names continue to surge on data center order...

Andrew Jackson

Japan Morning Connection: Markets Finished Well off Their Highs Given Mixed Signals from the WH

Markets finished well off their highs given mixed signals from the WH, but managed to hold small gains. Tech and AI performed best amidst the...

Andrew Jackson

Japan Morning Connection: Oil Spike Starting to Bite with Airlines Tumbling on the Outlook for Fuel

Shippers were lower globally after a slightly better day in Asia yesterday. Big drops for US airlines. Continues to look good for long 9202 ANA vs...

Andrew Jackson

Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

Markets were surprisingly calm overnight with tech and AI hardly skipping a beat in the face of war in Iran. Airlines were lower with dented demand...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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Japan Morning Connection: Fading Oil Sets a Positive Tone for Risk-On Tech, Airlines and Shippers

Oil fading at the open sets a positive tone for risk on tech, airlines and shippers, while optical names continue to surge on data center order...

Andrew Jackson

Japan Morning Connection: Markets Finished Well off Their Highs Given Mixed Signals from the WH

Markets finished well off their highs given mixed signals from the WH, but managed to hold small gains. Tech and AI performed best amidst the...

Andrew Jackson

Japan Morning Connection: Oil Spike Starting to Bite with Airlines Tumbling on the Outlook for Fuel

Shippers were lower globally after a slightly better day in Asia yesterday. Big drops for US airlines. Continues to look good for long 9202 ANA vs...

Andrew Jackson

Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

Markets were surprisingly calm overnight with tech and AI hardly skipping a beat in the face of war in Iran. Airlines were lower with dented demand...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

​Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...