Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Softbank set to gap and run with ARM +10.5% and OpenAI reaching a $850bn valuation.</li>
<li>Aehr Test +23% on a major new data center customer, a positive read for Advantest, Micronics and Teraprobe after heavy selling last week.</li>
<li>Upside for airlines on the prospect for lower oil and increased travel.</li>
</ul>


Softbank set to gap and run with ARM +10.5% and OpenAI reaching a $850bn valuation.
Aehr Test +23% on a major new data center customer, a positive read for Advantest, Micronics and Teraprobe after heavy selling last week.
Upside for airlines on the prospect for lower oil and increased travel.


Japan Morning Connection: Iran Heads to the Negotiating Table Sending Markets Sharply Higher

<ul>
<li>AI and tech led knee-jerk gains higher. Outperforming optical and photonic names should help QD Laser (6613 JP) after its -16% tumble yesterday.</li>
<li>Yesterday Toyo Engineering (6330 JP) was limit down -19.3% and Chiyoda Corp (6366 JP) -12.4% but both names are ripe for a solid rebound.</li>
<li>With increasingly high yields, the affordability crisis continues and homebuilders will continue to underperform - as will Sumitomo Forestry (1911 JP).</li>
</ul>


AI and tech led knee-jerk gains higher. Outperforming optical and photonic names should help QD Laser (6613 JP) after its -16% tumble yesterday.
Yesterday Toyo Engineering (6330 JP) was limit down -19.3% and Chiyoda Corp (6366 JP) -12.4% but both names are ripe for a solid rebound.
With increasingly high yields, the affordability crisis continues and homebuilders will continue to underperform - as will Sumitomo Forestry (1911 JP).


Japan Morning Connection: Oil and Gas Infrastructure Names Ripe for a Solid Rebound

<ul>
<li>MS downgrades PC makers on risk high memory prices eat into margins.</li>
<li>China angst against Takaichi TW comments will cause JP rails, hotels etc. to fall further.</li>
<li>Advantest CEO meeting yesterday unlikely enough to appease investor demands after huge run.</li>
</ul>


MS downgrades PC makers on risk high memory prices eat into margins.
China angst against Takaichi TW comments will cause JP rails, hotels etc. to fall further.
Advantest CEO meeting yesterday unlikely enough to appease investor demands after huge run.


Japan Morning Connection: Tech Skittish Ahead of NVDA but Memory Continues to Run

'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<div><p style="text-align: center;"><strong>• BEST &amp; WORST •</strong></p></div><div>
<p>Monday's 'best' and 'worst' larger-cap announcements came from <a href="https://www.smartkarma.com/entities/kobe-bussan-co-ltd" target="_blank" data-smartkarma-citation="entities:4701:1" rel="noopener">Kobe Bussan (3038 JP)</a> and <a href="https://www.smartkarma.com/entities/park24-co-ltd" target="_blank" data-smartkarma-citation="entities:5622:1" rel="noopener">Park24 (4666 JP)</a>. In addition, <a href="https://www.smartkarma.com/entities/mitsui-high-tec-inc" target="_blank" data-smartkarma-citation="entities:10289:1" rel="noopener">Mitsui High Tec (6966 JP)</a> continues to perform well while <a href="https://www.smartkarma.com/entities/h-i-s-co-ltd" target="_blank" data-smartkarma-citation="entities:19311:1" rel="noopener">HIS Co Ltd (9603 JP)</a> saw an 8% fall in revenues for the quarter. For more, see the<strong> DETAIL</strong> section below.</p>
<section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/194/652/original/2021-03-16_06-34-24.png?1615844084" class="editor-image img-responsive" data-smartkarma-image-id="194652"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/194/653/original/2021-03-16_06-39-20.png?1615844373" class="editor-image img-responsive" data-smartkarma-image-id="194653"></figure></section><section class="figure"><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/194/655/original/2021-03-16_06-40-03.png?1615844419" class="editor-image img-responsive" data-smartkarma-image-id="194655"></figure></section><p></p>
</div>

• BEST &amp; WORST •
Monday's 'best' and 'worst' larger-cap announcements came from Kobe Bussan (3038 JP) and Park24 (4666 JP). In addition, Mitsui High Tec (6966 JP) continues to perform well while HIS Co Ltd (9603 JP) saw an 8% fall in revenues for the quarter. For more, see the DETAIL section below.



🇯🇵 JAPAN • Results & Revisions 03/​15 -  Kobe Bussan & Park24

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<p>Our bullish outlook remains intact and is supported by the absence of breakdowns across major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) and ongoing positive market dynamics. Until this changes, we believe global equities are headed higher in the coming weeks and months.</p>

Our bullish outlook remains intact and is supported by the absence of breakdowns across major global indexes (MSCI ACWI, ACWI ex-US, EM, and EAFE) and ongoing positive market dynamics. Until this changes, we believe global equities are headed higher in the coming weeks and months.

Global Equity Strategy: Stick With Reflation & Reopening Theme

Japan

H.I.S. Co., Ltd. is a travel agency dealing with overseas bookings, package tours, and air courier services.  The Company also sells discount airline tickets.  H.I.S. operates subsidiaries in the United States, the United Kingdom, and Germany.

Price Gauge
52-week Range	0.00 - 0.00
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H.I.S. Co (9603 JP)

Japan Morning Connection: Iran Heads to the Negotiating Table Sending Markets Sharply Higher

Japan set for a positive open as Iran deal hopes send oil lower and markets anticipate a return to normal travel and shipping through the Straits.

Andrew Jackson

Japan Morning Connection: Oil and Gas Infrastructure Names Ripe for a Solid Rebound

Path to a Gulf ceasefire lifts sentiment, with Toyo Engineering and Chiyoda Corp ripe for rebound. Airlines and homebuilders see some relief.

Andrew Jackson

Japan Morning Connection: Tech Skittish Ahead of NVDA but Memory Continues to Run

JP SPE rebound momentum likely to drop out following the shaky lead overnight. JR rails and hotel names may trade down following tensions with...

Andrew Jackson

🇯🇵 JAPAN • Results & Revisions 03/15 - Kobe Bussan & Park24

Monday's 'best' and 'worst' larger-cap announcements came from Kobe Bussan (3038 JP) and Park24 (4666 JP)....................................

Campbell Gunn

Global Equity Strategy: Stick With Reflation & Reopening Theme

Our bullish outlook remains intact supported by the absence of breakdowns across major global indexes. Until this changes, we believe global...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Iran Heads to the Negotiating Table Sending Markets Sharply Higher

Japan set for a positive open as Iran deal hopes send oil lower and markets anticipate a return to normal travel and shipping through the Straits.

Andrew Jackson

Japan Morning Connection: Oil and Gas Infrastructure Names Ripe for a Solid Rebound

Path to a Gulf ceasefire lifts sentiment, with Toyo Engineering and Chiyoda Corp ripe for rebound. Airlines and homebuilders see some relief.

Andrew Jackson

Japan Morning Connection: Tech Skittish Ahead of NVDA but Memory Continues to Run

JP SPE rebound momentum likely to drop out following the shaky lead overnight. JR rails and hotel names may trade down following tensions with...

Andrew Jackson

🇯🇵 JAPAN • Results & Revisions 03/​15 - Kobe Bussan & Park24

Monday's 'best' and 'worst' larger-cap announcements came from Kobe Bussan (3038 JP) and Park24 (4666 JP)....................................

Campbell Gunn

Global Equity Strategy: Stick With Reflation & Reopening Theme

Our bullish outlook remains intact supported by the absence of breakdowns across major global indexes. Until this changes, we believe global...

Vermilion Research

🇯🇵 JAPAN • Results & Revisions 03/15 - Kobe Bussan & Park24