Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Equity Capital Markets

<ul>
<li>There is a Company in the Japanese automotive and industrial sector owned and controlled by a major OEM, with a merger in the cards. Terms were proposed early last June.</li>
<li>The OEM agreed to buy assets from the Company post-merger. It is injecting capital in the form of equity and pref shares. It has thrown minority investors under the bus.</li>
<li>That company is not Toyota Industries. But unlike the up-front-and-done indignity suffered by TICO shareholders, Hino’s shareholders may suffer continuing indignity. Merger incoming. Enormous overhang imminent.</li>
</ul>


There is a Company in the Japanese automotive and industrial sector owned and controlled by a major OEM, with a merger in the cards. Terms were proposed early last June.
The OEM agreed to buy assets from the Company post-merger. It is injecting capital in the form of equity and pref shares. It has thrown minority investors under the bus.
That company is not Toyota Industries. But unlike the up-front-and-done indignity suffered by TICO shareholders, Hino’s shareholders may suffer continuing indignity. Merger incoming. Enormous overhang imminent.


[Japan M&A] ARCHION (Hino+MFTBC) Merger Incoming; Still a Re-IPO, Still Rich

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Intel keeping the tech tape green on the news it has also reached out to TSMC for partnership</li>
<li>Memory names seeing further profit taking while filing shows Toshiba has made a small sale of its Kioxia holdings.</li>
<li>Medtech and trucks the latest victims of tariff uncertainty after announcements overnight</li>
</ul>


Intel keeping the tech tape green on the news it has also reached out to TSMC for partnership
Memory names seeing further profit taking while filing shows Toshiba has made a small sale of its Kioxia holdings.
Medtech and trucks the latest victims of tariff uncertainty after announcements overnight


Japan Morning Connection: AI and Tech Strength Cooling Ahead of Potential Govt Shutdown and EoQ

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>The logic behind the tariff is not just a slap in the face for a lot of other nations but also net imports over exports. </li>
<li>Companies benefitting from the globalization will suffer, and the ones with domestic-centric businesses with real assets in proximity may be less hurt. </li>
<li>This could accelerate the forming of new trading bloc that may change the current world order. </li>
</ul>


The logic behind the tariff is not just a slap in the face for a lot of other nations but also net imports over exports. 
Companies benefitting from the globalization will suffer, and the ones with domestic-centric businesses with real assets in proximity may be less hurt. 
This could accelerate the forming of new trading bloc that may change the current world order. 


<ul>
<li>Tech is off the menu for most as CoreWeave shakes AI sentiment further.</li>
<li>Japanese autos largely priced in the tariff news yesterday, although big dividends up for grabs may see renewed interest.</li>
<li>Japan set for another day of duck-and-cover with the rotation back towards domestic defensive set to continue.</li>
</ul>


Tech is off the menu for most as CoreWeave shakes AI sentiment further.
Japanese autos largely priced in the tariff news yesterday, although big dividends up for grabs may see renewed interest.
Japan set for another day of duck-and-cover with the rotation back towards domestic defensive set to continue.


Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

<ul>
<li>Lam Research and KLA carrying on from ASML beat earlier in the week: positive for JP SPE.</li>
<li>Intel trading better after hours with earnings not a horrible as feared may help JP suppliers.</li>
<li>IBM beat on its transition to services and AI offerings should help JP IT such as Fujitsu, as well as NEC and NRI who also reported yesterday.</li>
</ul>


Lam Research and KLA carrying on from ASML beat earlier in the week: positive for JP SPE.
Intel trading better after hours with earnings not a horrible as feared may help JP suppliers.
IBM beat on its transition to services and AI offerings should help JP IT such as Fujitsu, as well as NEC and NRI who also reported yesterday.


Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

Japan

HINO MOTORS, LTD. develops, manufactures and markets diesel buses and trucks. The Company also produces heavy duty trucks, special purpose vehicles, and diesel engines for industrial and marine applications.

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Hino Motors Ltd (7205 JP)

[Japan M&A] ARCHION (Hino+MFTBC) Merger Incoming; Still a Re-IPO, Still Rich

Hino released Q3 earnings and revised guidance on 29 Jan. Looks good. Half of uplift is FX effect, still conservative. NP higher on HOTAI Motor...

Travis Lundy

Japan Morning Connection: AI and Tech Strength Cooling Ahead of Potential Govt Shutdown and EoQ

Memory names took a leg lower, setting a poor tone for JP peers. Medtech names took a hit with potential tarriffs and price capping pressures.

Andrew Jackson

Tariff: New World Order?

Tariffs could shift global trade dynamics, favoring domestic-focused companies and potentially leading to the formation of new trading blocs.

Henry Soediarko

Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Andrew Jackson

Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Japan M&A] ARCHION (Hino+MFTBC) Merger Incoming; Still a Re-IPO, Still Rich

Hino released Q3 earnings and revised guidance on 29 Jan. Looks good. Half of uplift is FX effect, still conservative. NP higher on HOTAI Motor...

Travis Lundy

Japan Morning Connection: AI and Tech Strength Cooling Ahead of Potential Govt Shutdown and EoQ

Memory names took a leg lower, setting a poor tone for JP peers. Medtech names took a hit with potential tarriffs and price capping pressures.

Andrew Jackson

Tariff: New World Order?

​Tariffs could shift global trade dynamics, favoring domestic-focused companies and potentially leading to the formation of new trading blocs.

Henry Soediarko

Japan Morning Connection: US Auto Tariffs Shaking Markets but Ex-Date May Lure Buyers Back in Japan

​CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Andrew Jackson

Japan Morning Connection: Semi Rebound with Good Earnings from Semi-Cap Majors

​Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...

Andrew Jackson

Tariffs could shift global trade dynamics, favoring domestic-focused companies and potentially leading to the formation of new trading blocs.

CoreWeave's announcement drives AI sentiment down further. May see renewed interest in Japanese autos today. Expecting Japan to continue rotation...

Positive earnings reports from Lam Research and KLA bode well for JP SPE. Intel earnings better than feared may help JP suppliers. IBM beat may...