Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Murata Manufacturing / Equity Capital Markets

<ul>
<li>A group of shareholders aim to raise around US$900m via selling around 3% of <a href="https://www.smartkarma.com/entities/murata-manufacturing-co-ltd" target="_blank" data-smartkarma-citation="entities:11649:1" rel="noopener">Murata Manufacturing (6981 JP)</a>, in another cross-shareholding selldown.</li>
<li>The company’s shares haven’t done much over the past few years and recent share price performance as well hasn’t been the best</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


A group of shareholders aim to raise around US$900m via selling around 3% of Murata Manufacturing (6981 JP), in another cross-shareholding selldown.
The company’s shares haven’t done much over the past few years and recent share price performance as well hasn’t been the best
In this note, we will talk about the placement and run the deal through our ECM framework.


Murata Manufacturing Placement - Recent Momentum Isn’t Particularly Strong

Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Intel's Panther Lake chip set to drive growth in AI PC market and spark resurgence in semiconductor foundry industry by second half of 2025.</li><li>Rapidus to provide 2nm chip samples to Broadcom, highlighting advancements in semiconductor technology and potential for increased performance.</li><li>Taiwanese companies eye opportunities in expanding renewable energy market in the Philippines, showcasing interest in sustainable business practices. CES 2025 sees Nvidia unveiling robot collaborations while concerns emerge over South Korea's absence. Honda and Sony face uncertainty as Afeela 1 debuts, while Tata Elxsi and Qualcomm team up to develop virtual models of Snapdragon Digital Chassis solutions. UK-Taiwan tech partnerships strengthen as British Representative to Taiwan concludes term, reflecting deepening alliance between the two countries.</li></ul>

Intel's Panther Lake chip set to drive growth in AI PC market and spark resurgence in semiconductor foundry industry by second half of 2025.Rapidus to provide 2nm chip samples to Broadcom, highlighting advancements in semiconductor technology and potential for increased performance.Taiwanese companies eye opportunities in expanding renewable energy market in the Philippines, showcasing interest in sustainable business practices. CES 2025 sees Nvidia unveiling robot collaborations while concerns emerge over South Korea's absence. Honda and Sony face uncertainty as Afeela 1 debuts, while Tata Elxsi and Qualcomm team up to develop virtual models of Snapdragon Digital Chassis solutions. UK-Taiwan tech partnerships strengthen as British Representative to Taiwan concludes term, reflecting deepening alliance between the two countries.

Tech Supply Chain Tracker (11-Jan-2025): Intel's Panther Lake boosts AI PC growth, foundry recovery by 2H25.

<ul><li>AI server BBU status being monitored to ensure no issues on the artificial intelligence server, ensuring smooth operations.</li><li>TSMC's global update highlights Japan, US, and Europe's progress, showcasing Taiwan's chip giant's influence worldwide.</li><li>Xiaomi investing in GPU cluster for faster processing, China's Hua Hong appoints Intel veteran as President, South Korea investing $24.79 million in chip R&amp;D projects.</li></ul>

AI server BBU status being monitored to ensure no issues on the artificial intelligence server, ensuring smooth operations.TSMC's global update highlights Japan, US, and Europe's progress, showcasing Taiwan's chip giant's influence worldwide.Xiaomi investing in GPU cluster for faster processing, China's Hua Hong appoints Intel veteran as President, South Korea investing $24.79 million in chip R&amp;D projects.

Tech Supply Chain Tracker (03-Jan-2025): Check AI server BBU status.

Luxshare Precision Industry / Equity Bottom-Up

<ul><li>Potential Huawei sanctions under a reelected Trump administration could spell trouble for Chinese tech companies.</li><li>Luxshare's acquisition of nine Wingtech ODM subsidiaries indicates a consolidation trend in the tech manufacturing industry.</li><li>The 2025 semiconductor boom is expected to be fueled by AI technology, but could face volatility due to Trump-era policies.</li></ul>

Potential Huawei sanctions under a reelected Trump administration could spell trouble for Chinese tech companies.Luxshare's acquisition of nine Wingtech ODM subsidiaries indicates a consolidation trend in the tech manufacturing industry.The 2025 semiconductor boom is expected to be fueled by AI technology, but could face volatility due to Trump-era policies.

Tech Supply Chain Tracker (01-Jan-2025): Trump could bring back Huawei sanctions 2.0

Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Japan's markets displayed resilience this week, with the Nikkei 225 surging 4% and the Topix climbing 3.7%, buoyed by a weaker yen that bolstered exporter gains</li>
<li>Honda’s stock soared 25% this week, driven by the announcement of a massive share buyback of up to ¥1.1 trillion</li>
<li>Sega Sammy’s stock surged 18% this week, fueled by the stellar box office performance of the film Sonic × Shadow</li>
</ul>


Japan's markets displayed resilience this week, with the Nikkei 225 surging 4% and the Topix climbing 3.7%, buoyed by a weaker yen that bolstered exporter gains
Honda’s stock soared 25% this week, driven by the announcement of a massive share buyback of up to ¥1.1 trillion
Sega Sammy’s stock surged 18% this week, fueled by the stellar box office performance of the film Sonic × Shadow


Japan Weekly | Market Resilience - Honda, MMC, Sega

Japan

Honda Motor Co., Ltd. develops, manufactures, and distributes motorcycles, automobiles, and power products such as generators and farm machinery. The Company also operates a financial credit business.  Honda Motor has manufacturing facilities in the US, Canada, the UK, France, Italy, Spain, Brazil, Mexico, India, and Thailand.

Price Gauge
52-week Range	0.00 - 0.00
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Honda Motor Co Ltd (Adr) (HMC US)

Murata Manufacturing Placement - Recent Momentum Isn’t Particularly Strong

A group of shareholders aim to raise around US$900m via selling around 3% of Murata Manufacturing (6981 JP), in another cross-shareholding selldown.

Sumeet Singh

Tech Supply Chain Tracker (11-Jan-2025): Intel's Panther Lake boosts AI PC growth, foundry recovery by 2H25.

Intel's Panther Lake drives AI PC growth, Rapidus supplies 2nm chips to Broadcom, Taiwanese firms eye Philippines' renewable energy market,...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (03-Jan-2025): Check AI server BBU status.

Global AI and chip industry updates: TSMC flourishing, Xiaomi investing in LLM, Hua Hong's new President, South Korea's R&D projects, Micron's...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Jan-2025): Trump could bring back Huawei sanctions 2.0

Potential Huawei sanctions if Trump remains in office, Luxshare acquisition of Wingtech ODM subsidiaries, 2025 semiconductor growth driven by AI,...

Tech Supply Chain Tracker

Japan Weekly | Market Resilience - Honda, MMC, Sega

Japanese markets showed strong resilience this week, with the Nikkei 225 and Topix both climbing significantly, boosted by a weaker yen benefiting...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Murata Manufacturing Placement - Recent Momentum Isn’t Particularly Strong

A group of shareholders aim to raise around US$900m via selling around 3% of Murata Manufacturing (6981 JP), in another cross-shareholding selldown.

Sumeet Singh

Tech Supply Chain Tracker (11-Jan-2025): Intel's Panther Lake boosts AI PC growth, foundry recovery by 2H25.

Intel's Panther Lake drives AI PC growth, Rapidus supplies 2nm chips to Broadcom, Taiwanese firms eye Philippines' renewable energy market,...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (03-Jan-2025): Check AI server BBU status.

Global AI and chip industry updates: TSMC flourishing, Xiaomi investing in LLM, Hua Hong's new President, South Korea's R&D projects, Micron's...

Tech Supply Chain Tracker

Tech Supply Chain Tracker (01-Jan-2025): Trump could bring back Huawei sanctions 2.0

Potential Huawei sanctions if Trump remains in office, Luxshare acquisition of Wingtech ODM subsidiaries, 2025 semiconductor growth driven by AI,...

Tech Supply Chain Tracker

Japan Weekly | Market Resilience - Honda, MMC, Sega

​Japanese markets showed strong resilience this week, with the Nikkei 225 and Topix both climbing significantly, boosted by a weaker yen benefiting...

Mark Chadwick

Japanese markets showed strong resilience this week, with the Nikkei 225 and Topix both climbing significantly, boosted by a weaker yen benefiting...