Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>New smartphone offering from Micron lifts memory plays which may help EUV also.</li>
<li>Comments from Onsemi management that auto has turned the corner positive for Rohm, Fuji Elec, Renesas.</li>
<li>Kadokawa/Bandai Namco's Nightreign sells 3.5m copies in 4-days, plus a new DLC on the way.</li>
</ul>


New smartphone offering from Micron lifts memory plays which may help EUV also.
Comments from Onsemi management that auto has turned the corner positive for Rohm, Fuji Elec, Renesas.
Kadokawa/Bandai Namco's Nightreign sells 3.5m copies in 4-days, plus a new DLC on the way.


Japan Morning Connection: Coreweave +25% and Numbers from HP Enterprise Sets Positive Semi Tone

<ul>
<li>Watch for upside in names involved in HAMR drives such as TDK after positive comments from Seagate.</li>
<li>Rohm finally starting to get bucketed as an AI name could see significant upside after deep correction.</li>
<li>Quantum names continuing to surge with huge moves in IonQ and D-Wave sets positive tone for Socionext still.</li>
</ul>


Watch for upside in names involved in HAMR drives such as TDK after positive comments from Seagate.
Rohm finally starting to get bucketed as an AI name could see significant upside after deep correction.
Quantum names continuing to surge with huge moves in IonQ and D-Wave sets positive tone for Socionext still.


Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

<ul>
<li>Trump whipping up interest in all things AI and data center over his state visit to Saudi.</li>
<li>Pharma giving back yesterdays rebound with risks remaining over Trump's planned pricing cuts.</li>
<li>Kokusai Electric may continue moving higher post-numbers  as a potential NKY225 inclusion candidate.</li>
</ul>


Trump whipping up interest in all things AI and data center over his state visit to Saudi.
Pharma giving back yesterdays rebound with risks remaining over Trump's planned pricing cuts.
Kokusai Electric may continue moving higher post-numbers  as a potential NKY225 inclusion candidate.


Japan Morning Connection: US Opening Doors to Greater UAE/Saudi Chip Sales Driving Tech and Semis

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>SillaJen got FDA nod to expand clinical trial of BAL0891 for acute myeloid leukemia. Akeso received FDA approval for its PD-1 inhibitor penpulimab for the treatment of nasopharyngeal carcinoma.</li>
<li>Innovent Biologics got approval for limertinib in China for the first-line treatment of locally advanced or metastatic non-small cell lung cancer. CSL launches Andembry Pen for Hereditary Angioedema in Japan.</li>
<li>Daiichi Sankyo submitted indication expansion application in Japan for Enhertu for the treatment of HER2 positive advanced or recurrent solid tumors. Lupin received FDA approval for Tolvaptan Tablets.</li>
</ul>


SillaJen got FDA nod to expand clinical trial of BAL0891 for acute myeloid leukemia. Akeso received FDA approval for its PD-1 inhibitor penpulimab for the treatment of nasopharyngeal carcinoma.
Innovent Biologics got approval for limertinib in China for the first-line treatment of locally advanced or metastatic non-small cell lung cancer. CSL launches Andembry Pen for Hereditary Angioedema in Japan.
Daiichi Sankyo submitted indication expansion application in Japan for Enhertu for the treatment of HER2 positive advanced or recurrent solid tumors. Lupin received FDA approval for Tolvaptan Tablets.


APAC Healthcare Weekly (April 27)- Sillajen, Akeso, Innovent Biologics, CSL, Daiichi Sankyo, Lupin

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/asahi-intecc-co-ltd" target="_blank" data-smartkarma-citation="entities:15915:1" rel="noopener">Asahi Intecc (7747 JP)</a> announced double-digit growth across all the key parameters in H1FY25. Market share expansion of medical division and favorable Fx drove growth.</li>
<li>Reiteration of FY25 guidance implies a softer H2 performance. In H2FY25, revenue is expected to increase 4% YoY, while both operating and net profit are likely to decline.</li>
<li>The U.S. contributes ~20% of medical division’s revenue of Asahi Intecc, which is lower than other large Japanese medtech companies. This should limit tariff exposure.</li>
</ul>



Asahi Intecc (7747 JP) announced double-digit growth across all the key parameters in H1FY25. Market share expansion of medical division and favorable Fx drove growth.
Reiteration of FY25 guidance implies a softer H2 performance. In H2FY25, revenue is expected to increase 4% YoY, while both operating and net profit are likely to decline.
The U.S. contributes ~20% of medical division’s revenue of Asahi Intecc, which is lower than other large Japanese medtech companies. This should limit tariff exposure.


Asahi Intecc (7747 JP): Softer H2 Expected; Positive Long-Term Outlook Amid Tariff Noises

Japan

Hoya Corp manufactures electro-optics products such as mask blanks for semiconductors, photomasks for LCD panels, optical glasses, glass memory disks for HDDs, medical flexible endoscopes, eyeglasses, and contact lenses. The Company also provides information system architecture.

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52-week Range	0.00 - 0.00
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Hoya Corp (7741 JP)

Japan Morning Connection: Coreweave +25% and Numbers from HP Enterprise Sets Positive Semi Tone

Kadokawa and Bandai Namco attractive as longs, may be increased focus on derivative wire and cable plays as well as Japan's EUV related.

Andrew Jackson

Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

Rebound for Wolfspeed despite no news on avoiding bankruptcy. Quantum names like IonQ and D-Wave surging, setting positive tone for Socionext....

Andrew Jackson

Japan Morning Connection: US Opening Doors to Greater UAE/Saudi Chip Sales Driving Tech and Semis

Trump's visit to Saudi Arabia sparks interest in AI and data centers, Pharma stocks drop after rebound, Kokusai Electric may rise further as...

Andrew Jackson

APAC Healthcare Weekly (April 27)- Sillajen, Akeso, Innovent Biologics, CSL, Daiichi Sankyo, Lupin

SillaJen got FDA nod for clinical trial indication expansion. FDA approves Akeso’s first drug. Innovent’s cancer drug was approved in China....

Tina Banerjee

Asahi Intecc (7747 JP): Softer H2 Expected; Positive Long-Term Outlook Amid Tariff Noises

Asahi Intecc sees strong H1FY25 growth, but FY25 guidance suggests softer H2 performance with revenue up 4% YoY and profit decline. U.S. revenue...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Coreweave +25% and Numbers from HP Enterprise Sets Positive Semi Tone

Kadokawa and Bandai Namco attractive as longs, may be increased focus on derivative wire and cable plays as well as Japan's EUV related.

Andrew Jackson

Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

Rebound for Wolfspeed despite no news on avoiding bankruptcy. Quantum names like IonQ and D-Wave surging, setting positive tone for Socionext....

Andrew Jackson

Japan Morning Connection: US Opening Doors to Greater UAE/Saudi Chip Sales Driving Tech and Semis

​Trump's visit to Saudi Arabia sparks interest in AI and data centers, Pharma stocks drop after rebound, Kokusai Electric may rise further as...

Andrew Jackson

APAC Healthcare Weekly (April 27)- Sillajen, Akeso, Innovent Biologics, CSL, Daiichi Sankyo, Lupin

SillaJen got FDA nod for clinical trial indication expansion. FDA approves Akeso’s first drug. Innovent’s cancer drug was approved in China....

Tina Banerjee

Asahi Intecc (7747 JP): Softer H2 Expected; Positive Long-Term Outlook Amid Tariff Noises

​Asahi Intecc sees strong H1FY25 growth, but FY25 guidance suggests softer H2 performance with revenue up 4% YoY and profit decline. U.S. revenue...

Tina Banerjee

Trump's visit to Saudi Arabia sparks interest in AI and data centers, Pharma stocks drop after rebound, Kokusai Electric may rise further as...

Asahi Intecc sees strong H1FY25 growth, but FY25 guidance suggests softer H2 performance with revenue up 4% YoY and profit decline. U.S. revenue...