Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>TSMC higher on news from the day before it is investing heavily in US fab capacity.</li>
<li>Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.</li>
<li>All eyes on Trumps speech to congress this morning, although markets should be firm off the open.</li>
</ul>


TSMC higher on news from the day before it is investing heavily in US fab capacity.
Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.
All eyes on Trumps speech to congress this morning, although markets should be firm off the open.


Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

<ul>
<li>NVDA, SMCI and Dell investigated by Singaporean authorities over chip leaks into China.</li>
<li>Allegro +15% in the US following on from Sanken limit-up yesterday as ON circles.</li>
<li>IHI, MHI, KHI, NEC all higher yesterday but should follow EU defense peers much higher.</li>
</ul>


NVDA, SMCI and Dell investigated by Singaporean authorities over chip leaks into China.
Allegro +15% in the US following on from Sanken limit-up yesterday as ON circles.
IHI, MHI, KHI, NEC all higher yesterday but should follow EU defense peers much higher.


Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

<ul>
<li>US broke the Tech rout on Friday while the Trump/Zelensky spat points to higher EU defense spending.</li>
<li>ON Semi is reported to be making a play for Allegro signalling a potential liquidity event for Sanken.</li>
<li>JP SPE was heavily sold on Fri so expect a sharp rebound to start.</li>
</ul>


US broke the Tech rout on Friday while the Trump/Zelensky spat points to higher EU defense spending.
ON Semi is reported to be making a play for Allegro signalling a potential liquidity event for Sanken.
JP SPE was heavily sold on Fri so expect a sharp rebound to start.


Japan Morning Connection: Japan Set to Rebound Led by Tech and Defence

<ul>
<li>Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.</li>
<li>EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.</li>
<li>Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.</li>
</ul>


Yesterday saw a notable rotation out of recent momentum winners in Japan towards oversold quality such as SPE.
EU defence names generally stronger on concerns over Trumps Greenland/Denmark comments may be mild positive for JP heavies.
Power semi weakness in the US at least partially over news Renesas is cutting workforce on weak auto chip sales.


Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

<ul>
<li>Big AI related capex announced for MSFT should help buoy tech to start.</li>
<li>Room for SPE once deemed as China plays to rebound on sales diversification.</li>
<li>2024 was a big year for momentum plays and US stock moves so far seem to point to more of the same.</li>
</ul>


Big AI related capex announced for MSFT should help buoy tech to start.
Room for SPE once deemed as China plays to rebound on sales diversification.
2024 was a big year for momentum plays and US stock moves so far seem to point to more of the same.


Japan Morning Connection: AI Winners Leading Higher to Start the Year

Japan

IHI Corporation manufactures heavy machinery. The Company produces aircraft jet engines, rocket propulsion systems, and ships for military and commercial use. Ishikawajima-Harima also constructs petroleum refineries and nuclear power plants.

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IHI Corp (7013 JP)

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

Andrew Jackson

Japan Morning Connection: Japan Set to Rebound Led by Tech and Defence

Potential for increased EU defense spending post Trump/Zelensky spat, ON Semi eyeing Allegro for acquisition, expect sharp rebound for JP SPE.

Andrew Jackson

Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Rotation from momentum winners into oversold quality such as SPE, EU defense name strength may be positive for JP heavies, US power semi weakness...

Andrew Jackson

Japan Morning Connection: AI Winners Leading Higher to Start the Year

MSFT's announced AI investment should buoy tech, potential for previously China SPE as they diversify, US stocks pointing to big momentum plays .

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

​TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

​Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

Andrew Jackson

Japan Morning Connection: Japan Set to Rebound Led by Tech and Defence

Potential for increased EU defense spending post Trump/Zelensky spat, ON Semi eyeing Allegro for acquisition, expect sharp rebound for JP SPE.

Andrew Jackson

Japan Morning Connection: Can JP Semi-Cap Names Continue to Buck the US Tech Weakness?

Rotation from momentum winners into oversold quality such as SPE, EU defense name strength may be positive for JP heavies, US power semi weakness...

Andrew Jackson

Japan Morning Connection: AI Winners Leading Higher to Start the Year

​MSFT's announced AI investment should buoy tech, potential for previously China SPE as they diversify, US stocks pointing to big momentum plays .

Andrew Jackson

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

MSFT's announced AI investment should buoy tech, potential for previously China SPE as they diversify, US stocks pointing to big momentum plays .