Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Further tech weakness in the US as markets brace for a more inflationary outlook.</li>
<li>Isetan Mitsukoshi numbers and new MTP should end recent underperformance.</li>
<li>Excessive Nintendo weakness on PIF cutting holdings a chance to buy ahead of new NSW announcement.</li>
</ul>


Further tech weakness in the US as markets brace for a more inflationary outlook.
Isetan Mitsukoshi numbers and new MTP should end recent underperformance.
Excessive Nintendo weakness on PIF cutting holdings a chance to buy ahead of new NSW announcement.


Japan Morning Connection: Softbank Further Consolidating Its AI Focus

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>Today, <a href="https://www.smartkarma.com/entities/takashimaya-co-ltd" target="_blank" data-smartkarma-citation="entities:370:1" rel="noopener">Takashimaya (8233 JP)</a> reported Q2 earnings, a dividend hike, upward revisions to the FY26 MTMP, and a decent-sized buyback to raise leverage levels and ROE.</li>
<li>The company is yen-sensitive both in overseas retail and domestic department stores on inbound traffic. One could imagine future issues. </li>
<li>The register looks like it is quite open. It is not. That is worth considering now and in future.</li>
</ul>


Today, Takashimaya (8233 JP) reported Q2 earnings, a dividend hike, upward revisions to the FY26 MTMP, and a decent-sized buyback to raise leverage levels and ROE.
The company is yen-sensitive both in overseas retail and domestic department stores on inbound traffic. One could imagine future issues. 
The register looks like it is quite open. It is not. That is worth considering now and in future.


Takashimaya (8233 JP) Decent Earnings, BIG Buyback (Odd Register Dynamics)

<ul>
<li>US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.</li>
<li>Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.</li>
<li>Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.</li>
</ul>


US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.
Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.
Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.


Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

<ul>
<li>Tech largely down in the US after AMD's AI event failed to impress with somewhat conflicting CPI and jobless data.</li>
<li>A strong print for Fast Retailing will add to short-seller woes although some brokers have started cutting estimates after the outsized move.</li>
<li>7&amp;I announced a flurry of restructuring initiatives aimed at raising corporate value and fending off Couche-Tard before its too late.</li>
</ul>


Tech largely down in the US after AMD's AI event failed to impress with somewhat conflicting CPI and jobless data.
A strong print for Fast Retailing will add to short-seller woes although some brokers have started cutting estimates after the outsized move.
7&amp;I announced a flurry of restructuring initiatives aimed at raising corporate value and fending off Couche-Tard before its too late.


Japan Morning Connection: 7&I Continues Restructuring Plan

<ul>
<li>Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.</li>
<li>Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.</li>
<li>Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.</li>
</ul>


Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.
Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.
Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.


Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

Japan

Isetan Mitsukoshi Holdings Ltd. is a holding company established through a merger of Mitsukoshi and Isetan. The group operates department stores nationwide, selling clothing, foods, household goods, cosmetics and general merchandise.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Isetan Mitsukoshi Holdings Ltd (3099 JP)

Japan Morning Connection: Softbank Further Consolidating Its AI Focus

Tech weaknes continues in the US, new numbers from Isetan Mitsukoshi should end recent underperformance and Nintendo weakness offer opportunities...

Andrew Jackson

Takashimaya (8233 JP) Decent Earnings, BIG Buyback (Odd Register Dynamics)

Takashimaya today announced H1 earnings, higher divs, a small upward shift in the MTMP, and a buyback. The trick to the buyback is in the register....

Travis Lundy

Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

US semiconductors and tech related setting a bullish tone for JP SPE. Steep drop in oil to hit Japex, Index and refiners. Fujitsu may face downside...

Andrew Jackson

Japan Morning Connection: 7&I Continues Restructuring Plan

Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Softbank Further Consolidating Its AI Focus

Tech weaknes continues in the US, new numbers from Isetan Mitsukoshi should end recent underperformance and Nintendo weakness offer opportunities...

Andrew Jackson

Takashimaya (8233 JP) Decent Earnings, BIG Buyback (Odd Register Dynamics)

Takashimaya today announced H1 earnings, higher divs, a small upward shift in the MTMP, and a buyback. The trick to the buyback is in the register....

Travis Lundy

Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

US semiconductors and tech related setting a bullish tone for JP SPE. Steep drop in oil to hit Japex, Index and refiners. Fujitsu may face downside...

Andrew Jackson

Japan Morning Connection: 7&I Continues Restructuring Plan

​Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

​Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...