Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Nintendo numbers missed although firm doesn't see impact from higher memory prices this year.</li>
<li>Ibiden to invest Y500bn in new production facilities to capture AI demand.</li>
<li>Defense names should rally after US shoots down an Iranian drone.</li>
</ul>


Nintendo numbers missed although firm doesn't see impact from higher memory prices this year.
Ibiden to invest Y500bn in new production facilities to capture AI demand.
Defense names should rally after US shoots down an Iranian drone.


Japan Morning Connection: Rotation Out of Tech Although AH Mixed with Lumentum up AMD Down

<ul>
<li>Intel meltdown on Friday looks largely priced in already, although mood skittish to start.</li>
<li>Takaichi approval already on the wane with tax cuts seen as likely ineffective against inflation.</li>
<li>Trump sending an armada to the Middle East positive for defense.</li>
</ul>


Intel meltdown on Friday looks largely priced in already, although mood skittish to start.
Takaichi approval already on the wane with tax cuts seen as likely ineffective against inflation.
Trump sending an armada to the Middle East positive for defense.


Japan Morning Connection: Semi Caps Mixed but Largely Look Through Intel Capex Headlines

<ul>
<li>Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.</li>
<li>Trump touting Govt buying $200bn worth of MBS as panacea for housing.</li>
<li>Defense higher again, while Fast Retailing and Disco post good numbers.</li>
</ul>


Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.
Trump touting Govt buying $200bn worth of MBS as panacea for housing.
Defense higher again, while Fast Retailing and Disco post good numbers.


Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

<ul>
<li>Samsung posts record 4Q earnings keeps the memory train running. Sandisk up again, HDD down</li>
<li>Market warming up to Intel's Core Ultra Series 3 which seemed to be lost in the static after yesterday's announcement at CES</li>
<li>Cheesesteak for breakfast?? Its no different to eating carrots and broccoli according to Bobby Kennedy's inverted pyramid</li>
</ul>


Samsung posts record 4Q earnings keeps the memory train running. Sandisk up again, HDD down
Market warming up to Intel's Core Ultra Series 3 which seemed to be lost in the static after yesterday's announcement at CES
Cheesesteak for breakfast?? Its no different to eating carrots and broccoli according to Bobby Kennedy's inverted pyramid


Japan Morning Connection: Trump Looking to Hike Defense Budget 50% to Outweigh Governance Gripes

Japan Specialist

Mark Chadwick

<ul>
<li>Japanese equities ended lower in a volatile week, pressured by global tech headwinds despite a strong Friday rally: Nikkei: -2.6% | TPX -1.2% | JPY 156 (+¥1.03) | 10Y 2.02%</li>
<li>Japan Steel Works (-15%), Fujikura (-14%), and Yaskawa (-13%) shares fell sharply this week on AI sentiment cooling and valuation worries; long-term themes in nuclear/defence, and AI/robotics remain intact.</li>
<li>Next week, thinned holiday trading expected; Friday's Tokyo CPI, unemployment, and retail sales data to test BoJ's post-rate-hike confidence.</li>
</ul>


Japanese equities ended lower in a volatile week, pressured by global tech headwinds despite a strong Friday rally: Nikkei: -2.6% | TPX -1.2% | JPY 156 (+¥1.03) | 10Y 2.02%
Japan Steel Works (-15%), Fujikura (-14%), and Yaskawa (-13%) shares fell sharply this week on AI sentiment cooling and valuation worries; long-term themes in nuclear/defence, and AI/robotics remain intact.
Next week, thinned holiday trading expected; Friday's Tokyo CPI, unemployment, and retail sales data to test BoJ's post-rate-hike confidence.


Japan Strategy Weekly | BoJ Hikes to 0.75% Amid Tech Headwinds; Nikkei -2.6%

Japan

The Japan Steel Works Ltd produces machinery for casts, forged steel, and plastics.  The Company, serving both the public and private sectors, manufactures industrial equipment utilized in facilities such as oil refineries, manufacturing plants, and petrochemical plants.

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Japan Steel Works (5631 JP)

Japan Morning Connection: Rotation Out of Tech Although AH Mixed with Lumentum up AMD Down

Software-related weak after Anthropic announced an AI tool that could fully replace existing products. Excessive weakness of Nintendo offers a...

Andrew Jackson

Japan Morning Connection: Semi Caps Mixed but Largely Look Through Intel Capex Headlines

Japanese SPE already priced in the Intel miss Friday. Intel's CEO Tan reports that they will be more selective on spending.

Andrew Jackson

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Japan Morning Connection: Trump Looking to Hike Defense Budget 50% to Outweigh Governance Gripes

Likely to see a weakness in Japan's semiconduction production chemical companies with new competition from China. Homebuilders took a hit from...

Andrew Jackson

Japan Strategy Weekly | BoJ Hikes to 0.75% Amid Tech Headwinds; Nikkei -2.6%

Japanese equities fell due to global tech headwinds, with Japan Steel Works, Fujikura, and Yaskawa shares dropping sharply. BoJ hiked rates

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Rotation Out of Tech Although AH Mixed with Lumentum up AMD Down

Software-related weak after Anthropic announced an AI tool that could fully replace existing products. Excessive weakness of Nintendo offers a...

Andrew Jackson

Japan Morning Connection: Semi Caps Mixed but Largely Look Through Intel Capex Headlines

Japanese SPE already priced in the Intel miss Friday. Intel's CEO Tan reports that they will be more selective on spending.

Andrew Jackson

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Japan Morning Connection: Trump Looking to Hike Defense Budget 50% to Outweigh Governance Gripes

Likely to see a weakness in Japan's semiconduction production chemical companies with new competition from China. Homebuilders took a hit from...

Andrew Jackson

Japan Strategy Weekly | BoJ Hikes to 0.75% Amid Tech Headwinds; Nikkei -2.6%

​Japanese equities fell due to global tech headwinds, with Japan Steel Works, Fujikura, and Yaskawa shares dropping sharply. BoJ hiked rates

Mark Chadwick

Japanese equities fell due to global tech headwinds, with Japan Steel Works, Fujikura, and Yaskawa shares dropping sharply. BoJ hiked rates