Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Kioxia likely to keep moving higher after yesterday's limit-up on its knockout numbers.</li>
<li>Seagate CEO refusing to add production capacity being read as a sign that memory demand may be nearing a top.</li>
<li>QD Laser +23% yesterday on increased adoption of its Retissa Viewclear retinal projection display.</li>
</ul>


Kioxia likely to keep moving higher after yesterday's limit-up on its knockout numbers.
Seagate CEO refusing to add production capacity being read as a sign that memory demand may be nearing a top.
QD Laser +23% yesterday on increased adoption of its Retissa Viewclear retinal projection display.


Japan Morning Connection: Software Rotation Continues with NEC and Fujitsu Set to Outperform

<ul>
<li>Watch Fujitsu, NEC and OBIC as software likely catches a defensive bid.</li>
<li>Keep an eye on Japan's laser and photonic mid-caps for a lower entry today as markets correct.</li>
<li>Kioxia rose an eye watering +38% over last week so likely to see profit taking creep in for this.</li>
</ul>


Watch Fujitsu, NEC and OBIC as software likely catches a defensive bid.
Keep an eye on Japan's laser and photonic mid-caps for a lower entry today as markets correct.
Kioxia rose an eye watering +38% over last week so likely to see profit taking creep in for this.


Japan Morning Connection: Last Week's Big Winners Face Profit Taking as Iran Talks Fail

<ul>
<li>Kioxia Holdings (285A JP) could have a long way to tumble only -18% from its recent highs with almost zero short interest.</li>
<li>Defense doesn’t seem to be reacting to the spectre of increased conflict in Iran with US names weak again setting a poor tone for Japanese names.</li>
<li>Nintendo launches its Super Mario galaxy movie tomorrow so may get a bit of a bid on expectations it does as well as the initial film.</li>
</ul>


Kioxia Holdings (285A JP) could have a long way to tumble only -18% from its recent highs with almost zero short interest.
Defense doesn’t seem to be reacting to the spectre of increased conflict in Iran with US names weak again setting a poor tone for Japanese names.
Nintendo launches its Super Mario galaxy movie tomorrow so may get a bit of a bid on expectations it does as well as the initial film.


Japan Morning Connection: Tech and AI Set for a Rough Open as Quarter End Profit Taking Hits Winners

Japan Specialist

Mark Chadwick

<ul>
<li>Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.</li>
<li>The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. </li>
<li>Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.</li>
</ul>


Japan's Nikkei rose +3.6% this week, led by companies supplying copper foil, optical fibre and semiconductors directly into AI data centre buildouts.
The rally is backed by real earnings: double-digit profit growth, raised guidance and dividend hikes across materials and components makers serving AI infrastructure. 
Rising copper and gold prices are boosting earnings forecasts for miners while reinforcing a multi-year supply constraint narrative for materials suppliers serving electrification and AI infrastructure.


Japan Strategy Weekly | The AI Age Plumber

<ul>
<li>As AI shifts from software hype to hardware reality, hyperscalers plan $650–750 billion in 2026 capex for infrastructure, boosting upstream hardware suppliers.</li>
<li>Japan's Nikkei has outperformed globally (+13% YTD vs. Nasdaq's decline), driven by strong gains in materials and semiconductor equipment firms tied to the AI supply chain.</li>
<li>Prime Minister Takaichi's landslide election victory fuels optimism for pro-growth policies; markets reacted positively with equity rallies, yen strength, and falling yields.</li>
</ul>


As AI shifts from software hype to hardware reality, hyperscalers plan $650–750 billion in 2026 capex for infrastructure, boosting upstream hardware suppliers.
Japan's Nikkei has outperformed globally (+13% YTD vs. Nasdaq's decline), driven by strong gains in materials and semiconductor equipment firms tied to the AI supply chain.
Prime Minister Takaichi's landslide election victory fuels optimism for pro-growth policies; markets reacted positively with equity rallies, yen strength, and falling yields.


Japan Strategy Weekly | The Global Hardware Store for the AI Era

Japan

JX Advanced Metals Corporation mines and distributes non ferrous metal products. The Company smelts, refines, and markets non ferrous metals such as copper, gold, silver, and more. JX Advanced Metals also sells semiconductor materials, special steel materials, and other products.

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JX Advanced Metals (5016 JP)

Japan Morning Connection: Software Rotation Continues with NEC and Fujitsu Set to Outperform

Software rotation continues as tech remains under pressure. Kioxia the lone bright spot as other memory names show no follow through. QD Laser...

Andrew Jackson

Japan Morning Connection: Last Week's Big Winners Face Profit Taking as Iran Talks Fail

Kioxia +38% and Rorze +47% last week with profit taking likely today along with Lasertec and Kokusai after their explosive gains.

Andrew Jackson

Japan Morning Connection: Tech and AI Set for a Rough Open as Quarter End Profit Taking Hits Winners

Japan's AI names face a brutal open as quarter end selling accelerates. Kioxia an easy pole to slide down with almost no short interest and not far...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Japan Strategy Weekly | The Global Hardware Store for the AI Era

Hyperscalers plan massive capex for AI infrastructure, boosting hardware suppliers; Nikkei outperforms on strong gains in AI supply chain, &...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Software Rotation Continues with NEC and Fujitsu Set to Outperform

Software rotation continues as tech remains under pressure. Kioxia the lone bright spot as other memory names show no follow through. QD Laser...

Andrew Jackson

Japan Morning Connection: Last Week's Big Winners Face Profit Taking as Iran Talks Fail

Kioxia +38% and Rorze +47% last week with profit taking likely today along with Lasertec and Kokusai after their explosive gains.

Andrew Jackson

Japan Morning Connection: Tech and AI Set for a Rough Open as Quarter End Profit Taking Hits Winners

Japan's AI names face a brutal open as quarter end selling accelerates. Kioxia an easy pole to slide down with almost no short interest and not far...

Andrew Jackson

Japan Strategy Weekly | The AI Age Plumber

​Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Mark Chadwick

Japan Strategy Weekly | The Global Hardware Store for the AI Era

​Hyperscalers plan massive capex for AI infrastructure, boosting hardware suppliers; Nikkei outperforms on strong gains in AI supply chain, &...

Mark Chadwick

Japan's Nikkei surged on the back of strong earnings and rising copper and gold prices, driven by companies supplying materials for AI...

Hyperscalers plan massive capex for AI infrastructure, boosting hardware suppliers; Nikkei outperforms on strong gains in AI supply chain, &...