Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>MoD set to designate China as Japan's most serious concern in upcoming white paper. MHI, KHI, IHI and JSW worth watching as retail looks for new plays.</li>
<li>SMCI announcing plans to raise $7 billion to meet server orders may help lift Nidec who supplies their cooling modules.</li>
<li>Sumitomo Forestry -31% YTD may get some relief from homebuilder strength in the US overnight.</li>
</ul>


MoD set to designate China as Japan's most serious concern in upcoming white paper. MHI, KHI, IHI and JSW worth watching as retail looks for new plays.
SMCI announcing plans to raise $7 billion to meet server orders may help lift Nidec who supplies their cooling modules.
Sumitomo Forestry -31% YTD may get some relief from homebuilder strength in the US overnight.


Japan Morning Connection: Defense in Focus as MoD Is Set to Name China as Most Serious Concern

<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

<ul>
<li>Global defense names continued to trade well which bodes well for the Japanese heavies and shipbuilders.</li>
<li>Airlines failed to catch a bid although global shippers were mixed which points to further uncertainty amid oil volatility.</li>
<li>Broadcom numbers look good with the firm eyeing $100bn in AI chip revenues by next year.</li>
</ul>


Global defense names continued to trade well which bodes well for the Japanese heavies and shipbuilders.
Airlines failed to catch a bid although global shippers were mixed which points to further uncertainty amid oil volatility.
Broadcom numbers look good with the firm eyeing $100bn in AI chip revenues by next year.


Japan Morning Connection: Markets Stage a Cautious Rebound in the US

<ul>
<li>NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.</li>
<li>Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.</li>
<li>Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.</li>
</ul>


NVDA investment in Lumentum and Coherent increases the focus on optical over copper connectivity technologies.
Shipper strength on the prospect for higher rates should continue to be reflected in Japan names.
Defense names were obviously strong following gains in Asia yesterday, but geospatial imaging names lead the way.


Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

<ul>
<li>Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.</li>
<li>This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.</li>
<li>Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.</li>
</ul>


Watch refiners, shippers, and heavies for upside vs weakness for airlines and companies with shipping exposure to EU.
This rotation could be short lived given the very one-sided outcome of the conflict so far, so expect volatility.
Precious metals and oil are already starting to pare early gains this morning which may be indicative of the longevity of some of these moves.


Japan Morning Connection: Japan Set for Short-Term Rotation Away from Tech After Attacks on Iran

Japan

Kawasaki Heavy Industries, Ltd. designs, develops, and manufactures transport equipment and industrial heavy machinery for military and commercial use.  The Company produces ships, railroad cars, aircraft engines and parts, hydraulic and gas turbines, submarine engines, boilers, and industrial robots.  Kawasaki Heavy Industries offers engineering and construction services to industrial plants.

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Kawasaki Heavy Industries (7012 JP)

Japan Morning Connection: Defense in Focus as MoD Is Set to Name China as Most Serious Concern

Markets remain gun-shy ahead of SpaceX IPO this week. Defense heavies worth watching as MoD prepares to flag China as most serious concern in...

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 Morning Connection: Markets Stage a Cautious Rebound in the US

Markets stage a cautious rebound in the US, but there are plenty of opportunities in Japan after the weak price action so far this week.

Andrew Jackson

Japan Morning Connection: Markets Firm in the Face of War with Momentum and Growth Outperforming

Markets were surprisingly calm overnight with tech and AI hardly skipping a beat in the face of war in Iran. Airlines were lower with dented demand...

Andrew Jackson

Japan Morning Connection: Japan Set for Short-Term Rotation Away from Tech After Attacks on Iran

Expect a fairly sharp rotation away from tech and AI into defense and defensives names in Japan today. JP defense names are all trading close to...

Andrew Jackson

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