Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-Japan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Toyota Motor, Nippon Yusen Kabushiki Kaisha, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Recruit, Mitsubishi Chemical.</li>
</ul>


We analysed the earning revision of component stocks of MS-Japan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Toyota Motor, Nippon Yusen Kabushiki Kaisha, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Recruit, Mitsubishi Chemical.


MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>The horse trading continues with Israel bowing to the US and bilateral talks with Japan set to commence imminently.</li>
<li>US shippers outperformed given lower oil despite an outlook for lower global trade overall.</li>
<li>Samsung numbers beating this morning on strong demand for the Galaxy S25 smartphones and DRAM.</li>
</ul>


The horse trading continues with Israel bowing to the US and bilateral talks with Japan set to commence imminently.
US shippers outperformed given lower oil despite an outlook for lower global trade overall.
Samsung numbers beating this morning on strong demand for the Galaxy S25 smartphones and DRAM.


Japan Morning Connection: US Relief Rally Sending JP Futures Sharply Higher

<ul>
<li>Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.</li>
<li>Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.</li>
<li>Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.</li>
</ul>


Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.
Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.
Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.


Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

<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>NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.</li>
<li>Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.</li>
<li>HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.</li>
</ul>


NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.
Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.
HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.


Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

Japan

Kawasaki Kisen Kaisha, Ltd. operates marine cargo and passenger transportation around the world.  The Company provides ocean liner, bulk carrier, car carrier, unscheduled specialized carrier, and energy transportation services. The Company also offers insurance, warehousing, and land transportation services.  Items transported include automobile, grain, petroleum, coal, iron ore, and wood chip.

Price Gauge
52-week Range	0.00 - 0.00
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Kawasaki Kisen Kaisha (9107 JP)

MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

We analyzed MS-Japan's consensus for Sep 2026 and highlighted changes of EPS in Toyota Motor (7203 JP), Nippon Yusen Kabushiki Kaisha (9101 JP),...

Ke Yan, CFA, FRM

Japan Morning Connection: US Relief Rally Sending JP Futures Sharply Higher

Israel bows to US pressure, Japan to begin bilateral trade talks. US shippers despite global trade decline. Samsung numbers beat with Galaxy S25...

Andrew Jackson

Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

Watch Softbank for weakness as ARM and Qualcomm brought lower by spat, Tesla's strong earnings will buoy EV related, Texas Instruments' positive...

Andrew Jackson

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

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MS-Japan Index Earning Revision (Sep): Toyota Motor, Nippon Yusen Kabushiki Kaisha, Recruit

We analyzed MS-Japan's consensus for Sep 2026 and highlighted changes of EPS in Toyota Motor (7203 JP), Nippon Yusen Kabushiki Kaisha (9101 JP),...

Ke Yan, CFA, FRM

Japan Morning Connection: US Relief Rally Sending JP Futures Sharply Higher

Israel bows to US pressure, Japan to begin bilateral trade talks. US shippers despite global trade decline. Samsung numbers beat with Galaxy S25...

Andrew Jackson

Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

Watch Softbank for weakness as ARM and Qualcomm brought lower by spat, Tesla's strong earnings will buoy EV related, Texas Instruments' positive...

Andrew Jackson

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: HK Futures off the Lows Should Point to Upside for China Related Names

NVDA +4.1% on comments from Hon Hai that demand for Blackwell chips was ‘crazy’, Oil related will follow US lower, HK futures off the lows should...

Andrew Jackson