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

DZT Research

DZT 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 analyzed the changes in margin trading positions of JPX stocks as of Oct 10th. The aggregated net margin trading position is USD17,836m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in IHI, SoftBank, Fast Retailing, Advantest, Mitsubishi Heavy Industries, Keyence, Nojima, Kobe Bussan, Hitachi, Kawasaki Heavy Industries, Ihi, Softbank, Fast Retailing, Advantest.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Oct 10th. The aggregated net margin trading position is USD17,836m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in IHI, SoftBank, Fast Retailing, Advantest, Mitsubishi Heavy Industries, Keyence, Nojima, Kobe Bussan, Hitachi, Kawasaki Heavy Industries, Ihi, Softbank, Fast Retailing, Advantest.


JPX Margin Trading Weekly (Oct 10th): IHI, SoftBank, Fast Retailing, Advantest

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Oct 3rd. The aggregated net margin trading position is USD17,873m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in IHI, Nippon Steel, Nitori, Ai Robotics, Pan Pacific International, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Disco, Kintetsu, Yamada, Ihi.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Oct 3rd. The aggregated net margin trading position is USD17,873m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in IHI, Nippon Steel, Nitori, Ai Robotics, Pan Pacific International, Mitsubishi UFJ Financial, Mitsui O.S.K. Lines, Disco, Kintetsu, Yamada, Ihi.


JPX Margin Trading Weekly (Oct 3rd): IHI, Nippon Steel, Nitori, Ai Robotics

Derivatives and Quantitative Strategist

Gaudenz Schneider

Event-Driven

<ul>
<li>
Context: The Bank of Japan (BoJ) will announce its monetary policy decision on Friday, 19 September 2025. Unlike most central banks, the BoJ announces its decisions flexibly, usually around noon.</li>
<li>
Highlight: Analysis of the past 13 meetings hints at patterns linking longer meetings and delayed announcements with policy changes, including a surprise hike in July 2024.</li>
<li>
Why it Matters: This analysis helps investors interpret timing signals ahead of the 19 September decision, assessing whether delay itself could hint at an outcome shift.</li>
</ul>



Context: The Bank of Japan (BoJ) will announce its monetary policy decision on Friday, 19 September 2025. Unlike most central banks, the BoJ announces its decisions flexibly, usually around noon.

Highlight: Analysis of the past 13 meetings hints at patterns linking longer meetings and delayed announcements with policy changes, including a surprise hike in July 2024.

Why it Matters: This analysis helps investors interpret timing signals ahead of the 19 September decision, assessing whether delay itself could hint at an outcome shift.


Bank of Japan’s Rate Decision on Sept 19: Does Timing Signal the Outcome?

Global Materials | Industrials | Commodities

Rahul Jain

Equity Bottom-Up

<ul>
<li>Business: Designs and integrates intralogistics, cleanroom, airport, and automotive automation systems.</li>
<li>Expanding AI-driven logistics and semiconductor cleanroom solutions, with recurring service growth.</li>
<li>Earnings projected to grow mid-teens CAGR to FY27E, with multiples compressing from ~25× P/E / 15× EV/EBITDA to ~20× / 12×, justifying a structural premium.</li>
</ul>


Business: Designs and integrates intralogistics, cleanroom, airport, and automotive automation systems.
Expanding AI-driven logistics and semiconductor cleanroom solutions, with recurring service growth.
Earnings projected to grow mid-teens CAGR to FY27E, with multiples compressing from ~25× P/E / 15× EV/EBITDA to ~20× / 12×, justifying a structural premium.


Daifuku (6383 JP): Global Automation Leader with Structural AI Tailwinds

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.</li>
<li>We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.</li>
<li>We highlight net margin buy/sell changes in SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Aug 22nd. The aggregated net margin trading position is USD15,656m.
We tabulate league tables for top/bottom net long/short of margin trading by value, net margin buy as multiple of ADT.
We highlight net margin buy/sell changes in SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco, Tokyo Electron, IHI, Fujikura, Kawasaki Heavy Industries, Lasertec, Mitsubishi Heavy Industries, Softbank, Mitsubishi Ufj Financial, Sanrio.


JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

Japan

KEYENCE CORPORATION develops, manufactures, and sells sensors and measuring instruments used for factory automation (FA) and high technology hobby products. The Company's products include fiber optic sensors, photoelectric sensors, programmable logic controllers (PLC), laser scan micrometers, bar code readers, and radio-controlled model cars.

Price Gauge
52-week Range	0.00 - 0.00
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Dividend (Yield)	0.00

Keyence Corp (6861 JP)

JPX Margin Trading Weekly (Oct 10th): IHI, SoftBank, Fast Retailing, Advantest

We analyzed JPX margin trading positions report for the past week and highlighted IHI (7013 JP), SoftBank (9984 JP), Fast Retailing (9983 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Oct 3rd): IHI, Nippon Steel, Nitori, Ai Robotics

We analyzed JPX margin trading positions report for the past week and highlighted IHI (7013 JP), Nippon Steel (5401 JP), Nitori (9843 JP), Ai...

Ke Yan, CFA, FRM

Bank of Japan’s Rate Decision on Sept 19: Does Timing Signal the Outcome?

The Bank of Japan (BoJ) will announce its monetary policy decision on Friday, 19 September 2025. The BoJ announces its decisions flexibly, usually...

Gaudenz Schneider

Daifuku (6383 JP): Global Automation Leader with Structural AI Tailwinds

Company expanding AI-driven logistics and semiconductor cleanroom solutions, with projected earnings growth and justified structural premium.

Rahul Jain

JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

We analyzed JPX margin trading positions report for the past week and highlighted SoftBank (9984 JP), Mitsubishi UFJ Financial (8306 JP), Sanrio...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JPX Margin Trading Weekly (Oct 10th): IHI, SoftBank, Fast Retailing, Advantest

We analyzed JPX margin trading positions report for the past week and highlighted IHI (7013 JP), SoftBank (9984 JP), Fast Retailing (9983 JP),...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Oct 3rd): IHI, Nippon Steel, Nitori, Ai Robotics

We analyzed JPX margin trading positions report for the past week and highlighted IHI (7013 JP), Nippon Steel (5401 JP), Nitori (9843 JP), Ai...

Ke Yan, CFA, FRM

Bank of Japan’s Rate Decision on Sept 19: Does Timing Signal the Outcome?

The Bank of Japan (BoJ) will announce its monetary policy decision on Friday, 19 September 2025. The BoJ announces its decisions flexibly, usually...

Gaudenz Schneider

Daifuku (6383 JP): Global Automation Leader with Structural AI Tailwinds

​Company expanding AI-driven logistics and semiconductor cleanroom solutions, with projected earnings growth and justified structural premium.

Rahul Jain

JPX Margin Trading Weekly (Aug 22nd): SoftBank, Mitsubishi UFJ Financial, Sanrio, Disco

We analyzed JPX margin trading positions report for the past week and highlighted SoftBank (9984 JP), Mitsubishi UFJ Financial (8306 JP), Sanrio...

Ke Yan, CFA, FRM

Company expanding AI-driven logistics and semiconductor cleanroom solutions, with projected earnings growth and justified structural premium.