Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Mega caps announcing bigger capex sends Microsoft and Meta down AH, but is another positive for semi-cap plays.</li>
<li>Disco numbers miss, but memory related shipment miss may be a matter of timing and expect management to say as much on call today</li>
<li>Blackwell for China will mean more upside for Ibiden, not that it needs any help after +25% in 2-days thanks to Nidec (and Nagamori's) demise.</li>
</ul>


Mega caps announcing bigger capex sends Microsoft and Meta down AH, but is another positive for semi-cap plays.
Disco numbers miss, but memory related shipment miss may be a matter of timing and expect management to say as much on call today
Blackwell for China will mean more upside for Ibiden, not that it needs any help after +25% in 2-days thanks to Nidec (and Nagamori's) demise.


Japan Morning Connection: Big Gains for Semi-Testers and Memory Sets Strong Tone (Again)

<ul>
<li>Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.</li>
<li>Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.</li>
<li>Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.</li>
</ul>


Great numbers from Advantest, Teradyne, Seagate and SK Hynix set to send AI related surging.
Jensen Huang spreads NVDA's net wider while dispelling concerns of a bubble.
Qorvo-Skyworks merger could tighten the competitive market for the likes of Murata.


Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

<ul>
<li>IBM continues to rerate as a Quantum name after announcing regular AMD chips can be used for qubit error correction.</li>
<li>Trump in Japan for the next 3-days likely to see defense, soybean and auto re-import pledges, but still waiting for a nuclear Takaichi.</li>
<li>Shin-Etsu earnings and guidance missed on PVC outlook, but this could be a bottom as US building sentiment set to improve.</li>
</ul>


IBM continues to rerate as a Quantum name after announcing regular AMD chips can be used for qubit error correction.
Trump in Japan for the next 3-days likely to see defense, soybean and auto re-import pledges, but still waiting for a nuclear Takaichi.
Shin-Etsu earnings and guidance missed on PVC outlook, but this could be a bottom as US building sentiment set to improve.


Japan Morning Connection: SOX to New Highs After CPI Greenlights Further Cuts and Risk-On Mood

<ul>
<li>Apple to ATH's with its China iPhone17 sales tracking 14% better than the same period for the iPhone16.</li>
<li>With an LDP - Ishin pact signed, Takaichi is set to reign as PM. Space names and JSW look to have more upside as do Heavies.</li>
<li>Will a China trade deal include a big Boeing order after a 5-year hiatus? Comments from the US Ambassador and Trumps play book point to YES.</li>
</ul>


Apple to ATH's with its China iPhone17 sales tracking 14% better than the same period for the iPhone16.
With an LDP - Ishin pact signed, Takaichi is set to reign as PM. Space names and JSW look to have more upside as do Heavies.
Will a China trade deal include a big Boeing order after a 5-year hiatus? Comments from the US Ambassador and Trumps play book point to YES.


Japan Morning Connection: AWS Outage and Calls for Improved Redundancy Infra Drives Tech and AI Up

<ul>
<li>ASML guiding for growth despite a big cut in China sales a positive roadmap for JP SPE also.</li>
<li>Memory prices continue to soar as makers stop issuing spot prices due to lack of inventory.</li>
<li>A LDP-JIP alliance makes a Takaichi PM-ship more likely. Watch as the satellites continue to fly.</li>
</ul>


ASML guiding for growth despite a big cut in China sales a positive roadmap for JP SPE also.
Memory prices continue to soar as makers stop issuing spot prices due to lack of inventory.
A LDP-JIP alliance makes a Takaichi PM-ship more likely. Watch as the satellites continue to fly.


Japan Morning Connection: ASML Sets the Tone for More AI Upside to Start in Japan

Japan

Kioxia Holdings Corporation manufactures semiconductor memory products. The Company develops, produces, and sells flash memory cards, solid state drives, secure digital memory cards, and other products. Kioxia Holdings also operates group management strategy formulation and management.

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Kioxia Holdings (285A JP)

Japan Morning Connection: Big Gains for Semi-Testers and Memory Sets Strong Tone (Again)

Smaller tester names may have room for further upside after Teradyne and Advantest surged. Any excessive weakness for Disco should be an oportunity...

Andrew Jackson

Japan Morning Connection: A Sea of Knockout Earnings Set to Send Tech and AI Surging

Teradyne's 3Q numbers set a strong tone for the testing market. Skyworks and Qorvo merging may be a negative for Murata which will have to compete...

Andrew Jackson

Japan Morning Connection: SOX to New Highs After CPI Greenlights Further Cuts and Risk-On Mood

Defense and nuclear could get a lift from the bilateral summit with Trump and PM Takaichi. Memory had another strong session on Friday. Excessive...

Andrew Jackson

Japan Morning Connection: AWS Outage and Calls for Improved Redundancy Infra Drives Tech and AI Up

Confirmation on Takaichi to become the PM sent heavies, nuclear and space related up. Power semi names did well with laggards getting picked up.

Andrew Jackson

Japan Morning Connection: ASML Sets the Tone for More AI Upside to Start in Japan

ASML numbers sent Japanese SPE higher in the afternoon. Memory names continued higher. Defence and utilities traded better as chances look better...

Andrew Jackson

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