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 May 15th. The aggregated net margin trading position is USD27,467m.</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 Kioxia, Mitsubishi Heavy Industries, Lasertec, Disco, JX Advanced Metals, IHI, Furukawa Electric, Nintendo, Sumitomo Electric Industries, Mitsubishi.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of May 15th. The aggregated net margin trading position is USD27,467m.
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 Kioxia, Mitsubishi Heavy Industries, Lasertec, Disco, JX Advanced Metals, IHI, Furukawa Electric, Nintendo, Sumitomo Electric Industries, Mitsubishi.


JPX Margin Trading Weekly (May 15th): Kioxia, Mitsubishi Heavy Industries, Lasertec, Disco

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Zhongji Innolight   / Equity Capital Markets

<ul>
<li>Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.</li>
<li>On the IPO front, both the HK listings managed to do well over the past week.</li>
<li>On the placement front, there were a number of placements done across the region</li>
</ul>


Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.
On the IPO front, both the HK listings managed to do well over the past week.
On the placement front, there were a number of placements done across the region


Aequitas ECM Weekly (18 May 2026)- Innolight, Top Numerical, Hitachi Machinery, Kiraboshi, Alchip

Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria

Equity Analyst - Fundamental & Thematic

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

<ul>
<li>In this insight we discuss about <a href="https://www.smartkarma.com/entities/rohm-co-ltd" target="_blank" data-smartkarma-citation="entities:2953:1" rel="noopener">ROHM Co Ltd (6963 JP)</a> 's eventful and fantastic year FY2025.</li>
<li>We discuss about various attributes of growth in FY2025 and what would drive future growth.</li>
<li>Finally, we discuss our view on valuation, future growth despite the big increase in stock price since our initial work.</li>
</ul>


In this insight we discuss about ROHM Co Ltd (6963 JP) 's eventful and fantastic year FY2025.
We discuss about various attributes of growth in FY2025 and what would drive future growth.
Finally, we discuss our view on valuation, future growth despite the big increase in stock price since our initial work.


Rohm (6963JP):Closure to an Eventful & Fantastic Year; New Product Launches& Reforms to Drive Growth

<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 Mitsubishi UFJ Financial, Toyota Motor, Ana, Toyota Industries, Nissan Motor, Mizuho Financial, Honda Motor.</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 Mitsubishi UFJ Financial, Toyota Motor, Ana, Toyota Industries, Nissan Motor, Mizuho Financial, Honda Motor.


MS-Japan Index Earning Revision (Apr): Mitsubishi UFJ Financial, Toyota Motor, Ana

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

<ul>
<li>SanDisk reported fiscal Q3 2026 revenue of $5.95 billion, up 97% sequentially and 251% year-over-year, crushing guidance of $4.4 to $4.8 billion.</li>
<li>GAAP net income was $3.615 billion, or $23.03 diluted EPS. Non-GAAP EPS was $23.41, against guidance of $12 to $14. Non-GAAP gross margin was 78.4%, versus guided 65% to 67%.</li>
<li>"This is what makes this franchise such a spectacular cash generator: capex as a percent of revenue is continuing to go down substantially". CEO David Goeckeler</li>
</ul>


SanDisk reported fiscal Q3 2026 revenue of $5.95 billion, up 97% sequentially and 251% year-over-year, crushing guidance of $4.4 to $4.8 billion.
GAAP net income was $3.615 billion, or $23.03 diluted EPS. Non-GAAP EPS was $23.41, against guidance of $12 to $14. Non-GAAP gross margin was 78.4%, versus guided 65% to 67%.
"This is what makes this franchise such a spectacular cash generator: capex as a percent of revenue is continuing to go down substantially". CEO David Goeckeler


SanDisk Q3 FY2026. The Spectacular Cash Generator Fires Up

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)

JPX Margin Trading Weekly (May 15th): Kioxia, Mitsubishi Heavy Industries, Lasertec, Disco

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Mitsubishi Heavy Industries (7011 JP), Lasertec...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (18 May 2026)- Innolight, Top Numerical, Hitachi Machinery, Kiraboshi, Alchip

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Rohm (6963JP):Closure to an Eventful & Fantastic Year; New Product Launches& Reforms to Drive Growth

Insight on ROHM Co Ltd's eventful and fantastic year in FY2025, highlighting growth drivers,valuation and future prospects despite stock price surge.

Sreemant Dudhoria

MS-Japan Index Earning Revision (Apr): Mitsubishi UFJ Financial, Toyota Motor, Ana

We analyzed MS-Japan's consensus for Apr 2026 and highlighted changes of EPS in Mitsubishi UFJ Financial, Toyota Motor, Ana, Toyota Industries,...

Ke Yan, CFA, FRM

SanDisk Q3 FY2026. The Spectacular Cash Generator Fires Up

"This is what makes this franchise such a spectacular cash generator: capex as a percent of revenue is continuing to go down substantially". CEO...

William Keating

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

JPX Margin Trading Weekly (May 15th): Kioxia, Mitsubishi Heavy Industries, Lasertec, Disco

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Mitsubishi Heavy Industries (7011 JP), Lasertec...

Ke Yan, CFA, FRM

Aequitas ECM Weekly (18 May 2026)- Innolight, Top Numerical, Hitachi Machinery, Kiraboshi, Alchip

Aequitas Research's weekly update on the IPOs, placements, lockup expiry and other ECM linked events that were covered by the team over the past week.

Sumeet Singh

Rohm (6963JP):Closure to an Eventful & Fantastic Year; New Product Launches& Reforms to Drive Growth

​Insight on ROHM Co Ltd's eventful and fantastic year in FY2025, highlighting growth drivers,valuation and future prospects despite stock price surge.

Sreemant Dudhoria

MS-Japan Index Earning Revision (Apr): Mitsubishi UFJ Financial, Toyota Motor, Ana

We analyzed MS-Japan's consensus for Apr 2026 and highlighted changes of EPS in Mitsubishi UFJ Financial, Toyota Motor, Ana, Toyota Industries,...

Ke Yan, CFA, FRM

SanDisk Q3 FY2026. The Spectacular Cash Generator Fires Up

"This is what makes this franchise such a spectacular cash generator: capex as a percent of revenue is continuing to go down substantially". CEO...

William Keating

Insight on ROHM Co Ltd's eventful and fantastic year in FY2025, highlighting growth drivers,valuation and future prospects despite stock price surge.