Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>SMCI +11.6% has continued to surge higher lifting server related plays.</li>
<li>Kirin's partial sale of Kyowa Hakko Bio unlikely to met with much enthusiasm.</li>
<li>Will a future test-time growth trajectory slowdown for Advantest dampen sentiment?</li>
</ul>


SMCI +11.6% has continued to surge higher lifting server related plays.
Kirin's partial sale of Kyowa Hakko Bio unlikely to met with much enthusiasm.
Will a future test-time growth trajectory slowdown for Advantest dampen sentiment?


Japan Morning Connection: Bessent's Nomination for Treasury Secretary Seen as Stabilizing Markets

<ul>
<li>US rebound lacks breadth, and while tech should be strong to start it may be too early to predict an extended rally off the lows in Japan after yesterday's gains.</li>
<li>An SMCI after-market miss is dulling the mood which may also dent sentiment for AI/SPE related to start.</li>
<li>A good print from CAT sets a positive tone for the likes of 6301 Komatsu and 6326 Kubota who were both sold heavily in the recent panic.</li>
</ul>


US rebound lacks breadth, and while tech should be strong to start it may be too early to predict an extended rally off the lows in Japan after yesterday's gains.
An SMCI after-market miss is dulling the mood which may also dent sentiment for AI/SPE related to start.
A good print from CAT sets a positive tone for the likes of 6301 Komatsu and 6326 Kubota who were both sold heavily in the recent panic.


Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>April, which along with October is the month when many Japanese FMCG brands adjust prices, saw far fewer price hikes this year compared to 2023. </li>
<li>Even so, numerous major brands still announced hefty price increases for later in the year.</li>
<li>Meanwhile, government subsidies for utility costs are ending and the weak Yen is an increasing concern for many consumer-facing companies. </li>
</ul>


April, which along with October is the month when many Japanese FMCG brands adjust prices, saw far fewer price hikes this year compared to 2023. 
Even so, numerous major brands still announced hefty price increases for later in the year.
Meanwhile, government subsidies for utility costs are ending and the weak Yen is an increasing concern for many consumer-facing companies. 


Fewer Price Hikes in Spring, but Prices Still Rising

<ul>
<li>Japanese beer has long been famous for quality and quantity and today its top brands are major exports.</li>
<li>At home, however, the pandemic worsened a long-term decline in beer consumption (as well as wine and sake) as younger consumers switch to stronger drinks.</li>
<li>Unit sales have shrunk but alcohol per unit has soared as sales of highballs and Chuhai boom, forcing change on Japan's biggest beverage businesses like Kirin, Suntory, Sapporo and Asahi.</li>
</ul>


Japanese beer has long been famous for quality and quantity and today its top brands are major exports.
At home, however, the pandemic worsened a long-term decline in beer consumption (as well as wine and sake) as younger consumers switch to stronger drinks.
Unit sales have shrunk but alcohol per unit has soared as sales of highballs and Chuhai boom, forcing change on Japan's biggest beverage businesses like Kirin, Suntory, Sapporo and Asahi.


Less Beer and Sake Please, We're Japanese (But Lots More Highballs Thank You)

<ul>
<li>New regulations due in April are forcing Japan’s logistics industry to evolve rapidly and seek efficiencies to offset a drastic shortage of drivers.</li>
<li>Most firms are aware of the long-term gains that removing inefficiencies in the current system will lead to and should result in improved operating margins.</li>
<li>The government announced new support policies and many consumers say they are willing to accept slower deliveries, which should lower costs for e-commerce.</li>
</ul>


New regulations due in April are forcing Japan’s logistics industry to evolve rapidly and seek efficiencies to offset a drastic shortage of drivers.
Most firms are aware of the long-term gains that removing inefficiencies in the current system will lead to and should result in improved operating margins.
The government announced new support policies and many consumers say they are willing to accept slower deliveries, which should lower costs for e-commerce.


Better Logistics, Slower Shipping, Lower Costs, Higher Profits

Japan

Kirin Holdings Company, Limited produces beer, soft drinks, food products, whisky, and pharmaceuticals.  The Company sells its products in Japan and overseas.

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Kirin Holdings (2503 JP)

Japan Morning Connection: Bessent's Nomination for Treasury Secretary Seen as Stabilizing Markets

SMCI stock continues to climb higher, boosting server-related. Kirin's sale of Kyowa Hakko Bio may not be met with enthusiasm. Concerns about...

Andrew Jackson

Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...

Andrew Jackson

Fewer Price Hikes in Spring, but Prices Still Rising

April saw fewer price hikes on the year, but major brands are still planning hefty increases soon. Government subsidies for utilities are ending...

Michael Causton

Less Beer and Sake Please, We're Japanese (But Lots More Highballs Thank You)

Japanese beer exports thrive while domestic consumption declines due to younger consumers favoring stronger drinks like highballs and Chuhai,...

Michael Causton

Better Logistics, Slower Shipping, Lower Costs, Higher Profits

Japan's distribution industry is adapting to new regulations due in April, addressing driver shortages and resulting in new efficiencies that will...

Michael Causton

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Bessent's Nomination for Treasury Secretary Seen as Stabilizing Markets

​SMCI stock continues to climb higher, boosting server-related. Kirin's sale of Kyowa Hakko Bio may not be met with enthusiasm. Concerns about...

Andrew Jackson

Japan Morning Connection: 6301 JP, 6326 JP, 2503 JP

​US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...

Andrew Jackson

Fewer Price Hikes in Spring, but Prices Still Rising

April saw fewer price hikes on the year, but major brands are still planning hefty increases soon. Government subsidies for utilities are ending...

Michael Causton

Less Beer and Sake Please, We're Japanese (But Lots More Highballs Thank You)

​Japanese beer exports thrive while domestic consumption declines due to younger consumers favoring stronger drinks like highballs and Chuhai,...

Michael Causton

Better Logistics, Slower Shipping, Lower Costs, Higher Profits

​Japan's distribution industry is adapting to new regulations due in April, addressing driver shortages and resulting in new efficiencies that will...

Michael Causton

SMCI stock continues to climb higher, boosting server-related. Kirin's sale of Kyowa Hakko Bio may not be met with enthusiasm. Concerns about...

US rebound lacks breadth, tech may be strong but early to predict extended rally in Japan. SMCI after-market miss may dent sentiment, CAT's good...

Japanese beer exports thrive while domestic consumption declines due to younger consumers favoring stronger drinks like highballs and Chuhai,...

Japan's distribution industry is adapting to new regulations due in April, addressing driver shortages and resulting in new efficiencies that will...