Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Breakout move higher for Lam Research should add some more zest to TEL which continues to lag.</li>
<li>Sandisk 14% as NAND heats up, but has Kioxia gone too far with huge blocks probably not too far off.</li>
<li>US Eco data cements expectations for a Sep cut sending rates down and home builders up.</li>
</ul>


Breakout move higher for Lam Research should add some more zest to TEL which continues to lag.
Sandisk 14% as NAND heats up, but has Kioxia gone too far with huge blocks probably not too far off.
US Eco data cements expectations for a Sep cut sending rates down and home builders up.


Japan Morning Connection: Tech Strength Continues with a Swing to Semi-Cap, Boding Well for Japan

<ul>
<li>Broadcom up another 10% on potential demand for ASIC, expect Socionext to catch a bid after yesterdays pause.</li>
<li>Market turning more sour on Apple's latest offerings pulling suppliers lower.</li>
<li>EDA names are reeling from China export restrictions with Synopsis -36% pulling Cadence lower also.</li>
</ul>


Broadcom up another 10% on potential demand for ASIC, expect Socionext to catch a bid after yesterdays pause.
Market turning more sour on Apple's latest offerings pulling suppliers lower.
EDA names are reeling from China export restrictions with Synopsis -36% pulling Cadence lower also.


Japan Morning Connection: Oracle +36% Pulls Most AI Related Sharply Higher, Expect Softbank Strength

<ul>
<li>Apple reveal not enough to send the stock higher, although its new IPhone Pro and ear pods with built in heart rate monitoring impress.</li>
<li>Alphabet sends the Mag7 to a record high with its cloud computing order backlog bigger than expected.</li>
<li>Wolfspeed +48% as it gets set to emerge from bankruptcy, although this should be no surprise. Positive Renesas</li>
</ul>


Apple reveal not enough to send the stock higher, although its new IPhone Pro and ear pods with built in heart rate monitoring impress.
Alphabet sends the Mag7 to a record high with its cloud computing order backlog bigger than expected.
Wolfspeed +48% as it gets set to emerge from bankruptcy, although this should be no surprise. Positive Renesas


Japan Morning Connection: Oracle Blows the Doors off as the AI Train Shows No Sign of a Slowdown

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

Pan Pacific International Holdings / Index Rebalance

<ul>
<li>Today, the results of the Nikkei 225 Sep2025 Periodic Review were announced, discussed in <a href="https://www.smartkarma.com/insights/quiddity-index-nikkei-225-sep25-review-shift-3697-in-citizen-watch-7762-out-kokusai-misses" target="_blank" data-smartkarma-citation="insights:200727" rel="noopener">[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses</a>. </li>
<li>That means we can look at the March 2026 Periodic Review with a fair bit of accuracy. </li>
<li>It is likely to be the runner-ups in the Sep25 review, though the second-runner-up ADD needs a stock split to have any chance. As always, more below the fold!</li>
</ul>


Today, the results of the Nikkei 225 Sep2025 Periodic Review were announced, discussed in [Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses. 
That means we can look at the March 2026 Periodic Review with a fair bit of accuracy. 
It is likely to be the runner-ups in the Sep25 review, though the second-runner-up ADD needs a stock split to have any chance. As always, more below the fold!


[Quiddity Index] Nikkei 225 Mar26 Leaderboards; Probably One IN, One OUT

<ul>
<li>Today, in the latest announcement in 17 years, the Nikkei Index Committee announced there would be only one change to the Nikkei 225 at the 30 Sep close. </li>
<li>
<a href="https://www.smartkarma.com/entities/shift-inc" target="_blank" data-smartkarma-citation="entities:7266:1" rel="noopener">Shift Inc (3697 JP)</a> is IN. <a href="https://www.smartkarma.com/entities/citizen-watch-co-ltd" target="_blank" data-smartkarma-citation="entities:8571:1" rel="noopener">Citizen Watch (7762 JP)</a> is OUT. <a href="https://www.smartkarma.com/entities/baycurrent-consulting-inc" target="_blank" data-smartkarma-citation="entities:25985:1" rel="noopener">BayCurrent Consulting (6532 JP)</a> is uplifted. Sony Financial Spin is out 29 Sep. <a href="https://www.smartkarma.com/entities/kokusai-electric-corp" target="_blank" data-smartkarma-citation="entities:40152:1" rel="noopener">Kokusai Electric (6525 JP)</a>? MIA. </li>
<li>In dollar terms it is smallish. In ADV terms there are some big changes. And this puts Kokusai Electric back possibly years. </li>
</ul>


Today, in the latest announcement in 17 years, the Nikkei Index Committee announced there would be only one change to the Nikkei 225 at the 30 Sep close. 

Shift Inc (3697 JP) is IN. Citizen Watch (7762 JP) is OUT. BayCurrent Consulting (6532 JP) is uplifted. Sony Financial Spin is out 29 Sep. Kokusai Electric (6525 JP)? MIA. 
In dollar terms it is smallish. In ADV terms there are some big changes. And this puts Kokusai Electric back possibly years. 


[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses

Japan

Kokusai Electric Corporation manufactures and distributes semiconductor manufacturing systems. The Company produces batch processing systems, single wafer processing systems, and other systems. Kokusai Electric also operates advanced thermal process technology development, training, and other businesses.

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Kokusai Electric (6525 JP)

Japan Morning Connection: Tech Strength Continues with a Swing to Semi-Cap, Boding Well for Japan

EDA names bounce back after yesterdays weakness. TEL flagged as an interesting underperforer. Kioxia may be running out of room to climb higher.

Andrew Jackson

Japan Morning Connection: Oracle Blows the Doors off as the AI Train Shows No Sign of a Slowdown

Apple and its suppliers pulled lower. Laggards in the SPE space should get a lift after Oracle's big jump in late trading. A pullback in...

Andrew Jackson

[Quiddity Index] Nikkei 225 Mar26 Leaderboards; Probably One IN, One OUT

The Sep25 Nikkei 225 Periodic Review is announced. That means the Mar26 review can be predicted with a fair bit of accuracy. I see one ADD one...

Travis Lundy

[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses

The Nikkei Index Committee chose to just change one name. Again disappointing. Kokusai misses out as Shift is added, Citizen Watch removed. ADV...

Travis Lundy

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Japan Morning Connection: Tech Strength Continues with a Swing to Semi-Cap, Boding Well for Japan

EDA names bounce back after yesterdays weakness. TEL flagged as an interesting underperforer. Kioxia may be running out of room to climb higher.

Andrew Jackson

Japan Morning Connection: Oracle +36% Pulls Most AI Related Sharply Higher, Expect Softbank Strength

iPhone Air failed to impress, sending Apple lower. Oracle's success read as being negative for other AI hyper scalers. Synopsis down from export...

Andrew Jackson

Japan Morning Connection: Oracle Blows the Doors off as the AI Train Shows No Sign of a Slowdown

Apple and its suppliers pulled lower. Laggards in the SPE space should get a lift after Oracle's big jump in late trading. A pullback in...

Andrew Jackson

[Quiddity Index] Nikkei 225 Mar26 Leaderboards; Probably One IN, One OUT

The Sep25 Nikkei 225 Periodic Review is announced. That means the Mar26 review can be predicted with a fair bit of accuracy. I see one ADD one...

Travis Lundy

[Quiddity Index] Nikkei 225 Sep25 Review: Shift (3697) In, Citizen Watch (7762) Out. Kokusai Misses

The Nikkei Index Committee chose to just change one name. Again disappointing. Kokusai misses out as Shift is added, Citizen Watch removed. ADV...

Travis Lundy