Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Index Rebalance

<ul>
<li>The March 2025 Nikkei 225 review came out with a sparse set of changes. That gives us hints for the September 2025 review.</li>
<li>For the moment, that leads me to believe we get ONE ADD and ONE DELETE though up to three of each is possible.</li>
<li>For now, <a href="https://www.smartkarma.com/entities/fast-retailing-co-ltd" target="_blank" data-smartkarma-citation="entities:751:1" rel="noopener">Fast Retailing (9983 JP)</a> capping is off, but there's an ad hoc coming in late Q3 or early Q4 and the Sony Financial spinoff to look forward to.</li>
</ul>


The March 2025 Nikkei 225 review came out with a sparse set of changes. That gives us hints for the September 2025 review.
For the moment, that leads me to believe we get ONE ADD and ONE DELETE though up to three of each is possible.
For now, Fast Retailing (9983 JP) capping is off, but there's an ad hoc coming in late Q3 or early Q4 and the Sony Financial spinoff to look forward to.


[Quiddity Index] Nikkei 225 Sep25 Rebal: One ADD/DEL? Kokusai a Question, but 2 Ad Hoc Events Coming

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Defense related plays stronger as the potential for US direct involvement in Iran grows...watch heavies for more upside.</li>
<li>Kioxia squeeze unlikely to last now lock-up expiry now past.</li>
<li>Nintendo back at the highs, but with record sales already priced in and Switch2 sold out a correction from here looks likely.</li>
</ul>


Defense related plays stronger as the potential for US direct involvement in Iran grows...watch heavies for more upside.
Kioxia squeeze unlikely to last now lock-up expiry now past.
Nintendo back at the highs, but with record sales already priced in and Switch2 sold out a correction from here looks likely.


Japan Morning Connection: Risk-Off Tape Unlikely to Last with Regime Change the Most Likely Outcome

<ul>
<li>Big gains for AMD with analysts more upbeat than last weeks reaction to its AI conference suggests.</li>
<li>Advantest 9.6% yesterday on broker comments should see market hunting for laggards such as Kokusai Electric.</li>
<li>Estee lauder seeing an uptick in China may help beleaguered Shiseido and Kose move higher.</li>
</ul>


Big gains for AMD with analysts more upbeat than last weeks reaction to its AI conference suggests.
Advantest 9.6% yesterday on broker comments should see market hunting for laggards such as Kokusai Electric.
Estee lauder seeing an uptick in China may help beleaguered Shiseido and Kose move higher.


Japan Morning Connection: Markets Seeing Iran's Potential Demise as Fuel to Risk-On Fire

<ul>
<li>Intel relief rally didn't last, but Broadcom rebounded after a week of selling despite Apple weakness.</li>
<li>Oracle is 7% in late-trading after posting very bullish cloud and cloud infra guidance.</li>
<li>Record sales for Nintendo's Switch2 console not enough to keep stock moving higher.</li>
</ul>


Intel relief rally didn't last, but Broadcom rebounded after a week of selling despite Apple weakness.
Oracle is 7% in late-trading after posting very bullish cloud and cloud infra guidance.
Record sales for Nintendo's Switch2 console not enough to keep stock moving higher.


Japan Morning Connection: Rumors Micron May Lift DDR4 Prices Lifts Sentiment for All Things Memory

<ul>
<li>Applied Digital landing a big data center order from CoreWeave lifting AI related plays setting upbeat tone for SPE.</li>
<li>Big Chinese SiC capacity coming online further adding to the price pressures for Rohm.</li>
<li>Square Enix cancelling its 'Project Gemini' with Polish developer another foreign flop reminiscent of Avengers?</li>
</ul>


Applied Digital landing a big data center order from CoreWeave lifting AI related plays setting upbeat tone for SPE.
Big Chinese SiC capacity coming online further adding to the price pressures for Rohm.
Square Enix cancelling its 'Project Gemini' with Polish developer another foreign flop reminiscent of Avengers?


Japan Morning Connection: Markets Rising from Morning Lows on Expectations for a Trump-Xi Call

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)

[Quiddity Index] Nikkei 225 Sep25 Rebal: One ADD/DEL? Kokusai a Question, but 2 Ad Hoc Events Coming

The Nikkei 225 Sep rebal has just 0.6% of its data window left. Rankings are basically fixed. Fastie capping depends on next 6wks. I see 1 Add/Del;...

Travis Lundy

Japan Morning Connection: Risk-Off Tape Unlikely to Last with Regime Change the Most Likely Outcome

Pressure on US homebuilders with crackdowns on undocumented workers. Nintendo may face correction from its highs as sales for new console are...

Andrew Jackson

Japan Morning Connection: Markets Seeing Iran's Potential Demise as Fuel to Risk-On Fire

Japan SPE underperformers may catch a bid. Estee Lauder's jump up has positive implications for Japan's Shiseido and Kose.

Andrew Jackson

Japan Morning Connection: Rumors Micron May Lift DDR4 Prices Lifts Sentiment for All Things Memory

Broadcom rebounds after earnings driven weakness. Quantum names up after positive comments from Jensen Huang. Nintendo's record sales fail to...

Andrew Jackson

Japan Morning Connection: Markets Rising from Morning Lows on Expectations for a Trump-Xi Call

Applied Digital secures big data center order, setting a good tone for AI and SPE. Chinese SiC capacity increase adds pressure for Rohm. Potential...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

[Quiddity Index] Nikkei 225 Sep25 Rebal: One ADD/DEL? Kokusai a Question, but 2 Ad Hoc Events Coming

The Nikkei 225 Sep rebal has just 0.6% of its data window left. Rankings are basically fixed. Fastie capping depends on next 6wks. I see 1 Add/Del;...

Travis Lundy

Japan Morning Connection: Risk-Off Tape Unlikely to Last with Regime Change the Most Likely Outcome

Pressure on US homebuilders with crackdowns on undocumented workers. Nintendo may face correction from its highs as sales for new console are...

Andrew Jackson

Japan Morning Connection: Markets Seeing Iran's Potential Demise as Fuel to Risk-On Fire

Japan SPE underperformers may catch a bid. Estee Lauder's jump up has positive implications for Japan's Shiseido and Kose.

Andrew Jackson

Japan Morning Connection: Rumors Micron May Lift DDR4 Prices Lifts Sentiment for All Things Memory

​Broadcom rebounds after earnings driven weakness. Quantum names up after positive comments from Jensen Huang. Nintendo's record sales fail to...

Andrew Jackson

Japan Morning Connection: Markets Rising from Morning Lows on Expectations for a Trump-Xi Call

​Applied Digital secures big data center order, setting a good tone for AI and SPE. Chinese SiC capacity increase adds pressure for Rohm. Potential...

Andrew Jackson

Broadcom rebounds after earnings driven weakness. Quantum names up after positive comments from Jensen Huang. Nintendo's record sales fail to...

Applied Digital secures big data center order, setting a good tone for AI and SPE. Chinese SiC capacity increase adds pressure for Rohm. Potential...