Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.</li>
<li>Trump touting Govt buying $200bn worth of MBS as panacea for housing.</li>
<li>Defense higher again, while Fast Retailing and Disco post good numbers.</li>
</ul>


Trump Intel meetings sends INTC higher in late trading...better for fab suppliers than tape suggests.
Trump touting Govt buying $200bn worth of MBS as panacea for housing.
Defense higher again, while Fast Retailing and Disco post good numbers.


Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

<ul>
<li>Credo gains read well for connectivity plays but Astera Labs ran out of steam after early pop.</li>
<li>Intel higher still after Apple reportedly signs NDA to explore 18A for the M-series.</li>
<li>Power and industrial semi names led higher by NXP after upbeat comments at UBS conference.</li>
</ul>


Credo gains read well for connectivity plays but Astera Labs ran out of steam after early pop.
Intel higher still after Apple reportedly signs NDA to explore 18A for the M-series.
Power and industrial semi names led higher by NXP after upbeat comments at UBS conference.


Japan Morning Connection: Boeing FCF Back on Track a Good Sign for JP Heavies and CF Makers

<ul>
<li>SMCI (bad)and AMD (good) numbers failing to lift the mood AH with CEO’s of GS, MS, Capital Group calling for a correction.</li>
<li>Lasertec, Advantest, TEL and Kokusai likely to wobble at the open, but it may be too early for dip-buying yet.</li>
<li>Nintendo posts impressive numbers and guidance looks obviously conservative with the NSW2 set to be their best selling console ever.</li>
</ul>


SMCI (bad)and AMD (good) numbers failing to lift the mood AH with CEO’s of GS, MS, Capital Group calling for a correction.
Lasertec, Advantest, TEL and Kokusai likely to wobble at the open, but it may be too early for dip-buying yet.
Nintendo posts impressive numbers and guidance looks obviously conservative with the NSW2 set to be their best selling console ever.


Japan Morning Connection: AI Takes a Hit Overnight on Renewed Calls that the AI Market Is Overheated

<ul>
<li>Decent Onsemi numbers point to a more broad-based recovery, but the end of the Nexperia disruption may be seen as negative for  Rohm and Renesas</li>
<li>Socionext +17% on Fri on Google's Willow news but likely to give it all back on poor guidance</li>
<li>SEI, TDK, Lasertec and TEL all pointing up, Screen down on timing issue</li>
</ul>


Decent Onsemi numbers point to a more broad-based recovery, but the end of the Nexperia disruption may be seen as negative for  Rohm and Renesas
Socionext +17% on Fri on Google's Willow news but likely to give it all back on poor guidance
SEI, TDK, Lasertec and TEL all pointing up, Screen down on timing issue


Japan Morning Connection: AI Related Earnings from Fri and a Strong Tape Set to Send JP Higher

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.</li>
<li>In our prior Int'l Compass (Oct. 16) we discussed how the pullback was testing the uptrend, and we were buyers; this worked out well with indexes back at all-time highs.</li>
<li>Taiwan, China, Korea, and the U.S. remain our only overweights, but India is becoming more attractive as well -- add selective exposure. Many buy ideas highlighted in these countries.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass), with Int’l Compass reports all echoing this sentiment.
In our prior Int'l Compass (Oct. 16) we discussed how the pullback was testing the uptrend, and we were buyers; this worked out well with indexes back at all-time highs.
Taiwan, China, Korea, and the U.S. remain our only overweights, but India is becoming more attractive as well -- add selective exposure. Many buy ideas highlighted in these countries.


India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

Japan

Lasertec Corporation develops, designs, manufactures and markets photomask inspection systems to make semiconductor devices, confocal scanning laser microscopes and liquid crystal display (LCD) inspection systems.

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Lasertec Corp (6920 JP)

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Japan Morning Connection: Boeing FCF Back on Track a Good Sign for JP Heavies and CF Makers

Memory names took a back seat, while power and industrial semi's were lifted by upbeat comments at a UBS conference. Intel had another strong move...

Andrew Jackson

Japan Morning Connection: AI Takes a Hit Overnight on Renewed Calls that the AI Market Is Overheated

Nintendo guidance looks conservative, with CEO comments that the NSW2 could surpass the Nintendo DS as the best selling console ever. SMCI -10% in...

Andrew Jackson

India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

India's $SENSEX Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.; Bullish Outlook Intact on $ACWI; Actionable...

Vermilion Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Heat Comes Out of AI While Homebuilders Rebound Sharply

JP defense names trading below their 2025 highs while global names run higher. Uniqlo's strong earnings release in Japan and Greater China bodes...

Andrew Jackson

Japan Morning Connection: Boeing FCF Back on Track a Good Sign for JP Heavies and CF Makers

Memory names took a back seat, while power and industrial semi's were lifted by upbeat comments at a UBS conference. Intel had another strong move...

Andrew Jackson

Japan Morning Connection: AI Takes a Hit Overnight on Renewed Calls that the AI Market Is Overheated

Nintendo guidance looks conservative, with CEO comments that the NSW2 could surpass the Nintendo DS as the best selling console ever. SMCI -10% in...

Andrew Jackson

Japan Morning Connection: AI Related Earnings from Fri and a Strong Tape Set to Send JP Higher

Any weakness for Screen may be an opportunity to buy. Socionext's poor earnings may lead it to give back its large gains from Friday. SEI expected...

Andrew Jackson

India Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.

India's $SENSEX Finally Showing Signs of Life; Remain Overweight Taiwan, China, Korea, and the U.S.; Bullish Outlook Intact on $ACWI; Actionable...

Vermilion Research