Asia Pac ECM and Index Rebal, DZT 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 22nd. The aggregated net margin trading position is USD28,591m.</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, Fujikura, Mitsubishi UFJ Financial, SoftBank, Tokyo Kiraboshi Financial, Advantest, Fast Retailing, Sumitomo Mitsui Financial, Furukawa Electric, Mizuho Financial.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of May 22nd. The aggregated net margin trading position is USD28,591m.
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, Fujikura, Mitsubishi UFJ Financial, SoftBank, Tokyo Kiraboshi Financial, Advantest, Fast Retailing, Sumitomo Mitsui Financial, Furukawa Electric, Mizuho Financial.


JPX Margin Trading Weekly (May 22nd): Kioxia, Fujikura, Mitsubishi UFJ Financial, SoftBank

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Apr 17th. The aggregated net margin trading position is USD24,215m.</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, Advantest, SoftBank, Lasertec, Fujikura, Mitsubishi Heavy Industries, Furukawa Electric, JX Advanced Metals, Disco, Tokyo Electron.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Apr 17th. The aggregated net margin trading position is USD24,215m.
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, Advantest, SoftBank, Lasertec, Fujikura, Mitsubishi Heavy Industries, Furukawa Electric, JX Advanced Metals, Disco, Tokyo Electron.


JPX Margin Trading Weekly (Apr 17th): Kioxia, Advantest, SoftBank, Lasertec, Fujikura

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://www.smartkarma.com/entities/spindex-industries-ltd" target="_blank" data-smartkarma-citation="entities:17868:1" rel="noopener">Spindex Industries (SPE SP)</a> IFA has opined that the Chairman and PrimeMovers Equity’s scheme offer of S$1.43 is fair and reasonable.</li>
<li>The offer is at the upper end of the IFA valuation range of S$0.71 and S$1.44. The offer is at adjusted NAV and is attractive compared to historical trading ranges.</li>
<li>The absence of a disinterested shareholder holding a blocking stake and moderate retail ownership reduces voting risk. This is a done deal.</li>
</ul>


The Spindex Industries (SPE SP) IFA has opined that the Chairman and PrimeMovers Equity’s scheme offer of S$1.43 is fair and reasonable.
The offer is at the upper end of the IFA valuation range of S$0.71 and S$1.44. The offer is at adjusted NAV and is attractive compared to historical trading ranges.
The absence of a disinterested shareholder holding a blocking stake and moderate retail ownership reduces voting risk. This is a done deal.


Spindex Industries (SPE SP): Scheme Vote on 18 December

Japan

MetalArt Corporation, an affiliate of Nissho Iwai, processes and manufactures precision drop forged parts and metal molds.  The Company also sells automobile parts mainly to Daihatsu Motor and construction machinery parts to Komatsu and Kobe Steel.

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Metalart Corp (5644 JP)

JPX Margin Trading Weekly (May 22nd): Kioxia, Fujikura, Mitsubishi UFJ Financial, SoftBank

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Fujikura (5803 JP), Mitsubishi UFJ Financial...

Ke Yan, CFA, FRM

JPX Margin Trading Weekly (Apr 17th): Kioxia, Advantest, SoftBank, Lasertec, Fujikura

We analyzed JPX margin trading positions report for the past week and highlighted Kioxia (285A JP), Advantest (6857 JP), SoftBank (9984 JP),...

Ke Yan, CFA, FRM

Spindex Industries (SPE SP): Scheme Vote on 18 December

The offer is at the upper end of the IFA valuation range of S$0.71 and S$1.44. This is done. At the last close and for the 11 Feb 2026 payment, the...

Arun George

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