Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>The Nikkei reported this AM that <a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a> CEO was considering increasing shareholder returns this fiscal year. It already has a juicy div and a ¥100bn buyback.</li>
<li>The company announced its buyback, and an agreement by two holders of 39% to sell in a ToSTNeT-3 buy, then started buying in the market. Results are impactful.</li>
<li>The shares are up today on this news, though they gave some back after the BOJ news. The outlook for more share price impact is not bad. </li>
</ul>


The Nikkei reported this AM that Kawasaki Kisen Kaisha (9107 JP) CEO was considering increasing shareholder returns this fiscal year. It already has a juicy div and a ¥100bn buyback.
The company announced its buyback, and an agreement by two holders of 39% to sell in a ToSTNeT-3 buy, then started buying in the market. Results are impactful.
The shares are up today on this news, though they gave some back after the BOJ news. The outlook for more share price impact is not bad. 


KLINE (9107) CEO Comes Out Swinging - More LPG Carriers and More Shareholder Returns THIS YEAR

<ul>
<li>In May, <a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a> announced better revenue, mixed OP, and in-line NP. Then for this year they announced bte Revenue, slightly bte OP, and ever-so-slightly-better NP guidance.</li>
<li>Then they announced a big ¥100bn buyback, discussed <a href="https://www.smartkarma.com/insights/kline-9107-more-profit-more-shareholder-return-3mo-buyback-inbound" target="_blank" rel="noopener">here</a>, doing ¥90.8bn quickly. Since then, ONE-derived dividends have been higher than people expected a year ago.  More cash. More shareholder returns</li>
<li>Now they have raised their capital return guidance for this MTMP, and upped to an additional ¥180bn beyond the existing increased guidance. That starts with ¥90bn of ToSTNeT-3 near-term.</li>
</ul>


In May, Kawasaki Kisen Kaisha (9107 JP) announced better revenue, mixed OP, and in-line NP. Then for this year they announced bte Revenue, slightly bte OP, and ever-so-slightly-better NP guidance.
Then they announced a big ¥100bn buyback, discussed here, doing ¥90.8bn quickly. Since then, ONE-derived dividends have been higher than people expected a year ago.  More cash. More shareholder returns
Now they have raised their capital return guidance for this MTMP, and upped to an additional ¥180bn beyond the existing increased guidance. That starts with ¥90bn of ToSTNeT-3 near-term.


Kline (9017) - Better Earnings, Another Buyback, Maybe Games, Maybe Market Impact

Asian Equities Analyst, Logistics & Transport, Tracking Traffic

Daniel Hellberg

Asian Equities Analyst, Logistics & Transport

Tracking Traffic

Focusing on Asian logistics, transportation, and travel companies

Equity Bottom-Up

AP Moeller - Maersk A/S / Equity Bottom-Up

<ul>
<li>Maersk's Q324 results were strong, fueled almost purely by higher freight rates</li>
<li>The company's peers have been reporting similar results since early 2024</li>
<li>We continue to believe that price momentum has peaked; AVOID the carriers</li>
</ul>


Maersk's Q324 results were strong, fueled almost purely by higher freight rates
The company's peers have been reporting similar results since early 2024
We continue to believe that price momentum has peaked; AVOID the carriers


Maersk Q324 Results: Giant Dane Finally Joins the Party, But Read-Through for Industry Is Limited

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.</li>
<li>Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.</li>
<li>Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.</li>
</ul>


Apple down hitting suppliers, with ARM and Qualcomm spat taking both lower. Watch Softbank for weakness.
Tesla earnings smashing it out of the park, will help buoy EV related including Nidec - whose own numbers yesterday were positive.
Texas Instruments +4% on numbers beat should help industrial elec names such as Rohm and Fuji Elec, despite lingering concerns.


Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

<ul>
<li>US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.</li>
<li>Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.</li>
<li>Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.</li>
</ul>


US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.
Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.
Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.


Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

Japan

Mitsui O.S.K. Lines, Ltd. provides marine transportation, warehousing, and cargo handling services.  The Company operates container ship, specialized carrier, oil tankers, and ferry.  Items transported include coal, iron ore, grain, logs, aluminum, cement, industrial salt, copper ore, wood chips, paper products, chemical products, gasoline and other petroleum products, LPG, and other cargoes.

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Mitsui O.S.K. Lines (9104 JP)

KLINE (9107) CEO Comes Out Swinging - More LPG Carriers and More Shareholder Returns THIS YEAR

K-Line's CEO in a Nikkei interview said they would expand their LNG carrier fleet by 60% from here to 2026. And they said they are considering...

Travis Lundy

Kline (9017) - Better Earnings, Another Buyback, Maybe Games, Maybe Market Impact

Last week, Mitsui OSK reported great earnings and revised guidance. And a buyback. Today KLINE did. Mitsui's goes a full year in-market. KLINE's is...

Travis Lundy

Maersk Q324 Results: Giant Dane Finally Joins the Party, But Read-Through for Industry Is Limited

Maersk reported a scary-good set of quarterly results on Halloween! But many of its peers have been enjoying similar price-driven improvements in...

Tracking Traffic

Japan Morning Connection: Tesla Big Beat and SK Hynix Numbers to Buoy Sentiment

Watch Softbank for weakness as ARM and Qualcomm brought lower by spat, Tesla's strong earnings will buoy EV related, Texas Instruments' positive...

Andrew Jackson

Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

US semiconductors and tech related setting a bullish tone for JP SPE. Steep drop in oil to hit Japex, Index and refiners. Fujitsu may face downside...

Andrew Jackson

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