Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<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

<ul>
<li>Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.</li>
<li>Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.</li>
<li>Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.</li>
</ul>


Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.
Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.
Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.


Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

<ul>
<li>NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.</li>
<li>Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.</li>
<li>HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.</li>
</ul>


NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.
Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.
HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.


Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

<ul>
<li>Server related names higher after some big sales numbers and new product launches from SMCI should be a positive for Nidec</li>
<li>Watch for P&amp;C weakness in Japan following losses for peers overnight as Hurricane Milton intensifies as it approaches the Florida coast line</li>
<li>Oil back above $80 will continue to push related names higher; possible refiner pair with 4 days of TPX FFW selling for recent outperformer Idemitsu</li>
</ul>


Server related names higher after some big sales numbers and new product launches from SMCI should be a positive for Nidec
Watch for P&amp;C weakness in Japan following losses for peers overnight as Hurricane Milton intensifies as it approaches the Florida coast line
Oil back above $80 will continue to push related names higher; possible refiner pair with 4 days of TPX FFW selling for recent outperformer Idemitsu


Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

<ul>
<li>Yamaha Motor share sale by Toyota, Yamaha Corp and MS&amp;AD may take time to clear, but the outlook for Yamaha Motor is improving. Expect Yamaha Corp strength on buyback expectations.</li>
<li>Ueda signalling a slightly hawkish tone on Friday should be good for banks and utilities, but less good for exporters, tourism related and real estate.</li>
<li>6963 Rohm is starting to look interesting again with a few upcoming drivers which should help it rebound, including next weeks NKY225 rebalance announcement.</li>
</ul>


Yamaha Motor share sale by Toyota, Yamaha Corp and MS&amp;AD may take time to clear, but the outlook for Yamaha Motor is improving. Expect Yamaha Corp strength on buyback expectations.
Ueda signalling a slightly hawkish tone on Friday should be good for banks and utilities, but less good for exporters, tourism related and real estate.
6963 Rohm is starting to look interesting again with a few upcoming drivers which should help it rebound, including next weeks NKY225 rebalance announcement.


Japan Morning Connection: Yamaha Motor, Rohm, Kawasaki Heavy

Japan

MS&AD Insurance Group Holdings, Inc. is a holding company established through reorganization of Mitsui Sumitomo Insurance Company, Limited.  The Group writes marine, fire, casualty, automobile, life, and allied insurance policies. MS&AD Insurance Group also operates financial services and agencies.

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MS&AD Insurance (8725 JP)

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

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...

Andrew Jackson

Japan Morning Connection: Yamaha Motor, Rohm, Kawasaki Heavy

Yamaha Motor outlook improving with share sale, Ueda's hawkish tone favors banks and utilities, Rohm showing rebound potential with upcoming drivers.

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

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

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

​Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

NVDA +4.1% on comments from Hon Hai that demand for Blackwell chips was ‘crazy’, Oil related will follow US lower, HK futures off the lows should...

Andrew Jackson

Japan Morning Connection: Oil Through $80 While P&C Take a Hit on Hurricane Milton

​Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...

Andrew Jackson

Japan Morning Connection: Yamaha Motor, Rohm, Kawasaki Heavy

​Yamaha Motor outlook improving with share sale, Ueda's hawkish tone favors banks and utilities, Rohm showing rebound potential with upcoming drivers.

Andrew Jackson

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Positive sales numbers and new product launches from SMCI could benefit Nidec; P&C weakness expected due to Hurricane Milton; Oil above $80...

Yamaha Motor outlook improving with share sale, Ueda's hawkish tone favors banks and utilities, Rohm showing rebound potential with upcoming drivers.