Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech sell-off sets a weak tone for Japanese SPE after some big gains yesterday.</li>
<li>Good set of numbers for Advantest should buck this trend, although upside may be capped.</li>
<li>Is the big growth story for Hitachi, now +700% off its CV-19 lows finally over after its earnings and guidance miss?</li>
</ul>


Tech sell-off sets a weak tone for Japanese SPE after some big gains yesterday.
Good set of numbers for Advantest should buck this trend, although upside may be capped.
Is the big growth story for Hitachi, now +700% off its CV-19 lows finally over after its earnings and guidance miss?


Japan Morning Connection: Apple Suppliers in Focus After a Big Miss by Qorvo

<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>Big gains for semi related after Micron's big beat, although the lions share of this may have priced in during Asian trading yesterday.</li>
<li>China related names in Japan look set to continue gains with HSI futures strong overnight and names like Estee Lauder +10% and L'Oreal +7% overnight.</li>
<li>Election day in Japan, with voting kicking off at JST, results, or at least a strong indication should be known before market close today.</li>
</ul>


Big gains for semi related after Micron's big beat, although the lions share of this may have priced in during Asian trading yesterday.
China related names in Japan look set to continue gains with HSI futures strong overnight and names like Estee Lauder +10% and L'Oreal +7% overnight.
Election day in Japan, with voting kicking off at JST, results, or at least a strong indication should be known before market close today.


Japan Morning Connection: China Related Names Set to Continue Gains

<ul>
<li>Positive sentiment from Intel's deal with AWS and extra Govt. backing may outweigh plans to delay its EU fab capex for JP SPE suppliers.</li>
<li>Concerns iPhone 16 Pro preorders are below expectations to weigh on JP component suppliers, but can this be much of a surprise?</li>
<li>The JP Govt. agreeing for 7&amp;I to be designated as a 'core' company is not a show-stopper and may compel Couche-Tard to up their game.</li>
</ul>


Positive sentiment from Intel's deal with AWS and extra Govt. backing may outweigh plans to delay its EU fab capex for JP SPE suppliers.
Concerns iPhone 16 Pro preorders are below expectations to weigh on JP component suppliers, but can this be much of a surprise?
The JP Govt. agreeing for 7&amp;I to be designated as a 'core' company is not a show-stopper and may compel Couche-Tard to up their game.


Japan Morning Connection: IPhone 16 Pro Orders Miss Expectations

<ul>
<li>Tech rebounds overnight led by AI related, although concerns weighing on China export names including ASML.</li>
<li>Oracle numbers beating after hours setting a positive tone for software as well as some SPE, with capex plans set to double YoY.</li>
<li>Nothing amazing from the Apple event likely to weigh on Japanese suppliers, although little expectation priced in. ARM and Softbank the big winners, with V9 chips running the new iPhones.</li>
</ul>


Tech rebounds overnight led by AI related, although concerns weighing on China export names including ASML.
Oracle numbers beating after hours setting a positive tone for software as well as some SPE, with capex plans set to double YoY.
Nothing amazing from the Apple event likely to weigh on Japanese suppliers, although little expectation priced in. ARM and Softbank the big winners, with V9 chips running the new iPhones.


Japan Morning Connection: Tech Rebound Setting Positive Tone to Start

Japan

MURATA MANUFACTURING COMPANY, LTD. manufactures and sells ceramic applied electronic components.  The Company's products include filters, capacitors, thermistors, resistors, noise suppression components, coils, piezoelectric sound components, power supplies, sensors, hybrid integrated circuit (IC), and microwave components.

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Murata Manufacturing (6981 JP)

Japan Morning Connection: Apple Suppliers in Focus After a Big Miss by Qorvo

Tech sell-off sets weak tone for Japanese SPE after yesterday's gains, however Advantest's strong numbers may provide support. Hitachi's growth...

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: IPhone 16 Pro Orders Miss Expectations

Positive sentiment from Intel's deal with AWS and Govt. iPhone 16 Pro miss will weigh on JP component suppliers. JP Govt. designating 7&I as...

Andrew Jackson

Japan Morning Connection: Tech Rebound Setting Positive Tone to Start

AI Tech rebound overnight. Oracle beats expectation setting positive tone for software. ARM and Softbank benefit with V9 chips in new iPhones.

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Apple Suppliers in Focus After a Big Miss by Qorvo

​Tech sell-off sets weak tone for Japanese SPE after yesterday's gains, however Advantest's strong numbers may provide support. Hitachi's growth...

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: China Related Names Set to Continue Gains

Big gains for semi-conductor related names after Micron's strong performance. China-related names set to continue gains. Election day results in...

Andrew Jackson

Japan Morning Connection: IPhone 16 Pro Orders Miss Expectations

​Positive sentiment from Intel's deal with AWS and Govt. iPhone 16 Pro miss will weigh on JP component suppliers. JP Govt. designating 7&I as...

Andrew Jackson

Japan Morning Connection: Tech Rebound Setting Positive Tone to Start

AI Tech rebound overnight. Oracle beats expectation setting positive tone for software. ARM and Softbank benefit with V9 chips in new iPhones.

Andrew Jackson

Tech sell-off sets weak tone for Japanese SPE after yesterday's gains, however Advantest's strong numbers may provide support. Hitachi's growth...

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

Positive sentiment from Intel's deal with AWS and Govt. iPhone 16 Pro miss will weigh on JP component suppliers. JP Govt. designating 7&I as...