Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>TSMC higher on news from the day before it is investing heavily in US fab capacity.</li>
<li>Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.</li>
<li>All eyes on Trumps speech to congress this morning, although markets should be firm off the open.</li>
</ul>


TSMC higher on news from the day before it is investing heavily in US fab capacity.
Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.
All eyes on Trumps speech to congress this morning, although markets should be firm off the open.


Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

<ul>
<li>Japan defence may be buoyed by comments from Frances Macron that spending needs to rise.</li>
<li>Wild ride for Kokusai Electric continues as outstanding short interest jumps 46% over the last week.</li>
<li>Kura Sushi bringing back free meals - limit up yesterday, but with a big SI will there be more today?</li>
</ul>


Japan defence may be buoyed by comments from Frances Macron that spending needs to rise.
Wild ride for Kokusai Electric continues as outstanding short interest jumps 46% over the last week.
Kura Sushi bringing back free meals - limit up yesterday, but with a big SI will there be more today?


Japan Morning Connection: Walmart Results Raising Questions over the Overall Economy

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Zero One

Founded in 2015, Zero One produces independent investment research and provides corporate finance advisory services with a focus on both listed and private technology companies. Founder Vincent Fernando has over 20 years of experience in US and Asia capital markets.

Independent Investment Research

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Rapidus Corporation -- The Japan-based semiconductor startup has emerged as a key part of the country’s ambition to reclaim a foothold in the advanced semiconductor manufacturing space.</li>
<li>How Rapidus Compares to TSMC -- Rapidus’s challenge is not only in catching up with TSMC’s leading-edge process nodes but also in ensuring manufacturing maturity and cost competitiveness.</li>
<li>Maintain Structural Long rating for TSMC -- Accumulate on market weakness. TSMC is partially insulated from U.S. tariff risks thanks to its position producing the most advanced chips.</li>
</ul>


Rapidus Corporation -- The Japan-based semiconductor startup has emerged as a key part of the country’s ambition to reclaim a foothold in the advanced semiconductor manufacturing space.
How Rapidus Compares to TSMC -- Rapidus’s challenge is not only in catching up with TSMC’s leading-edge process nodes but also in ensuring manufacturing maturity and cost competitiveness.
Maintain Structural Long rating for TSMC -- Accumulate on market weakness. TSMC is partially insulated from U.S. tariff risks thanks to its position producing the most advanced chips.


Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.</li>
<li>171 new CGRs were filed since 31-Dec-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.</li>
<li>A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.</li>
</ul>


TSE-Listed companies are asked to file "Management Conscious of Capital Cost/Stock Price" awareness reports/policies. Many have. Some are still working on it. And policies change, and CGR reports are updated.
171 new CGRs were filed since 31-Dec-2024. Our tools show every report, links to every document, and now a new diff file tool. Input a name, see the changes.
A surprising number of smaller companies have yet to file a MCoCC/SP Awareness report. As cross-holdings get sold down, I expect they will become activists targets in 2025.


Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Feb25), TSE Updates

<ul>
<li>Jensen in the White House did little to help NVDA on the spectre of further restrictions.</li>
<li>NEC +18% in one of its biggest moves ever on Friday as defense takes a bigger role.</li>
<li>Screen and Lasertec both reported earnings beats but its a mixed bag for both under the hood.</li>
</ul>


Jensen in the White House did little to help NVDA on the spectre of further restrictions.
NEC +18% in one of its biggest moves ever on Friday as defense takes a bigger role.
Screen and Lasertec both reported earnings beats but its a mixed bag for both under the hood.


Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

Japan

NEC Corporation manufactures and markets computers, telecommunication equipment, electronic devices, semiconductors, and software.  The Company's products include printers, modems, cellular phones, plasma display panels (PDP), network systems, memory, integrated circuits (IC), thin film transistor-liquid crystal display (TFT-LCD), and printed circuit boards (PCB). NEC operates worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

NEC Corp (6701 JP)

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Walmart Results Raising Questions over the Overall Economy

Japan's defense may see a boost with Macron's call for increased spending. Kokusai Electric's short interest surges. Kura Sushi limit up yesterday...

Andrew Jackson

Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...

Vincent Fernando, CFA

Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Feb25), TSE Updates

Every month the TSE provides a list of companies which have "Action To Implement Management Consciousness of Share Price/Cost of Capital." We do...

Travis Lundy

Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

NVDA down as further tariff and export restrictions expected, NEC makes biggest move as defence comes into focus in JP, Screen and Lasertec beat...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

​TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Walmart Results Raising Questions over the Overall Economy

​Japan's defense may see a boost with Macron's call for increased spending. Kokusai Electric's short interest surges. Kura Sushi limit up yesterday...

Andrew Jackson

Japan's Semiconductor Gamble: Can Rapidus Challenge TSMC?

​Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...

Vincent Fernando, CFA

Japan CorpGovReports: TSE "Mgmt Conscious of Capital Cost/Stock Price" Details (Feb25), TSE Updates

Every month the TSE provides a list of companies which have "Action To Implement Management Consciousness of Share Price/Cost of Capital." We do...

Travis Lundy

Japan Morning Connection: Trump Tariffs Set to Roil Markets to Start the Week

NVDA down as further tariff and export restrictions expected, NEC makes biggest move as defence comes into focus in JP, Screen and Lasertec beat...

Andrew Jackson

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Japan's defense may see a boost with Macron's call for increased spending. Kokusai Electric's short interest surges. Kura Sushi limit up yesterday...

Japan's Rapidus aims to boost country's semiconductor industry, but faces significant challenges in catching up to TSMC's advanced nodes and cost...