Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Marvell the latest US tech major to raise its TAM for AI helping buoy related names.</li>
<li>Deal that sees Wolfspeed briefly dipping into chapter11 may bode well for Renesas.</li>
<li>Sega Sammy lays out plans to get its valuations up and inline with peers as games surge given their tariff resilience.</li>
</ul>


Marvell the latest US tech major to raise its TAM for AI helping buoy related names.
Deal that sees Wolfspeed briefly dipping into chapter11 may bode well for Renesas.
Sega Sammy lays out plans to get its valuations up and inline with peers as games surge given their tariff resilience.


Japan Morning Connection: Fears over Iran Continue to Diminish Despite the Spectre of US Involvement

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in margin trading positions of JPX stocks as of Jun 13th. The aggregated net margin trading position is USD17,593m.</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 Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor, Isuzu Motors, Skylark, Fujikura, Nintendo, Mcdonald's.</li>
</ul>


We analyzed the changes in margin trading positions of JPX stocks as of Jun 13th. The aggregated net margin trading position is USD17,593m.
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 Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor, Isuzu Motors, Skylark, Fujikura, Nintendo, Mcdonald's.


JPX Margin Trading Weekly (Jun 13th): Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor

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>Rumors That Mediatek's Upcoming Chips Could Outperform Apple's Chips Used in the iPhone 17</li>
<li>Samsung Beats TSMC to Win Key Nintendo Switch 2 Contract</li>
<li>PC Monitor: Commercial PC Demand Resilient; AI PC Momentum Builds W/ NVDA Blackwell-Powered Launches </li>
</ul>


Rumors That Mediatek's Upcoming Chips Could Outperform Apple's Chips Used in the iPhone 17
Samsung Beats TSMC to Win Key Nintendo Switch 2 Contract
PC Monitor: Commercial PC Demand Resilient; AI PC Momentum Builds W/ NVDA Blackwell-Powered Launches 


Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

Equity Capital Markets

<ul>
<li>A group of shareholders aims to raise around US$380m via selling around 4% of <a href="https://www.smartkarma.com/entities/isuzu-motors-ltd" target="_blank" data-smartkarma-citation="entities:14726:1" rel="noopener">Isuzu Motors (7202 JP).</a>
</li>
<li>Being another cross-shareholding unwind in Japan, it shouldn’t carry much negative connotations, in our view.</li>
<li>In this note, we will talk about the placement and run the deal through our ECM framework.</li>
</ul>


A group of shareholders aims to raise around US$380m via selling around 4% of Isuzu Motors (7202 JP).

Being another cross-shareholding unwind in Japan, it shouldn’t carry much negative connotations, in our view.
In this note, we will talk about the placement and run the deal through our ECM framework.


Isuzu Motors Placement - Relatively Small Deal Along with Buyback

<ul>
<li>Apple tariff threat likely just another scare tactic with markets failing to react excessively.</li>
<li>May see further Nuclear follow through after Trumps executive order Friday sends related names soaring.</li>
<li>Live-Action Elden Ring movie another positive angle for Bandai Namco which also has Gundan on the way.</li>
</ul>


Apple tariff threat likely just another scare tactic with markets failing to react excessively.
May see further Nuclear follow through after Trumps executive order Friday sends related names soaring.
Live-Action Elden Ring movie another positive angle for Bandai Namco which also has Gundan on the way.


Japan Morning Connection: US Down on Trump Tariff Threat but Deadline Extention Will Lift Mood

Japan

Nintendo Co., Ltd. develops, manufactures, and sells household leisure equipment. The Company produces home use video game hardware and software products. Nintendo markets its products throughout Japan.

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Nintendo (NTDOY US)

Japan Morning Connection: Fears over Iran Continue to Diminish Despite the Spectre of US Involvement

JP game companies Nintendo and Sega Sammy continue to rise. Battery names may start to suffer. Wolfspeed deal may positively impact Renesas.

Andrew Jackson

JPX Margin Trading Weekly (Jun 13th): Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor

We analyzed JPX margin trading positions report for the past week and highlighted Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor, Isuzu...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.

Vincent Fernando, CFA

Isuzu Motors Placement - Relatively Small Deal Along with Buyback

A group of shareholders aims to raise around US$380m via selling around 4% of Isuzu Motors (7202 JP). In this note, we talk about the deal dynamics.

Sumeet Singh

Japan Morning Connection: US Down on Trump Tariff Threat but Deadline Extention Will Lift Mood

Markets fail to react excessively to another Trump tarrif threat. Live-Action Elden Ring movie positive for Bandai Namco and Kadokawa. Rally for...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Fears over Iran Continue to Diminish Despite the Spectre of US Involvement

JP game companies Nintendo and Sega Sammy continue to rise. Battery names may start to suffer. Wolfspeed deal may positively impact Renesas.

Andrew Jackson

JPX Margin Trading Weekly (Jun 13th): Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor

We analyzed JPX margin trading positions report for the past week and highlighted Softbank, Fast Retailing, Ihi, Advantest, Toyota Motor, Isuzu...

Ke Yan, CFA, FRM

Taiwan Tech Weekly: Mediatek's New Chip Could Outperform Apple's; Samsung Beats TSMC, Wins Nintendo

​Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.

Vincent Fernando, CFA

Isuzu Motors Placement - Relatively Small Deal Along with Buyback

A group of shareholders aims to raise around US$380m via selling around 4% of Isuzu Motors (7202 JP). In this note, we talk about the deal dynamics.

Sumeet Singh

Japan Morning Connection: US Down on Trump Tariff Threat but Deadline Extention Will Lift Mood

Markets fail to react excessively to another Trump tarrif threat. Live-Action Elden Ring movie positive for Bandai Namco and Kadokawa. Rally for...

Andrew Jackson

Mediatek rumored to outperform Apple's chips, Samsung wins Nintendo Switch 2 contract, commercial PC demand resilient with AI momentum.