Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX +1.1% rebounds on Tech and Consumer led rally post strong housing, consumer confidence numbers; AI led names back strong after recent profit taking; China Primier says more stimulus</li>
<li>JAPAN. NKY Futs +0.8% vs Cash; USDJPY 144.1;  Speculation grows on MoF Yen intervention as Japan appoints official who led last years intervention; Nintendo Family Office prevails over Toyo Construction</li>
<li>NUGGET. KEPCO(9503) formed a 50-50 JV with US DataCenter specialist CyrusOne. Will look to get 900MW over then next 10 years.  Could be significant future earnings driver for KEPCO.</li>
</ul>


OVERSEAS. SPX +1.1% rebounds on Tech and Consumer led rally post strong housing, consumer confidence numbers; AI led names back strong after recent profit taking; China Primier says more stimulus
JAPAN. NKY Futs +0.8% vs Cash; USDJPY 144.1;  Speculation grows on MoF Yen intervention as Japan appoints official who led last years intervention; Nintendo Family Office prevails over Toyo Construction
NUGGET. KEPCO(9503) formed a 50-50 JV with US DataCenter specialist CyrusOne. Will look to get 900MW over then next 10 years.  Could be significant future earnings driver for KEPCO.


Ohayo Japan|SPX Rebounds on Raft of Good News; NUGGET: KEPCO(9503)-Nuke Restarts, Next Datacenters

Insight Provider, CrossASEAN Research

Nicolas Van Broekhoven

Insight Provider

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

Equity Bottom-Up

<ul>
<li>1983 was the year both TMNT and Mario Bros were created by two different animation studios</li>
<li>Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies </li>
<li>TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?</li>
</ul>


1983 was the year both TMNT and Mario Bros were created by two different animation studios
Mario Bros latest movie has now grossed $1.3 billion in box office receipts YTD, entering the all-time top-3 of animated movies 
TNMT will see its debut in US theatres on the 2nd of August 2023. Will the turtles get the same reception as Mario Bros?


Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

<ul>
<li>OVERSEAS. SPX Closed +0.1% on Friday/WoW +0.4% confirming Bull Market; Fed Decision this week - Market See Pause; TESLA +4.1% Seals Deal with GM on its Super Chargers</li>
<li>JAPAN. NKY Futs flat vs Cash;  Japan Continues to focus on AGMs; Record number Proposals submitted to 90 companies; Buybacks to hit record in 2023 say SMBC Nikko</li>
<li>NUGGET. Kyocera: ISS  recommended AGM vote doomed but there is good news...</li>
</ul>


OVERSEAS. SPX Closed +0.1% on Friday/WoW +0.4% confirming Bull Market; Fed Decision this week - Market See Pause; TESLA +4.1% Seals Deal with GM on its Super Chargers
JAPAN. NKY Futs flat vs Cash;  Japan Continues to focus on AGMs; Record number Proposals submitted to 90 companies; Buybacks to hit record in 2023 say SMBC Nikko
NUGGET. Kyocera: ISS  recommended AGM vote doomed but there is good news...


Ohayo Japan|SPX Up Again; Fed Pause/Hike? NUGGET: Kyocera ISS Recommended Vote Doomed, But...

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

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.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> aims to raise up to US$2.4bn (JPY323bn) via a global offering.</li>
<li>The deal was undoubtedly accelerated by Reuters breaking the news of a possible equity raising on 15th May 2023.</li>
<li>We have covered most aspects of the deal in our previous note, in this note we talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>



Rakuten (4755 JP) aims to raise up to US$2.4bn (JPY323bn) via a global offering.
The deal was undoubtedly accelerated by Reuters breaking the news of a possible equity raising on 15th May 2023.
We have covered most aspects of the deal in our previous note, in this note we talk about the deal dynamics and run the deal through our ECM framework.


Rakuten US$2.4bn Placement - Larger than Rumored, Some Indications of Finality

<ul>
<li>
<a href="https://www.smartkarma.com/entities/rakuten-group-inc" target="_blank" data-smartkarma-citation="entities:31:1" rel="noopener">Rakuten (4755 JP)</a> is considering raising around US$2.2bn (JPY300bn), as per Reuters reports. The company hasn't confirmed or denied the same in its press release.</li>
<li>The company has been listing some of its subsidiaries and monetising investments to raise cash and has recently hinted at a possible equity issuance.</li>
<li>While there is no guarantee that the deal will ever materialize, in this note, we take an early look at the possible deal dynamics.</li>
</ul>



Rakuten (4755 JP) is considering raising around US$2.2bn (JPY300bn), as per Reuters reports. The company hasn't confirmed or denied the same in its press release.
The company has been listing some of its subsidiaries and monetising investments to raise cash and has recently hinted at a possible equity issuance.
While there is no guarantee that the deal will ever materialize, in this note, we take an early look at the possible deal dynamics.


Rakuten Possible US$2.2bn Placement - Will Be a Huge Deal to Digest, but It's Not All Bad

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)

Ohayo Japan|SPX Rebounds on Raft of Good News; NUGGET: KEPCO(9503)-Nuke Restarts, Next Datacenters

US stocks rebound on strong Macro; NKY Futs +0.8% vs Cash; USDJPY 144.1; Speculation grows on MoF Yen intervention; Nintendo Family Office...

Mark Chadwick

Playmates Toys: Mario Bros Movie Surpasses $1.3 Billion in Box Office; TMNT Next?

Mario Bros latest movie has entered top-3 animated box office hits of all time. Will TMNT join the hype? Yesterday the movie was shown and received...

Nicolas Van Broekhoven

Ohayo Japan|SPX Up Again; Fed Pause/Hike? NUGGET: Kyocera ISS Recommended Vote Doomed, But...

SPX Bull mkt continues ahed of US CPI and Fed; NKY Futs flat vs Cash; Japan Continues to focus on AGMs; Record number of Proposals to 90 companies

Mark Chadwick

Rakuten US$2.4bn Placement - Larger than Rumored, Some Indications of Finality

Rakuten (4755 JP) aims to raise up to US$2.4bn (JPY323bn) via a global offering. In this note, we talk about the deal structure and the deal dynamics.

Sumeet Singh

Rakuten Possible US$2.2bn Placement - Will Be a Huge Deal to Digest, but It's Not All Bad

Rakuten (4755 JP) is considering raising around US$2.2bn, as per Reuters reports. The company hasn't confirmed or denied the same in its press...

Sumeet Singh

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