Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Fed Lifts rates +25bps as expected; No longer sees recession emerging; Equities - Mixed as Industrials Rally, Tech Sells off; Meta Beats on Rev/EPS; Boeing Surges on Outloook</li>
<li>JAPAN. Nikkei Futures -0.4% vs Cash; USDJPY 140.4; Fed Move Done, but for BOJ - Potential for a Surprise Move ? Advantest Miss-back to reality ?  Earnings in Full Swing. </li>
<li>NUGGET. Japanese Executives Not Properly Incentivized; Shareholders need to take a different tact in addressing corporate performance. </li>
</ul>


OVERSEAS. Fed Lifts rates +25bps as expected; No longer sees recession emerging; Equities - Mixed as Industrials Rally, Tech Sells off; Meta Beats on Rev/EPS; Boeing Surges on Outloook
JAPAN. Nikkei Futures -0.4% vs Cash; USDJPY 140.4; Fed Move Done, but for BOJ - Potential for a Surprise Move ? Advantest Miss-back to reality ?  Earnings in Full Swing. 
NUGGET. Japanese Executives Not Properly Incentivized; Shareholders need to take a different tact in addressing corporate performance. 


Ohayo Japan| Fed Watch: Now for Hawkish Hold; Advantest Miss; NUGGET: JP Executives Not Incentivized

<ul>
<li>OVERSEAS.  SPX eaks out gains as markets continue to bid inflation moderation/soft landing narrative; GS Reports the futures is better; TELSA earnings beat despite aggressive price cuts </li>
<li>JAPAN. Nikkei Futures flat vs Cash; USDJPY 139.7; Inbound Tourist back in full force; Daily Goods Manufacturers form logistics alliance to combat lack of drivers; Nidec, Disco reports today</li>
<li>NUGGET. JP Office Equipment Makers - could be investment opportunities if they are proactive consolidation. Falling demand and overcapacity demands aggressive industry restructuring.</li>
</ul>


OVERSEAS.  SPX eaks out gains as markets continue to bid inflation moderation/soft landing narrative; GS Reports the futures is better; TELSA earnings beat despite aggressive price cuts 
JAPAN. Nikkei Futures flat vs Cash; USDJPY 139.7; Inbound Tourist back in full force; Daily Goods Manufacturers form logistics alliance to combat lack of drivers; Nidec, Disco reports today
NUGGET. JP Office Equipment Makers - could be investment opportunities if they are proactive consolidation. Falling demand and overcapacity demands aggressive industry restructuring.


Ohayo Japan |Inflation Moderation Drives Stocks; NUGGET:JP Office Equip Makers- Consolidation a Must

<ul>
<li>OVERSEAS. SPX rises as investors see end of Fed rate hike cycle; Investors continue to doubt the US bull market; China steps in again to support Real Estate market </li>
<li>JAPAN. NKY Futs +0.4% vs Cash; USJPY 141.3; "New" NISA eligible funds expand;  JP investors buy record foreign bonds in H1;  ON THE STREET:Mit Motors to BUY; Toyota to Neutral</li>
<li>NUGGET. Push for more women on boards continue in Japan - still lagging, but trend is up. Will it play out in valuations? Global Evidence Supportive.</li>
</ul>


OVERSEAS. SPX rises as investors see end of Fed rate hike cycle; Investors continue to doubt the US bull market; China steps in again to support Real Estate market 
JAPAN. NKY Futs +0.4% vs Cash; USJPY 141.3; "New" NISA eligible funds expand;  JP investors buy record foreign bonds in H1;  ON THE STREET:Mit Motors to BUY; Toyota to Neutral
NUGGET. Push for more women on boards continue in Japan - still lagging, but trend is up. Will it play out in valuations? Global Evidence Supportive.


Ohayo Japan| Fed Rate Hike End in Sight; NUGGET: More Women on Boards = Higher Valuations?

<ul>
<li>OVERSEAS. SPX Flat as Chips stocks sell off on potential new China restrictions;  Fed Chair Powell keeps hawkish stance saying more hikes on the horizon; Micron calling bottom on Memory. </li>
<li>JAPAN. NKY Futs +0.1% vs Cash; USDJPY 144.4; Japan FX Tsar concerned saying govt will  respond "appropriately" on excessive weakness; Final Fantasy 16 off to a solid start</li>
<li>NUGGET. Katitas - specialist in remodelling vacant homes. 40% YTD underpeformance vs TPX. Govt stepping up support of vacant home sector - supportive of Katitas's business.</li>
</ul>


OVERSEAS. SPX Flat as Chips stocks sell off on potential new China restrictions;  Fed Chair Powell keeps hawkish stance saying more hikes on the horizon; Micron calling bottom on Memory. 
JAPAN. NKY Futs +0.1% vs Cash; USDJPY 144.4; Japan FX Tsar concerned saying govt will  respond "appropriately" on excessive weakness; Final Fantasy 16 off to a solid start
NUGGET. Katitas - specialist in remodelling vacant homes. 40% YTD underpeformance vs TPX. Govt stepping up support of vacant home sector - supportive of Katitas's business.


Ohayo Japan|Chips Sell Off; Micron Calls Memory Bottom; NUGGET: Katitas(8919)-Future Looks Bright

<ul>
<li>OVERSEAS. SPX ,-0.6% overnight, manages +0.3% for May; Debt Ceiling Passage on Track; 2 Fed Officials express dovish view; Weak China Factory PMI puts a Damper on Sentiment</li>
<li>JAPAN. NKY Futs -0.4% vs Cash; JP Equities Best Globally in May; USDJPY strenghtens after intervention warning; Bullish Daikin MTP growth plan; JP Autos rank worst in BEV transition ranking </li>
<li>NUGGET. Revisiting our thesis on Seiko Epson in light of HP Inc(HPQ) 2Q earnings and IDC April report on PCs</li>
</ul>


OVERSEAS. SPX ,-0.6% overnight, manages +0.3% for May; Debt Ceiling Passage on Track; 2 Fed Officials express dovish view; Weak China Factory PMI puts a Damper on Sentiment
JAPAN. NKY Futs -0.4% vs Cash; JP Equities Best Globally in May; USDJPY strenghtens after intervention warning; Bullish Daikin MTP growth plan; JP Autos rank worst in BEV transition ranking 
NUGGET. Revisiting our thesis on Seiko Epson in light of HP Inc(HPQ) 2Q earnings and IDC April report on PCs


Ohayo Japan |SPX Sells off on AI Rally Pause to Close May +0.3%;NUGGET: Seiko Epson-Headwinds Abound

Japan

NISSAN MOTOR CO., LTD. manufactures and distributes automobiles and related parts. It also provides financing services. Nissan delivers a comprehensive range of products under various brands. The company manufactures in Japan, the United States, Mexico, the United Kingdom and many other countries.

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Nissan Motor (ADR) (NSANY US)

Ohayo Japan| Fed Watch: Now for Hawkish Hold; Advantest Miss; NUGGET: JP Executives Not Incentivized

Now for a Hawkish Hold from the Fed; Nikkei Futures -0.4% vs Cash; USDJPY 140.4; Fed Move Down, but for BOJ - Potential for a Surprise Move ?...

Mark Chadwick

Ohayo Japan |Inflation Moderation Drives Stocks; NUGGET:JP Office Equip Makers- Consolidation a Must

US Markets continue bullish bid; Nikkei Futures flat vs Cash; USDJPY 139.7; Inbound Tourist back in full force; Daily Goods Manufacturers form...

Mark Chadwick

Ohayo Japan| Fed Rate Hike End in Sight; NUGGET: More Women on Boards = Higher Valuations?

SPX gains as end of Fed hike cycle in sight; NKY Futs +0.4% vs Cash; USJPY 141.3; "New" NISA eligible funds expand; JP investors buy record...

Mark Chadwick

Ohayo Japan|Chips Sell Off; Micron Calls Memory Bottom; NUGGET: Katitas(8919)-Future Looks Bright

SPX Flat; Chip stocks sell off; NKY Futs +0.1% vs Cash; USDJPY 144.4; Japan FX Tsar concerned saying govt will respond "appropriately" on...

Mark Chadwick

Ohayo Japan |SPX Sells off on AI Rally Pause to Close May +0.3%;NUGGET: Seiko Epson-Headwinds Abound

Debt deal in sight. NKY Futs -0.4% vs Cash; JP Equities Best Globally in May; USDJPY strenghtens after intervention warning; Bullish Daikin MTP...

Mark Chadwick

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