Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>Nikkei +4.6%, Topix +2.5% – strongest weekly performance since February and new YTD highs, driven by semiconductors and broad-based tech momentum.</li>
<li>Risk sentiment normalized after initial geopolitical shock from U.S. strikes on Iranian nuclear facilities; focus rotated back to U.S. macro and policy dovishness.</li>
<li>Sector divergence – semiconductors and telcos sharply outperform; Oil &amp; Gas lags amid energy volatility.</li>
</ul>


Nikkei +4.6%, Topix +2.5% – strongest weekly performance since February and new YTD highs, driven by semiconductors and broad-based tech momentum.
Risk sentiment normalized after initial geopolitical shock from U.S. strikes on Iranian nuclear facilities; focus rotated back to U.S. macro and policy dovishness.
Sector divergence – semiconductors and telcos sharply outperform; Oil &amp; Gas lags amid energy volatility.


Japan Weekly | Tech Soars as Geopolitics Risks Ease

Global Healthcare Analyst

Tina Banerjee

<ul>
<li>U.S. has implemented a universal baseline tariff of 10%, effective April 5. Japan faces 24% reciprocal tariff from April 9.</li>
<li>In 2023, Japan exported pharmaceutical products worth $6.34B (~43% of total exports) to the U.S.</li>
<li>Japanese pharma and medical devices companies have significant revenue exposure to the U.S.</li>
</ul>


U.S. has implemented a universal baseline tariff of 10%, effective April 5. Japan faces 24% reciprocal tariff from April 9.
In 2023, Japan exported pharmaceutical products worth $6.34B (~43% of total exports) to the U.S.
Japanese pharma and medical devices companies have significant revenue exposure to the U.S.


US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

<ul>
<li>Shionogi is acquiring Torii Pharmaceutical and pharmaceutical business of Japan Tobacco. Daiichi Sankyo’s Enhertu meets main goal in the neoadjuvant setting (before surgery) in early-stage breast cancer trial.</li>
<li>HK inno.N received approval for the domestic phase 3 clinical trial of obesity drug candidate. Neuren Pharmaceuticals’ Daybue recorded $84.6M revenue in the U.S. in 1Q25, up 11% YoY.</li>
<li>Biocon secured multiple market access agreements for Yesintek, its biosimilar to Stelara. Lupin received FDA approval for antiretroviral agent raltegravir tablets for the treatment of human immunodeficiency virus (HIV-1) infection.</li>
</ul>


Shionogi is acquiring Torii Pharmaceutical and pharmaceutical business of Japan Tobacco. Daiichi Sankyo’s Enhertu meets main goal in the neoadjuvant setting (before surgery) in early-stage breast cancer trial.
HK inno.N received approval for the domestic phase 3 clinical trial of obesity drug candidate. Neuren Pharmaceuticals’ Daybue recorded $84.6M revenue in the U.S. in 1Q25, up 11% YoY.
Biocon secured multiple market access agreements for Yesintek, its biosimilar to Stelara. Lupin received FDA approval for antiretroviral agent raltegravir tablets for the treatment of human immunodeficiency virus (HIV-1) infection.


APAC Healthcare Weekly (May 11)- Shionogi, Daiichi Sankyo, HK Inno, Neuren, Biocon, Aster DM, Lupin

Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

<ul>
<li>Meta on a 20-day winning steak with humanoid robots into the mix.</li>
<li>Yakult's spike on Friday and subsequent drop may point to more upside given big shareholder returns.</li>
<li>Olympus facing a much harsher reality in China than management were initially suggesting.</li>
</ul>


Meta on a 20-day winning steak with humanoid robots into the mix.
Yakult's spike on Friday and subsequent drop may point to more upside given big shareholder returns.
Olympus facing a much harsher reality in China than management were initially suggesting.


Japan Morning Connection: AMAT Pricing in Friday Sets Soft Tone for JP SPE

<ul>
<li>Samsung Biologics secured highest ever contract manufacturing order worth KRW2.07T ($1.4B) from a European pharmaceutical company. The cumulative order volume has now surpassed $17.6B.</li>
<li>FDA has accepted Daiichi Sankyo’s revised filing for Dato-DXd for certain types of non-small cell lung cancer (NSCLC) and Eisai’s BLA for Leqembi subcutaneous autoinjector for weekly maintenance dosing.</li>
<li>Sun Pharma is acquiring Canada-based Antibe Therapeutics, a clinical-stage biotechnological company developing novel drugs primarily focusing on reducing pain and inflammation. Biocon got FDA clearance for insulin facility in Malaysia.</li>
</ul>


Samsung Biologics secured highest ever contract manufacturing order worth KRW2.07T ($1.4B) from a European pharmaceutical company. The cumulative order volume has now surpassed $17.6B.
FDA has accepted Daiichi Sankyo’s revised filing for Dato-DXd for certain types of non-small cell lung cancer (NSCLC) and Eisai’s BLA for Leqembi subcutaneous autoinjector for weekly maintenance dosing.
Sun Pharma is acquiring Canada-based Antibe Therapeutics, a clinical-stage biotechnological company developing novel drugs primarily focusing on reducing pain and inflammation. Biocon got FDA clearance for insulin facility in Malaysia.


APAC Healthcare Weekly (Jan 19)- Samsung Biologics, Daiichi Sankyo, Eisai, Sun Pharma, Biocon

Japan

OLYMPUS CORPORATION manufactures optoelectronic products. The Company's products include cameras, video sets, endoscopes for medicine and industrial use, microscopes, analytical equipment, office communication systems, and laseroptical scanners.

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Olympus (7733 JT)

Japan Weekly | Tech Soars as Geopolitics Risks Ease

Japanese stock market saw strong gains this week, led by semiconductors and tech, as risk sentiment normalized post-geopolitical tensions.

Mark Chadwick

US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

Trump is expected to sign an executive order to lower prescription drug prices. The question about the feasibility of implementation of Trump’s...

Tina Banerjee

APAC Healthcare Weekly (May 11)- Shionogi, Daiichi Sankyo, HK Inno, Neuren, Biocon, Aster DM, Lupin

Shionogi is acquiring Torii Pharma. Daiichi Sankyo’s Enhertu meets key goal in breast cancer trial. HK inno got domestic approval for P3 trial of...

Tina Banerjee

Japan Morning Connection: AMAT Pricing in Friday Sets Soft Tone for JP SPE

Meta continues winning streak with announcment of AI humanoid robots, Yakult's might have room for upside, and Olympus faces a harsher reality in...

Andrew Jackson

APAC Healthcare Weekly (Jan 19)- Samsung Biologics, Daiichi Sankyo, Eisai, Sun Pharma, Biocon

APAC healthcare companies got approvals for new products as well as clinical trials. The companies continued with acquisitions and collaborations...

Tina Banerjee

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Weekly | Tech Soars as Geopolitics Risks Ease

​Japanese stock market saw strong gains this week, led by semiconductors and tech, as risk sentiment normalized post-geopolitical tensions.

Mark Chadwick

US Tariff Impact on APAC Healthcare: Focus Country- JAPAN

Trump is expected to sign an executive order to lower prescription drug prices. The question about the feasibility of implementation of Trump’s...

Tina Banerjee

APAC Healthcare Weekly (May 11)- Shionogi, Daiichi Sankyo, HK Inno, Neuren, Biocon, Aster DM, Lupin

Shionogi is acquiring Torii Pharma. Daiichi Sankyo’s Enhertu meets key goal in breast cancer trial. HK inno got domestic approval for P3 trial of...

Tina Banerjee

Japan Morning Connection: AMAT Pricing in Friday Sets Soft Tone for JP SPE

​Meta continues winning streak with announcment of AI humanoid robots, Yakult's might have room for upside, and Olympus faces a harsher reality in...

Andrew Jackson

APAC Healthcare Weekly (Jan 19)- Samsung Biologics, Daiichi Sankyo, Eisai, Sun Pharma, Biocon

APAC healthcare companies got approvals for new products as well as clinical trials. The companies continued with acquisitions and collaborations...

Tina Banerjee

Japanese stock market saw strong gains this week, led by semiconductors and tech, as risk sentiment normalized post-geopolitical tensions.

Meta continues winning streak with announcment of AI humanoid robots, Yakult's might have room for upside, and Olympus faces a harsher reality in...