Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Tech and Semi's rebounding sharply which should see related names in JP trade better after yesterdays persistent weakness.</li>
<li>Da Vinci procedures seeing strong growth...will Sysmex's Hinotori also fly? </li>
<li>Tourist numbers surging in JP should see YTD losers back in the spotlight.</li>
</ul>


Tech and Semi's rebounding sharply which should see related names in JP trade better after yesterdays persistent weakness.
Da Vinci procedures seeing strong growth...will Sysmex's Hinotori also fly? 
Tourist numbers surging in JP should see YTD losers back in the spotlight.


Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

Director, Head of Research, Smartkarma

Pranav Rao

Director, Head of Research

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Bottom-Up

Sumitomo Mitsui Trust Holdings / Equity Bottom-Up

<ul>
<li>Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,200+ insights shared on Smartkarma.</li>
<li>In this cut, we survey the consumer staples sector at historic positioning lows, follow the rotation into (Asian) financials, and assess the sometimes mixed track record of spin-offs. </li>
<li>Want to dig deeper? Comment or message with the themes you'd like to see highlighted next.</li>
</ul>


Welcome to Curator’s Cut - a fortnightly roundup of standout themes from the 1,200+ insights shared on Smartkarma.
In this cut, we survey the consumer staples sector at historic positioning lows, follow the rotation into (Asian) financials, and assess the sometimes mixed track record of spin-offs. 
Want to dig deeper? Comment or message with the themes you'd like to see highlighted next.


Curator's Cut: Few Want Consumer Staples, Many Want Financials, & Spin-Off Lessons

Expert on Japan Retail and Consumer Markets, JapanConsuming

Michael Causton

Expert on Japan Retail and Consumer Markets

Real Insight on Japanese Consumer Markets

JapanConsuming

JapanConsuming is a specialist research firm producing intelligence on Japanese retail and consumer markets. Founded in 2000, JapanConsuming has become the leading provider of insights on Japanese retailers and consumer trends to retailers, brands, government agencies and investors. As well as a highly regarded monthly report on the market, JapanConsuming produces in-depth reports on retail sectors, seminars on key trends and telephone consulting to investors on trends and retailers.

JapanConsuming was founded by Michael Causton and Roy Larke. 

<ul>
<li>The shakeout in clothing and fashion retailing continues, with most of the good fortune spread amongst a smaller group of either very large or very small retail chains and brands. </li>
<li>In specialty, lower cost national chains largely located in the suburbs continued to increase share but premium fashion retailers also had a great year boosting profits.</li>
<li>More dramatic was the startling growth of a few department stores which helped the format increase share of the apparel market for only the 4th time in 20 years.</li>
</ul>


The shakeout in clothing and fashion retailing continues, with most of the good fortune spread amongst a smaller group of either very large or very small retail chains and brands. 
In specialty, lower cost national chains largely located in the suburbs continued to increase share but premium fashion retailers also had a great year boosting profits.
More dramatic was the startling growth of a few department stores which helped the format increase share of the apparel market for only the 4th time in 20 years.


Japan Fashion Retailing: Stores Still Popular and Profit Soars for Some

<ul>
<li>Japan to follow US higher on the much better-than-expected jobs report and the yen back to 148.9</li>
<li>Exporters including the Autos with high US exposures as well as Inbound related laggards such as Isetan Mitsukoshi and Shiseido/Kose should see sentiment improve</li>
<li>The strong US data should also help the JP Shippers rebound after dropping -8.2% on Fri on the end of the US port workers strike</li>
</ul>


Japan to follow US higher on the much better-than-expected jobs report and the yen back to 148.9
Exporters including the Autos with high US exposures as well as Inbound related laggards such as Isetan Mitsukoshi and Shiseido/Kose should see sentiment improve
The strong US data should also help the JP Shippers rebound after dropping -8.2% on Fri on the end of the US port workers strike


Japan Morning Connection: Expect Rebound After Strong US Job Data

<ul>
<li>Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.</li>
<li>Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.</li>
<li>Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.</li>
</ul>


Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.
Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.
Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.


Japan Morning Connection: Exporters to Jump on the Weak Yen

Japan

Pan Pacific International Holdings Corporation operates discount stores which sell consumer electronics, daily necessities, groceries, watches, and sporting goods. The Company mostly operates small scale stores based in Tokyo.

Pan Pacific International Holdings (7532 JP)

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Pan Pacific International Holdings (7532 JP)

Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...

Andrew Jackson

Curator's Cut: Few Want Consumer Staples, Many Want Financials, & Spin-Off Lessons

In this Curator's Cut, we examine poor positioning in Consumer Staples, the (continued) rotation into (Asian) Financials and mixed views on spin...

Pranav Rao

Japan Fashion Retailing: Stores Still Popular and Profit Soars for Some

A major review of Japanese clothing retail markets: the ongoing shakeout benefits large and small chains, but profit growth across the sector is...

Michael Causton

Japan Morning Connection: Expect Rebound After Strong US Job Data

Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: CPI to the Rescue for Risk-On Growth Style Plays

​Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...

Andrew Jackson

Curator's Cut: Few Want Consumer Staples, Many Want Financials, & Spin-Off Lessons

In this Curator's Cut, we examine poor positioning in Consumer Staples, the (continued) rotation into (Asian) Financials and mixed views on spin...

Pranav Rao

Japan Fashion Retailing: Stores Still Popular and Profit Soars for Some

A major review of Japanese clothing retail markets: ​the ongoing shakeout benefits large and small chains, but profit growth across the sector is...

Michael Causton

Japan Morning Connection: Expect Rebound After Strong US Job Data

​Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

​PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Tech and Semi's rebounding should be positive for related JP names. Da Vinci procedures show strong numbers - what of Hinotori? JP tourist numbers...

A major review of Japanese clothing retail markets: the ongoing shakeout benefits large and small chains, but profit growth across the sector is...

Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...