Asia Pac ECM and Index Rebal, Shenton Research

Ke Yan, CFA, FRM

Asia Pac ECM and Index Rebal

Asia Pac IPO & Placement Research, China Biotech

Shenton Research

Shenton Research is an independent Asia Pacific equity specialist. Our quantitative research covers index rebalancing flows, alongside exchange data analytics accross Asia Pacific. On the equity capital markets side, we focus on Asia Pacific ECM, especially biotech and TMT. Our lead analyst is frequently cited by international media.

Quantitative Analysis

<ul>
<li>We analysed the earning revision of component stocks of MS-Japan in the past month.</li>
<li>We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.</li>
<li>We highlighted EPS revision on Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Kawasaki Kisen Kaisha, Panasonic, JFE.</li>
</ul>


We analysed the earning revision of component stocks of MS-Japan in the past month.
We tabulated stocks with the top impact on index's EPS, stocks' EPS revision, and revenue revision.
We highlighted EPS revision on Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Kawasaki Kisen Kaisha, Panasonic, JFE.


MS-Japan Index Earning Revision (Aug): Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Panasonic

Blue Lotus China New Economy Research, Blue Lotus Research Institute

Eric Wen

Blue Lotus China New Economy Research

China growth and global non-US Internet equities

Blue Lotus Research Institute

Blue Lotus Research is a Hong Kong Type 4 Licensed investment advisory firm focusing on Chinese growth equities and global non-US Internet equities

Thematic (Sector/Industry)

<ul>
<li>One year after June 30, 2023, only 18% more of total battery capacities were added in US, below EU's 26% more added over the same period;</li>
<li>Chinese companies have largely shunned away from US investments, contributing only 8.7% of total. Most Chinese investments are in the mineral, instead of cell and package segments;</li>
<li>Envision/AESC alone contributed 2/3 of Chinese investments in US and is the only Chinese company investing in the cell segment.None invests in the package segment.</li>
</ul>


One year after June 30, 2023, only 18% more of total battery capacities were added in US, below EU's 26% more added over the same period;
Chinese companies have largely shunned away from US investments, contributing only 8.7% of total. Most Chinese investments are in the mineral, instead of cell and package segments;
Envision/AESC alone contributed 2/3 of Chinese investments in US and is the only Chinese company investing in the cell segment.None invests in the package segment.


US Battery and Solar Investments, One Year After, Part I

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).</li>
<li>I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.</li>
<li>The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. </li>
</ul>


On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET).
I believe this will have a negative impact on SK Innovation and a neutral impact on SK IET.
The biggest concern is the fact that SK IET has been generating continued net losses in the past several years and this could negatively impact SK Innovations' financial structure. 


SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

Japan Specialist

Mark Chadwick

<ul>
<li>
Overseas: SPX -1.5%; Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains. FedEx's disappointing outlook contributed to the index’s worst day since September.</li>
<li>
Today: NKY Futs -1.9% v cash. JPY143; Yamaha Motors faces slowdown in US; Toyota recall; Chugoku to sell excess Uranium</li>
<li>
Japan: Panasonic walked away from Oklahoma's $698M battery offer, sparking concerns over megaproject subsidies and corporate gamesmanship.</li>
</ul>



Overseas: SPX -1.5%; Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains. FedEx's disappointing outlook contributed to the index’s worst day since September.

Today: NKY Futs -1.9% v cash. JPY143; Yamaha Motors faces slowdown in US; Toyota recall; Chugoku to sell excess Uranium

Japan: Panasonic walked away from Oklahoma's $698M battery offer, sparking concerns over megaproject subsidies and corporate gamesmanship.


Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

<ul>
<li>Market Watch: Topix ended the week unchanged. The yen was the bigger story after strengthening to Y147/$. Forex likely to dominate next week</li>
<li>Major Movers: CyberAgent was boosted by the release of a new #1 smartphone game; Panasonic gains after announcing potential restructuring of group assets</li>
<li>Activist Watch: Dalton’s Nippon Active Value fund has found a deep value, small-cap pharma company. Rheos Capital takes a significant stake in a fast-growing M&amp;A advisor</li>
</ul>


Market Watch: Topix ended the week unchanged. The yen was the bigger story after strengthening to Y147/$. Forex likely to dominate next week
Major Movers: CyberAgent was boosted by the release of a new #1 smartphone game; Panasonic gains after announcing potential restructuring of group assets
Activist Watch: Dalton’s Nippon Active Value fund has found a deep value, small-cap pharma company. Rheos Capital takes a significant stake in a fast-growing M&amp;A advisor


Japan Weekly | All About Yen; Panasonic, Cyberagent

Japan

Panasonic Corporation manufactures electric and electronic products. The Company produces home appliances, car navigation systems, digital devices, computer peripherals, telecommunications, industrial equipment, and electronic parts. Panasonic has associated companies around the world.

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Panasonic Corp (6752 JP)

MS-Japan Index Earning Revision (Aug): Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Panasonic

We analyzed MS-Japan's consensus for Aug 2026 and highlighted changes of EPS in Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Kawasaki Kisen...

Ke Yan, CFA, FRM

US Battery and Solar Investments, One Year After, Part I

We view the US having a vigorous and healthy battery reshoring initiative. contributed by battery's relatively flat supply chain and the technology...

Blue Lotus Research Institute

SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET). I believe this will have a negative impact...

Douglas Kim

Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Mark Chadwick

Japan Weekly | All About Yen; Panasonic, Cyberagent

Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

MS-Japan Index Earning Revision (Aug): Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Panasonic

We analyzed MS-Japan's consensus for Aug 2026 and highlighted changes of EPS in Yamaha Motor, Orix, Advantest, Kioxia, Rakuten, Kawasaki Kisen...

Ke Yan, CFA, FRM

US Battery and Solar Investments, One Year After, Part I

We view the US having a vigorous and healthy battery reshoring initiative. contributed by battery's relatively flat supply chain and the technology...

Blue Lotus Research Institute

SK Innovation Announces a Merger With SK IET (Before New Regulation Kicks In)

On 25 August, SK Innovation (096770 KS) announced a merger with SK IE Technology (361610 KS) (SK IET). I believe this will have a negative impact...

Douglas Kim

Ohayo Japan | Market Retreat Intensifies; Panasonic Plays the States

​Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Mark Chadwick

Japan Weekly | All About Yen; Panasonic, Cyberagent

​Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...

Mark Chadwick

Stocks tumbled as investors locked in profits, ending the Dow and Nasdaq's nine-day gains, with FedEx's disappointing outlook contributing to the...

Market Watch: Topix unchanged, yen strengthens. CyberAgent boosted by new smartphone game, Panasonic gains on potential restructuring. Activist...