Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Equity Bottom-Up

Kawasaki Heavy Industries / Equity Bottom-Up

<ul>
<li>Expect continued buying in defense related, as well as banks and life insurance, renewable energy, rails, and medical IT plays with Shigeru Ishiba at the helm. </li>
<li>The Market will be quick to rotate out of names which spiked into Friday's close on expectation for a Sanae Takaichi win in the LDP election.  </li>
<li>Ishiba has been a vocal critic of Abenomics, and his potential policies aimed at higher taxes for investment incomes and capital gains are set to weigh on the Japanese market. </li>
</ul>


Expect continued buying in defense related, as well as banks and life insurance, renewable energy, rails, and medical IT plays with Shigeru Ishiba at the helm. 
The Market will be quick to rotate out of names which spiked into Friday's close on expectation for a Sanae Takaichi win in the LDP election.  
Ishiba has been a vocal critic of Abenomics, and his potential policies aimed at higher taxes for investment incomes and capital gains are set to weigh on the Japanese market. 


Best Outright and Pair Trades for an Ishiba-Led LDP

Thematic (Sector/Industry)

<ul>
<li>Global renewable continue to outperform, although this is yet to be seen in Japan related names.</li>
<li>Very little read from the US with the market firmly in wait-and-see mode ahead of the Fed.</li>
<li>Kose sell-side meeting yesterday points to plans for global growth despite few specifics released for its new MTP set to be released in October.</li>
</ul>


Global renewable continue to outperform, although this is yet to be seen in Japan related names.
Very little read from the US with the market firmly in wait-and-see mode ahead of the Fed.
Kose sell-side meeting yesterday points to plans for global growth despite few specifics released for its new MTP set to be released in October.


Japan Morning Connection: Kose Aims for Global Growth

<ul>
<li>SMCI -33% after federal prosecutors accused officials of smuggling Nvidia chips into China. Bad for Nidec Corp (6594 JP) who makes server cooling modules for SMCI.</li>
<li>Chiyoda looks interesting on Qatar LNG reconstruction given its direct tie-up with Technip once conflict stabilises.</li>
<li>Sumi Forestry looking increasingly ill-timed on its Tri Pointe acquisition as US homebuilder rates hit highest since mid-2026.</li>
</ul>


SMCI -33% after federal prosecutors accused officials of smuggling Nvidia chips into China. Bad for Nidec Corp (6594 JP) who makes server cooling modules for SMCI.
Chiyoda looks interesting on Qatar LNG reconstruction given its direct tie-up with Technip once conflict stabilises.
Sumi Forestry looking increasingly ill-timed on its Tri Pointe acquisition as US homebuilder rates hit highest since mid-2026.


Japan Morning Connection: SMCI's Chip Smuggling Scandal Drags Server and Memory Down

<ul>
<li>KKR to sell a further 12.9% stake of Kokusai Elec, which sets the stage for big upside once dust settles.</li>
<li>Home builders surging with mortgage applications at the highest levels since early 2023.</li>
<li>Renewables up with AES and Bloom Energy posting big gains and JP names recently outperforming.</li>
</ul>


KKR to sell a further 12.9% stake of Kokusai Elec, which sets the stage for big upside once dust settles.
Home builders surging with mortgage applications at the highest levels since early 2023.
Renewables up with AES and Bloom Energy posting big gains and JP names recently outperforming.


Japan Morning Connection: Japan Set to Start Higher as Markets Look past Tariff Confusions

<ul>
<li>Watch for upside in names involved in HAMR drives such as TDK after positive comments from Seagate.</li>
<li>Rohm finally starting to get bucketed as an AI name could see significant upside after deep correction.</li>
<li>Quantum names continuing to surge with huge moves in IonQ and D-Wave sets positive tone for Socionext still.</li>
</ul>


Watch for upside in names involved in HAMR drives such as TDK after positive comments from Seagate.
Rohm finally starting to get bucketed as an AI name could see significant upside after deep correction.
Quantum names continuing to surge with huge moves in IonQ and D-Wave sets positive tone for Socionext still.


Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

Japan

RENOVA, Inc. is mainly engaged in operating and managing solar power, biomass power, wind power (onshore and offshore), and geothermal power generations.

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RENOVA Inc (9519 JP)

Best Outright and Pair Trades for an Ishiba-Led LDP

How to position in Japanese equities after the surprise win by Shigeru Ishiba over Sanae Takaichi in Friday's LDP election.

Andrew Jackson

Japan Morning Connection: Kose Aims for Global Growth

Global renewable sector continues to outperform, but Japan is lagging behind. US market is cautious ahead of the Fed meeting. Kose plans for...

Andrew Jackson

Japan Morning Connection: SMCI's Chip Smuggling Scandal Drags Server and Memory Down

SMCI Nvidia chip smuggling charges hit server and memory names. Japan's SPE names likely muted at open after missing Thursday's US rebound during...

Andrew Jackson

Japan Morning Connection: Japan Set to Start Higher as Markets Look past Tariff Confusions

US homebuilders surging after positive data last week on home mortgage applications. Watch the JP renewables after the better than expected outcome...

Andrew Jackson

Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

Rebound for Wolfspeed despite no news on avoiding bankruptcy. Quantum names like IonQ and D-Wave surging, setting positive tone for Socionext....

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Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Best Outright and Pair Trades for an Ishiba-Led LDP

How to position in Japanese equities after the surprise win by Shigeru Ishiba over Sanae Takaichi in Friday's LDP election.

Andrew Jackson

Japan Morning Connection: Kose Aims for Global Growth

​Global renewable sector continues to outperform, but Japan is lagging behind. US market is cautious ahead of the Fed meeting. Kose plans for...

Andrew Jackson

Japan Morning Connection: SMCI's Chip Smuggling Scandal Drags Server and Memory Down

SMCI Nvidia chip smuggling charges hit server and memory names. Japan's SPE names likely muted at open after missing Thursday's US rebound during...

Andrew Jackson

Japan Morning Connection: Japan Set to Start Higher as Markets Look past Tariff Confusions

US homebuilders surging after positive data last week on home mortgage applications. Watch the JP renewables after the better than expected outcome...

Andrew Jackson

Japan Morning Connection: Power/Analog Names Lower, but Seagate IR Day a Big Success

Rebound for Wolfspeed despite no news on avoiding bankruptcy. Quantum names like IonQ and D-Wave surging, setting positive tone for Socionext....

Andrew Jackson

Global renewable sector continues to outperform, but Japan is lagging behind. US market is cautious ahead of the Fed meeting. Kose plans for...