Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Good numbers from Analog Devices pointing to a bottom should help likes of Rohm and Fuji Electric.</li>
<li>SMCI tear continues, will Nidec keep moving up after yesterdays gains?</li>
<li>Sanken Electric +10.45% yesterday finally starting to catch a bid on ALGM gains.</li>
</ul>


Good numbers from Analog Devices pointing to a bottom should help likes of Rohm and Fuji Electric.
SMCI tear continues, will Nidec keep moving up after yesterdays gains?
Sanken Electric +10.45% yesterday finally starting to catch a bid on ALGM gains.


Japan Morning Connection: Power/Analog Names Drive SOX Higher, Defence Down

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Index Rebalance

<ul>
<li>The changes to the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei 225 (NKY INDEX)</a> as part of the March rebalance should be announced in just over 2 weeks. We expect 2-3 changes at the review.</li>
<li>The forecast adds have massively outperformed the forecast deletes and the <a href="https://www.smartkarma.com/entities/nikkei-225" target="_blank" data-smartkarma-citation="entities:22909:1" rel="noopener">Nikkei225 Index</a> over every time period going back 3 months with the largest outperformance in the last month.</li>
<li>Positioning appears to be stretched in one forecast add while there appears to be under positioning in a couple of the forecast deletes.</li>
</ul>


The changes to the Nikkei 225 (NKY INDEX) as part of the March rebalance should be announced in just over 2 weeks. We expect 2-3 changes at the review.
The forecast adds have massively outperformed the forecast deletes and the Nikkei225 Index over every time period going back 3 months with the largest outperformance in the last month.
Positioning appears to be stretched in one forecast add while there appears to be under positioning in a couple of the forecast deletes.


Nikkei 225 Index Rebalance: Performance of Potential Adds/Deletes & Positioning

Equity Derivatives Broker - Delta One Japan, Vantage Capital Markets Japan

François-Xavier Pustoc'h

Equity Derivatives Broker - Delta One Japan

Independent Financial Broker

Vantage Capital Markets Japan

We provide world class financial solutions to our extensive institutional client base including rapidly growing corporations, leading investment banks, commercial banks, asset managers, private equity funds, family offices and hedge funds.

Our services include capital market offerings and placements, wholesale brokerage and execution of cash and derivative products (both listed and OTC) across a range of asset classes.

VCM has offices in London, Hong Kong, Tokyo and Dubai from where we service our global client base. Our strength lies in the experience and quality of our teams, supported by excellent operations and infrastructure.

Event-Driven

<ul><li>Stock performance is confirming the ADD of Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T)</li><li>Stock performance is confirming the DEL of Mitsubishi Logistics (9301.T) and (maybe?) Kanadavia (7004.T)</li><li>Best Rebalance portfolio: the Long Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T) vs. Short Fast Retailing (9983.T) with 34.17% performance over the past two months.</li></ul>

Stock performance is confirming the ADD of Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T)Stock performance is confirming the DEL of Mitsubishi Logistics (9301.T) and (maybe?) Kanadavia (7004.T)Best Rebalance portfolio: the Long Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T) vs. Short Fast Retailing (9983.T) with 34.17% performance over the past two months.

Nikkei 225 Rebalancing: Stock Performance

<ul>
<li>Coherent, SMCI, Entegris all posting solid gains, while Skyworks priced in its poor outlook for its Apple biz.</li>
<li>Monolithic as much as +19% post market setting a better tone for power/analog semi related. Renesas +12.6% yesterday also.</li>
<li>Tokyo Electron numbers mixed but positive overall and any weakness at the open a good chance for dip buying.</li>
</ul>


Coherent, SMCI, Entegris all posting solid gains, while Skyworks priced in its poor outlook for its Apple biz.
Monolithic as much as +19% post market setting a better tone for power/analog semi related. Renesas +12.6% yesterday also.
Tokyo Electron numbers mixed but positive overall and any weakness at the open a good chance for dip buying.


Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

<ul>
<li>Weak tape for tech over mixed signalling out of White House.</li>
<li>Kyocera earnings missed but management seem to be pulling the right levers (finally) on the restructuring front.</li>
<li>Ibiden tarred by the Shinko brush, but what about its NVDA exposure?</li>
</ul>


Weak tape for tech over mixed signalling out of White House.
Kyocera earnings missed but management seem to be pulling the right levers (finally) on the restructuring front.
Ibiden tarred by the Shinko brush, but what about its NVDA exposure?


Japan Morning Connection: Trump Tariff U-Turn Will Help Markets Start Better

Japan

ROHM COMPANY LIMITED manufactures custom linear integrated circuits and semiconductor devices for use primarily in consumer electronics.  The Company has plants and sales offices worldwide.  Rohm's subsidiaries include Wako Electric and Apollo Electronics.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

ROHM Co Ltd (6963 JP)

Japan Morning Connection: Power/Analog Names Drive SOX Higher, Defence Down

Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Andrew Jackson

Nikkei 225 Index Rebalance: Performance of Potential Adds/Deletes & Positioning

The forecast adds have strongly outperformed the forecast deletes over the last month. Positioning appears stretched in 1 add while there is under...

Brian Freitas

Nikkei 225 Rebalancing: Stock Performance

Stock performance is confirming the ADD of Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T) Stock performance is...

Vantage Capital Markets Japan

Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

Skyworks priced in poor outlook for its Apple business. Market sets a better tone for power/anolog semi related. Any weakness in Tokyo Electron a...

Andrew Jackson

Japan Morning Connection: Trump Tariff U-Turn Will Help Markets Start Better

Tech stocks weak over mixed signals from the White House, Kyocera making good restructuring efforts despite earnings miss, Ibiden suffered from...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Power/Analog Names Drive SOX Higher, Defence Down

​Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Andrew Jackson

Nikkei 225 Index Rebalance: Performance of Potential Adds/Deletes & Positioning

The forecast adds have strongly outperformed the forecast deletes over the last month. Positioning appears stretched in 1 add while there is under...

Brian Freitas

Nikkei 225 Rebalancing: Stock Performance

Stock performance is confirming the ADD of Kokusai Electric (6525.T), BayCurrent Consulting (6532.T) and Shift Inc. (3697.T) Stock performance is...

Vantage Capital Markets Japan

Japan Morning Connection: Mixed Read from the US but Direction Pointing Higher

Skyworks priced in poor outlook for its Apple business. Market sets a better tone for power/anolog semi related. Any weakness in Tokyo Electron a...

Andrew Jackson

Japan Morning Connection: Trump Tariff U-Turn Will Help Markets Start Better

​Tech stocks weak over mixed signals from the White House, Kyocera making good restructuring efforts despite earnings miss, Ibiden suffered from...

Andrew Jackson

Analog Devices' positive numbers should help the likes of Rohm and Fuji Electric. SMCI continues to move up. Sanken Electric sees gains following...

Tech stocks weak over mixed signals from the White House, Kyocera making good restructuring efforts despite earnings miss, Ibiden suffered from...