Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Risk-On names leading gainers in tech, while consumer disc weak after poor airlines and retailer guidance.</li>
<li>More outlets reporting on NAND hikes are on the way...look for upside for Kioxia and Kokusai Electric.</li>
<li>Puma -10.7% and a weak consumer outlook enough to take the shine off Asics?</li>
</ul>


Risk-On names leading gainers in tech, while consumer disc weak after poor airlines and retailer guidance.
More outlets reporting on NAND hikes are on the way...look for upside for Kioxia and Kokusai Electric.
Puma -10.7% and a weak consumer outlook enough to take the shine off Asics?


Japan Morning Connection: US Respite and UKR News Should Be Enough for JP Upside

<ul>
<li>TSMC higher on news from the day before it is investing heavily in US fab capacity.</li>
<li>Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.</li>
<li>All eyes on Trumps speech to congress this morning, although markets should be firm off the open.</li>
</ul>


TSMC higher on news from the day before it is investing heavily in US fab capacity.
Continental AG -11.6% after earnings miss sets a poor tone for JP tire makers Bridgestone, Toyo, Yokohama and Sumitomo.
All eyes on Trumps speech to congress this morning, although markets should be firm off the open.


Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

<ul>
<li>NVDA, SMCI and Dell investigated by Singaporean authorities over chip leaks into China.</li>
<li>Allegro +15% in the US following on from Sanken limit-up yesterday as ON circles.</li>
<li>IHI, MHI, KHI, NEC all higher yesterday but should follow EU defense peers much higher.</li>
</ul>


NVDA, SMCI and Dell investigated by Singaporean authorities over chip leaks into China.
Allegro +15% in the US following on from Sanken limit-up yesterday as ON circles.
IHI, MHI, KHI, NEC all higher yesterday but should follow EU defense peers much higher.


Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

<ul>
<li>Wild ride for Kokusai Electric yesterday on US/China announcement, although the squeeze should continue.</li>
<li>SMCI +25% in after market trading enough to finally get Nidec up?</li>
<li>Yields down, Homebuilders up, but Tesla hammered after Musk's clumsy foray into EU/UK politics.</li>
</ul>


Wild ride for Kokusai Electric yesterday on US/China announcement, although the squeeze should continue.
SMCI +25% in after market trading enough to finally get Nidec up?
Yields down, Homebuilders up, but Tesla hammered after Musk's clumsy foray into EU/UK politics.


Japan Morning Connection: Tech Rout Deepens, but JP May Be Largely Priced In

Japan Specialist

Mark Chadwick

<ul>
<li>Furukawa's stock surged after announcing shareholder-friendly measures, including asset sales, a buyback, and a dividend hike; activist City Index takes some profits.</li>
<li>The Japanese market faced a volatile week, ultimately closing lower, with the Nikkei declining by 1% - a mix of strong macro data, tariffs, and yen moves</li>
<li>Daifuku surged 25% on strong earnings, cost savings, and a robust FY25 order outlook, reinforcing confidence in long-term growth.</li>
</ul>


Furukawa's stock surged after announcing shareholder-friendly measures, including asset sales, a buyback, and a dividend hike; activist City Index takes some profits.
The Japanese market faced a volatile week, ultimately closing lower, with the Nikkei declining by 1% - a mix of strong macro data, tariffs, and yen moves
Daifuku surged 25% on strong earnings, cost savings, and a robust FY25 order outlook, reinforcing confidence in long-term growth.


Japan Strategy Weekly | City Index Cashes in on Furukawa

Japan

SCREEN Holdings Co Ltd.  manufactures and sell semiconductors, FPD devices, commercial printing and printed circuit boards(PCB). The company also provides additional services for its products.

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52-week Range	0.00 - 0.00
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SCREEN Holdings (7735 JP)

Japan Morning Connection: US Respite and UKR News Should Be Enough for JP Upside

Consumer discretionary struggling due to poor guidance from airlines and retailers. NAND price hikes expected to benefit Kioxia and Kokusai Electric.

Andrew Jackson

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

Andrew Jackson

Japan Morning Connection: Tech Rout Deepens, but JP May Be Largely Priced In

Kokusai Electric squeeze looks to continue. Will SMCI +25% finally help lift Nidec? Tesla suffers from Musk's involvement in EU politics.

Andrew Jackson

Japan Strategy Weekly | City Index Cashes in on Furukawa

Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: US Respite and UKR News Should Be Enough for JP Upside

Consumer discretionary struggling due to poor guidance from airlines and retailers. NAND price hikes expected to benefit Kioxia and Kokusai Electric.

Andrew Jackson

Japan Morning Connection: Volatile Session but Pointing Higher on Potential for a Tariff Flip-Flop

​TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Andrew Jackson

Japan Morning Connection: Japan Tech to Follow the US Lower, but Defense Should Have Further to Run

​Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

Andrew Jackson

Japan Morning Connection: Tech Rout Deepens, but JP May Be Largely Priced In

Kokusai Electric squeeze looks to continue. Will SMCI +25% finally help lift Nidec? Tesla suffers from Musk's involvement in EU politics.

Andrew Jackson

Japan Strategy Weekly | City Index Cashes in on Furukawa

​Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.

Mark Chadwick

TSMC rises on news of investment in US fab capacity, Continental AG drops after earnings miss sets poor tone for JP tire makers.

Singaporean authorities investigate NVDA, SMCI, and Dell for chip leaks to China. Allegro takeover disscussion leading to Sanken limit-up. JP...

Furukawa's shareholder-friendly measures boost stock, Japanese market faces volatility, Daifuku surges on strong earnings and outlook.