Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. AI Driven Tech Rally Continues; Debt Deal Close(r) as Biden-McCarthy Agree, Vote still to come;More Hikes to Come as Inflation Picks UP; (Another) Massive Boeing order in the works</li>
<li>JAPAN. NKY Futs 1.9% Prem  vs Cash; US Tech(AI) Driven Rally continues;Yen Shorts Accummulate as USDJPY pass 140; Tokyo Inflation Slows;Toyota Loses crown of top selling car to TESLA</li>
<li>NUGGET. Drone Delivery in Japan - within Sight; Japan Post(6178) leading the way aiming for 2023 commercialization. </li>
</ul>


OVERSEAS. AI Driven Tech Rally Continues; Debt Deal Close(r) as Biden-McCarthy Agree, Vote still to come;More Hikes to Come as Inflation Picks UP; (Another) Massive Boeing order in the works
JAPAN. NKY Futs 1.9% Prem  vs Cash; US Tech(AI) Driven Rally continues;Yen Shorts Accummulate as USDJPY pass 140; Tokyo Inflation Slows;Toyota Loses crown of top selling car to TESLA
NUGGET. Drone Delivery in Japan - within Sight; Japan Post(6178) leading the way aiming for 2023 commercialization. 


Ohayo Japan |AI All the Way Tech Continues to Lead Equities UP; NUGGET: JP Drone Delivery-In Sight

Managing Director, Zero One, Zero One

Vincent Fernando, CFA

Managing Director, Zero One

Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR / Equity Bottom-Up

TSMC (Taiwan Semiconductor Manufacturing) - ADR

<ul>
<li>Samsung announced that it would reduce memory chip production in light of crashing profits, this is after the company had previously said it would not reduce production. Memory names rallied.</li>
<li>Hon Hai announced a $820m investment plan for EV manufacturing in southern Taiwan.</li>
<li>Japan's semiconductor manufacturing equipment export restrictions targeting China will take effect starting in July.</li>
</ul>


Samsung announced that it would reduce memory chip production in light of crashing profits, this is after the company had previously said it would not reduce production. Memory names rallied.
Hon Hai announced a $820m investment plan for EV manufacturing in southern Taiwan.
Japan's semiconductor manufacturing equipment export restrictions targeting China will take effect starting in July.


Taiwan Tech Weekly: Samsung Finally Announces Chip Production Cuts; Hon Hai's New EV Factory

<ul>
<li>OVERSEAS. SPX reclaims 4000 level to cose up +1.4%; Nasdaq 100 enters BULL MARKET;  Micron +7% Intel +7.6%  spurs sentiment around Semi recovery. </li>
<li>JAPAN. NKY Futs -0.3% vs Cash; USDJPY ¥132.8;  Dividend x-Date today - expect ~¥1trill of reinvestment BUYING in total; New Toyota CEO vows to get serious about EVs -about time</li>
<li>NUGGET. Incoming CEO Makiko Ono - Set to Further Globalize Suntory Beverage.  If she can execute, stock looks like a bargain. </li>
</ul>


OVERSEAS. SPX reclaims 4000 level to cose up +1.4%; Nasdaq 100 enters BULL MARKET;  Micron +7% Intel +7.6%  spurs sentiment around Semi recovery. 
JAPAN. NKY Futs -0.3% vs Cash; USDJPY ¥132.8;  Dividend x-Date today - expect ~¥1trill of reinvestment BUYING in total; New Toyota CEO vows to get serious about EVs -about time
NUGGET. Incoming CEO Makiko Ono - Set to Further Globalize Suntory Beverage.  If she can execute, stock looks like a bargain. 


Good Morning Japan |NASDAQ BULL MARKET! NUGGET: CEO Makiko Ono-Set to Further Globalize Suntory Bev

<ul>
<li>OVERSEAS.  Choppy Session with SPX closing -0.2%;  Tech down again as reversal continues;  US 2Yr yield back above 4%, Alibaba +14% split to unlock value; Micron after hours-worst over?</li>
<li>JAPAN. NKY Futs -1.0% vs Cash; USDJPY 130.9; US-Japan strikes deal on EV battery materials Under IRA; Japan's FTA fine with MSFT-ATVI, -ve Sony; Alibaba Split +ve Softbank</li>
<li>NUGGET. Panasonic - Potential beneficiary of new IRA related deal with the US. Could see IRA EV tax credit rise from ¥172bn/year to ¥228bn/year.</li>
</ul>


OVERSEAS.  Choppy Session with SPX closing -0.2%;  Tech down again as reversal continues;  US 2Yr yield back above 4%, Alibaba +14% split to unlock value; Micron after hours-worst over?
JAPAN. NKY Futs -1.0% vs Cash; USDJPY 130.9; US-Japan strikes deal on EV battery materials Under IRA; Japan's FTA fine with MSFT-ATVI, -ve Sony; Alibaba Split +ve Softbank
NUGGET. Panasonic - Potential beneficiary of new IRA related deal with the US. Could see IRA EV tax credit rise from ¥172bn/year to ¥228bn/year.


Good Morning Japan |Choppy Equities; Weak Tech; NUGGET: Panasonic-New US Tax Credit Opportunity?

Senior Technology Analyst, Japanese Equities, LightStream Research

Scott Foster

Senior Technology Analyst, Japanese Equities

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>A tour of the Hikone factory last week left us impressed with Screen's efficiency and the timing of its capacity expansion.</li>
<li>The company's semiconductor production equipment sales are likely to decline this year, but outperform the industry as a whole due to low exposure to memory. </li>
<li>Buy for longer-term recovery after the recent advance has been digested.</li>
</ul>


A tour of the Hikone factory last week left us impressed with Screen's efficiency and the timing of its capacity expansion.
The company's semiconductor production equipment sales are likely to decline this year, but outperform the industry as a whole due to low exposure to memory. 
Buy for longer-term recovery after the recent advance has been digested.


Screen Holdings (7735 JP): Positive Impression from Hikone Factory Tour

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.

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

SCREEN Holdings (7735 JP)

Ohayo Japan |AI All the Way Tech Continues to Lead Equities UP; NUGGET: JP Drone Delivery-In Sight

Debt Deal Close; NKY Futs 1.9% Prem vs Cash; Yen Shorts rise as USDJPY pass 140; Tokyo Inflation Slows;Toyota Loses crown of top selling car to...

Mark Chadwick

Taiwan Tech Weekly: Samsung Finally Announces Chip Production Cuts; Hon Hai's New EV Factory

Samsung reversed its production capacity strategy after suffering losses. Also, Japan's semiconductor manufacturing equipment export restrictions...

Vincent Fernando, CFA

Good Morning Japan |NASDAQ BULL MARKET! NUGGET: CEO Makiko Ono-Set to Further Globalize Suntory Bev

In the US, NASDAQ 100 enters bull market. Broad based US rally. In Japan, Tech to lead; Drivers today: US rally, weaker yen; Underweight investors...

Mark Chadwick

Good Morning Japan |Choppy Equities; Weak Tech; NUGGET: Panasonic-New US Tax Credit Opportunity?

US Markets Choppy; Tech down again; Japan set to approve 114trill budget; US-Japan strikes deal on EV battery materials Under IRA; Japan's FTA fine...

Mark Chadwick

Screen Holdings (7735 JP): Positive Impression from Hikone Factory Tour

Factory tour impressive. High gearing to foundry points to outperformance this year; pick-up in non-SPE segments should boost recovery next year....

Scott Foster

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)