Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.</li>
<li>Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.</li>
<li>HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.</li>
</ul>


NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.
Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.
HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.


Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

<ul>
<li>Japan to follow US higher on the much better-than-expected jobs report and the yen back to 148.9</li>
<li>Exporters including the Autos with high US exposures as well as Inbound related laggards such as Isetan Mitsukoshi and Shiseido/Kose should see sentiment improve</li>
<li>The strong US data should also help the JP Shippers rebound after dropping -8.2% on Fri on the end of the US port workers strike</li>
</ul>


Japan to follow US higher on the much better-than-expected jobs report and the yen back to 148.9
Exporters including the Autos with high US exposures as well as Inbound related laggards such as Isetan Mitsukoshi and Shiseido/Kose should see sentiment improve
The strong US data should also help the JP Shippers rebound after dropping -8.2% on Fri on the end of the US port workers strike


Japan Morning Connection: Expect Rebound After Strong US Job Data

<ul>
<li>Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.</li>
<li>Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.</li>
<li>Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.</li>
</ul>


Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.
Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.
Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.


Japan Morning Connection: Exporters to Jump on the Weak Yen

<ul>
<li>TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.</li>
<li>Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.</li>
<li>Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.</li>
</ul>


TXN lowering capex slightly and commenting that demand remains below 2019 levels a slight negative for SPE and analog/power names such as Rohm and Fuji Elec.
Keysight technologies strong earnings and guidance beat after hours is a strong positive read for Anritsu who offers similar telco testing products.
Poor sales figures from Hainan Island point to a continued tough operating environment in China for cosmetics names such as Shiseido.


Japan Morning Connection: Rohm, Anritsu, Shiseido

<ul>
<li>Estee Lauder continues to  underwhelm on its China strategy, making names with less country exposure such as Kose look increasingly attractive</li>
<li>While the 7&amp;I deal outcome remains highly  uncertain, NKY225 replacement candidates should see a lift in the short-term</li>
<li>This includes PPIH, which looks oversold after yesterdays negative price reaction to the Founder's 22 year old son being promoted to a non-exec director.</li>
</ul>


Estee Lauder continues to  underwhelm on its China strategy, making names with less country exposure such as Kose look increasingly attractive
While the 7&amp;I deal outcome remains highly  uncertain, NKY225 replacement candidates should see a lift in the short-term
This includes PPIH, which looks oversold after yesterdays negative price reaction to the Founder's 22 year old son being promoted to a non-exec director.


Japan Morning Connection: Kose, 7&I, PPIH

Japan

Shiseido Company, Limited manufactures cosmetic and toiletry products. The Company offers an array of makeup and skin-care products, toiletries, beauty salon, pharmaceuticals, foodstuffs, and fine chemicals.

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

Shiseido Company (4911 JP)

Japan Morning Connection: Expect Rebound After Strong US Job Data

Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Japan Morning Connection: Rohm, Anritsu, Shiseido

TXN's lower capex and weak demand as slight negative for SPE and analog/power companies; Keysight's strong earnings and guidance is positive for...

Andrew Jackson

Japan Morning Connection: Kose, 7&I, PPIH

Estee Lauder continues to struggle while those with less China exposure such as Kose look more attractive. Uncertainty over 7&I deal should lift...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

NVDA +4.1% on comments from Hon Hai that demand for Blackwell chips was ‘crazy’, Oil related will follow US lower, HK futures off the lows should...

Andrew Jackson

Japan Morning Connection: Expect Rebound After Strong US Job Data

​Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

​PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Japan Morning Connection: Rohm, Anritsu, Shiseido

TXN's lower capex and weak demand as slight negative for SPE and analog/power companies; Keysight's strong earnings and guidance is positive for...

Andrew Jackson

Japan Morning Connection: Kose, 7&I, PPIH

Estee Lauder continues to struggle while those with less China exposure such as Kose look more attractive. Uncertainty over 7&I deal should lift...

Andrew Jackson

Japan's market is expected to rise following the US jobs report, benefiting exporters and shippers after a recent drop.

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...