Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Intel sees its PC biz improve. Positive for flip-chip suppliers including Ibiden.</li>
<li>Honeywell sees strong performance from its commercial aero after-market business. IHI gets a D/G but this may lift.</li>
<li>Nidec ADR's take a -25% thumping on numbers and a bevvy of bad news. Could this be the end for Nagamori?</li>
</ul>


Intel sees its PC biz improve. Positive for flip-chip suppliers including Ibiden.
Honeywell sees strong performance from its commercial aero after-market business. IHI gets a D/G but this may lift.
Nidec ADR's take a -25% thumping on numbers and a bevvy of bad news. Could this be the end for Nagamori?


Japan Morning Connection: STM -14% but Nexperia Cannot Guarantee Supplies to JP Autos

<ul>
<li>Opposition coalition forming against Takaichi, but unlikely to succeed given vast policy differences</li>
<li>Samsung big beat this morning shows the memory super cycle may be a real thing</li>
<li>Softbank to surge with ARM architecture used in latest Broadcom/NVDA multi-year deal for ASIC</li>
</ul>


Opposition coalition forming against Takaichi, but unlikely to succeed given vast policy differences
Samsung big beat this morning shows the memory super cycle may be a real thing
Softbank to surge with ARM architecture used in latest Broadcom/NVDA multi-year deal for ASIC


Japan Morning Connection: Tech Dip Buying Likely After Wobble from Takaichi Political Challenge

<ul>
<li>Outperforming memory and NVDA takes a break while semi-cap and AMD related surge.</li>
<li>Wafer names continue to rise with Siltronic +9.2% taking gains to 85% since mid-Sep. Sumco, Shin Etsu and maybe even Tokuyama in focus.</li>
<li>EssilorLuxottica took its Nikon stake up to 10.8% yesterday, but now reports it has approval to take this to 20%. Can squeeze a lot more.</li>
</ul>


Outperforming memory and NVDA takes a break while semi-cap and AMD related surge.
Wafer names continue to rise with Siltronic +9.2% taking gains to 85% since mid-Sep. Sumco, Shin Etsu and maybe even Tokuyama in focus.
EssilorLuxottica took its Nikon stake up to 10.8% yesterday, but now reports it has approval to take this to 20%. Can squeeze a lot more.


Japan Morning Connection: AMD Deal News Sends AI Lurching Higher

<ul>
<li>Intel keeping the tech tape green on the news it has also reached out to TSMC for partnership</li>
<li>Memory names seeing further profit taking while filing shows Toshiba has made a small sale of its Kioxia holdings.</li>
<li>Medtech and trucks the latest victims of tariff uncertainty after announcements overnight</li>
</ul>


Intel keeping the tech tape green on the news it has also reached out to TSMC for partnership
Memory names seeing further profit taking while filing shows Toshiba has made a small sale of its Kioxia holdings.
Medtech and trucks the latest victims of tariff uncertainty after announcements overnight


Japan Morning Connection: AI and Tech Strength Cooling Ahead of Potential Govt Shutdown and EoQ

<ul>
<li>Nickel surges after Freeport's Indonesian closure will have long term pricing impact. Watch SMM, MMS and Mit Materials.</li>
<li>Inrel approaches Apple for partnership, although its unlikely they can push out TSMC for chips.</li>
<li>Memory takes a break after Micon's earnings seen as not quite good enough after recent gains.</li>
</ul>


Nickel surges after Freeport's Indonesian closure will have long term pricing impact. Watch SMM, MMS and Mit Materials.
Inrel approaches Apple for partnership, although its unlikely they can push out TSMC for chips.
Memory takes a break after Micon's earnings seen as not quite good enough after recent gains.


Japan Morning Connection: Tech Takes a Breather but Marvell Doubles Down with Announced Buyback

Japan

Socionext Inc. designs, develops, and provides SoC (system on chip) solutions and services. The Company offers digital broadcast demodulation solution, video interface conversion solution, imaging solution, engine and accelerator solution, industrial connected solution, and more. Socionext serves customers in consumer, automotive, industrial, and other fields.

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Socionext (6526 JP)

Japan Morning Connection: STM -14% but Nexperia Cannot Guarantee Supplies to JP Autos

ECU prices higher should be a positive for Renesas Electronics and Denso Corp. Uncertainty for power/analog names. HDD laggards picked up overnight.

Andrew Jackson

Japan Morning Connection: Tech Dip Buying Likely After Wobble from Takaichi Political Challenge

Softbank may see upside from US Quantum Computing surge. Tesla scaling back production plans for Optimus may cause some pullback in Harmonic Drive....

Andrew Jackson

Japan Morning Connection: AMD Deal News Sends AI Lurching Higher

AMD surging higher, keeping focus on AI related names. Continued strength for quantum computing names should push Japan's AI SPE names still higher.

Andrew Jackson

Japan Morning Connection: AI and Tech Strength Cooling Ahead of Potential Govt Shutdown and EoQ

Memory names took a leg lower, setting a poor tone for JP peers. Medtech names took a hit with potential tarriffs and price capping pressures.

Andrew Jackson

Japan Morning Connection: Tech Takes a Breather but Marvell Doubles Down with Announced Buyback

Global defense names did well after Trump's comments of support for Ukraine. Marvell jumped after management announced a $1bn accelerated buyback.

Andrew Jackson

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