Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Intel jumping on news of possible fab JV with TSMC for US production </li>
<li>AMAT numbers missed after market on the impact from China curbs. Largely expected but a slight negative for JP SPE to start </li>
<li>Good numbers from Sony with GN&amp;S trending well and Sumitomo Forestry new MTD surprises to the upside. </li>
</ul>


Intel jumping on news of possible fab JV with TSMC for US production 
AMAT numbers missed after market on the impact from China curbs. Largely expected but a slight negative for JP SPE to start 
Good numbers from Sony with GN&amp;S trending well and Sumitomo Forestry new MTD surprises to the upside. 


Japan Morning Connection: Tariff Delay a Tailwind, Tech and Homebuilders Up

Japan Specialist

Mark Chadwick

<ul>
<li>Japanese equities fell this week, with the Nikkei losing 2% and Topix down 1.8%.</li>
<li>Japan’s entertainment stocks have been on a tear over the past six months, and there’s little sign of momentum fading. </li>
<li>Japan’s economy is heating up, and markets are taking notice. The 10-year bond yield has climbed to 1.29%, the highest in 14 years</li>
</ul>


Japanese equities fell this week, with the Nikkei losing 2% and Topix down 1.8%.
Japan’s entertainment stocks have been on a tear over the past six months, and there’s little sign of momentum fading. 
Japan’s economy is heating up, and markets are taking notice. The 10-year bond yield has climbed to 1.29%, the highest in 14 years


Japan Strategy Weekly | The Entertainment Boom

<ul>
<li>US markets fall as tech stocks slide – Fed holds rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while Tesla rises despite weak results.</li>
<li>Fed cautious on inflation and rates – Officials see trade and immigration pressures, inflation remains elevated, job market solid, and a higher bar for further rate cuts.</li>
<li>Strong earnings from Japan Inc.  – Advantest's profit up 2.7x, Makita's net profit up 65%,  &amp; Shin Etsu's profit rises 6%.</li>
</ul>


US markets fall as tech stocks slide – Fed holds rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while Tesla rises despite weak results.
Fed cautious on inflation and rates – Officials see trade and immigration pressures, inflation remains elevated, job market solid, and a higher bar for further rate cuts.
Strong earnings from Japan Inc.  – Advantest's profit up 2.7x, Makita's net profit up 65%,  &amp; Shin Etsu's profit rises 6%.


Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Our bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..</li>
<li>... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.</li>
<li>Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond</li>
</ul>


Our bullish outlook on global equities (MSCI ACWI) remains intact with ACWI-US and the S&amp;P 500 firmly trending higher. Our recommendation since mid-October to use any pre-election pullback in..
... the ACWI or the SPX as an opportunity to add exposure continues to pay off, and there is not much left to do except ride the trend higher.
Additionally, we still see a high probability of significant upside going into year-end and the early part of 2025 -- and likely beyond


Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

<ul>
<li>SMCI +32% as it staves off delisting continues to set a positive tone for Nidec</li>
<li>Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco</li>
<li>Highlights relative cheapness for Japanese game stocks as take-over targets</li>
</ul>


SMCI +32% as it staves off delisting continues to set a positive tone for Nidec
Sony reportedly looking to fully acquire Kadokawa points to more downside for Bandai Namco
Highlights relative cheapness for Japanese game stocks as take-over targets


Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

Japan

Sony Group Corporation manufactures and distributes electronics products and provides related solutions. The Company produces televisions, cameras, mobiles, audio and video products. game equipment, and more. Sony Group also engages in game production,  movie production, music production, and other businesses.

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Sony Corp (SONY US)

Japan Morning Connection: Tariff Delay a Tailwind, Tech and Homebuilders Up

Intel is considering a fab JV with TSMC for US production, AMAT numbers missed due to China curbs, Sony and Sumitomo Forestry report positive...

Andrew Jackson

Japan Strategy Weekly | The Entertainment Boom

Japanese equities fell this week, but Japan's entertainment stocks continue to surge amid a heating economy and rising bond yields.

Mark Chadwick

Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...

Mark Chadwick

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Tariff Delay a Tailwind, Tech and Homebuilders Up

​Intel is considering a fab JV with TSMC for US production, AMAT numbers missed due to China curbs, Sony and Sumitomo Forestry report positive...

Andrew Jackson

Japan Strategy Weekly | The Entertainment Boom

​Japanese equities fell this week, but Japan's entertainment stocks continue to surge amid a heating economy and rising bond yields.

Mark Chadwick

Ohayo Japan | Nvidia, Meta, and Microsoft Hit Hard

​US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...

Mark Chadwick

Ride the Trend Higher in MSCI ACWI and S&P 500; Buy/Stay Long Global Discretionary, Services, Tech

Ride the Trend Higher in MSCI $ACWI and $SPX; We are still bullish as Risk-On Signals Dominate. Ideas to buy/stay long in global Discretionary,...

Vermilion Research

Japan Morning Connection: Sony Eyeing Elden Ring as a PS Exclusive to Counter CoD on Xbox?

​SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...

Andrew Jackson

Intel is considering a fab JV with TSMC for US production, AMAT numbers missed due to China curbs, Sony and Sumitomo Forestry report positive...

Japanese equities fell this week, but Japan's entertainment stocks continue to surge amid a heating economy and rising bond yields.

US markets fall on tech stock slide despite Fed holding rates, Nvidia drops 4% on export concerns, Meta and Microsoft decline post-earnings, while...

SMCI's strong performance and efforts to avoid delisting set positive tone for Nidec. Sony's potential acquisition of Kadokawa point to downside...