Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Samsung posts record 4Q earnings keeps the memory train running. Sandisk up again, HDD down</li>
<li>Market warming up to Intel's Core Ultra Series 3 which seemed to be lost in the static after yesterday's announcement at CES</li>
<li>Cheesesteak for breakfast?? Its no different to eating carrots and broccoli according to Bobby Kennedy's inverted pyramid</li>
</ul>


Samsung posts record 4Q earnings keeps the memory train running. Sandisk up again, HDD down
Market warming up to Intel's Core Ultra Series 3 which seemed to be lost in the static after yesterday's announcement at CES
Cheesesteak for breakfast?? Its no different to eating carrots and broccoli according to Bobby Kennedy's inverted pyramid


Japan Morning Connection: Trump Looking to Hike Defense Budget 50% to Outweigh Governance Gripes

<ul>
<li>Marvell's bullish guidance sets strong tone for ASIC with revs set to rise 4x by next year.</li>
<li>Reports that the Trump admin is going to issue executive orders for robotics firms will help Japanese FA.</li>
<li>Microchip Tech numbers will continue to buoy industrial and component names even after yesterdays strength.</li>
</ul>


Marvell's bullish guidance sets strong tone for ASIC with revs set to rise 4x by next year.
Reports that the Trump admin is going to issue executive orders for robotics firms will help Japanese FA.
Microchip Tech numbers will continue to buoy industrial and component names even after yesterdays strength.


Japan Morning Connection: Power/Industrial Semi Strength Offsets Relative Weakness for Tech Big Guns

<ul>
<li>Homebuilders surging on prospect for lower rates to help Sumi Forestry and Sekisui House.</li>
<li>NVDA and AMD down as rivalry with Google for AI chips heats up.</li>
<li>Bain looking to take around 13%/36mm shs of their holding in Kioxia off the table in a block trade this Friday.</li>
</ul>


Homebuilders surging on prospect for lower rates to help Sumi Forestry and Sekisui House.
NVDA and AMD down as rivalry with Google for AI chips heats up.
Bain looking to take around 13%/36mm shs of their holding in Kioxia off the table in a block trade this Friday.


Japan Morning Connection: New Potential Fed Chairman Likely to Add Another Voice for 50 Bps Cut

<ul>
<li>MS downgrades PC makers on risk high memory prices eat into margins.</li>
<li>China angst against Takaichi TW comments will cause JP rails, hotels etc. to fall further.</li>
<li>Advantest CEO meeting yesterday unlikely enough to appease investor demands after huge run.</li>
</ul>


MS downgrades PC makers on risk high memory prices eat into margins.
China angst against Takaichi TW comments will cause JP rails, hotels etc. to fall further.
Advantest CEO meeting yesterday unlikely enough to appease investor demands after huge run.


Japan Morning Connection: Tech Skittish Ahead of NVDA but Memory Continues to Run

<ul>
<li>Mega caps announcing bigger capex sends Microsoft and Meta down AH, but is another positive for semi-cap plays.</li>
<li>Disco numbers miss, but memory related shipment miss may be a matter of timing and expect management to say as much on call today</li>
<li>Blackwell for China will mean more upside for Ibiden, not that it needs any help after +25% in 2-days thanks to Nidec (and Nagamori's) demise.</li>
</ul>


Mega caps announcing bigger capex sends Microsoft and Meta down AH, but is another positive for semi-cap plays.
Disco numbers miss, but memory related shipment miss may be a matter of timing and expect management to say as much on call today
Blackwell for China will mean more upside for Ibiden, not that it needs any help after +25% in 2-days thanks to Nidec (and Nagamori's) demise.


Japan Morning Connection: Big Gains for Semi-Testers and Memory Sets Strong Tone (Again)

Japan

Sumitomo Forestry Co., Ltd. sells lumber and wood-related construction materials.  The Company constructs and markets a variety of homes, including custom-built wooden houses, and also manufactures and distributes high-value added wood-based products.  Sumitomo Forestry also maintains a significant amount of Japan's forests.

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Sumitomo Forestry (1911 JP)

Japan Morning Connection: Trump Looking to Hike Defense Budget 50% to Outweigh Governance Gripes

Likely to see a weakness in Japan's semiconduction production chemical companies with new competition from China. Homebuilders took a hit from...

Andrew Jackson

Japan Morning Connection: Power/Industrial Semi Strength Offsets Relative Weakness for Tech Big Guns

Calls for an end of year rally growing, especially for tech. Some excitement for all things robot related. Could be room for Japanese FA laggards...

Andrew Jackson

Japan Morning Connection: New Potential Fed Chairman Likely to Add Another Voice for 50 Bps Cut

NVDA and AMD fell lower with competition in AI chips, Bain plans to sell part of Kioxia stake, Socionext seems to have lost connection as a Google...

Andrew Jackson

Japan Morning Connection: Tech Skittish Ahead of NVDA but Memory Continues to Run

JP SPE rebound momentum likely to drop out following the shaky lead overnight. JR rails and hotel names may trade down following tensions with...

Andrew Jackson

Japan Morning Connection: Big Gains for Semi-Testers and Memory Sets Strong Tone (Again)

Smaller tester names may have room for further upside after Teradyne and Advantest surged. Any excessive weakness for Disco should be an oportunity...

Andrew Jackson

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