Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX +0.7% with all sectors in the green ahead of expected soft CPI print on Wed; Oil strong with weaker USD; MSFT wins as Activision purchase progresses</li>
<li>JAPAN. NKY Futures +0.4% vs Cash; USDJPY 140.3; Markets start coalesing around BOJ policy shift; TSE kicks out 48 companies from Prime listing; Big Earnings Beat from Lawson(2651)</li>
<li>NUGGET. Building a global semi-supply chain is a central tenet of Japan's industrial policy. We think focusing on short term cyclical semi-weakness risks missing out on the home runs</li>
</ul>


OVERSEAS. SPX +0.7% with all sectors in the green ahead of expected soft CPI print on Wed; Oil strong with weaker USD; MSFT wins as Activision purchase progresses
JAPAN. NKY Futures +0.4% vs Cash; USDJPY 140.3; Markets start coalesing around BOJ policy shift; TSE kicks out 48 companies from Prime listing; Big Earnings Beat from Lawson(2651)
NUGGET. Building a global semi-supply chain is a central tenet of Japan's industrial policy. We think focusing on short term cyclical semi-weakness risks missing out on the home runs


Ohayo Japan|Equities Bid Ahead of CPI Print; NUGGET:China Semi Derisking - The Winner Is…Yes, Japan!

<ul>
<li>OVERSEAS. US Closed for Memorial Day; SPX Futs rise on Debt Deal prospects; Republican Right Wing opposition emerging; NVIDIA annc partnerships/new chip release that CEO says is "A Big Deal"</li>
<li>JAPAN. NKY Futs +0.2% vs Cash; Likely further follow through to the Upside for Japan stocks on weak yen/debt deal prospects; Softbank share px +8% on ARM new chip rollout</li>
<li>NUGGET.  [Another] Wake-Up Call for Japanese OEMs.  The impact of rapid EV transition is starting with Toyota at the forefront. If this is happening to Toyota NOW, then the rest...</li>
</ul>


OVERSEAS. US Closed for Memorial Day; SPX Futs rise on Debt Deal prospects; Republican Right Wing opposition emerging; NVIDIA annc partnerships/new chip release that CEO says is "A Big Deal"
JAPAN. NKY Futs +0.2% vs Cash; Likely further follow through to the Upside for Japan stocks on weak yen/debt deal prospects; Softbank share px +8% on ARM new chip rollout
NUGGET.  [Another] Wake-Up Call for Japanese OEMs.  The impact of rapid EV transition is starting with Toyota at the forefront. If this is happening to Toyota NOW, then the rest...


Ohayo Japan |SPX Futs Gain on Memorial Day-Debt Optimism; NUGGET: Disruption Gets Real for JP Autos

<ul>
<li>OVERSEAS. SPX Closed -1.1% as US Debt Default risks rise; Democrats and Republicans still far apart;  STRONG US new home Sales; Boeing says Supply Chain Resolution will take Time</li>
<li>JAPAN. NKY Futs -0.9% vs Cash; Japan likely falls 2nd day ; JP Real Wages Fall most in 8 years; S&amp;P Cuts Softbank's Debt in deeper Junk - Company protests </li>
<li>NUGGET. Japanese Automaker face massive R&amp;D and Capex spend for years to come as they transition to EVs. Free Cash Flow likely turn negative, and profits stagnate.</li>
</ul>


OVERSEAS. SPX Closed -1.1% as US Debt Default risks rise; Democrats and Republicans still far apart;  STRONG US new home Sales; Boeing says Supply Chain Resolution will take Time
JAPAN. NKY Futs -0.9% vs Cash; Japan likely falls 2nd day ; JP Real Wages Fall most in 8 years; S&amp;P Cuts Softbank's Debt in deeper Junk - Company protests 
NUGGET. Japanese Automaker face massive R&amp;D and Capex spend for years to come as they transition to EVs. Free Cash Flow likely turn negative, and profits stagnate.


Ohayo Japan |SPX -1.1% as Equities Start to Heed Debt Risks; NUGGET: JP Autos- Painful EV Transition

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Tata Technologies / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/tata-technologies" target="_blank" data-smartkarma-citation="entities:23700:1" rel="noopener">Tata Technologies (TATATECH IN)</a>  (TT) is looking to raise around US$600m in its upcoming India IPO.</li>
<li>Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers. </li>
<li>In this note we talk about the not-so-positive aspects of the deal.</li>
</ul>



Tata Technologies (TATATECH IN)  (TT) is looking to raise around US$600m in its upcoming India IPO.
Tata Technologies is a global engineering services company offering product development and digital solutions, including turnkey solutions, to global original equipment manufacturers (OEMs) and their tier 1 suppliers. 
In this note we talk about the not-so-positive aspects of the deal.


Tata Technologies Pre-IPO - The Negatives - Still Has a Few Issues

<ul>
<li>OVERSEAS. SPX rose +0.4% lead by gains in Energy, which was well bid on OPEC+ surprise cut; ISM Manf  PMI print weaker; Rates retreat as US 2Yr dips below 4%</li>
<li>JAPAN. NKY Futs +0.1% vs Cash; USDJPY 132.4; BOJ Tankan reading points to weaker manufacturing; Potentially complicates BOJ exit; Activist ValueAct Presses Seven &amp; I </li>
<li>NUGGET. Watch FY3/24  Japan Total Payout Ratios - The Heat is On ! as JP Corporate significantly lags in Total Payout Ratios, while also sitting on ¥100 trn of cash.</li>
</ul>


OVERSEAS. SPX rose +0.4% lead by gains in Energy, which was well bid on OPEC+ surprise cut; ISM Manf  PMI print weaker; Rates retreat as US 2Yr dips below 4%
JAPAN. NKY Futs +0.1% vs Cash; USDJPY 132.4; BOJ Tankan reading points to weaker manufacturing; Potentially complicates BOJ exit; Activist ValueAct Presses Seven &amp; I 
NUGGET. Watch FY3/24  Japan Total Payout Ratios - The Heat is On ! as JP Corporate significantly lags in Total Payout Ratios, while also sitting on ¥100 trn of cash.


Good Morning Japan |Energy Leads SPX to Gains; NUGGET: Watch FY3/24 JP Payout Ratios-The Heat Is On!

Japan

Suzuki Motor Corporation manufactures automobiles, motorcycles, and their related parts. The Company has production facilities in USA, Japan, Taiwan, India, Pakistan, Indonesia, Thailand, and Hungary.

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

Suzuki Motor (7269 JP)

Ohayo Japan|Equities Bid Ahead of CPI Print; NUGGET:China Semi Derisking - The Winner Is…Yes, Japan!

SPX bid ahead of CPI as soft landing narrarive dominates; NKY Futures +0.4% vs Cash; USDJPY 140.3; Markets start coalesing around BOJ policy shift;...

Mark Chadwick

Ohayo Japan |SPX Futs Gain on Memorial Day-Debt Optimism; NUGGET: Disruption Gets Real for JP Autos

US Memorial Holidays. NKY Futs +0.2% vs Cash; Likely further follow through to the Upside for Japan stocks on weak yen/debt deal prospects;...

Mark Chadwick

Ohayo Japan |SPX -1.1% as Equities Start to Heed Debt Risks; NUGGET: JP Autos- Painful EV Transition

US debt impasse continues - SPX fall -1.1% NKY Futs -0.9% vs Cash; Japan likely falls 2nd day ; JP Real Wages Fall most in 8 years; S&P Cuts...

Mark Chadwick

Tata Technologies Pre-IPO - The Negatives - Still Has a Few Issues

Tata Technologies (TATATECH IN) is looking to raise around US$600m in its upcoming India IPO. In this note we talk about the not-so-positive...

Sumeet Singh

Good Morning Japan |Energy Leads SPX to Gains; NUGGET: Watch FY3/24 JP Payout Ratios-The Heat Is On!

Japan desires inflation, but not the cost input-driven type likely to result from OPEC+'s decision. Tankan manufacturing came in weaker...

Mark Chadwick

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)