'Quantamental' Japan Specialist, LightStream Research

Campbell Gunn

'Quantamental' Japan Specialist

ja research

ja research is an independent research platform focused exclusively on Japanese equities. Leveraging data and graphic analysis provided by Japan Analytics, we provide insights on small and medium-sized companies that have been ignored by the sell-side as well as challenging conventional wisdom on larger companies. We also offer analyst and corporate access, the latter with translation if required. 

Thematic (Sector/Industry)

SEVEN UP QUARTERS - With 95% of this quarters' results now announced, Japanese listed company's earnings per share has now risen for seven straight quarters.  Revenue is up 7% year-on-year and 1.8% over the last three months. For Operating and Net Income, the numbers are 13.9%/4.4% and 24.1%/10.3%, respectively.PEAK NET INCOME &amp; 'ABE-ERA' RECORD-LOW PE - The ¥9.6 trillion year-on-year improvement in Net Income is mostly a result in turnarounds in the Energy, Electronics and Auto sectors courtesy…

SEVEN UP QUARTERS - With 95% of this quarters' results now announced, Japanese listed company's earnings per share has now risen for seven straight quarters.  Revenue is up 7% year-on-year and 1.8% over the last three months. For Operating and Net Income, the numbers are 13.9%/4.4% and 24.1%/10.3%, respectively.PEAK NET INCOME &amp; 'ABE-ERA' RECORD-LOW PE - The ¥9.6 trillion year-on-year improvement in Net Income is mostly a result in turnarounds in the Energy, Electronics and Auto sectors courtesy…

Japan: Results and Revisions Update - Aggregate TTM Net Income Exceeds 2019 Full-Year Forecast

DOMESTIC  DEFENSIVE SECTORS ▲ GLOBAL CYCLICAL SECTORS ▼ -  The Q1 trend shift away from global cyclical sectors accelerated in the second quarter and all of these sectors saw declines in weight over the last three months.SECTOR RECOMMENDATIONS - Our most preferred sectors are currently Healthcare, Energy, Other Commercial Products, Utilities and Information Technology and least preferred sectors are Multi-Industry, Metals, Chemicals, Autos, Machinery, Banks and Consumer Services.MARKET OUTLOOK MIXED - With manufacturing sectors comprising 60% of the market and with many domestic sectors now fully-valued, it is hard to see the market making much headway over the rest of the summer.

DOMESTIC  DEFENSIVE SECTORS ▲ GLOBAL CYCLICAL SECTORS ▼ -  The Q1 trend shift away from global cyclical sectors accelerated in the second quarter and all of these sectors saw declines in weight over the last three months.SECTOR RECOMMENDATIONS - Our most preferred sectors are currently Healthcare, Energy, Other Commercial Products, Utilities and Information Technology and least preferred sectors are Multi-Industry, Metals, Chemicals, Autos, Machinery, Banks and Consumer Services.MARKET OUTLOOK MIXED - With manufacturing sectors comprising 60% of the market and with many domestic sectors now fully-valued, it is hard to see the market making much headway over the rest of the summer.

Japan : Q2 Sector & Company Performance Review

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

MSCI Emerging Markets Index / Technical Analysis

Emerging markets continue to outperform developed international equities, and within EM, the BRIC country grouping remains leadership.  In addition to sector and regional market comments, today’s report includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

Emerging markets continue to outperform developed international equities, and within EM, the BRIC country grouping remains leadership.  In addition to sector and regional market comments, today’s report includes a wide variety of bottom-up recommendations, spanning most sectors and all market capitalizations.

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

With Earning Season upon us we looked back over the last 3 weeks to see which names have had a good increase in volume. At the top of the list was <a href="https://www.smartkarma.com/entities/209" target="_blank" data-smartkarma-citation="entities:209:1">Kobe Steel Ltd (5406 JP)</a>, but we do not need to get into that. We basically screened for names with a greater than 1 standard deviation spike in volume over the last 3 weeks relative to the 1-year average.<h2>Screen Results (Recent spike in Volume)</h2><figure class="editor-figure mceNonEditable"><img src="https://static-prod.smartkarma.com/images/media/000/036/623/original/2.png?1509047483" class="editor-image img-responsive" data-smartkarma-image-id="36623"></figure><div class="content-caption">Source: Custom Products</div>Volume for <a href="https://www.smartkarma.com/entities/21018" target="_blank" data-smartkarma-citation="entities:21018:1">Tsubaki Nakashima Co Ltd (6464 JP)</a> is up 2 standard deviation over the last…

With Earning Season upon us we looked back over the last 3 weeks to see which names have had a good increase in volume. At the top of the list was Kobe Steel Ltd (5406 JP), but we do not need to get into that. We basically screened for names with a greater than 1 standard deviation spike in volume over the last 3 weeks relative to the 1-year average.Screen Results (Recent spike in Volume)Source: Custom ProductsVolume for Tsubaki Nakashima Co Ltd (6464 JP) is up 2 standard deviation over the last…

Names with Increased Volume Leading into Earnings Season....

Japan

TOKAI CARBON CO., LTD. produces carbon-based industrial products such as carbon black for various rubber products.  The Company also manufactures high-pressured gases and industrial electric furnaces.

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Tokai Carbon (5301 JP)

Japan: Results and Revisions Update - Aggregate TTM Net Income Exceeds 2019 Full-Year Forecast

SEVEN UP QUARTERS - With 95% of this quarters' results now announced, Japanese listed company's earnings per share has now risen for seven straight...

Campbell Gunn

Japan : Q2 Sector & Company Performance Review

DOMESTIC DEFENSIVE SECTORS ▲ GLOBAL CYCLICAL SECTORS ▼ - The Q1 trend shift away from global cyclical sectors accelerated in the second quarter...

Campbell Gunn

EM Equity Strategy: Overweight BRIC

Emerging markets continue to outperform developed international equities, and within EM, the BRIC country grouping remains leadership. In addition...

Vermilion Research

Names with Increased Volume Leading into Earnings Season....

With Earning Season upon us we looked back over the last 3 weeks to see which names have had a good increase in volume. At the top of the list was...

Custom Products Group

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