Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Fuji Electric rolling out new server cooling technology this month cutting power consumption by 85% — worth picking up after yesterday's -5.6% dip.</li>
<li>QD Laser still -17% over the last week despite TDK partnership, after collateral requirements were tightened for Japanese retail.</li>
<li>With Space names rebounding overnight, the big selling for Japanese peers should abates after big corrections over the last week.</li>
</ul>


Fuji Electric rolling out new server cooling technology this month cutting power consumption by 85% — worth picking up after yesterday's -5.6% dip.
QD Laser still -17% over the last week despite TDK partnership, after collateral requirements were tightened for Japanese retail.
With Space names rebounding overnight, the big selling for Japanese peers should abates after big corrections over the last week.


Japan Morning Connection: ASIC Names Surge on Huang's Endorsement as HPE Numbers Fuel AI Infra Plays

<ul>
<li>Softbank claims Toyota's crown as Japan's largest company as ARM +15.7% on NVDA's PC superchip announcement.</li>
<li>QD Laser and TDK announce RGB laser partnership for building mass-production capability for smart-glasses hardware.</li>
<li>Space names facing heavy profit taking again despite Astroscale -14.2%, QPS -13.9% and Axelspace -10.6% yesterday.</li>
</ul>


Softbank claims Toyota's crown as Japan's largest company as ARM +15.7% on NVDA's PC superchip announcement.
QD Laser and TDK announce RGB laser partnership for building mass-production capability for smart-glasses hardware.
Space names facing heavy profit taking again despite Astroscale -14.2%, QPS -13.9% and Axelspace -10.6% yesterday.


Japan Morning Connection: Long AI Short Software Trade Unwinding as Jensen Backs Software

<ul>
<li>Shin Etsu likely to catch up today after Sumco's +19.23% move on Nomura TP raise from AI wafer demand.</li>
<li>Fuji Electric may get more attention after plans to launch a new liquid cooling product for servers which could reduce power by as much as 85%.</li>
<li>A surge in the US for software should help NEC, Fujitsu, OBIC which are all not far from their lows.</li>
</ul>


Shin Etsu likely to catch up today after Sumco's +19.23% move on Nomura TP raise from AI wafer demand.
Fuji Electric may get more attention after plans to launch a new liquid cooling product for servers which could reduce power by as much as 85%.
A surge in the US for software should help NEC, Fujitsu, OBIC which are all not far from their lows.


Japan Morning Connection: Blue Origin Blast Will Only Add to SpaceX IPO Excitement

<ul>
<li>Kioxia set for a big open after a brief -4.6% correction yesterday with comment from UBS turning memory sentiment decisively bullish.</li>
<li>Xiaomi’s numbers yesterday should be a shot across the bow for smartphone related names. MLCC makers Taiyo Yuden, Murata and TDK looking increasingly stretched with big exposure to the market.</li>
<li>Software rotation bid evaporates as AI surges. Expect an underperformance today.</li>
</ul>


Kioxia set for a big open after a brief -4.6% correction yesterday with comment from UBS turning memory sentiment decisively bullish.
Xiaomi’s numbers yesterday should be a shot across the bow for smartphone related names. MLCC makers Taiyo Yuden, Murata and TDK looking increasingly stretched with big exposure to the market.
Software rotation bid evaporates as AI surges. Expect an underperformance today.


Japan Morning Connection: Kioxia Set for a Big Open as Memory Surges to New Records

<ul>
<li>MLCC names have exploded higher recently but are very vulnerable to trends outside of the AI thematic.</li>
<li>Space names Astroscale, Synspective, Axelspace and QPS had a very strong day Friday with more gains set to follow.</li>
<li>Power/Automative semi's Rohm, Fuji Electric and Renesas set to catch a bid after Qualcomm expands Stellantis deal</li>
</ul>


MLCC names have exploded higher recently but are very vulnerable to trends outside of the AI thematic.
Space names Astroscale, Synspective, Axelspace and QPS had a very strong day Friday with more gains set to follow.
Power/Automative semi's Rohm, Fuji Electric and Renesas set to catch a bid after Qualcomm expands Stellantis deal


Japan Morning Connection: MLCC Names Seem Stretched While Server Sentiment to Lift NEC and Fujitsu

Trading Japanese equities since 2004 I have worked at several firms in Tokyo, HK and currently Singapore. My main focus since 2015 has been on fundamentally driven, sector neutral L/S strategies for the large-cap Japan universe, with a tilt towards the tech and industrial sectors.

Andrew Jackson
Japanese Equity Specialist
• Ortus Advisors

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MLCC names have been surging but are vulnerable to non-AI trends. Space names and power/automotive semiconductors are poised for gains.

Andrew Jackson

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ASIC names surge on Huang's trillion dollar Marvell endorsement. HP enterprise up as much as 36% on bumper numbers. A strong focus on all things...

Andrew Jackson

Japan Morning Connection: Long AI Short Software Trade Unwinding as Jensen Backs Software

Software set to surge with Jensen’s narrative that AI agents will consume more software, and that demand for software engineers is set to sharply...

Andrew Jackson

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Space names Axelspace, QPS, Synspective and Astroscale all sold off Friday on Blue Origin explosion but unlikely to wallow long with SpaceX IPO...

Andrew Jackson

Japan Morning Connection: Kioxia Set for a Big Open as Memory Surges to New Records

Memory sentiment bullish after UBS comment, setting up a big open for Kioxia after a brief -4.6% correction yesterday. Semi names offer buying...

Andrew Jackson

Japan Morning Connection: MLCC Names Seem Stretched While Server Sentiment to Lift NEC and Fujitsu

​MLCC names have been surging but are vulnerable to non-AI trends. Space names and power/automotive semiconductors are poised for gains.

Andrew Jackson

MLCC names have been surging but are vulnerable to non-AI trends. Space names and power/automotive semiconductors are poised for gains.