Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. SPX -1.2% ahead of Fed; Tech pulls back after torrid MTD; Eyes on Fed as Consensus converges on 25bp hike; More earnings ahead as FAANG(you get it) this week</li>
<li>JAPAN. NKY Futs  vs CASh -0.1%; USDJPY 130.44. ; Calls for more Activists?! Foreign Tourist Spend normalizes; KEPCO Nuclear plant powers down; Notable Earnings beats:  OLC, Omron; NEC; Misses: Canon </li>
<li>DAILY NUGGETS. Suzuki embraces carbon neutrality in a different form - yes a very different form...see below !</li>
</ul>


OVERSEAS. SPX -1.2% ahead of Fed; Tech pulls back after torrid MTD; Eyes on Fed as Consensus converges on 25bp hike; More earnings ahead as FAANG(you get it) this week
JAPAN. NKY Futs  vs CASh -0.1%; USDJPY 130.44. ; Calls for more Activists?! Foreign Tourist Spend normalizes; KEPCO Nuclear plant powers down; Notable Earnings beats:  OLC, Omron; NEC; Misses: Canon 
DAILY NUGGETS. Suzuki embraces carbon neutrality in a different form - yes a very different form...see below !


Good Morning Japan |RETREAT ! SPX Fails at 4100 (Again) Ahead of Fed; Calls for More Activists in JP

<ul>
<li>OVERSEAS.  Bull vs Bears swings as SPX closes flat; TSLA back on track with beat; ASML comforts Semi bulls; Global Shipping Alliance Crumbles, Negative Containers. </li>
<li>JAPAN.  NKY Futs flat vs Cash; USDJPY 129.57; Japan Bond investors flee US; TSE to end transitional listing; Reg Bank Consol; Pressure for JP Shippers ? Cyberagent - better future?</li>
<li>DAILY NUGGET. We look at the big decarbonization push via carbon capture, and see MHI (7011) as the biggest Japan beneficiary. </li>
</ul>


OVERSEAS.  Bull vs Bears swings as SPX closes flat; TSLA back on track with beat; ASML comforts Semi bulls; Global Shipping Alliance Crumbles, Negative Containers. 
JAPAN.  NKY Futs flat vs Cash; USDJPY 129.57; Japan Bond investors flee US; TSE to end transitional listing; Reg Bank Consol; Pressure for JP Shippers ? Cyberagent - better future?
DAILY NUGGET. We look at the big decarbonization push via carbon capture, and see MHI (7011) as the biggest Japan beneficiary. 


Good Morning Japan |Off the Lows to Flat as ASML, TSLA Beats; Global Shipping Alliance Crumbles

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

<ul>
<li>KLine is the cheapest of the three Japan majors in terms of forward consensus PER. And forward EPS ratios are improving as the company buys back shares. </li>
<li>The CEO mentioned in December the possibility of additional shareholder return this fiscal year based on cashflow. </li>
<li>In this insight, we look at what he knew then, and what he might know now, and the chances for an additional buyback (and how it might work).</li>
</ul>


KLine is the cheapest of the three Japan majors in terms of forward consensus PER. And forward EPS ratios are improving as the company buys back shares. 
The CEO mentioned in December the possibility of additional shareholder return this fiscal year based on cashflow. 
In this insight, we look at what he knew then, and what he might know now, and the chances for an additional buyback (and how it might work).


KLINE (9107) - Chances for an Additional Buyback At Q3 Earnings?

<ul>
<li>Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan.<strong> FOLLOW US to keep abreast</strong>
</li>
<li>OVERSEAS: Holidays last week - low liquidity, stocks+bonds higher, USD lower; This week: deluge of data with Employment key; MSFT-Activision deal in doubt; Apple production headwinds; China COVID unrest spreads </li>
<li>JAPAN: SHOCK !  Samurai Blues lost 0-1 to Costa Rica - A nation in pain;   Kishida support continues to wane; EPCO collusion fines;  Earnings pressure ahead for Shippers.</li>
</ul>


Good Morning Japan:  We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in Japan. FOLLOW US to keep abreast

OVERSEAS: Holidays last week - low liquidity, stocks+bonds higher, USD lower; This week: deluge of data with Employment key; MSFT-Activision deal in doubt; Apple production headwinds; China COVID unrest spreads 
JAPAN: SHOCK !  Samurai Blues lost 0-1 to Costa Rica - A nation in pain;   Kishida support continues to wane; EPCO collusion fines;  Earnings pressure ahead for Shippers.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/kawasaki-kisen-kaisha-ltd" target="_blank" data-smartkarma-citation="entities:3548:1" rel="noopener">Kawasaki Kisen Kaisha (9107 JP)</a> had a shareholder return program in place in May. Earnings forecasts on 3 Nov were slightly disappointing so the stock sold off but...</li>
<li>The large buyback allowed investors to try to game the situation. Some may have, but this morning on the execution, VERY few Real World Float holders sold. </li>
<li>That leaves the stock squeezy going into a buyback to repurchase 20% of the Max Real World Float (including short-created longs). </li>
</ul>



Kawasaki Kisen Kaisha (9107 JP) had a shareholder return program in place in May. Earnings forecasts on 3 Nov were slightly disappointing so the stock sold off but...
The large buyback allowed investors to try to game the situation. Some may have, but this morning on the execution, VERY few Real World Float holders sold. 
That leaves the stock squeezy going into a buyback to repurchase 20% of the Max Real World Float (including short-created longs). 


KLine (9107) Buyback Redux-Squared - Post-Buyback Could Get Squeezy

Japan

Nippon Yusen Kabushiki Kaisha mainly provides marine transportation services and transportation management solution from international hub ports to both domestic and international ports. The Company operates container transportation, tramp and specialized carriers, and logistics and cruise lines. Nippon Yusen offers scheduled and unscheduled transportation services around the world.

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Nippon Yusen Kk (9101 JP)

Good Morning Japan |RETREAT ! SPX Fails at 4100 (Again) Ahead of Fed; Calls for More Activists in JP

JAPAN. NKY Futs vs CASh -0.1%; USDJPY 130.44. ; Calls for more Activists?! Foreign Tourist Spend normalizes; KEPCO Nuclear plant powers down;...

Mark Chadwick

Good Morning Japan |Off the Lows to Flat as ASML, TSLA Beats; Global Shipping Alliance Crumbles

JAPAN. NKY Futs flat vs Cash; USDJPY 129.57; Japan Bond investors flee US; TSE to end transitional listing; Reg Bank Consol; Pressure for JP...

Mark Chadwick

KLINE (9107) - Chances for an Additional Buyback At Q3 Earnings?

KLine (9107) will report earnings on 3 Feb at lunchtime. By that time, Q3 results for ONE should be known and the existing ¥100bn buyback should be...

Travis Lundy

Good Morning Japan | Samurai Blues

Good Morning Japan: We strive to provide the very best breaking macro, stock and thematic overnight news that will impact your trading day in...

Mark Chadwick

KLine (9107) Buyback Redux-Squared - Post-Buyback Could Get Squeezy

The buyback was large, but only Effissimo, and Mizuho, and 2mm shares more sold into it. That leaves ~19mm shares to buy in 16wks. That is 20-35%...

Travis Lundy

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