Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS. Equity Risk-off ahead of NFP; Banks hit on default risk worries and Silvergate Collapse; Bitcoin hit hard (Silverate); Aggressive GM restructuring</li>
<li>JAPAN. NKY Futs -2.2% vs Cash; USDJPY Strengthens to 136.1 as pare risk ahead of Kuroda's final policy decision today;  MORE ACTIVIST WINS-Massive buyback from DNP;  Seven &amp; I Restructuring.</li>
<li>NUGGET. NISSAN, TAKING IT FROM ALL ANGLES. Nissan's bonds downgraded to junk this week; but its worse than you think..company faces serious headwinds.</li>
</ul>


OVERSEAS. Equity Risk-off ahead of NFP; Banks hit on default risk worries and Silvergate Collapse; Bitcoin hit hard (Silverate); Aggressive GM restructuring
JAPAN. NKY Futs -2.2% vs Cash; USDJPY Strengthens to 136.1 as pare risk ahead of Kuroda's final policy decision today;  MORE ACTIVIST WINS-Massive buyback from DNP;  Seven &amp; I Restructuring.
NUGGET. NISSAN, TAKING IT FROM ALL ANGLES. Nissan's bonds downgraded to junk this week; but its worse than you think..company faces serious headwinds.


Good Morning Japan |EQUITY SELL OFF Ahead of NFP-Banks Bear Brunt; NUGGET: Nissan - Its Worse !

<ul>
<li>OVERSEAS.  Powell Testifies. 50bp hike more likely  as inflation higher than expected. Sparks repricing in markets: US Equities hit, UST dumped, USD rises - Choas all round. </li>
<li>JAPAN.  NKY Futs -0.4% vs Cash; USDJPY weakens to 137.1 as Powell tesimony digested;  H3 failure-blow to JP space hopes; "My Number" Use expanded;  Dentsu UK M&amp;A; Many Rating D/Gs </li>
<li>NUGGET. Carbon Capture is a key part of the decarbonization mix; Expect significant spend locally and globally. We look at the opportunity and the firms likely to benefit.  </li>
</ul>


OVERSEAS.  Powell Testifies. 50bp hike more likely  as inflation higher than expected. Sparks repricing in markets: US Equities hit, UST dumped, USD rises - Choas all round. 
JAPAN.  NKY Futs -0.4% vs Cash; USDJPY weakens to 137.1 as Powell tesimony digested;  H3 failure-blow to JP space hopes; "My Number" Use expanded;  Dentsu UK M&amp;A; Many Rating D/Gs 
NUGGET. Carbon Capture is a key part of the decarbonization mix; Expect significant spend locally and globally. We look at the opportunity and the firms likely to benefit.  


Good Morning Japan |Powell Dishes Bitter Pill - Sparks Cross Market Chaos; NUGGET: CCUS Opportunity

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

SBI Sumishin Net Bank  / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/sbi-sumishin-net-bank" target="_blank" data-smartkarma-citation="entities:34572:1" rel="noopener">SBI Sumishin Net Bank (7163 JP)</a> (SSNB) is now looking to raise around US$380m in its second listing attempt.</li>
<li>SBI Sumishin Net Bank is a Japanese digital bank set up as a 50-50 joint venture between Sumitomo Mitsui Trust Bank, Japan’s largest trust bank, and SBI Group.</li>
<li>In this note, we talk about our updated earnigns forecast and thoughts on valuations</li>
</ul>



SBI Sumishin Net Bank (7163 JP) (SSNB) is now looking to raise around US$380m in its second listing attempt.
SBI Sumishin Net Bank is a Japanese digital bank set up as a 50-50 joint venture between Sumitomo Mitsui Trust Bank, Japan’s largest trust bank, and SBI Group.
In this note, we talk about our updated earnigns forecast and thoughts on valuations


SBI Sumishin Net Bank Pre-IPO - Revised Forecast and Valuations - RoA or RoE?

<ul>
<li>SBI Sumishin Net Bank (SSNB) is now looking to raise around US$380m in its second listing attempt.</li>
<li>SBI Sumishin Net Bank is a Japanese digital bank set up as a 50-50 joint venture between Sumitomo Mitsui Trust Bank, Japan’s largest trust bank, and SBI Group.</li>
<li>In this note, we talk about the updates from the latest filings.</li>
</ul>


SBI Sumishin Net Bank (SSNB) is now looking to raise around US$380m in its second listing attempt.
SBI Sumishin Net Bank is a Japanese digital bank set up as a 50-50 joint venture between Sumitomo Mitsui Trust Bank, Japan’s largest trust bank, and SBI Group.
In this note, we talk about the updates from the latest filings.


SBI Sumishin Net Bank Pre-IPO - Refiling Updates - Growth Picks Up

<ul>
<li>OVERSEAS. SPX close near Feb lows as US 2Y hits 4.82%; Inflation -   Mkt sees higher for longer; AMAT disrupt ASML Monopoly? ;  GS gets thumbs down; TESLA DAY</li>
<li>JAPAN. NKY Futs flat vs Cash; USDJPY 136.2;  Toshiba Deal in Doubt; Bullish Calbee Investment Plan; Chinese Real Estate Mkt looking up: + Daikin/Toto; Broker Sell D/G: Makita, Nippon Steel</li>
<li>NUGGET:  Cyberagent - Loss Making Media business set for a turnaround. Looking discounted and the sell off since late 2021,  and given the outlook for its 3 businesses.</li>
</ul>


OVERSEAS. SPX close near Feb lows as US 2Y hits 4.82%; Inflation -   Mkt sees higher for longer; AMAT disrupt ASML Monopoly? ;  GS gets thumbs down; TESLA DAY
JAPAN. NKY Futs flat vs Cash; USDJPY 136.2;  Toshiba Deal in Doubt; Bullish Calbee Investment Plan; Chinese Real Estate Mkt looking up: + Daikin/Toto; Broker Sell D/G: Makita, Nippon Steel
NUGGET:  Cyberagent - Loss Making Media business set for a turnaround. Looking discounted and the sell off since late 2021,  and given the outlook for its 3 businesses.


Good Morning Japan |SPX: Top-Left, Bottom-Right Feb; US2YR@4.82 ; JP Baby Crisis; Nugget: CyberAgent

Japan

NISSAN MOTOR CO., LTD. manufactures and distributes automobiles and related parts. It also provides financing services. Nissan delivers a comprehensive range of products under various brands. The Company manufactures in Japan, the United States, Mexico, the United Kingdom and many other countries.

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Nissan Motor (7201 JP)

Good Morning Japan |EQUITY SELL OFF Ahead of NFP-Banks Bear Brunt; NUGGET: Nissan - Its Worse !

NKY Futs -2.2% vs Cash; USDJPY Strengthens to 136.1 as pare risk ahead of Kuroda's final policy decision today; MORE ACTIVIST WINS-Massive buyback...

Mark Chadwick

Good Morning Japan |Powell Dishes Bitter Pill - Sparks Cross Market Chaos; NUGGET: CCUS Opportunity

REALITY CHECK FROM POWELL; USDJPY weakens to 137.1 as Powell tesimony digested; H3 failure-blow to JP space hopes; "My Number" Use expanded; ...

Mark Chadwick

SBI Sumishin Net Bank Pre-IPO - Revised Forecast and Valuations - RoA or RoE?

SBI Sumishin Net Bank (7163 JP) (SSNB) is now looking to raise around US$380m in its second listing attempt. In this note we talk about our revised...

Sumeet Singh

SBI Sumishin Net Bank Pre-IPO - Refiling Updates - Growth Picks Up

SBI Sumishin Net Bank (SSNB) is now looking to raise around US$380m in its second listing attempt. In this note, we talk about the updates from the...

Sumeet Singh

Good Morning Japan |SPX: Top-Left, Bottom-Right Feb; [email protected] ; JP Baby Crisis; Nugget: CyberAgent

SPX closes Feb on the lows; Baby Crisis in Japan. Toshiba Deal in Doubt; Bullish Calbee Investment Plan; Chinese Real Estate Mkt looking up: +...

Mark Chadwick

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