Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Trump names including banks, energy and tech rally hard, while renewables are sold heavily</li>
<li>Underperformance by semi-capex plays with high China sales may be reflected in Japan SPE today</li>
<li>Global defense rallied on the spectre of higher spend requirements for EU countries</li>
</ul>


Trump names including banks, energy and tech rally hard, while renewables are sold heavily
Underperformance by semi-capex plays with high China sales may be reflected in Japan SPE today
Global defense rallied on the spectre of higher spend requirements for EU countries


Japan Morning Connection: Trump Names Rally in the Wake of Re-Election

<ul>
<li>New highs for Intuitive Surgical on the success on its Da Vinci surgical robot sets a good tone for Sysmex.</li>
<li>R/E related plays including homebuilders jumping with Blackstone +8% in 2-sessions Thurs/Fri.</li>
<li>Recruit is rapidly running out of buyback bullets, and while it may reload it is priced to perfection and is looking vulnerable to correction.</li>
</ul>


New highs for Intuitive Surgical on the success on its Da Vinci surgical robot sets a good tone for Sysmex.
R/E related plays including homebuilders jumping with Blackstone +8% in 2-sessions Thurs/Fri.
Recruit is rapidly running out of buyback bullets, and while it may reload it is priced to perfection and is looking vulnerable to correction.


Japan Morning Connection: Recruit's 20% ADV Buyback Should Run Out of Bullets Early Nov

<ul>
<li>Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.</li>
<li>Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.</li>
<li>Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.</li>
</ul>


Further PM Ishiba flip-flopping on his previously hawkish rates policy, set to catch markets wrong footed today.
Homebuilders may face a bigger fallout than expected from hurricane Helene given the potential to squeeze margins as materials and workers are prioritized for emergency efforts.
Exporters including autos, R/E and tourism related names should see renewed interest on the weak yen.


Japan Morning Connection: Exporters to Jump on the Weak Yen

<ul>
<li>Profit taking hit tech/semi's as tensions rapidly escalate in the Middle East, causing defense and oil related names to move higher</li>
<li>NEC remains overlooked as a defence play in Japan despite the MoD's growing for budget for electronic warfare and satellite defence capabilities</li>
<li>Renewables in the US are leading the way YTD, although Japan is far behind the curve despite PM Ishiba being a pro wind/solar and hawkish towards nuclear.</li>
</ul>


Profit taking hit tech/semi's as tensions rapidly escalate in the Middle East, causing defense and oil related names to move higher
NEC remains overlooked as a defence play in Japan despite the MoD's growing for budget for electronic warfare and satellite defence capabilities
Renewables in the US are leading the way YTD, although Japan is far behind the curve despite PM Ishiba being a pro wind/solar and hawkish towards nuclear.


Japan Morning Connection: NEC Overlooked as a Defence Play

<ul>
<li>Plenty of Ishiba trades to pickup this morning after yesterday's panic.</li>
<li>Defence related saw some initial profit taking after pricing in some gains, but KHI and NEC remain attractive on the long side.</li>
<li>Selective Inbound tourism, domestic revitalization, and China plays should snap back fairly quickly with Ishiba unlikely to upset voters ahead of elections.</li>
</ul>


Plenty of Ishiba trades to pickup this morning after yesterday's panic.
Defence related saw some initial profit taking after pricing in some gains, but KHI and NEC remain attractive on the long side.
Selective Inbound tourism, domestic revitalization, and China plays should snap back fairly quickly with Ishiba unlikely to upset voters ahead of elections.


Japan Morning Connection: Selective Rebound Expected After Yesterday's Panic

Japan

Kawasaki Heavy Industries, Ltd. designs, develops, and manufactures transport equipment and industrial heavy machinery for military and commercial use.  The Company produces ships, railroad cars, aircraft engines and parts, hydraulic and gas turbines, submarine engines, boilers, and industrial robots.  Kawasaki Heavy Industries offers engineering and construction services to industrial plants.

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Kawasaki Heavy Industries (7012 JP)

Japan Morning Connection: Trump Names Rally in the Wake of Re-Election

Trump names rally while renewables sold heavily. Underperformance by semi-capex with high China sales may reflect in Japan SPE. Global defense...

Andrew Jackson

Japan Morning Connection: Recruit's 20% ADV Buyback Should Run Out of Bullets Early Nov

Intuitive Surgical's success with Da Vinci robot sets good tone for Sysmex; R/E related surge with Blackstone; Recruit's buyback potential may be...

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Japan Morning Connection: NEC Overlooked as a Defence Play

Middle East tensions cause defense/oil stocks to rise; NEC undervalued in Japan defense sector; US leads in renewables, Japan lags behind despite...

Andrew Jackson

Japan Morning Connection: Selective Rebound Expected After Yesterday's Panic

Opportunities in Ishiba trades this morning, particularly in defence-related stocks, inbound tourism, domestic revitalization, and China plays.

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Trump Names Rally in the Wake of Re-Election

Trump names rally while renewables sold heavily. Underperformance by semi-capex with high China sales may reflect in Japan SPE. Global defense...

Andrew Jackson

Japan Morning Connection: Recruit's 20% ADV Buyback Should Run Out of Bullets Early Nov

​Intuitive Surgical's success with Da Vinci robot sets good tone for Sysmex; R/E related surge with Blackstone; Recruit's buyback potential may be...

Andrew Jackson

Japan Morning Connection: Exporters to Jump on the Weak Yen

​PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...

Andrew Jackson

Japan Morning Connection: NEC Overlooked as a Defence Play

Middle East tensions cause defense/oil stocks to rise; NEC undervalued in Japan defense sector; US leads in renewables, Japan lags behind despite...

Andrew Jackson

Japan Morning Connection: Selective Rebound Expected After Yesterday's Panic

Opportunities in Ishiba trades this morning, particularly in defence-related stocks, inbound tourism, domestic revitalization, and China plays.

Andrew Jackson

Intuitive Surgical's success with Da Vinci robot sets good tone for Sysmex; R/E related surge with Blackstone; Recruit's buyback potential may be...

PM Ishiba's policy shift could surprise markets, hurricane Helene may impact homebuilders more than expected, and exporters such as autos and...