Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<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. FOLLOW US to keep abreast.
</li>
<li>
OVERSEAS:  Coordinated Fed attack on sentiment tanks market; China locks continues to weigh in; MSFT-Activision-still in play; Aggressive EU taxes on big tobacco</li>
<li>
JAPAN: BOJ takes hit on Bonds; Sony good news - MSFT+Apple; Notable broker downgrades across Autos (Nissan; Subaru) and Softbank; Regulators collusion clamp down on  Japan Advertising firms; Eisai/Biogen -ve 
</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:  Coordinated Fed attack on sentiment tanks market; China locks continues to weigh in; MSFT-Activision-still in play; Aggressive EU taxes on big tobacco

JAPAN: BOJ takes hit on Bonds; Sony good news - MSFT+Apple; Notable broker downgrades across Autos (Nissan; Subaru) and Softbank; Regulators collusion clamp down on  Japan Advertising firms; Eisai/Biogen -ve  



Good Morning Japan | Coordinated Fed "Attack" Tanks Markets; Compounds China Woes

<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. FOLLOW US to keep abreast
</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>
 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!
</li>
<li>
OVERNIGHT:  BETA bid with Commodities &amp;Tech leading; Momentum &amp; Value sold; SOX +15%WoW; China 20-point plan on COVID-19 easing;  FTX Bankruptcy - CEO flees the US. Democrats retain Senate-IRA safe. </li>
<li>
JAPAN:  NKY Futs  -0.5% vs Cash; Further yen strength with USDJPY ¥138.81; Bain to lift JP invest &gt;$40b-focus is Kansai tech cos; No new Softbank buyback; Rakuten losing mobile subs</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!


OVERNIGHT:  BETA bid with Commodities &amp;Tech leading; Momentum &amp; Value sold; SOX +15%WoW; China 20-point plan on COVID-19 easing;  FTX Bankruptcy - CEO flees the US. Democrats retain Senate-IRA safe. 

JAPAN:  NKY Futs  -0.5% vs Cash; Further yen strength with USDJPY ¥138.81; Bain to lift JP invest &gt;$40b-focus is Kansai tech cos; No new Softbank buyback; Rakuten losing mobile subs


Good Morning Japan | Bulls Still in Charge

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>The <a href="https://asia.nikkei.com/Spotlight/Toshiba-in-turmoil/Toshiba-buyout-Japanese-fund-submits-15bn-proposal" target="_blank" rel="noopener">Nikkei Asia</a> reports that JIP has submitted a formal proposal to privatise <a href="https://www.smartkarma.com/entities/toshiba-corp" target="_blank" data-smartkarma-citation="entities:637:1" rel="noopener">Toshiba Corp (6502 JP)</a> for about JPY2.2 trillion (US$15 billion) based on “Toshiba's current share price.” </li>
<li>JIP’s offer is below expectations of around a JPY6,000 bid which is likely driven by the inability to secure sufficient debt financing. JIP remains in negotiations with banks. </li>
<li>While there is a risk that JIP will be unable to improve its offer to secure Board approval, the downside is low as Toshiba/peers' current price ratio is attractive. </li>
</ul>


The Nikkei Asia reports that JIP has submitted a formal proposal to privatise Toshiba Corp (6502 JP) for about JPY2.2 trillion (US$15 billion) based on “Toshiba's current share price.” 
JIP’s offer is below expectations of around a JPY6,000 bid which is likely driven by the inability to secure sufficient debt financing. JIP remains in negotiations with banks. 
While there is a risk that JIP will be unable to improve its offer to secure Board approval, the downside is low as Toshiba/peers' current price ratio is attractive. 


Toshiba (6502 JP): JIP Lobs a Lower-Than-Expected Offer

<ul>
<li>Good Morning Japan: A detailed look at the overnight news and market moves that will impact the trading day in Japan</li>
<li>US rally overnight on mixed employment and hopes of easing of China Covid-19 restrictions. China officials pour cold water these hopes - look for reversal  </li>
<li>Daikin Nikkei Preview - looks weak; Defense stocks likely gets support; SMBC takes that axe to SMBC Nikko CEO  - harsh. </li>
</ul>


Good Morning Japan: A detailed look at the overnight news and market moves that will impact the trading day in Japan
US rally overnight on mixed employment and hopes of easing of China Covid-19 restrictions. China officials pour cold water these hopes - look for reversal  
Daikin Nikkei Preview - looks weak; Defense stocks likely gets support; SMBC takes that axe to SMBC Nikko CEO  - harsh. 


Japan

FANUC CORPORATION manufactures factory automation (FA) systems and equipments, and robots. The Company's products include computerized numerically-controlled (CNC) equipment, servo motors, laser systems, industrial robots, wire-cut electric discharge machines, and CNC drill.  Fanuc participates in a joint venture with General Electric in the FA field.

KOMATSU LTD. manufactures and sells construction and mining machinery, including excavators, bulldozers, and wheel loaders.  The Company, operating on a global scale, also produces forklift trucks and engineering equipment such as press system.

KUBOTA CORPORATION manufactures industrial machinery, farm machinery, and fluid piping systems.  The Company's products include ductile iron pipes, engines, tractors, combine harvesters, reaper binders, rice planters, and excavators.  Kubota also produces forged iron products, housing equipment, and environmental control plants.

SMC CORPORATION manufactures directional control devices such as power, hand, and air valves.  The Company also produces air filters, cylinders, and actuators along with other pneumatic equipment.  SMC seeks to become a comprehensive maker of automated equipment through the market demand of information and communications products.

KOMATSU LTD. manufactures and sells construction and mining machinery, including excavators, bulldozers, and wheel loaders. The Company, operating on a global scale, also produces forklift trucks and engineering equipment such as press system.

KUBOTA CORPORATION manufactures industrial machinery, farm machinery, and fluid piping systems. The Company's products include ductile iron pipes, engines, tractors, combine harvesters, reaper binders, rice planters, and excavators. Kubota also produces forged iron products, housing equipment, and environmental control plants.

EBARA CORPORATION manufactures pneumatic and hydraulic pumps and related equipment.  The Company's products include fuel, oil, water, and firefighting pumps, as well as steam turbines and boilers.  Ebara Corporation also engineers garbage incinerators, smoke desulfurizers, and other products related to environmental technology.

Minebea Mitsumi manufactures and markets miniature and instrument ball bearings.  The Company also makes DC motors, servo motors, stepping motors, spindle motors, pivot assemblies, rod-end and spherical bearings, fasteners, and computer keyboards. Minebea Mitsumi has production facilities in Thailand and Singapore.

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.

DAIFUKU CO., LTD. designs, manufactures, and sells material handling equipment such as automated storage systems, conveyors, and automatic sorters.  The Company's products are used for automation in manufacturing and distribution businesses.

CRRC Corporation Limited manufactures rolling stock products. The Company produces locomotives, passenger carriages, freight wagons, vehicles key components, and other products. CRRC also provides vehicle repairing, investment management, and other services.

Stanley Black & Decker Inc. is a diversified global provider of hand tools, power tools and related accessories, mechanical access and electronic security solutions, healthcare solutions, engineered fastening systems, and more.

Graco Inc. supplies technology for the management of fluids in both industrial and commercial applications.  The Company designs, manufactures, and markets systems to move, measure, control, dispense, and apply fluid materials.  Graco's products are used for applying paints and coatings, high-pressure cleaning of equipment, and lubricating and maintaining vehicles and other equipment.

China CSSC Holdings Ltd. offers shipbuilding, ship components, ship repairing and diesel engines manufacturing. The Company distributes its products within the domestic market and to overseas markets.

Nordson Corporation designs, manufactures, and markets systems that apply adhesives, sealants, and coatings to consumer and industrial products during manufacturing operations.  The Company's products include customized electronic controls for the precise application and curing of materials to meet customers' requirements.  Nordson operates around the world.

China Shipbuilding Industry Company Limited designs, manufactures, sells and leases ship parts.  The Company's products include engines and parts, auxiliay engines and transportation equipment.

Parker-Hannifin Corporation manufactures motion control products, including fluid power systems, electromechanical controls, and related components.  The Company also produces fluid purification, fluid flow, process instrumentation, air conditioning, refrigeration, and electromagnetic shielding and thermal management products.

Cummins India Limited manufactures internal combustion engines, including diesel, reciprocating piston, gas turbine and gasoline engines. The Company also manufactures generating sets and public transport-type passenger motor vehicles, including luxury coaches and air-field buses.  In addition, Cummins India Ltd. operates a computerized and fully-equipped research and development facility.

IDEX Corporation designs, manufactures, and markets a variety of pump products, dispensing equipment, and other engineered products.  The Company's products include industrial pumps, lubrication systems, banding and clamping devices, and rescue tools.  IDEX markets its products to customers in the United States and overseas.

Xylem, Inc. is a designer, manufacturer, equipment and service provider for water and wastewater applications addressing the full-cycle of water from collection, distribution, and use to the return of water to the environment. The Company's products include water and wastewater pumps, treatment and testing equipment, industrial pumps, valves, heat exchangers, and dispensing equipment.

Mitsubishi Heavy Industries, Ltd. is a comprehensive heavy machinery maker. The Company manufactures machinery, ships, turbines and engines, prime movers, aircrafts, and machine parts for military and commercial use.  Mitsubishi Heavy Industries also researches and develops nuclear power plants.

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Mitsubishi Heavy Industries (7011 JP)

Good Morning Japan | Coordinated Fed "Attack" Tanks Markets; Compounds China Woes

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

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

Good Morning Japan | Bulls Still in Charge

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

Toshiba (6502 JP): JIP Lobs a Lower-Than-Expected Offer

While there is a risk that JIP will be unable to improve its offer to secure Board approval, the downside is low as Toshiba/peers' current price...

Arun George

Good Morning Japan (November 7, 2022)

The way to start your Japan trading day. "Good Morning Japan" is a detailed look at the overnight news and market moves that will impact the...

Mark Chadwick

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