Japan Specialist

Mark Chadwick

Thematic (Sector/Industry)

<ul>
<li>OVERSEAS: SPX snapp rally;  Eearnings refocus as GS misses; Tech bid continues;  TELSA +7% as analysts see merits of price cuts; Japan's BOJ in focus. </li>
<li>JAPAN: NKY Futs +0.4% vs Cash; USDJPY flat at 129.16. BOJ Day -this is all that matters. </li>
<li>DAILY NUGGET: Sustainable Aviation Fuel thematic is ramping up. ANA and JAL recent annoucements highlight the commercial potential for the supply chain. </li>
</ul>


OVERSEAS: SPX snapp rally;  Eearnings refocus as GS misses; Tech bid continues;  TELSA +7% as analysts see merits of price cuts; Japan's BOJ in focus. 
JAPAN: NKY Futs +0.4% vs Cash; USDJPY flat at 129.16. BOJ Day -this is all that matters. 
DAILY NUGGET: Sustainable Aviation Fuel thematic is ramping up. ANA and JAL recent annoucements highlight the commercial potential for the supply chain. 


Good Morning Japan |Rally Sputters as Earnings in Focus; GS Misses; BOJ - DAY OF RECKONING

<ul>
<li>OVERSEAS: SPX +0.4%DoD +2.7%WoW; Semi run continues with SOX +0.4%DoD +6.2%WoW; Beta and Growth the big WoW winners;  Fed's Bostic leans to 25bp hike; Tesla cuts prices</li>
<li>JAPAN:  NKY Futs -1.3% vs Cash;  JGB 10Yr Yld hits 0.512% despite BOJ 10trn yen buying; USDJPY up to127.87;  DECARBONIZATION: Resonac (Showa Denko) expansion; Toray  expansion; METI CCS roadmap</li>
<li>DAILY NUGGET: Slowing EV sales in China ? Maybe, but its still the largest EV market in the world. We see Nidec as the best way to play.</li>
</ul>


OVERSEAS: SPX +0.4%DoD +2.7%WoW; Semi run continues with SOX +0.4%DoD +6.2%WoW; Beta and Growth the big WoW winners;  Fed's Bostic leans to 25bp hike; Tesla cuts prices
JAPAN:  NKY Futs -1.3% vs Cash;  JGB 10Yr Yld hits 0.512% despite BOJ 10trn yen buying; USDJPY up to127.87;  DECARBONIZATION: Resonac (Showa Denko) expansion; Toray  expansion; METI CCS roadmap
DAILY NUGGET: Slowing EV sales in China ? Maybe, but its still the largest EV market in the world. We see Nidec as the best way to play.


Good Morning Japan |Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px; BOJ in Focus

Pan-Asia Catalysts/Events, Quiddity Advisors

Travis Lundy

Pan-Asia Catalysts/Events

Quiddity Advisors

Event-Driven

Shinko Electric Industries / Event-Driven

<ul>
<li>Three years ago I wrote <a href="https://www.smartkarma.com/insights/fujitsu-subsidiary-selldowns-or-buy-ins" target="_blank" data-smartkarma-citation="insights:35032" rel="noopener">Fujitsu Subsidiary Selldowns or Buy-Ins?</a> My choice then was Fujitsu Frontech which was bought out 8 months later. </li>
<li>A Bloomberg article today with quotes from an interview with the CEO of Fujitsu fuelled some movement today. </li>
<li>The "obvious" trade is <a href="https://www.smartkarma.com/entities/shinko-electric-industries" target="_blank" data-smartkarma-citation="entities:15066:1" rel="noopener">Shinko Electric Industries (6967 JP)</a> but you have to buy the new dream.</li>
</ul>


Three years ago I wrote Fujitsu Subsidiary Selldowns or Buy-Ins? My choice then was Fujitsu Frontech which was bought out 8 months later. 
A Bloomberg article today with quotes from an interview with the CEO of Fujitsu fuelled some movement today. 
The "obvious" trade is Shinko Electric Industries (6967 JP) but you have to buy the new dream.


Fujitsu (6702) Subsidiary Selldowns To Come

<ul>
<li>We highlight five stocks that we have talked about in the past year</li>
<li>We continue to like small cap GROWTH and we think that decarbonization will remain a key thematic</li>
<li>NEC is a standout value name where we see a potential catalyst over the coming year in Open RAN</li>
</ul>


We highlight five stocks that we have talked about in the past year
We continue to like small cap GROWTH and we think that decarbonization will remain a key thematic
NEC is a standout value name where we see a potential catalyst over the coming year in Open RAN


<ul>
<li>OVERSEAS:  2 Day SPX gain +2.2% (Japan view; Tech leads SOX 2-Day +6.7%; Metals rally on  China normalization  Slower wage growth + falling Used Car prices supports slower Fed hikes</li>
<li>JAPAN:  NKY Futs +0.8% vs Cash; USDJPY ¥131.89;  Looking for strong Tech/SPE (SOX) + Commodities (China) bid to start; Go-To-Travel resumes; Continued strong news flow on #Decarbonization spending.</li>
<li>DAILY NUGGET:  Afeela - a winner ? Get used to it. This is the first result of the Sony Honda Mobillity JV.  </li>
</ul>


OVERSEAS:  2 Day SPX gain +2.2% (Japan view; Tech leads SOX 2-Day +6.7%; Metals rally on  China normalization  Slower wage growth + falling Used Car prices supports slower Fed hikes
JAPAN:  NKY Futs +0.8% vs Cash; USDJPY ¥131.89;  Looking for strong Tech/SPE (SOX) + Commodities (China) bid to start; Go-To-Travel resumes; Continued strong news flow on #Decarbonization spending.
DAILY NUGGET:  Afeela - a winner ? Get used to it. This is the first result of the Sony Honda Mobillity JV.  


Good Morning Japan |Stealth Bull Market ? Friday's CPI Print in Focus

Japan

Panasonic Corporation manufactures electric and electronic products. The Company produces home appliances, car navigation systems, digital devices, computer peripherals, telecommunications, industrial equipment, and electronic parts. Panasonic has associated companies around the world.

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Panasonic Corp (6752 JP)

Good Morning Japan |Rally Sputters as Earnings in Focus; GS Misses; BOJ - DAY OF RECKONING

NKY Futs +0.4% vs Cash; USDJPY flat at 129.16. BOJ Day -this is all that matters Sustainable Aviation Fuel thematic is ramping up. Big...

Mark Chadwick

Good Morning Japan |Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px; BOJ in Focus

Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px (positive Panasonic); BOJ in Focus. Expect the BOJ to lift JGB buying and do what...

Mark Chadwick

Fujitsu (6702) Subsidiary Selldowns To Come

A Bloomberg article on Fujitsu selling non-core subs was out today. Nothing new, but there is some nuance. I present a small review, and conclude...

Travis Lundy

Five Japanese Stocks to Watch in 2023

We highlight 5 Japanese companies that investors should watch in 2023. We continue to see investment opportunities under the theme of decarbonization

Mark Chadwick

Good Morning Japan |Stealth Bull Market ? Friday's CPI Print in Focus

HAPPY NEW YEAR ! NKY Futs +0.8% vs Cash; USDJPY ¥131.89; Looking for strong Tech/SPE (SOX) + Commodities (China) bid to start; Continued strong...

Mark Chadwick

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52-week Range

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Good Morning Japan |Rally Sputters as Earnings in Focus; GS Misses; BOJ - DAY OF RECKONING

NKY Futs +0.4% vs Cash; USDJPY flat at 129.16. **BOJ Day -this is all that matters** Sustainable Aviation Fuel thematic is ramping up. Big...

Mark Chadwick

Good Morning Japan |Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px; BOJ in Focus

Fed 1 Inflation 0, Fed Wins; Equity Bid Continues; Telsa Cuts Px (positive Panasonic); BOJ in Focus. Expect the BOJ to lift JGB buying and do what...

Mark Chadwick

Fujitsu (6702) Subsidiary Selldowns To Come

A Bloomberg article on Fujitsu selling non-core subs was out today. Nothing new, but there is some nuance. I present a small review, and conclude...

Travis Lundy

Five Japanese Stocks to Watch in 2023

We highlight 5 Japanese companies that investors should watch in 2023. We continue to see investment opportunities under the theme of decarbonization

Mark Chadwick

Good Morning Japan |Stealth Bull Market ? Friday's CPI Print in Focus

HAPPY NEW YEAR ! NKY Futs +0.8% vs Cash; USDJPY ¥131.89; Looking for strong Tech/SPE (SOX) + Commodities (China) bid to start; Continued strong...

Mark Chadwick

NKY Futs +0.4% vs Cash; USDJPY flat at 129.16. BOJ Day -this is all that matters Sustainable Aviation Fuel thematic is ramping up. Big...