Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>Nidec may be back in focus on a lifeline for SMCI and heating issues for NVDA.</li>
<li>Tesla and power-semis are both up on the self-driving U-turn.</li>
<li>No bid for JP SPE's recently, although Lasertec may still have further to fall.</li>
</ul>


Nidec may be back in focus on a lifeline for SMCI and heating issues for NVDA.
Tesla and power-semis are both up on the self-driving U-turn.
No bid for JP SPE's recently, although Lasertec may still have further to fall.


Japan Morning Connection: JP Set for a More Upbeat Start After Tech Rebound

<ul>
<li>AMAT numbers sends US SPE lower on Friday which should spill over into Japan.</li>
<li>Trump's Energy Secretary nomination may be a short term positive for oil and gas related, longer-term questionable.</li>
<li>Both Ibiden and Renesas have potential to be rerated on their NVDA exposure, but market indifferent so far.</li>
</ul>


AMAT numbers sends US SPE lower on Friday which should spill over into Japan.
Trump's Energy Secretary nomination may be a short term positive for oil and gas related, longer-term questionable.
Both Ibiden and Renesas have potential to be rerated on their NVDA exposure, but market indifferent so far.


Japan Morning Connection: Potential for Ibiden and Renesas to Be Seen as NVDA Plays

<ul>
<li>Further tech weakness in the US as markets brace for a more inflationary outlook.</li>
<li>Isetan Mitsukoshi numbers and new MTP should end recent underperformance.</li>
<li>Excessive Nintendo weakness on PIF cutting holdings a chance to buy ahead of new NSW announcement.</li>
</ul>


Further tech weakness in the US as markets brace for a more inflationary outlook.
Isetan Mitsukoshi numbers and new MTP should end recent underperformance.
Excessive Nintendo weakness on PIF cutting holdings a chance to buy ahead of new NSW announcement.


Japan Morning Connection: Softbank Further Consolidating Its AI Focus

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.

Equity Capital Markets

Kansai Electric Power / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/kansai-electric-power-co-inc" target="_blank" rel="noopener">Kansai Electric Power (9503 JP)</a> has announced primary and secondary offerings of up to 223.1 million shares (including overallotment) and a third-party allotment of 29.1 million shares.</li>
<li>JPY239.9 billion of proceeds will be used to improve energy efficiency and decarbonisation, while other funds will be used for data centres, renewable energy and overseas investments.</li>
<li>Looking at recent large Japanese placements is instructive for understanding the potential offer price. The pricing date will fall between 26 and 29 November (likely 26 November).</li>
</ul>



Kansai Electric Power (9503 JP) has announced primary and secondary offerings of up to 223.1 million shares (including overallotment) and a third-party allotment of 29.1 million shares.
JPY239.9 billion of proceeds will be used to improve energy efficiency and decarbonisation, while other funds will be used for data centres, renewable energy and overseas investments.
Looking at recent large Japanese placements is instructive for understanding the potential offer price. The pricing date will fall between 26 and 29 November (likely 26 November).


Kansai Electric Power (9503 JP): A US$3.5 Billion Primary/Secondary Offering

<ul>
<li>US markets continue to pivot away from recent tech winners with a continued focus on Trump names.</li>
<li>Monolithic Power sold heavily on concerns it will lose NVDA mkt share to Renesas.</li>
<li>Will good numbers be enough for Recruit to break higher without more buybacks?</li>
</ul>


US markets continue to pivot away from recent tech winners with a continued focus on Trump names.
Monolithic Power sold heavily on concerns it will lose NVDA mkt share to Renesas.
Will good numbers be enough for Recruit to break higher without more buybacks?


Japan Morning Connection: Expect Japan to Reflect the US Pivot from Growth to Value

Japan

Renesas Electronics Corporation researches, develops, designs and manufactures electronic components such as semiconductors and integrated devices.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Renesas Electronics (6723 JP)

Japan Morning Connection: JP Set for a More Upbeat Start After Tech Rebound

Nidec may be in focus on a lifeline for SMCI and NVDA's heating issues, Tesla and power-semis up on self-driving support, no bid for JP SPE's and...

Andrew Jackson

Japan Morning Connection: Potential for Ibiden and Renesas to Be Seen as NVDA Plays

AMAT numbers impact US SPE which should effect in Japan, Trump's Energy Secretary nomination may benefit oil/gas short term, Ibiden and Renesas...

Andrew Jackson

Japan Morning Connection: Softbank Further Consolidating Its AI Focus

Tech weaknes continues in the US, new numbers from Isetan Mitsukoshi should end recent underperformance and Nintendo weakness offer opportunities...

Andrew Jackson

Kansai Electric Power (9503 JP): A US$3.5 Billion Primary/Secondary Offering

Looking at recent large Japanese placements is instructive for understanding the potential offer price. The pricing date will fall between 26 and...

Arun George

Japan Morning Connection: Expect Japan to Reflect the US Pivot from Growth to Value

US markets continue to shift focus from tech winners to Trump names, Monolithic Power sold on NVDA market share concerns, can Recruit break higher...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: JP Set for a More Upbeat Start After Tech Rebound

​Nidec may be in focus on a lifeline for SMCI and NVDA's heating issues, Tesla and power-semis up on self-driving support, no bid for JP SPE's and...

Andrew Jackson

Japan Morning Connection: Potential for Ibiden and Renesas to Be Seen as NVDA Plays

​AMAT numbers impact US SPE which should effect in Japan, Trump's Energy Secretary nomination may benefit oil/gas short term, Ibiden and Renesas...

Andrew Jackson

Japan Morning Connection: Softbank Further Consolidating Its AI Focus

Tech weaknes continues in the US, new numbers from Isetan Mitsukoshi should end recent underperformance and Nintendo weakness offer opportunities...

Andrew Jackson

Kansai Electric Power (9503 JP): A US$3.5 Billion Primary/Secondary Offering

Looking at recent large Japanese placements is instructive for understanding the potential offer price. The pricing date will fall between 26 and...

Arun George

Japan Morning Connection: Expect Japan to Reflect the US Pivot from Growth to Value

​US markets continue to shift focus from tech winners to Trump names, Monolithic Power sold on NVDA market share concerns, can Recruit break higher...

Andrew Jackson

Nidec may be in focus on a lifeline for SMCI and NVDA's heating issues, Tesla and power-semis up on self-driving support, no bid for JP SPE's and...

AMAT numbers impact US SPE which should effect in Japan, Trump's Energy Secretary nomination may benefit oil/gas short term, Ibiden and Renesas...

US markets continue to shift focus from tech winners to Trump names, Monolithic Power sold on NVDA market share concerns, can Recruit break higher...