Japanese Equity Specialist, Ortus Advisors

Andrew Jackson

Japanese Equity Specialist

Ortus Advisors

Thematic (Sector/Industry)

<ul>
<li>TSMC gains largely failed to buoy the US SPE names, with many continuing to drop setting a similar tone for Japan peers.</li>
<li>Travelers +9% on better than expected earnings and less Hurricane impact will continue to help the JP non-life.</li>
<li>Sumitomo Forestry has corrected significantly and now looks ready to rebound and join its US peers hovering close to their all-time highs.</li>
</ul>


TSMC gains largely failed to buoy the US SPE names, with many continuing to drop setting a similar tone for Japan peers.
Travelers +9% on better than expected earnings and less Hurricane impact will continue to help the JP non-life.
Sumitomo Forestry has corrected significantly and now looks ready to rebound and join its US peers hovering close to their all-time highs.


Japan Morning Connection: Mixed Reaction to TSMC Gains, Sumitomo Forestry Ready to Rebound

<ul>
<li>US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.</li>
<li>Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.</li>
<li>Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.</li>
</ul>


US semis and tech related setting a bullish tone for JP SPE with NVDA closing at record highs.
Steep drop for oil to hit Japex, Index and refiners while US P&amp;C strength should also be reflected in JP peers.
Possible downside for Fujitsu with NTT Docomo announcing a pivot away from their base station equipment.


Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

<ul>
<li>Tech largely down in the US after AMD's AI event failed to impress with somewhat conflicting CPI and jobless data.</li>
<li>A strong print for Fast Retailing will add to short-seller woes although some brokers have started cutting estimates after the outsized move.</li>
<li>7&amp;I announced a flurry of restructuring initiatives aimed at raising corporate value and fending off Couche-Tard before its too late.</li>
</ul>


Tech largely down in the US after AMD's AI event failed to impress with somewhat conflicting CPI and jobless data.
A strong print for Fast Retailing will add to short-seller woes although some brokers have started cutting estimates after the outsized move.
7&amp;I announced a flurry of restructuring initiatives aimed at raising corporate value and fending off Couche-Tard before its too late.


Japan Morning Connection: 7&I Continues Restructuring Plan

<ul>
<li>Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.</li>
<li>Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.</li>
<li>Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.</li>
</ul>


Risk on sentiment takes hold ahead of key CPI print tomorrow; yen weakness will drive the NKY higher.
Big gains for Japanese department store duty-free sales over the Chinese Golden week holiday bodes well for the likes of Isetan Mitsukoshi.
Cat 5 Hurricane Milton making landfall should put further pressure on the JP non-life/P&amp;C plays Sompo, MS&amp;AD and Tokio Marine.


Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

<ul>
<li>NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.</li>
<li>Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.</li>
<li>HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.</li>
</ul>


NVDA lifts markets on comments from Hon Hai Chairman that demand for Blackwell was 'crazy'.
Oil related names in JP will follow US lower on the drop in oil, despite Hurricane Milton having the potential to disrupt production.
HK futures finding off the lows overnight should point to upside for related China names in Japan to start; Gamers to be sold heavily after PIF sale.


Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

Japan

Sumitomo Forestry Co., Ltd. sells lumber and wood-related construction materials.  The Company constructs and markets a variety of homes, including custom-built wooden houses, and also manufactures and distributes high-value added wood-based products.  Sumitomo Forestry also maintains a significant amount of Japan's forests.

Price Gauge
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Sumitomo Forestry (1911 JP)

Japan Morning Connection: Mixed Reaction to TSMC Gains, Sumitomo Forestry Ready to Rebound

TSMC gains failed to buoy SPE names. Travelers up 9% on better than expected earnings, continuing to help non-life. Sumitomo Forestry looks ready...

Andrew Jackson

Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

US semiconductors and tech related setting a bullish tone for JP SPE. Steep drop in oil to hit Japex, Index and refiners. Fujitsu may face downside...

Andrew Jackson

Japan Morning Connection: 7&I Continues Restructuring Plan

Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Japan Morning Connection: Mixed Reaction to TSMC Gains, Sumitomo Forestry Ready to Rebound

​TSMC gains failed to buoy SPE names. Travelers up 9% on better than expected earnings, continuing to help non-life. Sumitomo Forestry looks ready...

Andrew Jackson

Japan Morning Connection: US Semis and Tech Set a Bullish Tone for Japan's SPE Majors

US semiconductors and tech related setting a bullish tone for JP SPE. Steep drop in oil to hit Japex, Index and refiners. Fujitsu may face downside...

Andrew Jackson

Japan Morning Connection: 7&I Continues Restructuring Plan

​Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Andrew Jackson

Japan Morning Connection: Risk-On Sentiment and Yen Weakness to Drive the NKY Higher

​Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...

Andrew Jackson

Japan Morning Connection: HK Futures off the Lows Should Point to Upside for China Related Names

NVDA +4.1% on comments from Hon Hai that demand for Blackwell chips was ‘crazy’, Oil related will follow US lower, HK futures off the lows should...

Andrew Jackson

TSMC gains failed to buoy SPE names. Travelers up 9% on better than expected earnings, continuing to help non-life. Sumitomo Forestry looks ready...

Tech down in the US after conflicting CPI and jobless data, Fast Retailing's strong print beat streat estimates, 7&I announced further plans to...

Risk on sentiment ahead of CPI print and yen weakness to drive up NKY, gains during Chinese Golden week bode well for Isetan Mutsukoshi, Cat 5...