Japaninvest - Independent Japanese Equity Research

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Recent news

22/12/08Until now Japaninvest has operated with two ratings BUY and SELL. Both require a minimum 15% move on an absolute rather than relative basis. If there has been reason to change our view such that the required upside or downside is no longer present, then the analyst has published a "Rating Withdrawn" note. Feedback has suggested to us that there is some confusion amongst our client base that coverage may be dropped at the same time as the rating is withdrawn. This is not the case, and where coverage has been dropped a "coverage dropped" notification will go out. However in view of the feedback we have received we have decided to replace "Rating Withdrawn" with "Neutral", for the avoidance of doubt.
12/12/08Japaninvest is pleased to announce that Steve Myers will be joining in January 2009 to cover the technology sector. Steve Myers has 25 years of industry experience, gained first at Intel and, subsequently , as an analyst at Jardine Fleming from 1987-2001. Steve Myers most recently covered technology stocks at Lehman Brothers and HSBC.
10/12/08Yanagisawa-san, Japaninvest's small cap analyst was number one ranked in a recent Fuji Sankei poll for her recommendation on Culture Convenience Club, topping analysts from global and Japanese houses as well as other boutiques.
4/12/08Japaninvest has arranged a series of one on one calls for clients with Nihon Koden to discuss recent business developments.
25/11/08Japaninvest has arranged a series of one on one calls for clients with Credit Saison to discuss recent business developments.
17/11/08Japaninvest has arranged a series of one on one calls for clients with Shimachu to discuss recent business developments.
6/11/08IND-X is proud to be sponsoring TradeTech Asia, 2008, the 5th annual Asian institutional equity trading conference in Singapore.
4/11/08Japaninvest has arranged a series of one on one calls for clients with Izumi to discuss recent business developments.
31/10/08Japaninvest has arranged a series of one on one calls for clients with Chiyoda Shoe to discuss recent business developments.
7/10/08Mark Brown, Japaninvest's Real Estate analyst is marketing to clients in the US and UK.
5/10/08Japaninvest is neutral on Japanese equities for Q4. We have revised our TPX target to 1000 from 1250. Our forecasts for recessions in the US (made in Q4 07) and Eurozone (made Q1 08) are now consensus. We see significant downside risk in China. In Japan we see significant 2H profit risk, especially in non manufacturing. We continue to expect commodities to cool and revise our oil price target from $100 (Q3) to $75 (Q4). We continue to believe that the dollar has fundamentally turned, and will recover on a multi year basis from here.
3/10/08IND-X, the independent broker neutral execution platform majority owned by Japaninvest has made very good progress during H1 2008, despite weak markets. Industry leading CSA commission management software (PORT) and strong execution performance (according to independent TCA analysis) has attracted 10 IRPs to its membership scheme, with approximately 30 research providers now being paid through the PORT system, including Japaninvest. There are more than 20 buyside institutions using IND-X's execution capability across the spectrum of EU and Asian developed markets. 10 execution brokers provide algorithms or DMA access on the IND-X panel. Trading is live time from offices in London and Hong Kong.
1/10/08Japaninvest is pleased to announce that Adrian Gornall has joined our Japan sales team, based in our Hong Kong office. Adrian has spent 13 years in Japanese equities, most recently at CLSA.
30/09/08Japaninvest has arranged a series of one on one calls for clients with Fuyo General Lease to discuss recent business developments.
29/09/08Japaninvest has arranged a series of one on one calls for clients with Culture Convenience Club to discuss recent business developments.
11/09/08Japaninvest has arranged a series of one on one calls for clients with Daito Trust, to discuss recent business developments
4/09/08Japaninvest is pleased to announce that Chris Newton is joining the Japan sales desk in London. Chris has 20 years experience selling Japanese equities at JPM and HSBC.
3/09/08Steve Usher - Japaninvest autos analyst, marketing to clients on the US East Coast.
2/09/08Japaninvest has arranged a series of one on one calls for clients with Atrium, to discuss the ongoing difficulties in the real estate market
1/08/08Japaninvest publishes 48 rated notes during Q2 including 13 initiations. 71% BUY 29% SELL. JI research also published 42 research updates. The analyst team is now the largest since JI commenced operations in 2003.
16/07/08Q3 Macro strategy: US dollar to begin multi year recovery, oil to fall to USD 100. "H2 2008 is likely to see actual recession spread to the UK and in all probability to the Eurozone. Growth in Asia is likely to slow sharply. For Japan this brings two significant benefits and they need to be factored in: The US dollar starts to pick up and the market for commodities starts to cool, with oil dropping below $100."
15/07/08Japaninvest is pleased to announce that Mikihiko Yamato has joined our Tokyo research department to cover the retail sector. Fully bilingual, Yamato gained his MBA in the US and spent 6 years in Japanese equity research at global houses before joining the buy side as a hedge fund analyst. JI's Tokyo research team now the largest it has been since the business started in 2003.
1/06/08IND-X Securities Limited is pleased to announce that IND-X Securities (Asia) Ltd has been licensed by the Securities and Futures Commission of Hong Kong. The launch of IND-X’s “live time” execution service and commission management service, PORT, in the Asian region will significantly enhance its current UK, Europe and Japanese equity execution platforms.
1/05/08Ken Gordon (QI Crossborder) marketing to clients in Japan and Australia.
1/05/08Steve Usher (Japaninvest autos analyst) marketing to clients in Singapore and Hong Kong.
1/05/08IND-X commences trading in UK equities.
1/04/08Bruno Ferrant (Japaninvest pharma/healthcare analyst) marketing to clients in the US and EU.
1/04/08Steve Usher (Japaninvest autos analyst) marketing to clients on US west coast.
1/04/08William Nestuk (Japaninvest auto parts analyst) marketing to clients in the US.
1/04/08IND-X opens Hong Kong Office.
1/03/08Nihon Nohyaku management conference call with Japaninvest clients in the EU and Asia.
1/03/08Brian Waterhouse (Japaninvest Banks analyst) marketing to clients in the EU and US.
1/03/08Japaninvest publishes 54 rated notes during Q1, including 15 initiations. 62% BUY 38% SELL.
1/03/08Danny Holder (former senior dealer for Dalton Strategic Partners) appointed CEO of IND-X Securities (Asia) Ltd.
1/02/08Justin Weiss (Japaninvest Internet / Electronic Retailer analyst) marketing to clients in the US.
1/01/08Yanagisawa-san (Japaninvest small caps analyst) marketing to clients in the US.
1/01/08Japaninvest launches Quant subsidiary QI Crossborders.
1/12/07IND-X commission management software platform PORT becomes operational.
1/11/07IND-X Securities launched.
1/10/07Tony Moyer joins Japaninvest in Tokyo to cover machinery sector.
1/10/07Shiro Yoshioka joins Japaninvest in Tokyo to cover financials and non banks.
1/09/07Japaninvest COO Mark Burges Watson letter to the Financial Times
1/08/07Takeshi Shima joins Japaninvest as a senior institutional salesperson in Tokyo.
1/08/07Peter Twist appointed CEO of IND-X Securities Ltd.
1/06/07Peter Twist joins Japaninvest as a Director of New Business Development.
1/05/07Megumi Takayama joins Japaninvest as an institutional salesperson in London.

Our regulators

Japaninvest is a registered broker-dealer in the United States of America. In the United Kingdom we are authorised and regulated by the Financial Services Agency (reg no 219918). In Japan we are registered with the FSA as a Non Discretionary Investment Adviser. IND-X is authorised and regulated in the United Kingdom by the Financial Services Authority and in Hong Kong by the SFA (pending final documentation).

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