J.P. Morgan Japan FTM 28 May 26 Japan Quant Strategy; Accident at Nippon Paper Industries US subsidiary; SG Holdings meeting; Daiichi Life Group briefing; Nintendo update; Morinaga Milk Industry update and More

研报英文原文证据摘录

J.P. Morgan Japan FTM 28 May 26 Japan Quant Strategy; Accident at Nippon Paper Industries US subsidiary; SG Holdings meeting; Daiichi Life Group briefing; Nintendo update; Morinaga Milk Industry update and More

Asia Pacific Equity Research

Japan First to Market 28 May 2026

Top Stories

Japan Quant Strategy (Masanari Takada)

Momentum’s remarkable resilience: Market sees a productivity improvement scenario that is more

than double the pace achieved over the past 40 years

Resilient Momentum effects in the global market: In the current global equity market, the dominance of AI/semiconductor-

related stocks is once again evident. Following last week’s interest rate hikes in developed countries, some AI/semiconductor-

related stocks showed signs of falling back, and a momentum crash was observed in the Japanese market. However, the

impact of this correction has been short-lived, and with dip-buying gaining traction over the reduction of positions in seemingly

overvalued, overheated stocks, upward momentum has actually intensified.

Nippon Paper Industries Corp (3863) (Akiko Kuwahara) (3863 JP, UW)

Multiple media reports of accident at US subsidiary’s plant

On May 26 (US time), several US media outlets, such as The New York Times, CBS, and CTV, reported that a chemical tank

imploded at the Longview plant (Washington state) of Nippon Dynawave Packaging (NDP), a US subsidiary of Nippon Paper

Industries. According to a CTV report, local emergency responders announced that in addition to multiple injured people, there

was one fatality and others missing due to the accident. First of all, we would like to express our sympathy to those affected by

the accident. At this point, we are unable to confirm the news with Nippon Paper, but assuming it is true, our view is as follows.