J.P. Morgan Japan FTM 17 Jul 26 AI bubble narrative cyclically fading; Seven & i negotiating stake in Zabka; Electronic components production; Eisai briefing; Nippon Paint briefing; Kawasaki Kisen tours and More

研报英文原文证据摘录

J.P. Morgan Japan FTM 17 Jul 26 AI bubble narrative cyclically fading; Seven & i negotiating stake in Zabka; Electronic components production; Eisai briefing; Nippon Paint briefing; Kawasaki Kisen tours and More

Asia Pacific Equity Research

Due to market closures, there will be no publication of Japan First to Market on 20 July. Publication resumes

on 21 July.

Japan First to Market 17 July 2026

Top Stories

Japan Quant Strategy (Masanari Takada)

“AI bubble” narrative cyclically fading – Momentum recovery timeline being pushed back, but is it

just a matter of timing?

Volatile price movements in AI-related stocks continue to weigh on the upward momentum of Japanese stocks. Today (July 16),

the Nikkei Average retreated to the 66,600 level, as profit-taking pressure from the cash equity side acted as a headwind. The

weakness in Japanese semiconductor-related stocks was particularly apparent during Asian trading hours, as they continued

to show a strong correlation with South Korean stocks.

Zabka and Seven & i (Elena Jouronova, CFA/Dairo Murata)

We see potential acquisition of an equity stake in Zabka by Seven & i as a win-win if confirmed.

According to Japanese Nikkei, Seven & i (N, covered by Dairo Murata) has reportedly entered the final phase of negotiations to

acquire an equity stake in Zabka (N, covered by Elena Jouronova). Press reports suggest the talks contemplate the purchase

of “several dozen percent” of the shares, with the investment potentially reaching “several hundred billion yen” in value. In the

absence of any official confirmation or additional details at this stage, we highlight the following considerations.

Electronic Components Sector (Akinori Kanemoto)

Component Data Deposition: METI production statistics (electronic components, semiconductors)