The Point for Asia Pacific

研报英文原文证据摘录

The Point for Asia Pacific

Point |

Friday, 24 July 2026

Top Call | Country Top Calls

Top Call

JX Advanced Metals (5016.T) - Announces expansion of downstream processing

capacity for target materials in South Korea

On the morning of July 23, JX Advanced Metals announced plans to expand

downstream processing (fabrication processes) for semiconductor sputtering

targets at its South Korean facility. We expect operations to begin in phases from

FY3/28 H2, with processing capacity at this facility approximately doubling

compared to FY3/26. The company will invest c¥4bn. While this expansion does

not appear to be targeted at specific product types, we expect an increase in

copper-manganese products for HBM applications. The company has upstream

production systems (melting/heat treatment processes) in Japan (Isohara Plant,

Hitachi-Kita Plant, Hitachinaka New Plant) and downstream production systems

(fabrication processes) in Japan, South Korea, Taiwan, and the US. We believe

demand from South Korean memory manufacturers is extremely strong, meaning

the firm has needs to make shipments from other facilities to keep up. Capacity

expansions and automation investments are currently underway at each of the

firm’s upstream and downstream facilities.

Yuta Nishiyama

Intel Corp (INTC.O) - 2Q26 Earnings Quick Take: Beat-and-Raise

INTC reported the strongest revenue growth in more than 15 years, with Jun-Q

results and Sep-Q outlook well above consensus driven by DCAI. Intel foundry

appears to be gaining momentum as well. We are awaiting commentary on the

earnings call at 5 pm ET.

Atif Malik

LS Electric (010120.KS) - Buy on 2Q26 Results Beat & More Ambitious Company

Targets

We raise our LS Electric 2026-28E net profits by 9-13%, factoring in higher