With their "Japanese First" slogan, riffing off US President Donald Trump's "America First", they have truly ruffled the feathers of the ruling Liberal Democratic Party (LDP) and its embattled prime minister, Shigeru Ishiba.

The U.S. trade deal will further support improving economic fundamentals in Japan, which underpin our constructive equity positioning on the country.

Sohei Kamiya's Sanseitō Party won 14 seats in Japan's Upper House elections, appealing to young voters with a "Japanese first" platform focused on culture, birth rates and food security.

The new U.S.-Japan trade deal lowers tariffs and strengthens economic ties, helping challenge China's regional aggression and instability.

The U.S. is significantly reliant on the Taiwanese company for advanced chip manufacturing, raising concerns due to its proximity to China.