Industry Newsai supply chainsemiconductorsfujibofidelity
Fidelity Manager Favors Japan's Small AI-Linked Firms
7.2
Dale Nicholls, manager of the $944 million Fidelity Funds Pacific Fund, has reinforced his preference for smaller AI-linked Japanese companies after Japanese shares hit record highs early in 2026; the fund holds about 23% in Japanese stocks and outperformed 96% of peers over the past year, Bloomberg data show. He cites undervalued suppliers like Fujibo — up 80% year-on-year with roughly 20x P/E — as having further upside.
Key Points
- 1Allocates 23% to Japanese stocks, fund beat 96% of peers in past year
- 2Highlights undervalued small-cap AI suppliers like Fujibo amid expensive memory-chip leaders
- 3Suggests practitioners consider small Japanese suppliers for AI supply-chain exposure with valuation upside
Scoring Rationale
Solid Bloomberg-backed fund evidence and actionable investor insight, limited novelty and primarily Japan small-cap focus.
Sources
Public references used for this report.
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