Pelham Smithers Associates Ltd - PSA Today 10 Jan: Weak market / Yaskawa Q3 / Considering Shimano / Previews: Money Forwards Q4, BayCurrents Q3 / Koshidakas Q1 / Treasure Factory Dec KPIs / J-Tech strength – Nikkei -1.05% | ¥$158.32

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 10 Jan: Weak market / Yaskawa Q3 / Considering Shimano / Previews: Money Forward's Q4, BayCurrent's Q3 / Koshidaka's Q1 / Treasure Factory Dec KPIs / J-Tech strength – Nikkei -1.05% | ¥$158.32

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Hiroyuki Terada and Thao Nguyen
Tags: Chugai Pharmaceutical (4519 JT), Mitsui Mining & Smelting (5706 JT), Onward Holdings (8016 JT), Shionogi (4507 JT), Tauns Lab (197A JT), Seven & I (3382 JT), Hisamitsu Pharmaceutical (4530 JT), Sugi Holdings (7649 JT), Fast Retailing (9983 JT), Mazda Motor (7261 JT), Honda Motor (7267 JT), Nissan Motor (7201 JT), Toyota Motor (7203 JT), Nomura (9716 JT), Yaskawa Electric (6506 JT) Shimano (7309 JT), Money Forward (3994 JT), BayCurrent (6532 JT), Koshidaka (2157 JT), Treasure Factory (3093 JT), GA Technologies (3491 JT)
Main Points
 Nikkei 225 extends losing streak as weak consumption data proves concerning
 Yaskawa: weak Q3 along with unconvincing guidance
 Is the worst over for Shimano?
 Money Forward: FY24 full year and Q4 preview
 BayCurrent: FY24 Q3 preview
 Koshidaka FY25 Q1 results
 Treasure Factory’s December KPIs
 GA Technologies to provide further services for brokerage companies

10/01/2025 1 EN

Provider

Pelham Smithers Associates Ltd

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.

PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.

The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.

See profile

Analysts

Hiroyuki Terada

Joel Scheiman

Julie Boote

Pelham Smithers

Thao Nguyen

William Nestuk

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The PSA Weekly Research Round up for the Week to 10 January 2025

Weekly Comment Summary On 24 Jan the Bank of Japan will decide whether to raise rates. At this point, the likelihood of a hike is probably 50:50. Pelham Smithers discusses factors which may swing the decision. Reports / Flash Notes Summaries 1. NTT Data (9613 JT) – The Data Centre Boost NTT Data’s overseas data centre business is growing faster than the broader market. While it accounts for less than 10% of the company’s sales and will continue to do so, we estimate that by FY26 it will account for more than 20% of OP. We think that the business will not only benefit the long-term outlook...

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Lindsay Whipp

Lindsay Whipp

PSA Information Technology / IT Services: NTT Data (9613 JT) – The Data Centre Boost

Tags: NTT Corp (9432 JT), Equinix (EQIX US), Iron Mountain (IRM US), Amazon (AMZN US), Microsoft (MSFT US), Google (GOOG US), Digital Realty Trust (DLR US), QTS (owned by Blackstone (BX US)), CyrusOne (owned by KKR (KKR US) and Global Infrastructure Partners (pvt), Cyxtera (owned by Brookfield Infrastructure Partners (BIP US)), Cologix (pvt), Meta (META US), Apple (AAPL US), Oracle (ORCL US), Netflix (NFLX US), Money Forward (3994 JT), Digital Realty Trust (DLR US), DataBridge Group (DBRG US), Nomura Research Institute (4307 JT), TIS Inc (3626 JT), SCSK (9719 JT), NEC Corp (6701 JT), Hitachi (...

8h / 5m 8h / 5m 1 EN

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PSA Today 10 Jan: Weak market / Yaskawa Q3 / Considering Shimano / Previews: Money Forward's Q4, BayCurrent's Q3 / Koshidaka's Q1 / Treasure Factory Dec KPIs / J-Tech strength – Nikkei -1.05% | ¥$158.32

The PSA Weekly Research Round up for the Week to 10 January 2025

PSA Information Technology / IT Services: NTT Data (9613 JT) – The Data Centre Boost

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