Report

New Street: Asian telcos: Navigating Covid-19. Buy Japanese, Korean telcos & China Tower

Following our note (HERE) on earnings risk, we look at how investors should play Asian telcos through Covid-19.
Underlyings
China Tower Corp Ltd

KDDI Corporation

KDDI is a telecommunications company. Along with its affiliates, Co. operates in four principal business segments: personal, value, business, and global. Co. is engaged in the sale of mobile handset; and the provision of mobile telecommunication services under "au" brand name, Internet contents, settlement service, and electronic money service for individual customers. Co. offers information and communication technology ("ICT") solution services and data center services for domestic corporate customers, overseas companies and individual customers. Co. is also involved in the call center business, the research and technological development, and the telecommunication facilities maintenance.

KT Corp (ADR)

LG Uplus Corp

LG Uplus is engaged in the business of mobile telephone, communication, voice and data services. Co. provides the following services: cellular services; paging services, which provides paging via satellite, high speed paging, and interactive data transmission; IMT-2000 Services, which is wireless multimedia service accessible through a network based on wide band CDMA technology; and home solution services, which provides local, long-distance and overseas telephone services, broadband Internet services, and cable television transmission network services.

NTT DATA Corporation

NTT Data is an information technology ("IT") company mainly engaged in the provision of system integration and network system services. Along with its affiliates, Co. operates in five business segments: public & social infrastructure, financial, enterprise & solutions, North America, and EMEA & LATAM. Co. provides IT services including system integration, network information, consulting, business solution, and system support services to its customers in various industries both domestic and overseas. Co.'s principal products and services are "Accel-Mart," "Aggregate Master®," "Tableau™," "IMDA®," "IsleLinX®," "BRIMOS®," "RemoteOne®," "WinActor," "ANSER," and "AnserDATAPORT®."

SK Telecom Co. Ltd.

SK Telecom is a wireless telecommunications services provider in the Republic of Korea (South Korea). Co. provides the following services: wireless Internet services, which include music portal services, game portal services, multimedia services, and wired and wireless integrated multimedia services; ubiquitous and convergence services, which include telematics, digital home, commerce, mobile radio frequency identification and mobile community; international roaming services, which include global system for mobile communication; video telephony services, which enable subscribers incorporating video conferences, as well as B2B services.

Provider
New Street Research
New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

  • Pan European Telecom Services and Cable
  • US Telecoms, Cable, Satellite and Towers
  • Global Emerging Market Telecoms
  • Japan Telecoms
  • Asian Internet
  • Pan European Healthcare
  • Global healthcare thematic research

We provide debt research on:

  • Pan European Telecom Services and Cable


Analysts
Chris Hoare

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