- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Japan Research Round-Up for Ending Jan 24, 2020
The Weekly Comment SummaryWhat can we conclude about FY19 Q3 earnings from the forerunner results reported by Tokyo Steel, Nidec and Disco this week and which should be our focus for next week? Pelham Smithers sets it out and takes the market’s temperature.
Reports / Flash Notes Summaries
1. Square Enix (9684 JT) – Looking Beyond FY19
2. EU Proposed Moratorium on Facial Recognition – Implications for NEC (6701 JT)
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Video Games Market Likely Shrank in 2019 (Part 2)
2. Consumer Electronics-Moves / News Snippets that Caught Our Eye
Technology: Electronic Components and Precision
3. Implications for NEC of EU Proposed Moratorium on Facial Recognition
4. Disco’s (6146 JT) FY19 Q3 Results – Good and Not So Good
5. NAND Prices Picking Up
6. Nidec’s (6594 JT) FY19 3Q Disappoints
7. Industrial Electronics / Precision-Moves / News Snippets that Caught Our Eye
Chemicals / Materials
8. Bleak Nikkei Review for Graphite Electrode Maker Tokai Carbon (5301 JT)
9. Asahi Kasei (3407 JT), Mitsubishi Chem (4188 JT) Naphtha Restart Delayed
Autos
10. Toyota (7203 JT) Takes Steps to Improve its North America Operations
11. Subaru (7270 JT) Announces Electrification Plan for Its Fleet
12. Subaru (7270 JT) Positive on US Sales in 2020
13. Mitsubishi Motors Faces Probe into Emission Manipulation in Germany
Auto Parts / Machinery 12
14. Komatsu (6301 JT) and HCM (6305 JT): China Market Share One-Third of 2008’s
15. China Virus: Daikin Hits Record High, Micro-Cap Airtech +40% in Two Weeks
Internet 13
16. CyberAgent (4751 JT): Pressure on AbemaTV Increases
17. Mercari (4385 JT) Continues to Lose Favour
Telecom
18. Rakuten (4755 JT) Confirms Full-Scale Launch of the MNO Service in April
19. The Contrasting Paths of Z Holdings and ZOZO
Enterprise Software
20. Net One Systems (7518 JT) / NS Solutions (2327 JT) Under Investigation
21. TIS takes Majority Stake in US Tokenisation Start-Up
22. RPA Holdings (6572 JT): Are the Shares Close to a Bottom?
23. Local Broker Upgrades Sansan (4443 JT)
Pharma
24. Chugai Pharmaceutical (4519 JT) Does a 3:1 Stock Split
25. Astellas (4503 JT) Completes Exit from JV with Amgen (AMGN US)
26. Ono Pharm’s (4528 JT) Opdivo Miss
Miscellaneous
27. Why We Are Getting Parent / Child Battles
28. Small-Cap Company Results Out on Friday
29. Coronavirus-Related Moves
30. Tokyo Steel (5423 JT) Kicks off Q3 Results
Macro
31. Japan’s Exports Underscore Old Economy / New Economy Division
32. Jibun Bank Jan PMI Improves
PSA Company Visits, Tours and Interviews
• Attended earnings meetings at: Nachi-Fujikoshi (6474 JT)
• Interviewed / Conference Call with: Asahi Kasei (3407 JT), Mitsubishi Chemical Holdings (4188 JT), Mitsubishi Gas Chemical (4182 JT), Zeon Corp (4205 JT), Kanto Denka Kogyo (4042 JT)
• Information meeting with: Nissan Chemical (4021 JT)
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.
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