PSA Japan Research Round-Up for the week ending March 20, 2020 [NB Friday Mar 20 – Vernal Equinox Day – is a national holiday in Japan]

The Weekly Comment Summary
With Europe's auto market teetering on the edge of collapse, this cannot be a good year for Japan's assemblers here, and they are announcing plant closures. Analysing the situation, Julie Boote highlights Toyota's outstanding relative strengths.

Reports / Flash Notes Summaries
1. CyberAgent (4751 JT): Offering Resilience and Value

Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. PS5 / Xbox X 2020 Launch Concerns: Xbox X Specs / Peter Rabbit 2 Delayed
2. Nintendo (7974 JT): Positive Pre-Release Reviews for Animal Crossing: New Horizons
Chemicals / Materials
3. Rising Expectations for Fujifilm’s (4901 JT) Avigan
4. The Dramatic Fall in KH Neochem’s (4189 JT) Share Price
Autos
5. Toyota (7203 JT) Accelerates Blockchain Initiatives
Auto Parts / Machinery
6. Top-line Growth Leaders Fare Well
7. IHI’s (7013 JT) Client Base Suffering
Internet / eCommerce
8. GA Technologies (3491 JT) Recovers as Investors Have Second Thoughts
Enterprise Software / IT
9. NRI’s (4307 JT) Market Cap Usurps NTT Data’s (9613 JT) as Japan’s Top SI Provider / Overtakes Nomura (8604 JT) As Well
10. Japan IT Services Market +4.1% in 2019
11. ERP Software, the Systems Integration Sector and the Market Rout Last Week
Telecom
12. NTT DOCOMO (9437 JT) Steps Forward
13. SoftBank Group (9984 JT) To Pull Out of WeWork Bailout? / Nikkei Write-Up
Market / Macro / Miscellaneous
14. Market’s Reaction to Buybacks
15. Nikkei 225 Move Mirrors Either Side of Bubble
16. Core Machinery Orders for January +2.9% MoM, -0.3% YoY

PSA Company Visits, Tours & Interviews
• Interviewed / Conference Call with: GA Technologies (3491 JT), Fujifilm Holdings (4901 JT), KH Neochem (4189 JT), Nabtesco (6268 JT), Yokohama Rubber (5108 JT), Daikin (6268 JT)