- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Japan Research Round-Up for the week ending March 27, 2020
The Weekly Comment SummaryPelham Smithers notes how the Japanese stock market's reaction to the Covid-19 pandemic falls into two neat blocks each a month long. He discusses what, as of now, are the opportunities offered by the market to institutional investors.
Reports / Flash Notes Summaries this Week
1. Japan Stock Market Strategy – Spread of Covid-19 in Japan
Pelham Smithers strategises as he considers the trajectory of Covid-19 in the nation of islands which go to make up Japan. Pelham thinks it is more important to choose what should be sold than what should be bought.
1. Japan Stock Market Strategy – Spread of Covid-19 in Japan
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Sony (6758 JT) Seems to Reverse Upward Revision
2. Square Enix (9684 JT) Weekly iOS Run-Rate US$10mil
3. Launch of Nintendo’s (7974 JT) Animal Crossing: New Horizons Huge
Technology: Industrial Electronics, SPE, Components
4. TDK (6762 JT) Revises Down
5. Flash, DRAM Prices Diverging
6. Holon (7748 JT) Upward Revision a Reminder that EUV Story is Intact
7. Canon (7751 JT): One of the First to Report March Quarter Numbers
8. Does Covid-19 End the LBP Business Model?
9. Ricoh (7752 JT) to Return an Additional ¥100bil to Shareholders (Apparently)
Chemicals / Materials
10. Asahi Kasei’s (3407 JT) Subsidiary Zoll Ramps Up Ventilator Production
11. JSR (4185 JT) Hit by Weak Tire Demand
12. W-Scope (6619 JT) Faces a Potential Credit Crunch
13. Mitsubishi Chemical (4188 JT) and Ube (4208 JT) Combine Some LiB Operations
Autos
14. US Auto Market in Crisis
15. Toyota (7203 JT) to Partner with NTT on Smart Cities
16. Mitsubishi Corp (7058 JT) to Invest in Renault (RNO FP)?
Auto Parts / Machinery
17. Daifuku’s (6383 JT) Stock Has Outperformed Considerably
18. IHI (7013 JT) Subside after a Shipbuilding Bounce
Internet / eCommerce
19. mixi (2121 JT) Revises Upward Again
20. Kakaku.com (2371 JT) Assailed by Covid-19 from Multiple Directions
21. istyle (3660 JT) & ZOZO (3092 JT): Two E-Commerce Firm Not Benefiting from Covid-
22. Cybozu (4776 JT): Strong Feb 2020 Sales Growth
23. PKSHA (3993 JT): What Does the Toyota-NTT Capital Alliance Mean for this AI Start-Up?
24. Oracle Japan (4716 JT) Maintains FY19 Sales and EPS Forecasts Despite Covid-19 Pandemic
Telecom
25. SoftBank Group (9984 JT) Selling Assets / Buying Back Shares
Miscellaneous
26. Yamato (9064 JT) Ties Up with Z Holdings (4689 JT)
Market / Macro
27. Mar 23 Sector Performance Underscores Defensive, Balance Sheet & Oil Sensitivity Nature of Market
28. Japan and Covid-19
PSA Company Visits, Tours & Interviews
• Interviewed / Conference Call with: Asahi Kasei (3407 JT)
PSA in the Press
• Pelham Smithers is quoted in a Bloomberg article on Mar 26, SoftBank’s Big Bet on Sharing Economy Backfires with Coronavirus.
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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