- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Japan Research Round-Up for the Week to 6 Nov 2020
Weekly Comment SummaryPelham Smithers has listed several things that have happened this week which suggest that global investors should be overweight Japanese equities.
Reports / Flash Notes Summaries
1. NEC (6701 JT) FY 20 Outlook – Avaloq and the NEC SaaS Opportunity
2. Fujifilm Holdings (4901 JT) – Focus on Healthcare and Documents
3. Nintendo (7974 JT) Update and Outlook
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Sony (6758 JT) in Key TikTok Deal
2. Sony Set to Buy Crunchyroll for Around US$1bil
3. Nintendo (7974 JT) 2Q FY20 OP +120% YoY
4. Colopl (3668 JT) 4Q FY20 OP +20% YoY
5. Square Enix (9684 JT) 2Q OP -19% YoY
6. Bandai Namco (7832 JT) 2Q OP +4% YoY
7. Sega Sammy (6460 JT) FY20 Q2 Ahead of Consensus
Technology: Industrial Electronics and Electronic Components
8. Murata (6981 JT) Back to Best
9. NEC in Docomo SA 5G Core Vendor Win
10. 5G Capex Back in the News
11. Nidec Plans to Build European EV Motor Plant
Technology: Semiconductor Production Equipment & Precision
12. Nikon (7731 JT) FY20 2Q Loss ¥26.1bil
13. Ricoh (7752 JT) Slashes FY20 Forecasts After 2Q Loss
Chemicals / Materials
14. Asahi Kasei Hikes its FY20 Guidance
15. Chemical News & Moves
Autos
16. Positive US Auto Sales Growth for Toyota, Subaru, Mazda in October
17. Toyota (7203 JT) Boosts FY20 Forecasts on Higher Sales
18. Honda (7267 JT) Enjoys a Strong Q2
19. Subaru (7270 JT) Raises FY20 Forecast on Higher Volume / Mix Expectations
20. Suzuki Motor (7269 JT) Reports Solid Q2 Earnings on Lower Expenses
21. Further Losses for Mitsubishi Motors (7211 JT) in Q2
Auto Parts / Machinery
22. Toyota Industries (6201 JT): Positive Conference Call
23. Daikin (6367 JT) Soars on Brighter FY21 Outlook
24. Daifuku (6383 JT) FY20 H1 OP Beats Guidance by 20% but No Full-Year Upgrade
25. MinebeaMitsumi (6479 JT) 1H In-Line
Telecom
26. Solid Numbers from KDDI (9433 JT)
Internet / eCommerce
27. Mercari’s (4385 JT) FY21 Strong Q1 Results
28. Z Holdings’ (4689 JT) Weak FY20 Q2
29. Kakaku.com’s (2371 JT) FY20 Q2 Results
30. Istyle’s (3660 JT)FY21 Q1 Results
31. Mixi’s (2121 JT) FY20 Q2 Results
Enterprise Software
32. NTT Data (9613 JT) Surges Past Analyst Estimates
33. Broadleaf (3673 JT) Struggles with Business Continuity
Pharma
34. FDA Gives Thumb Up to Aducanumab – Read Across to Eisai (4523 JT)
Miscellaneous
35. Other Moves & News That Caught Our Eye
Macro
36. Monetary Base Continues to Rise
PSA Company Visits, Tours and Interviews
• Visited: JSR (4185 JT)
• Interviewed / Conference Call with: Nidec
• Participated in presentations by: Mitsubishi Motors
• Participated in earnings presentation by: Asahi Kasei (3407 JT), Toray (3402 JT), Sumco (3436 JT), Showa Denko (4004 JT), Mitsubishi Chemical Holdings (4188 JT), Teijin (3401 JT), Mitsubishi Gas Chemical (4182 JT), Central Glass (4044 JT), KH Neochem (4189 JT), Koito (7276 JT), Daikin (6367 JT), MinebeaMitsumi (6479 JT), Toyota Industries (6201 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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