- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Japan Research Round-Up for the week to July 10, 2020
The Weekly Comment SummaryCanon’s slow shift in status from poster child of Japan Inc to problem child is a source of endless fascination to the seasoned market watchers who work at PSA. Pelham Smithers here discusses how the July 28 2Q results are likely to mark a further stage in the decline of the company’s fortunes. Is Mitarai the man to heal its ills?
Reports / Flash Notes this Week
1. An Introduction to Oro Co (3983 JT) – Not Quite the Pot of Gold for Investors
2. Yaskawa Electric (6506 JT) FY20 Q1 Preview: Strong post-Q1 guidance could lift Machinery Sector higher
3. An Introduction to Japan’s Accidental Fintech Player – Densan System Co Ltd (3630 JT)
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Worries Grow Over State of Global Music Business
Technology: Industrial Electronics and Electronic Components
2. Has Japan Finally “Got†New NEC (6701 JT)?
3. NEC (6701 JT) in SomaLogics Tie Up
4. Apple to Use OLED on All New iPhones
5. Small-Cap Value EV-Play Hioki EE (6866 JT) Making Some Big Moves
Technology: Semiconductor Production Equipment & Precision
6. Philadelphia Semiconductor Index Bounce Sends SPE Stocks Higher
Chemicals / Materials
7. Fujifilm Holdings’ (4901 JT) Avigan Fails Efficacy Study
8. Petrochemicals – Live Long and Prosper?
9. Asahi Kasei (3407 JT) / Sekisui Chemical (4204 / JT) June Housing Orders
10. Flooding Disrupts Business in Southern Japan
Autos
11. Fuel Cell Trucks in the Spotlight
12. Bridgestone Develops EV-Specific Tyre
Auto Parts / Machinery
13. If it Ain’t Broke…Big Ones Close at New Listing Highs: Yaskawa July 10 FY20 Q1 Disappoints
14. Yaskawa FY20 Q1 OP (-21% YoY) Unlikely to Boost Machinery Sector
Internet / eCommerce
15. BASE Inc (4477 JT): The Number of BASE Shops Exceeds 1.1mil
16. BASE Inc (4477 JT) on its Competitor, GMO Pepabo (3633 JT)
17. Still Confident in CyberAgent (4751 JT)
Enterprise Software
18. Sansan (4443 JT) Raises its FY19 Forecasts
19. Densan System (3630 JT) Hits an All-time High
Telecom
20. Pepper Goes to the Ball Game
Pharma
21. Eisai (4523 JT)-Linked Drugs in the News
Miscellaneous
22. MonotaRO (3064 JT) June Sales +31% YoY
23. Takashimaya’s (8233 JT) FY20 1Q: Impressive Damage Control but Macro Implications Worrisome
24. Downward Revision for Tosei Corp (8923 JT) vs Upside at GA Technologies
25. Masayoshi vs Masatoshi
Market / Strategy
26. The “Lying-Vâ€-Shaped Recovery
27. Covid Cases Rising, Tokyo Governor Koike’s Strategies
28. Nikkei 225 Substitutions
29. Global Concerns Drag Tokyo Down; New Lows Logged Aplenty
Macro
30. Latest Japan Data Indicates Economy on a Knife Edge
31. Economy Watchers’ Survey Ahead of Expectations
32. PPI +0.6% MoM, Higher than Expected
PSA Company Visits, Tours and Interviews
• Interviewed / Conference Calls with: Olympus Corp (7733 JT), Nitto Denko (6988 JT)
• Participated in earnings call with: Yaskawa (6506 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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