PSA Japan Research Round-Up for the week to June 12

The Weekly Comment Summary
Pelham walks us through the murky world of SoftBank’s ARM China deal, where whatever is going on, all is clearly not well.

Reports / Flash Notes Summaries
1. Nabtesco (6268 JT) – FY20 OP Could Rise 20% YoY: Valuations Shifting to FY21
2. Demae-Can (2484 JT) – Can It Deliver Its “Life Infrastructure of Japan” Dream?
3. Nissan (7201 JT) and the Alliance: Medium-Term Outlook
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Video Games Moves That Caught Our Eye
2. PS5 Reveal: Several Highlights, a Lot of Guff, No News on Pricing
3. Panasonic’s (6752 JT) Bad News on Solar & Lithium Battery Fronts
Technology: Industrial Electronics and Electronic Components
4. Facial Recognition Set to Play Bigger Role in Airports; Good News for NEC (6701 JT)
5. NEC in Submarine Cable Win
6. Rohm (6963 JT) Gives a Glimpse of the Future / Positives for Hitachi (6501 JT)
7. Hitachi (6501 JT): Lumada / Vantara Update
Technology: Semiconductor Production Equipment & Precision
8. Broker Downgrades in SPE
9. China to Buy Japanese 5G Equipment?
10. Exciting Times at ARM China
Chemicals / Materials
11. Miraial (4238 JT) Reports a Tough FY20 Q1
12. Furukawa Battery (6937 JT) Limit Up on its Bipolar Battery
13. Sekisui Chemical (4204 JT) Housing Orders Flat MoM in May
Autos
14. Europe to Introduce Auto Support Packages, EVs to Benefit Most
15. China Auto Sales Rise in May
16. Honda (7267 JT) Victim of Cyberattack
Telecom
17. SoftBank Group (9984 JT) Looking to IPO Lemonade
Internet / eCommerce
18. CyberAgent’s (4751 JT) ABEMA to Launch PayPerView
19. GA Technologies’ (3491 JT) Good FY20 Q2 Results
20. Enigmo’s (3665 JT) FY20 Q1 Results
Enterprise Software
21. Cybozu FY20 Q1 Results as Expected
22. Sansan’s (4443 JT) Eight Sees 10,000+ DLs of its QR Code Virtual Card Exchange

Pharma
23. Otsuka ADHD Trials Deliver
24. Pharma Moves That Caught Our Eye
Miscellaneous 18
25. SRE Holdings’ (2980 JT) Stock Now Available for Loan
26. DLE (3686 JT): Looking to Become Japan’s TikTok
27. MonotaRO (3064 JT) May Sales +10.4% YoY
28. The TSE’s Class of 36xx; a Review
Market / Strategy
29. Risk-On and IPO Market Heating Up
30. Yen and Bond Market Rallying
Macro
31. Important but Weird Sets of Economic Data Published

PSA Company Visits, Tours & Interviews
• Visited: Fujifilm Holdings (4901 JT), Showa Denko (4004 JT), Tokyo Ohka Kogyo (4186 JT)
• Interviewed / Conference Call with: Daikin (6367 JT), Nabtesco (6268 JT), Daifuku (6383 JT), Komatsu (6301 JT), NGK Spark Plug (5334 JT)
• Participated in earnings call with: Fujikura (5803 JP), Ohara Inc (5218 JT)