Pelham Smithers Associates Ltd - PSA Micro- / Small- / Mid-Cap Recap [15 Dec 2025~16 Jan 2026]

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Micro- / Small- / Mid-Cap Recap [15 Dec 2025~16 Jan 2026]

This report is a recap of reports and insights from the PSA Research Team on Micro- / Small- / Mid-cap companies [market cap < US$10bil] over the period covering 15 Dec 2025~16 Jan 2026.

Tags: Koshidaka Holdings (2157 JT), ZOZO (3092 JT), Sansan (4443 JT), Money Forward (3994 JT), Shift (3697 JT), Demae-can (2484 JT), TKP (3479 JT), Novarese (9160 JT), Lilycolor (9827 JT), Curves Holdings (7085 JT), Treasure Factory (3093 JT), Cover Corp (5253 JT), CyberAgent (4751 JT), Shift Inc (6532 JT), Koshidaka Holdings (2157 JT), Intermestic (262A JT), Fast Fitness Japan (7092 JT), Timee (215A JT), Chubu EP (9502 JT), Appier (4180 JT), PKSHA (3993 JT), SKY Perfect (9412 JT), Shima Seiki (6222 JT), Internet Initiative Japan (3774 JT), Park24 (4666 JT), Square Enix (9684 JT), Osaka Organic Chemical (4187 JT), Cybozu (4776 JT), Oracle Corp Japan (4716 JT), Kakaku.com (2371 JT), en Inc. (4849 JT), Anicom (8715 JT), Kyoritsu Maintenance (9616 JT), Mercari (4385 JT), GA Technologies (3491 JT), Daiichi Kigenso Kagaku (4082 JT), Daikokuya Holdings (6993 JT), Yomeishu Seizo (2540 JT), V-Cube (3681 JT), Dentsu Soken (4182 JT), Dentsu (4324 JT)

19/01/2026 1 EN

Provider

Pelham Smithers Associates Ltd

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.

See profile

Analysts

Hiroyuki Terada

Joel Scheiman

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

Other Reports from Pelham Smithers Associates Ltd

Lindsay Whipp

Lindsay Whipp

PSA Diversified Real Estate: SRE Holdings (2980 JT) – Building Profits and Data at Attractive Valuations

SRE Holdings’ business model of operating in the industries that it develops AI SaaS solutions gives it specialist insights into what customers need as well as generating proprietary data. Analyst Lindsay Whipp thinks that the company’s FY26 (Mar yr-end) EV/OP of 11.1x is attractive for a company that we expect to grow at a 5-yr OP CAGR to FY27 of over +35%.

4h / 34m 4h / 34m 1 EN

Pelham Smithers

Pelham Smithers

PSA Media & Entertainment: Capcom (9697 JT) Makes Resident Evil Requiem Optimized on Nvidia GeForce Now

Issues with the performance of Monster Hunter Wilds following DLC updates may not have impacted earnings performance, but they soured what would otherwise have been an impressive outing for Requiem at both Gamescom and TGS, and while Capcom’s results have been fine, Pelham Smithers addresses the concern that Requiem’s launch next month will be hurt by the same problems as befallen Monster Hunter Wilds.

5h / 38m 5h / 38m 1 EN

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PSA Micro- / Small- / Mid-Cap Recap [15 Dec 2025~16 Jan 2026]

PSA Diversified Real Estate: SRE Holdings (2980 JT) – Building Profits and Data at Attractive Valuations

PSA Media & Entertainment: Capcom (9697 JT) Makes Resident Evil Requiem Optimized on Nvidia GeForce Now

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