Pelham Smithers Associates Ltd - PSA Today 10 Feb: Market wanes ahead of 3-day weekend / TEL 3Q OP +148% YoY / Mazda raises FY21 OP target / Nabtesco FY21 and FY22 outlook fall short / Bigger losses at BASE Inc / Cybozu revises up FY21 NP – Nikkei 225 +0.42%

Report

Pelham Smithers Associates Ltd

Julie Boote ...

Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 10 Feb: Market wanes ahead of 3-day weekend / TEL 3Q OP +148% YoY / Mazda raises FY21 OP target / Nabtesco FY21 and FY22 outlook fall short / Bigger losses at BASE Inc / Cybozu revises up FY21 NP – Nikkei 225 +0.42%

Japan Market Comment by Pelham Smithers, Julie Boote, William Nestuk, Thao Nguyen and Lindsay Whipp
Tags: Tokyo Electron (8035 JT), Renesas (6723 JT), Sumco (3436 JT), Murata (6981 JT), Toyota Motor (7203 JT), Honda (7267 JT), Denso (6902 JT), Fujikura (5803 JT), Mitsui Mining (5706 JT), Terumo (4543 JT), Sega Sammy (6460 JT), Sony (6758 JT), Microsoft (MSFT US), Tokyo Electron (8035 JT), Disco (6146 JT), Ulvac (6728 JT), Advantest (6857 JT), Mazda (7261 JT), Nabtesco (6268 JT), Boeing (BA US), BASE Inc (4477 JT), Shopify Japan, Mercari, (4385 JT), Z Holdings (4689 JT), Cybozu (4776 JT)
Main Points
• Momentum wanes ahead of 3-day weekend
• Tokyo Electron 3Q FY21 OP +148% YoY
• Mazda Raises FY21 OP Forecast
• Nabtesco FY21 OP 9% below guidance; FY22 OP nearly 10% below consensus
• BASE expects bigger losses in FY22
• Cybozu books FY21 impairment charge on US subsidiary but revises up NP thanks to budget underspend

10/02/2022 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

Julie Boote

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today 10 Feb: Market wanes ahead of 3-day weekend / TEL 3Q OP +148% YoY / Mazda raises FY21 OP target / Nabtesco FY21 and FY22 outlook fall short / Bigger losses at BASE Inc / Cybozu revises up FY21 NP – Nikkei 225 +0.42%

PSA Autos /New Mobility: The Case for Honda (7267 JT) over Toyota (7203 JT)

PSA Today 1 July: Tariff worries / Capcom's rich showcase / The case for Honda over TOY / Fujikura, Melco listing highs / Insource June KPIs – Nikkei 225 -1.24% | ¥$143.62

PSA Japan Stock Market Strategy for 2025 Q3

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