Pelham Smithers Associates Ltd - PSA Today 14 Jan: Lowest market level since 29 Nov / Considering Nexon / TOY India ploy / Yaskawa Q3 / Money Forward FY24 / Curves Q1, Treasure Factory Q3, S-Pool Q4 – Nikkei 225 -1.83% | ¥157.38

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 14 Jan: Lowest market level since 29 Nov / Considering Nexon / TOY India ploy / Yaskawa Q3 / Money Forward FY24 / Curves Q1, Treasure Factory Q3, S-Pool Q4 – Nikkei 225 -1.83% | ¥157.38

PSA Today Japan Market Comment by Pelham Smithers, Thao Nguyen, Julie Boote, Joel Scheiman, William Nestuk, Lindsay Whipp and Hiroyuki Terada
Tags: Advantest (6857 JT), Disco (6146 JT), Lasertec (6920 JT), Ibiden (4062 JT), Shin-Etsu Chemical (4063 JT), Nidec (6594 JT), Supermicro (SMCI US), Nvidia (NVDA US), Sanrio (8136 JT), Treasure Factory (3093 JT), Park24 (4666 JT), Cosmos Pharmaceutical (3349 JT), Ryohin Keikaku (7453 JT), Aeon Fantasy (4343 JT), Nissan Motor (7201 JT), Open House (3288 JT), Pressance (3254 JT), Sunwels (9229 JT), Amvis (7071 JT), Inter Action Corp (7725 JT), Nexon (3659 JT), Toyota Motor (7203 JT), Suzuki Motor (7269 JT), Mazda Motor (7261 JT), Tesla (TSLA US), Subaru (7270 JT), Yaskawa Electric (6506 JT), Fanuc (6954 JT), Money Forward (3994 JT), Sumitomo Mitsui Card Co., Ltd (pvt), Curves Holdings (7085 JT), S-Pool (2471 JT)
Main Points
 Tech sell-off sends Japan’s key indices to lowest level since 29 Nov
 Nexon’s share price: a weak start to the year
 Toyota presents its India-built Urban Cruiser EV
 Yaskawa Q3 positive points
 Money Forward: FY24 results disappoint all round
 Curves produces Q1 OP ahead of plan
 Treasure Factory reports Q3 results; full-year guidance seems conservative
 S-Pool’s FY24 Q4 results are in line with plan; its FY25 OP outlook calls for +10% YoY growth

14/01/2025 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

Julie Boote

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

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Hiroyuki Terada ... (+8)

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The PSA Weekly Research Round up for the Week to 10 January 2025

Weekly Comment Summary On 24 Jan the Bank of Japan will decide whether to raise rates. At this point, the likelihood of a hike is probably 50:50. Pelham Smithers discusses factors which may swing the decision. Reports / Flash Notes Summaries 1. NTT Data (9613 JT) – The Data Centre Boost NTT Data’s overseas data centre business is growing faster than the broader market. While it accounts for less than 10% of the company’s sales and will continue to do so, we estimate that by FY26 it will account for more than 20% of OP. We think that the business will not only benefit the long-term outlook...

January 10, 2025 January 10, 2025 1 EN

Lindsay Whipp

Lindsay Whipp

PSA Information Technology / IT Services: NTT Data (9613 JT) – The Data Centre Boost

Tags: NTT Corp (9432 JT), Equinix (EQIX US), Iron Mountain (IRM US), Amazon (AMZN US), Microsoft (MSFT US), Google (GOOG US), Digital Realty Trust (DLR US), QTS (owned by Blackstone (BX US)), CyrusOne (owned by KKR (KKR US) and Global Infrastructure Partners (pvt), Cyxtera (owned by Brookfield Infrastructure Partners (BIP US)), Cologix (pvt), Meta (META US), Apple (AAPL US), Oracle (ORCL US), Netflix (NFLX US), Money Forward (3994 JT), Digital Realty Trust (DLR US), DataBridge Group (DBRG US), Nomura Research Institute (4307 JT), TIS Inc (3626 JT), SCSK (9719 JT), NEC Corp (6701 JT), Hitachi (...

January 10, 2025 January 10, 2025 1 EN

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PSA Today 14 Jan: Lowest market level since 29 Nov / Considering Nexon / TOY India ploy / Yaskawa Q3 / Money Forward FY24 / Curves Q1, Treasure Factory Q3, S-Pool Q4 – Nikkei 225 -1.83% | ¥157.38

The PSA Weekly Research Round up for the Week to 10 January 2025

PSA Information Technology / IT Services: NTT Data (9613 JT) – The Data Centre Boost

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