PSA Today 15 May: Towards 30,000 / Producer prices / SQE's plans / Suzuki's FY22 Q4 / Daifuku, Ferrotec, Fujikura results / IIJ's FY22 / Enechange's FY23 Q1 – Nikkei 225 +0.81%
Japan Market Comment by Pelham Smithers, Julie Boote, William Nestuk and Lindsay WhippTags: Olympus (7733 JT), Shiseido (4911 JT), Sysmex (6869 JT), Danaher (DHR US), Eisai (4523 JT), Dai-ichi Life (8750 JT), Bridgestone (5108 JT), Hitachi (6501 JT), Square Enix (9684 JT), Gumi (3903 JT), Suzuki Motor (7269 JT), Maruti Suzuki (MSIL IN), Daifuku (6383 JT), Ferrotec Holdings (6890 JT), Fujikura (5803 JT), Internet Initiative Japan (3774 JT), NTT Data (9613 JT), Nomura Research Institute (4307 JT), Fujitsu (6702 JT),Enechange (4169 JT), Chugoku Electric (9504 JT), Chubu Electric (9502 JT), Kyushu Electric (9508 JT), SRE Holdings (2980 JT)
Main Points
• Nikkei makes further progress towards 30,000 as market absorbs massive earnings day data.
• Japan producer prices +0.2% MoM.
• Square Enix unveils full extent of Web3 / Blockchain gaming investment.
• Suzuki beat FY22 Q4 estimates, but misses FY23 estimates
• Daifuku pares losses on FY23 OP “bottom” guidance
• Ferrotec FY22 and FY23 OP both in line with PSA estimates
• Fujikura rises on 5% dividend yield and cautious FY23 assumptions
• IIJ produces solid FY22 results and robust outlook for FY23.
• Enechange FY23 Q1 pleases market.
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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