Pelham Smithers Associates Ltd - PSA Today 15 Oct: Rally on dovish Fed / Political stalemate / Hitachis AI credentials / National battery push / Shift, Demae-can, TKP FY25 results / Sep tourism figs – Nikkei 225 +1.76% | ¥$151.03

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Lindsay Whipp
Pelham Smithers
Thao Nguyen

PSA Today 15 Oct: Rally on dovish Fed / Political stalemate / Hitachi's AI credentials / National battery push / Shift, Demae-can, TKP FY25 results / Sep tourism figs – Nikkei 225 +1.76% | ¥$151.03

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, Lindsay Whipp, Thao Nguyen and Hiroyuki Terada
Tags: Mazda (7261 JT), IHI (7013 JT), Kokusai Electric (6525 JT), Lasertec (6920 JT), Screen (7735 JT), Ibiden (4063 JT), Tokyo Ohka Kogyo (4186 JT), MEC (4971 JT), Air Water (4088 JT), Hitachi (6501 JT), NEC Corp (6701 JT), Timee (215A JT), Mercari (4385 JT), Recruit (6098 JT), Renesas (6723 JT), Wolfspeed (WOLF US), Nvidia (NVDA US), Synvert (pvt), McKinsey & Co (pvt), Asahi Kasei (3407 JT), Toray (3402 JT), W-Scope (6619 JT), Kanto Denka (4047 JT), Central Glass (4044 JT), Kureha (4023 JT), Zeon Corp (4205 JT), Shift Inc. (3697 JT), NRI (4307 JT), Demae-can (2484 JT), LY Corp (4689 JT), TKP (3479 JT), Novarese (9160 JT), Lilycolor (9827 JT)
Main Points
 Japan shares rally as Fed shows dovish traits
 Stalemate in Japanese politics continues
 Hitachi reminds market of its AI credentials
 Japan’s latest step to be more competitive in batteries
 Shift FY25 results highlight success in limiting hiring, but underscore need for further utilisation rate improvement
 Demae-can expects sales growth in FY26
 TKP posts robust Q2 results as back to office push continues
 Foreign visitors to Japan rise +13.7% YoY in September

15/10/2025 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

Lindsay Whipp

Pelham Smithers

Thao Nguyen

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PSA Today 15 Oct: Rally on dovish Fed / Political stalemate / Hitachi's AI credentials / National battery push / Shift, Demae-can, TKP FY25 results / Sep tourism figs – Nikkei 225 +1.76% | ¥$151.03

PSA Enterprise Software / IT Services: Internet Initiative Japan (3774 JT) – Well-Positioned in Japan’s Enterprise IT Transformation

PSA Today 14 Oct: Politics in turmoil, US-China trade concerns / Tamaki of the DPP / Next gen Xbox / Considering Timee / S-Pool Q3 – Nikkei 225 -2.58% | ¥$ 151.81

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