PSA Today 16 Oct: Back up to 48k level / Machinery order backlogs / Hitachi amid AI / Tekscend debut / Money Forward Q3, BayCurrent Q2 / S-Pool considering reorganisation – Nikkei 225 +1.27% | ¥$151.09
PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, Lindsay Whipp and Hiroyuki TeradaTags: Hankyu Hanshin (9042 JT), Kintetsu Group (9041 JT), Keihan Holdings (9045 JT), Keihanshin Building (8818 JT), Kioxia (285A JT), Renesas (6723 JT), Socionext (6526 JT), ARM (ARM US), SoftBank Group (9984 JT), TEPCO (9501 JT), Furukawa Electric (5801 JT), Fujikura (5803 JT), Chubu E.P. (9502 JT), Sharp (6753 JT), Shift (3697 JT), Visional (4194 JT), Saizeriya (7581 JT), FP Partner (7388 JT), Toho (9602 JT), BayCurrent (6532 JT), Money Forward (3994 JT), Hioki EE (6866 JT), Hitachi (6501 JT), Nvidia (NVDA US), Alphabet (GOOGL US), Fujikura (5803 JT), NEC Corp (6701 JT), Microsoft (MSFT US), Amazon (AMZN US), Marvell (MRVL US), Meta Platforms (META US), Fujitsu (6702 JT), Tekscend Photomask Corp (429A JT), Toppan Holdings (7911 JT), Integral Corp (5842 JT), IBM (IBM US), Taiwan Semiconductor Mfg. Co (2330 TT), Samsung Electronics (005930 KS), Intel (INTC US), Dai Nippon Printing (7912 JT), Photronics Inc (PLAB US), Xero (pvt), Intuit (INTU US), Nexsol (pvt), Sumitomo Mitsui Card Co. (pvt), S-Pool (2471 JT)
Main Points
Nikkei 225 recovers 48,000 level as IC, data centre stocks soar
Machinery order backlog continues to rise
Valuing Hitachi as management showcase AI credentials
Tekscend Photomask debuts on the TSE
Money Forward FY25 Q3 sales short of consensus, but operating loss came in significantly narrower than expected
BayCurrent FY25 Q2 Ebitda misses consensus estimates, but sales outperform
Pool may implement reorganization
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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