Pelham Smithers Associates Ltd - PSA today 18 Nov: Tech selloff broadens, JGB market getting jitters / Live-action Zelda movie / DRAM prices surge again / Toyotas US import tariffs /Oct tourist numbers +17.6% – Nikkei 225 -3.2%| ¥$155.04

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Pelham Smithers

PSA today 18 Nov: Tech selloff broadens, JGB market getting jitters / Live-action Zelda movie / DRAM prices surge again / Toyota's US import tariffs /Oct tourist numbers +17.6% – Nikkei 225 -3.2%| ¥$155.04

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman and Hiroyuki Terada
Tags: Luckland (9612 JT), Giftee (4449 JT), Fujikura (5803 JT), Ibiden (4062 JT), Mitsui Kinzoku (5706 JT), Toho (9602 JT), M3 Inc (2413 JT), Shift (3697 JT), BayCurrent (6532 JT), Metaplanet (3350 JT), SBI Holdings (8473 JT), Remixpoint (3825 JT), Kao Corp (4452 JT), Unicharm (8113 JT), Fast Retailing (9983 JT), Shionogi (4507 JT), Chugai Pharmaceutical (4519 JT), Daiichi Sankyo (4568 JT), Tokyo Steel (5423 JT), Nintendo (7974 JT), Sony (6758 JT), Dell (DELL US), Toyota Motor (7203 JT), Kyoritsu Maintenance (9616 JT), Treasure Factory (3093 JT), Park24 (4666 JT), Sanrio (8136 JT), TKP (3479 JT)
Main Points
 Japan shares slump as tech selloff broadens, JGB market getting jitters
 Nintendo releases first official photos of live-action Zelda movie
 DRAM prices surge again
 Toyota US import tariff forecast explained
 October inbound tourist numbers +17.6% YoY

18/11/2025 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

Pelham Smithers

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PSA Media & Entertainment: PS5 Outsells Switch 2 in Nov / Sony’s (6758 JT) Extraction Shooter Game Marathon Launches in March 2026

This note contains two articles related to Sony: One highlighting how November sales of the 5-yr-old PS5 is outselling the Switch 2 and an update on Sony’s new game Marathon. It is due in next year but PSA’s gaming expert, Pelham Smithers, is not expecting much.

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PSA Today 18 Dec: Oracle issues triggers another sell-off in tech hardware / PS5 outselling Switch 2 in US & Europe [Nov] / Sony to launch Marathon next year / Kakaku's acquisitions / Solid Nov KPIs for Anicom – Nikkei 225 -1.03% | ¥$155.86

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Thao Nguyen and Hiroyuki Terada Tags: Oracle (ORCL US), SoftBank Group (9984 JT), Lasertec (6920 JT), KHI (7012 JT), Japan Steel Works (5631 JT), Shift (3697 JT), BayCurrent (6532 JT), Nintendo (7974 JT), Sony (6758 JT), Honda (7267 JT), Nexperia (pvt), Wingtech (600745 CH), Koei Tecmo (3635 JT), Sega Sammy (6460 JT), Electronic Arts (EA US), Take Two (TTWO US), Capcom (9697 JT), Microsoft (MSFT US), BattleState Games (pvt), Nexon (3659 JT), Krafton (259960 KS), Kakaku.com (2371 JT), en Inc. (4849 JT), Anicom (8715 JT), AXA Direc...

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PSA Macro: Machinery Order Backlog Continues to Grow Despite Weak Defence, Electric Power Orders

Pelham Smithers notes that the machinery order data for October is something of a curate’s egg. The numbers are strong but the pressure on capacity remains strained. As a result, companies may start to focus on making savings in non-production areas, such as G&A.

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PSA today 18 Nov: Tech selloff broadens, JGB market getting jitters / Live-action Zelda movie / DRAM prices surge again / Toyota's US import tariffs /Oct tourist numbers +17.6% – Nikkei 225 -3.2%| ¥$155.04

PSA Media & Entertainment: PS5 Outsells Switch 2 in Nov / Sony’s (6758 JT) Extraction Shooter Game Marathon Launches in March 2026

PSA Today 18 Dec: Oracle issues triggers another sell-off in tech hardware / PS5 outselling Switch 2 in US & Europe [Nov] / Sony to launch Marathon next year / Kakaku's acquisitions / Solid Nov KPIs for Anicom – Nikkei 225 -1.03% | ¥$155.86

PSA Macro: Machinery Order Backlog Continues to Grow Despite Weak Defence, Electric Power Orders

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