Pelham Smithers Associates Ltd - PSA Today 2 August: Markets slump / 2023 Q2 results thus far fails to impress / Tokyo Seimitsus Q1 orders / TDK revises down / Subarus strong Q1 / Readacross from CAT results, grim outlook on China / NTT Data Q1 preview – Nikkei 225 -2.30

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 2 August: Markets slump / 2023 Q2 results thus far fails to impress / Tokyo Seimitsu's Q1 orders / TDK revises down / Subaru's strong Q1 / Readacross from CAT results, grim outlook on China / NTT Data Q1 preview – Nikkei 225 -2.30

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote, William Nestuk, Thao Nguyen and Lindsay Whipp
Tags: AMD (AMD US), Tokyu Corp (9005 JT), Eneos (5020 JT), East Japan Railway (9020 JT), Tokio Marine Holdings (8766 JT), MS&AD Insurance (8725 JT), Sompo Holdings (8630 JT), Nomura Holdings (8604 JT), Konica Minolta (4902 JT), Canon (7751 JT), Ricoh (7752 JT), Sega Sammy (6460 JT), Rohm (6963 JT), Rakuten (4755 JT), Toyota Motor (7203 JT), Subaru (7270 JT), Nidec (6594 JT), Tokyo Steel (5423 JT), Fanuc (6954 JT), Advantest (6857 JT), Capcom (9697 JT), SoftBank Group (9984 JT), Tokyo Seimitsu (7729 JT), TDK (6762 JT), Hitachi Construction Machinery (6305 JT), Komatsu (6301 JT), Caterpillar (CAT US), NOK (7240 JT), Nabtesco (6268 JT), NTT Data (9613 JT), TIS Inc (3626 JT), Nomura Research Institute (4307 JT), NS Solutions (2327 JT), IIJ (3774 JT)
Main Points
• Tokyo shares slump on US credit downgrade, disappointing earnings
• 2023 Q2 results season, thus far, fails to impress
• Tokyo Seimitsu FY23 Q1 orders -36% YoY
• TDK revises down on slumping HDD demand
• Subaru FY23 Q1 earnings beats consensus estimates
• HCM / Komatsu rise for 3rd straight day on Caterpillar results
• Weak China data points: Caterpillar, NOK, Nabtesco, Fanuc
• NTT Data FY23 Q1 preview: many moving parts

02/08/2023 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

Joel Scheiman

Julie Boote

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today 2 August: Markets slump / 2023 Q2 results thus far fails to impress / Tokyo Seimitsu's Q1 orders / TDK revises down / Subaru's strong Q1 / Readacross from CAT results, grim outlook on China / NTT Data Q1 preview – Nikkei 225 -2.30

The PSA Research Round-Up for the Two-Week Period Covering 11~25 April 2025

PSA Broadline Retail: Treasure Factory (3093 JT): Inbound Sales Still Solid in Q1

PSA Today 25 Apr: Most of tariff fall recouped now / Tokyo CPI / Analyst articles on Advantest, Nissan, Hino, Denso, HCM, NRI, NTT Data, Chugai, DSK – Nikkei 225 +1.90% | ¥$143.55

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