Pelham Smithers Associates Ltd - PSA Today 24 Apr: Results season underway / PPI / Canons Q1 / CyberAgents Q2 / Upbeat Nidec / Fanuc cautious / HCM disappoints / Asahi Kasei, Toray project / CUCs FY24 outlook below consensus – Nikkei 225 +2.42% | $154.91

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Pelham Smithers
William Nestuk

PSA Today 24 Apr: Results season underway / PPI / Canon's Q1 / CyberAgent's Q2 / Upbeat Nidec / Fanuc cautious / HCM disappoints / Asahi Kasei, Toray project / CUC's FY24 outlook below consensus – Nikkei 225 +2.42% | $154.91

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk and Hiroyuki Terada
Tags: Tesla (TSLA US), Nvidia (NVDA US), Renesas (6723 JT), Socionext (6526 JT), Nidec (6594 JT), Shimano (7309 JT), Obic (4684 JT), Obic Business Consultant (4733 JT), Fanuc (6954 JT), Yaskawa Electric (6506 JT), Harmonic Drive Systems (6324 JT), Resonac (4004 JT), Shin-Etsu Polymer (7970 JT), Shin-Etsu Chemical (4063 JT), Canon (7751 JT), Canon Marketing (8060 JT), CyberAgent (4751 JT), Stellantis (STLA US), HCM (6305 JT), Komatsu (6301 JT), Asahi Kasei (3407 JT), Toray (3402 JT), Sumitomo Chemical (4005 JT), Honda Motor (7267 JT), CUC (9158 JT)
Main Points
• Tokyo shares rally on Tesla, Nvidia news as Japan results season gets underway
• Services PPI remains above 2% YoY
• Canon: FY24 Q1 OP misses on weak camera market
• CyberAgent: FY24 Q2 OP ahead of expectations
• Nidec upbeat about new business opportunities
• Fanuc guidance cautious
• HCM results slightly disappoint
• Market unenthused by project news for Asahi Kasei and Toray
• CUC’s FY24 outlook below consensus

24/04/2024 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

William Nestuk

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PSA Today 24 Apr: Results season underway / PPI / Canon's Q1 / CyberAgent's Q2 / Upbeat Nidec / Fanuc cautious / HCM disappoints / Asahi Kasei, Toray project / CUC's FY24 outlook below consensus – Nikkei 225 +2.42% | $154.91

PSA Today 2 May: Mixed, with yen back at 155/$ / Considering Sony and Paramount / Japan's mini vehicles sales and Daihatsu TIS FY23 Q4 preview - Nikkei 225 -0.14%

PSA Today 1 May: Earnings rescue Japan / SQE's write-down move / Toyota FY23 Q4 preview / Genki Nabtesco / Insource April KPIs - Nikkei 225 -0.34%

PSA Health Care Equipment: Olympus (7733 JT) - FY24 Test on Clean Up Operations

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