Pelham Smithers Associates Ltd - PSA Today 26 Jan: Intervention fears, poor polling, weak US$ / Election poll / Dec sales of Switch vs PS5 / Fanucs weak Q3 / Challenges ahead for MMCs new president / NRI Q3 preview / Insource Q1 results – Nikkei 225 -1.79% / ¥$154.11

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Julie Boote
Lindsay Whipp
Pelham Smithers
William Nestuk

PSA Today 26 Jan: Intervention fears, poor polling, weak US$ / Election poll / Dec sales of Switch vs PS5 / Fanuc's weak Q3 / Challenges ahead for MMC's new president / NRI Q3 preview / Insource Q1 results – Nikkei 225 -1.79% / ¥$154.11

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Will Nestuk, Lindsay Whipp and Hiroyuki Terada
Tags: Nitori (9843 JT), Sapporo (2501 JT), Nichirei (2871 JT), Disco (6146 JT), Socionext (6526 JT), Kokusai Electric (6525 JT), Kioxia (285A JT), Advantest (6857 JT), Toho Zinc (5707 JT), Dowa Holdings (5714 JT), Sumitomo Metal Mining (5713 JT), Capcom (9697 JT), Sony (6758 JT), Fujitsu (6702 JT), Nitto Boseki (3110 JT), Toyota Motor (7203 JT), Honda Motor (7267 JT), Nintendo (7974 JT), Koei Tecmo (3635 JT), Fanuc (6954 JT), Nvidia (NVDA US), Mitsubishi Motors (7211 JT), Nissan Motor (7201 JT), Nomura Research Institute (4307 JT), Insource (6200 JT)
Main Points
 Japan shares sold off as yen surges on intervention fears, poor polling, USD weakness
 Mainichi poll shows election not straightforward for Takaichi
 Nintendo sells 3.8mil Switch 2 consoles in Dec 2025, Sony sells 3.4mil PS5s
 Fanuc: FY25 Q3 OP disappoints
 Huge challenges await Mitsubishi Motors’ new President
 NRI: FY25 Q3 preview
 Insource: sluggish FY26 Q1 but outlook improving

26/01/2026 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

Julie Boote

Lindsay Whipp

Pelham Smithers

William Nestuk

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PSA Today 26 Jan: Intervention fears, poor polling, weak US$ / Election poll / Dec sales of Switch vs PS5 / Fanuc's weak Q3 / Challenges ahead for MMC's new president / NRI Q3 preview / Insource Q1 results – Nikkei 225 -1.79% / ¥$154.11

PSA Internet / eCommerce: The Rise of GenAI Apps in Japan

PSA Today 28 Jan: AI wins edge out FX-linked losses / Advantest's Q3 / Suzuki and the EU-India deal / Maruo's calcium carbonates / J-Tech at a 1-mth low / TIS Q3 preview – Nikkei 225 +0.05 | ¥$152.64

PSA Media & Entertainment: Capcom (9697 JT) FY25 Q3 OP +45% YoY, Beats Consensus

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