Pelham Smithers Associates Ltd - PSA Today 26 Oct: Triple woe / JGB yield curve / Biogen and AD / Quarterlies: Renesas Shinko, Capcom, Canon, Nitto Denko, HCM / KHI charge / Preview CyberAgent – Nikkei 225 -2.14% | ¥$150.77

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 26 Oct: Triple woe / JGB yield curve / Biogen and AD / Quarterlies: Renesas Shinko, Capcom, Canon, Nitto Denko, HCM / KHI charge / Preview CyberAgent – Nikkei 225 -2.14% | ¥$150.77

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk and Thao Nguyen
Tags: Google (GOOG US), Kokusai Electric (6525 JT), Eisai (4523 JT), Biogen (BIIB US), Fujitsu (6702 JT), Canon (7751 JT), Takeda (4502 JT), Canon Marketing (8060 JT), Canon Electronics (7739 JT), Kanto Denka (4047 JT), Nidec (6594 JT), Organo (6368 JT), Renesas (6723 JT), STMicroelectronics (STMPA FP), Texas Instruments (TXN US), NXP (NXPI US), Shinko Electric (6967 JT), Ibiden (4062 JT), Capcom (9697 JT), Nitto Denko (6988 JT), Bristo Myers Squibb (BMY US), Hitachi Construction Machinery (6305 JT), Komatsu (6301 JT), KHI (7012 JT), Pratt-Whitney, RTX Corp (RTX US), IHI (7013 JT), CyberAgent (4751 JT), Square Enix (9684 JT), Bilibili
Main Points
• Nasdaq, dollar, Treasuries provide triple whammy for Japan shares
• JGB yield curve flattening
• Biogen updates on AD treatment BIIB-080
• Renesas Q3 AOI -7% YoY
• Shinko 2Q OP -69% YoY, Ibiden -32% YoY
• Capcom FY23 Q2 OP falls short
• Canon FY23 Q3 OP +1% YoY
• Nitto Denko FY23 H1 OP -30% YoY
• HCM Q2 OP only 6% above consensus; full-year OP raised by 13% as expected
• KHI announces ¥58bil one-off charge for PW1100 engine defect
• CyberAgent’s FY23 preview

26/10/2023 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

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today 26 Oct: Triple woe / JGB yield curve / Biogen and AD / Quarterlies: Renesas Shinko, Capcom, Canon, Nitto Denko, HCM / KHI charge / Preview CyberAgent – Nikkei 225 -2.14% | ¥$150.77

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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