- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
PSA Today 27 Apr: Encouraged by better overall earnings / Results comments on Hitachi / Shinko Electric / Renesas / Astellas / JSR / Nissan / TDK / Denso / Fanuc / ZOZO / TIS – Nikkei 225 +0.15%
Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote, William Nestuk, Thao Nguyen and Lindsay WhippTags: Nomura (8604 JT), Advantest (6857 JT), Activision (ATVI US), Microsoft (MSFT US), Sony (6758 JT), Canon (7751 JT), Omron (6645 JT), Daiichi Sankyo (4568 JT), Chugai Pharmaceutical (4519 JT), Astellas Pharma (4503 JT), Eisai (4523 JT), Biogen (BIIB US), Toyota Motor (7203 JT), Denso (6902 JT), Koito Manufacturing (7276 JT), Aisan Industry (7283 JT), Hitachi (6501 JT), Hitachi Construction Machinery (6305 JT), Siemens (SIE GY), Shinko Electric (6967 JT), Renesas (6723 JT), TSMC (2330 TT), Takeda Pharmaceutical (4502 JT), JSR (4185 JT), Shin-Etsu Chemical (4063 JT), TDK (6762 JT), Texas Instruments (TNX US), Nissan Motor (7201 JT), Fanuc (6954 JT), ZOZO (3092 JT), TIS Inc (3626 JT), Nomura Research Institute (4307 JT), NTT Data (9613 JT), Sequent, Chardon Holdings
Main Points
• Japan shares rally as earnings sentiment improves
• Hitachi FY22 OP +1% YoY
• Shinko Electric FY22 Q4 OP -71% YoY
• Renesas FY23 (Dec) Q1 OP +24% YoY
• Astellas Q4 loss widens
• JSR sees a FY23 recovery, but below consensus
• Shin-Etsu momentum slows, but absolute earnings level still high
• TDK strengthens its focus on automotive sales
• Nissan releases new FY22 guidance numbers
• Denso FY23 OP guidance conservative
• Fanuc rises on low expectations and strong robotics
• ZOZO’s FY22 results and FY23 guidance meet expectations
• TIS FY22 Q4 and full-year preview
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.
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