Pelham Smithers Associates Ltd - PSA Today 28 Apr: Sentiment uptick / FY24s for Hitachi, NEC / Socionext woes / TDK, Komatsu: weak FY25 guidance / Toyota Industries to be taken private? / JMDC preview / CUC FY25 guidance conservative – Nikkei 225 +0.38% | ¥$143.83

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Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Lindsay Whipp
Pelham Smithers
William Nestuk

PSA Today 28 Apr: Sentiment uptick / FY24s for Hitachi, NEC / Socionext woes / TDK, Komatsu: weak FY25 guidance / Toyota Industries to be taken private? / JMDC preview / CUC FY25 guidance conservative – Nikkei 225 +0.38% | ¥$143.83

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Lindsay Whipp and Hiroyuki Terada
Tags: Toyota Motor (7203 JT), Toyota Industries (6201 JT), Namura Shipbuilding (7014 JT), Mitsui E&S (7003 JT), Anritsu (6754 JT), Advantest (6857 JT), Disco (6146 JT), Tokyo Seimitsu (7729 JT), ARE Holdings (5857 JT), Shin-Etsu Chemical (4063 JT), Sakura Internet (3778 JT), Daiwa Securities (8601 JT), Japan Exchange (8697 JT), Sumitomo Heavy (6302 JT), Nitto Denko (6988 JT), Hitachi (6501 JT), NEC Corp (6701 JT), Socionext (6526 JT), ZTE (763 HK), TDK (6762 JT), Denso (6902 JT), Seven & I Holdings (3382 JT), Komatsu (6301 JT), HCM (6305 JT), JMDC (4483 JT), CUC (9158 JT)
Main Points
 Tokyo shares gain on improving sentiment, positive news flow
 Hitachi FY24 OP +29% YoY, guiding for +3% growth in FY25
 NEC Corp FY24 Q4 OP +10% YoY, doesn’t officially produce profit guidance
 Socionext FY24 Q4 OP -43% YoY
 TDK’s FY25 guidance is below consensus
 Toyota Industries to be taken private?
 Komatsu strong FY24 Q4 OP; weak FY25 OP guidance
 JMDC: FY24 Q4 preview
 CUC FY24 OP ahead of guidance, FY25 outlook conservative

28/04/2025 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

Lindsay Whipp

Pelham Smithers

William Nestuk

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PSA Today 28 Apr: Sentiment uptick / FY24s for Hitachi, NEC / Socionext woes / TDK, Komatsu: weak FY25 guidance / Toyota Industries to be taken private? / JMDC preview / CUC FY25 guidance conservative – Nikkei 225 +0.38% | ¥$143.83

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

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