Pelham Smithers Associates Ltd - PSA Today 29 July: US recession concerns boost yen / Guidance from Toho Titanium, Tokyo Ohka, Nissan, Denso, Aisin Komatsu / US Energy Bil, EVs, Toyota / NRIs Q1 – Nikkei 225 -0.05%

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Pelham Smithers
William Nestuk

PSA Today 29 July: US recession concerns boost yen / Guidance from Toho Titanium, Tokyo Ohka, Nissan, Denso, Aisin Komatsu / US Energy Bil, EVs, Toyota / NRI's Q1 – Nikkei 225 -0.05%

Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote and William Nestuk
Tags: NEC (6701 JT), Panasonic (6752 JT), Mitsubishi Electric (6503 JT), Murata (6981 JT), Keyence (6861 JT), Hino Motors (7205 JT), Nissan Motor (7201 JT), Hitachi Construction (6305 JT), Renesas (6723 JT), Advantest (6857 JT), Toyota Motor (7203 JT), Toho Titanium (5727 JT), Boeing (BA US), Osaka Titanium (5726 JT), Tokyo Ohka Kogyo (4186 JT), JSR (4185 JT), Shin-Etsu Chemical (4063 JT), Tesla (TSLA US), General Motors (GM US), Nidec (6594 JT), Denso (6902 JT), Aisin (7259 JT), Komatsu (6301 JT), Nomura Research Institute (4307 JT)
Main Points
• Fears of a US recession strengthen yen
• Toho Titanium’s timid guidance hits the shares
• Tokyo Ohka hikes FY22 guidance by 22%
• Nissan sold off on unchanged guidance numbers
• US Energy Bill – read across to EVs and Toyota
• Denso and Aisin disappoint
• Komatsu strong Q1 but FY22 guidance unchanged
• NRI FY22 Q1 outperforms on sales, meets OP expectations

29/07/2022 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

William Nestuk

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PSA Today 29 July: US recession concerns boost yen / Guidance from Toho Titanium, Tokyo Ohka, Nissan, Denso, Aisin Komatsu / US Energy Bil, EVs, Toyota / NRI's Q1 – Nikkei 225 -0.05%

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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