Pelham Smithers Associates Ltd - PSA Today 30 Jan: Mixed day as results ramp up, yen lower on macro data / Results for Screen, Lasertec, Socionext, Komatsu, ZOZO, MCAP / Money Forwards losses narrow – Nikkei 225 -0.10% | ¥$153.85

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Lindsay Whipp
Nicky Karanasou-Demertzi
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 30 Jan: Mixed day as results ramp up, yen lower on macro data / Results for Screen, Lasertec, Socionext, Komatsu, ZOZO, MCAP / Money Forward's losses narrow – Nikkei 225 -0.10% | ¥$153.85

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, William Nestuk, Thao Nguyen, Lindsay Whipp, Hiroyuki Terada and Nicky Karanasou-Demertzi
Tags: Microsoft (MSFT US), Tesla (TSLA US), SanDisk (SNDK US), Kioxia (285A JT), Fujikura (5803 JT), Panasonic (6752 JT), Hitachi (6501 JT), Fujitsu (6702 JT), NEC Corp (6701 JT), Kinden (1944 JT), Konami (9766 JT), Casio (6952 JT), Nomura Research Institute (4307 JT),Tokuyama Corp (4043 JT), Hoya (7741 JT), Tokyo Ohka Kogyo (4186 JT), Screen Holdings (7735 JT), Tokyo Seimitsu (7729 JT), Kokusai Electric (6525 JT), Lasertec (6920 JT), Socionext (6526 JT), Komatsu (6301 JT), HCM (6305 JT), ZOZO (3092 JT), Money Forward (3994 JT), Obic Business Consultant (4733 JT), M&A Capital Partners (6080)
Main Points
 Mixed day as results season ramps up, economic data weakens yen
 Screen: FY25 Q3 OP -27% YoY
 Lasertec: FY26 Q2 OP -24% YoY
 Socionext FY25 Q3 OP ¥3.4bil -33%
 Komatsu: FY25 Q3 OP beats consensus by 7%
 ZOZO’s FY25 Q3: sales and net Income miss while OP beats
 Money Forward narrows FY26 net loss guidance
 M&A Capital Partners: Advances received hit historical high

30/01/2026 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

Joel Scheiman

Lindsay Whipp

Nicky Karanasou-Demertzi

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today 30 Jan: Mixed day as results ramp up, yen lower on macro data / Results for Screen, Lasertec, Socionext, Komatsu, ZOZO, MCAP / Money Forward's losses narrow – Nikkei 225 -0.10% | ¥$153.85

PSA Today 18 Feb: Higher with selected AI names rebounding / Considering the timing of the PS6 / EU's new EV rules / FY25 results for Trend Micro – Nikkei 225 +1.02% | ¥$153.45

PSA Technology: Why AI is More of a “Win” than a “Loss” for Japanese MLCC Makers

PSA Today 17 Feb: Holidays and strong yen sends Tokyo lower / Why AI is more of a “win” than a “loss” for Japanese MLCC makers / Automakers' business costs / Anicom meeting takeaway – Nikkei 225 -0.42% | ¥$152.90

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