PSA Today 31 Oct: Shares rise as no change to rates, GDP, inflation forecasts raised / Results for Murata, Advantest, Socionext, Npn Sanso, Hoya, Denso, Aisin, Fanuc, Nabtesco, ZOZO / HCM CEO's upbeat comments – Nikkei 225 +0.53% | ¥$150.35
PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, William Nestuk, and Thao NguyenTags: Mitsui OSK (9104 JT), Panasonic (6752 JT), NEC Corp (6701 JT), Advantest (6857 JT), Lasertec (6920 JT), Murata (6981 JT), Daiichi Sankyo (4568 JT), Otsuka Holdings (4578 JT), Shionogi (4507 JT), Broadcom (AVGO US), Skyworks (SWKS US), TSMC (2330 TT), Socionext (6526 JT), Nvidia (NVDA US), Nippon Sanso Holdings (4901 JT), Mitsubishi Chemical Group (4188 JT), Hoya (7741 JT), Shin-Etsu Chemical (4063 JT), Hitachi Construction Machinery (6305 JT), Komatsu (6301 JT), Caterpillar (CAT US), Denso (6902 JT), Toyota Motor (7203 JT), Daihatsu, Aisin (7259 JT), Fanuc (6954 JT), Nabtesco (6268 JT), ZOZO (3092 JT)
Main Points
• Japan shares rise as BoJ leaves rates unchanged, raises GDP, inflation forecasts
• Murata FY23 Q2 OP -17% YoY, better than expected, revises up full-year OP
• Advantest FY23 2Q OP -51% YoY, cuts OP target to ¥80bil
• Socionext FY23 Q2 OP +76% YoY, ups FY23 OP target to ¥29bil from ¥22.5bil
• Nippon Sanso revises up on strong pricing
• Hoya guides for steady but slow IT recovery
• HCM Mining very strong
• Denso to see big improvement in H2
• Aisin: cost reduction and recovery
• Fanuc: no near-term positive
• Nabtesco: no robot gear recovery for now
• ZOZO’s FY23 Q2 OP earnings miss
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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