Pelham Smithers Associates Ltd - PSA Today 5 Nov: slide on China, yen / SQE 2Q / Honda cuts FY21 numbers / MMC raises FY21 OP / Subaru lowers guidance / Daikin strong in China / Minebea Mitsumi tweaks FY21 OP / Kakakus 2Q misses / Strong Q2 for TIS – Nikkei 225 - 0.61%

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today 5 Nov: slide on China, yen / SQE 2Q / Honda cuts FY21 numbers / MMC raises FY21 OP / Subaru lowers guidance / Daikin strong in China / Minebea Mitsumi tweaks FY21 OP / Kakaku's 2Q misses / Strong Q2 for TIS – Nikkei 225 - 0.61%

Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, Will Nestuk, Thao Nguyen and Lindsay Whipp
Tags: Kaisa Group (1638 HK), Google (GOOG US), Tokyo Electron (8035 JT), Lasertec (6920 JT), Nippon Steel (5401 JT), Nintendo (7974 JT), Keyence (6861 JT), Internet Initiative Japan (3774 JT), Rakus (3923 JT), Sansan (4443 JT), Shift (3697 JT), Infomart (2492 JT), Hitachi (6501 JT), Shin-Etsu Polymer (7970 JT), Sony (6758 JT), Square Enix (9684 JT), Activision (ATVI US), Disney (DIS US), Murata (6981 JT), Honda (7267 JT), Toyota Motor (7203 JT), Mitsubishi Motors (7211 JT), Subaru (7270 JT), Daikin (6367 JT), Minebea Mitsumi (6479 JT), Kakaku.com (2371 JT), TIS Inc (3626 JT), Nomura Research Institute (4307 JT), MFEC (MFEC TB)
Main Points
• Tokyo slides on yen, China
• Square Enix 2Q FY21 OP +66% YoY
• Honda cuts FY21 forecast on lower auto sales
• Mitsubishi Motors raises profit forecast
• Subaru lowers guidance numbers on supply crisis
• Daikin strong in China, Europe; concerns for Asia, supply chain
• MinebeaMitsumi bumps up OP by only 3% on bearings, Mitsumi performance
• Kakaku.com’s FY21 Q2 Results Miss
• TIS smashes through FY21 Q2 estimates, raises FY forecasts

05/11/2021 8 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

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today 5 Nov: slide on China, yen / SQE 2Q / Honda cuts FY21 numbers / MMC raises FY21 OP / Subaru lowers guidance / Daikin strong in China / Minebea Mitsumi tweaks FY21 OP / Kakaku's 2Q misses / Strong Q2 for TIS – Nikkei 225 - 0.61%

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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