Pelham Smithers Associates Ltd - PSA Today 7 Feb: Higher on rotation into domestic demand names / Considering SQEs corporate culture / Q3s for Taiyo Yuden, Asahi Kasei, Mitsui Chemicals, Suzuki Motor, Daikin, IIJ – Nikkei 225 -0.11% | ¥$147.94

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Lindsay Whipp
Pelham Smithers
William Nestuk

PSA Today 7 Feb: Higher on rotation into domestic demand names / Considering SQE's corporate culture / Q3s for Taiyo Yuden, Asahi Kasei, Mitsui Chemicals, Suzuki Motor, Daikin, IIJ – Nikkei 225 -0.11% | ¥$147.94

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote, William Nestuk and Lindsay Whipp
Tags: KDDI (9433 JT), Lawson (2651 JT), Mitsubishi Corp (8058 JT), Toyota Motor (7203 JT), Denso (6902 JT), Nissan Motor (7201 JT), Suzuki Motor (7269 JT), GS Yuasa (6674 JT), LY Corp (4689 JT), Daikin (6367 JT), Sharp (6753 JT), Mitsubishi Heavy (7011 JT), Keyence (6861 JT), M3 (2413 JT), Sysmex (6869 JT), Fanuc (6954 JT), Olympus (7733 JT), Nintendo (7974 JT), Square Enix (9684 JT), Tose (4728 JT), Capcom (9697 JT), Colopl (3668 JT), Gumi (3903 JT), Disney (DIS US), Embracer (EMBRACB SS), Take Two (TTWO US), Koei Tecmo (3635 JT), Konami (9766 JT), Asahi Chemical (3407 JT), Mitsui Chemicals (4183 JT), Taiyo Yuden (6976 JT), Murata (6981 JT), Maruti Suzuki (MSIL IN), Internet Initiative Japan Inc (3774 JT)
Main Points
• Tokyo shares higher on rotation into domestic demand names
• Can Square Enix’s new CEO change the firm’s culture, and does it matter?
• Taiyo Yuden FY23 Q3 OP -24% YoY, revises down
• Chemical company results: Asahi Kasei / Mitsui Chemicals
• Suzuki FY23 Q3 earnings show first signs of core operation weakness
• Daikin sinks on weaker FY24 outlook
• IIJ FY23 Q3 misses on OP but beats on sales

07/02/2024 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

Lindsay Whipp

Pelham Smithers

William Nestuk

Other Reports from Pelham Smithers Associates Ltd

Hiroyuki Terada ... (+8)

Hiroyuki Terada
Joel Scheiman
Julie Boote
Lindsay Whipp
Nia Dokova
Pelham Smithers
Thao Nguyen
William Nestuk

The PSA Research Round-Up for the Two-Week Period Covering 11~25 April 2025

Weekly Comment Summary Two weeks ago, we wrote here about how US trade policy was generating a very “top down” market. Since then, uncertainty has replaced fear, and this has led to a very “bottom up" market, with the winners those delivering good / better-than-expected news, explains Pelham Smithers. PSA Company Visits, Tours and Interviews Visited: TKP (3479 JT), JINS Holdings (3046 JT), Treasure Factory (3093 JT), Koshidaka Holdings (2157 JT) 1-1 Call with: Insource (6200 JT) Presentations at: Shin-Etsu Chemical (4063 JT), Nitto Denko (6988 JT), Fujifilm Holdings (4901 JT), Zeon Corp...

3h / 9m 3h / 9m 1 EN

Hiroyuki Terada

Hiroyuki Terada

PSA Broadline Retail: Treasure Factory (3093 JT): Inbound Sales Still Solid in Q1

Second-hand retailer Treasure Factory has an advantage over mainstream luxury goods retailers, explains analyst Hiroyuki Terada in this update which adjusts PSA’s forecasts downwards and introduces our FY27 numbers.

3h / 39m 3h / 39m 1 EN

Joel Scheiman ... (+6)

Joel Scheiman
Julie Boote
Lindsay Whipp
Nia Dokova
Pelham Smithers
William Nestuk

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

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Lindsay Whipp and Nia Dokova Tags: Renesas (6723 JT), Fujikura (5803 JT), Furukawa Electric (5801 JT), Nidec (6594 JT), Fujitsu (6702 JT), Hitachi (6501 JT), NEC Corp (6701 JT), Canon (7751 JT), Shin-Etsu Chemical (4063 JT), Zeon Corp (4205 JT), Tokyo Steel (5423 JT), Daiichi Sankyo (4568 JT), Chugai Pharmaceutical (4519 JT), Advantest (6857 JT), Teradyne (TER US), Lam Research (LRCX US), Tokyo Seimitsu (7729 JT), Ulvac (6728 JT), Nissan Motor (7201 JT), Honda Motor (7267 JT), Hino Motors (7205 JT...

6h / 45m 6h / 45m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

PSA Today 7 Feb: Higher on rotation into domestic demand names / Considering SQE's corporate culture / Q3s for Taiyo Yuden, Asahi Kasei, Mitsui Chemicals, Suzuki Motor, Daikin, IIJ – Nikkei 225 -0.11% | ¥$147.94

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

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe