Pelham Smithers Associates Ltd - PSA Today 7 May: US China trade talk hope / PSA heads up on Sony / Nintendo QA / TOY results 8 May / SRE Holdings Q4 / Appier Q1 preview / Mercari FY24 Q3 / Insource FY25 1H - Nikkei 225 -0.14% – Nikkei 225 -0.14% | ¥143.01

Report

Pelham Smithers Associates Ltd

Hiroyuki Terada ...

Joel Scheiman
Julie Boote
Lindsay Whipp
Nia Dokova
Pelham Smithers
Thao Nguyen

PSA Today 7 May: US China trade talk hope / PSA heads up on Sony / Nintendo Q&A / TOY results 8 May / SRE Holdings Q4 / Appier Q1 preview / Mercari FY24 Q3 / Insource FY25 1H - Nikkei 225 -0.14% – Nikkei 225 -0.14% | ¥143.01

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, Lindsay Whipp, Thao Nguyen, Nia Dokova and Hiroyuki Terada
Tags: M3 (2413 JT), Nxera (4565 JT), Ono Pharmaceutical (4528 JT), Eisai (4523 JT), Sumitomo Pharma (4506 JT), Shionogi (4507 JT), Otsuka Holdings (4578 JT), Daiichi Sankyo (4568 JT), Torii Pharmaceutical (4551 JT), Japan Tobacco (2914 JT), UBE Corp (4208 JT), Toyota Motor (7203 JT), Mitsubishi Motors (7211 JT), Sony (6758 JT), Warner Music Group (WMG US), Huawei (pvt), Apple (AAPL US), Alphabet (GOOGL US), Universal Music (UMG NA), Honda (7267 JT), Nintendo (7974 JT), Volvo Cars (VOLCAR SS), Volkswagen (VOW GR), BMW (BMW GR), Toyota Industries (6201 JT), SRE Holdings (9682 JT), Appier (4180 JT), AdCreative.ai (pvt), Money Forward (3994 JT), Sansan (4443 JT), PKSHA (3993 JT), Mitsubishi Motors (7211 JT), Mercari (4385 JT), Insource (6200 JT)
Main Points
 Japan shares gain on US / China trade talk hopes [again]
 Are we in a “worst case” scenario for Sony?
 Bloomberg / PSA Nintendo Q&A
 Will Toyota provide FY25 guidance numbers?
 SRE Holdings: FY24 Q4 and full-year preview
 Appier: FY25 Q1 preview
 Mercari FY25 Q3 OP beats consensus estimates, no change to full-year targets
 Insource FY25 1H results, full-year guidance revised up

07/05/2025 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

Julie Boote

Lindsay Whipp

Nia Dokova

Pelham Smithers

Thao Nguyen

Other Reports from Pelham Smithers Associates Ltd

Hiroyuki Terada ... (+8)

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The PSA Research Round-Up for the Week to 30 May 2025

Weekly Comment Summary To dampen down rice prices, the LDP government has released rice stockpiles. However, with cereal prices rising yet again in the Tokyo CPI series, Pelham Smithers asks whether this is too little, too late, ahead of July’s Upper House election, and whether we might we see tax cuts as a result Weekly Comment Summary Reports / Flash Notes Summaries 1. Santen Pharma (4536 JT) – Looking into the Future 2. CUC (9158 JT) – Short Break till Q2 3. IT Services: Share Price Appreciation, Confident FY25 Forecasts and Some Attractive Valuations – Partic...

May 30, 2025 May 30, 2025 1 EN

Lindsay Whipp

Lindsay Whipp

PSA IT Services: Share Price Appreciation, Confident FY25 Forecasts and Some Attractive Valuations

Lindsay Whipp reviews the recent earnings performance of the IT Sector and assesses their outlook for FY25. Orders are strong, backlogs are growing and there are some attractive valuations – particularly for IIJ.

May 30, 2025 May 30, 2025 1 EN

Hiroyuki Terada

Hiroyuki Terada

PSA Healthcare Service Providers: CUC (9158 JT) – Short Break till Q2

In the aftermath of its rival companies’ having been found to be over-delivering services to hospice patients, CUC is concerned about the upcoming hospice medical fee revision scheduled for April 2026. Analyst Hiroyuki Terada finetunes his forecasts.

May 29, 2025 May 29, 2025 1 EN

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PSA Today 7 May: US China trade talk hope / PSA heads up on Sony / Nintendo Q&A / TOY results 8 May / SRE Holdings Q4 / Appier Q1 preview / Mercari FY24 Q3 / Insource FY25 1H - Nikkei 225 -0.14% – Nikkei 225 -0.14% | ¥143.01

The PSA Research Round-Up for the Week to 30 May 2025

PSA IT Services: Share Price Appreciation, Confident FY25 Forecasts and Some Attractive Valuations

PSA Healthcare Service Providers: CUC (9158 JT) – Short Break till Q2

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