PSA Today Apr 30: Earnings and macro concerns / CyberAgent's Uma Musume / Results comments on TEL, Lasertec, Alps Alpine, MonotaRO, Shin-Etsu, Hoya, Komatsu, Nabtesco – Nikkei -0.83%
Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman and William NestukNikkei ¥28,812.63 (-¥241.34 / -0.83%); Topix ¥1,898.24 (-¥10.82 / -0.57%); ¥/$108.85
Tags: Sony (6758 JT),CyberAgent (4751 JT), Fujitsu (6702 JT), Hitachi (6501 JT), Bain, Hitachi Metals (5486 JT), Z Holdings (4689 JT), Murata (6981 JT), Hoya (7741 JT), Toyota Motor (7203 JT), Ford (F US), Supercell, MZ, Netflix (NFLX US), Tokyo Electron (8035 JT), Intel (INTC US), Lasertec (6920 JT), Advantest (6857 JT), Alps Alpine (6770 JT), Minebea Mitsumi (6479 JT), MonotaRO (3064 JT), ZOZO (3092 JT), Shin-Etsu Chemical (4063 JT), Komatsu (6301 JT), Hitachi Construction Machinery (6305 JT), Nabtesco (6268 JT), Sany Heavy Ind (600031 CH)
Main Points
• Topix slides on earnings, economic concerns
• CyberAgent and the Uma Musume effect
• TEL 4Q FY20 OP +57% YoY, Lasertec +645% YoY
• Alps Alpine in another miss
• MonotaRO FY21 1Q OP +33% YoY
• Shin-Etsu continues to grow core businesses
• Hoya prepares to expand EUV blanks again
• Komatsu Agrees with HCM: FY21 China Excavator Market -20%~-30% YoY
• Very positive Nabtesco FY21 Q1: Results in-line but shocking record high orders in components
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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