PSA Today Aug 1: Weak yen, strong earnings / KDDi / Capcom, SQE / Mazda / TDK / Nippon Shokubai / Daifuku / Nabtesco - Nikkei +0.14%
Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman and William NestukNikkei ¥21,540.99 (+¥19.46 / +0.09%); Topix ¥1,567.35 (+¥2.21 / +0.14%); ¥/$109.20
Tags: TDK (6762 JT), Murata (6981 JT), Taiyo Yuden (6976 JT), NEC (6701 JT), Denso (6902 JT), Panasonic (6752 JT), KDDi (9433 JT), Capcom (9697 JT), Aeon Fantasy (4343 JT), Square Enix (9684 JT), Mazda (7261 JT), TDK (6762 JT), Huawei (pvt.), Hoya (7741 JT), Nippon Shokubai (4114 JT), Sanyo Chemical (4471 JT), Daifuku (6383 JT), Nabtesco (6268 JT)
Main Points
• Weak yen, good earnings lift Nikkei
• KDDi 1Q miss (but does it matter?)
• Capcom gets year off to good start
• Mazda Q1 profits drop on low sales, high costs, forex losses
• TDK’s Q2 guidance is encouraging
• Nippon Shokubai revises down early
• Daifuku hit by Nikkei saying OP will fall by 20%
• Nabtesco Q1 celebrated – for now
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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