Report

PSA Today Aug 14th: Strong Yen/June GDP +1.0% QoQ, +4.0% Annualized/Toshiba, Toshiba Memory/Sony, EMI Publishing/Recruit's FY17 Q1/Trend Micro's FY17 Q2/Avex Off to a Rough Start/Ferrotec's Upward Revision - Ni

Japan Market Comment by Pelham Smithers, William Nestuk and Thao Nguyen
Nikkei ¥19,537.10 (-¥192.64 / -0.98%); Topix ¥1,599.06 (-¥18.19 / -1.12%); ¥/$109.56
Tags: Daifuku (6383), Yaskawa (6506), Toshiba (6502), Western Digital (WDC US), SK Hynix (000660 KS), Hon Hai (2317 TT), Sony (6758), Recruit Holdings (6098), Trend Micro (4704), istyle (3660), Avex (7860), Ferrotec (6890)
Strong yen sends market lower after holiday
New highs for Yaskawa and Daifuku – again

  • June GDP up 1.0% QoQ, 4.0% annualized
  • Toshiba – Issues over payment timings for Toshiba Memory
  • Sony – Looking to acquire remainder of EMI Publishing?
  • Recruit Holdings – Good FY17 Q1 but concerns on overseas strategy and high valuations remain
  • Enterprise drives FY17 Q2 at Trend Micro
  • Heavy investment burdens continue to weigh on iStyle
  • Avex off to a rough start
  • Further upside to Ferrotec’s upward revision
Provider
Pelham Smithers Associates Ltd
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. 

Analysts
Pelham Smithers

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