Report
Joel Scheiman ...
  • Pelham Smithers
  • Thao Nguyen
  • William Nestuk

PSA Today Feb 13:Yen up, market down / Kuroda reappointed / Flu and Shionogi / Sony and Peter Rabbit / Fujifilm's Xerox move resisted / Nabtesco's poor guidance / Avex turns in Q3 - Nikkei -0.65%

PSA Today Feb 13: Japan Market Comment by Pelham Smithers, Joel Scheiman, William Nestuk and Thao Nguyen
Nikkei ¥21,244.68 (-¥137.94/ -0.65%); Topix- ¥1,716.78 (-¥15.19 / -0.88%); ¥/$108.33
Tags: Shionogi (4507 JP), Roche (ROG SW), Gilead (GILD US), Astellas (4503 JP), Fujifilm (4901 JP), Xerox Corp (XRX US), Nabtesco (6268), Avex (7860 JP)
Main Points at a Glance
• Market slides as yen heads towards ¥107/$
• Kuroda reappointed BoJ Governor
• Shionogi gains Japanese approval for baloxavir
• Sony’s Peter Rabbit opens with US$25mil box-office take
• Fujifilm Shares Weaker after Xerox Takeover Resistance
• Nabtesco shares react to disappointing guidance
• Avex saw increases in both sales and profit in Q3  

Underlyings
Astellas Pharma Inc.

Astellas Pharma is engaged in the development, research, manufacture, and sale of pharmaceuticals. Co. operates its operation in Japan, Americas, Europe, and Asia/Oceania. Co.'s principal product for the global market include "Xtandi" a therapeutic agent for prostatic cancer, "Eligard" a luteinizing hormone-releasing hormone (LHRH) agonist for the treatment of prostate cancer,"Prograf" an immunosuppressant used to prevent rejection in organ transplants, "Vesicare" a treatment for overactive bladder, "Harnal ( "Omnic" in the U.S. and Europe)" an 1 blocking agent for prostatic and urethral smooth muscle, and "Fungurad ("Mycamine" in the U.S. and Europe)" a candin-type antifungal agent.

Avex

Avex Group Holdings is a holding company. Co. operates in three business segments. Music segment is engaged in the planning, producing and selling of music contents, as well as the digital distribution of music contents, and music publishing. Video segment is engaged in the planning and producing of video contents, as well as film distribution. Management/Live segment is engaged in the management of artists, actors, and athletes; planning, producing and management of live entertainments events; and the provision of merchandising.

FUJIFILM Holdings Corp

FUJIFILM Holdings is a holding company engaged in the manufacture and sale of imaging information products. Co.'s principal businesses are divided into three segments: imagining solution, information solution and document solution. Co.'s principal products and services are color films, digital cameras "FinePix," photofinishing equipment, color paper, as well as chemicals and services for photofinishing; equipment and materials for medical systems and life sciences, equipment and materials for graphic arts, flat panel display materials, recording media and optical devices; office copy machines/MFPs, printers, as well as production systems and services.

Gilead Sciences Inc.

Gilead Sciences is a research-based biopharmaceutical company that discovers, develops and commercializes medicines. The company's primary areas of focus include viral diseases, inflammatory and fibrotic diseases and oncology. The company's products include: Biktarvy for the treatment of HIV-1 infection in certain patients; Vosevi?, a single tablet regimen of sofosbuvir, velpatasvir and voxilaprevir for the re-treatment of chronic hepatitis C virus infection in adults; Vemlidy? for the treatment of chronic hepatitis B virus infection in adults with compensated liver disease; and Yescarta (axicabtagene ciloleucel) for the treatment of adult patients with relapsed or refractory large B-cell lymphoma.

Nabtesco Corporation

Nabtesco is engaged in the design, manufacture, sales, and repair of industrial machinery and components. Co. operates in three business segments: component solutions, transport solutions and accessibility solutions. Co.'s principal products are high precision reducers and actuators for industrial robots, construction machinery, solar tracking equipment, automatic door drive units, automobile air-break systems, automatic testing/training equipment, connecting device, various types of actuators, remote control systems for marine vessels, automatic door systems, smoke exhausting systems and platform safety system as well as nursing care equipment and industrial equipment.

Roche Holding Ltd

Roche Holding is a healthcare company. Co. operates in two Divisions, Pharmaceuticals and Diagnostics. Co.'s pharmaceuticals division is comprised of two business segments Roche Pharmaceuticals and Chugai. Co.'s pharmaceuticals division provides therapies including Cotellic, in combination with Zelboraf for advanced melanoma, and Alecensa for a specific type of lung cancer. Co.'s diagnostics division consists of four business areas: Diabetes Care, Molecular Diagnostics, Professional Diagnostics and Tissue Diagnostics. Co.'s diagnostics division provides in vitro diagnostic tests, used by healthcare providers to screen, diagnose and monitor therapies.

Shionogi & Co. Ltd.

Shionogi is the parent company of a group engaged in the research and development, purchase, manufacture and sale of pharmaceutical products. Co.'s principal prescription drugs are "Crestor Tablet" for hyperlipidemia treatment, "Irbetan Tablet" for antihypertensive, "Cymbalta Capsule" for treatment for depression and depressive symptoms, "Finibax" and "Finibax Kit" for carbapenem antibiotic, "Differin Gel" for acne vulgaris treatment, "Pirespa Tablet" for idiopathic pulmonary fibrosis treatment, and "OxyContin Tablet" and "OxiNorm Powder" for cancer pain analgesic, and OTC drugs including "Sedes First," "Sedes Hi G," "Pylon," "Rapiacta Bag" and "Rapiacta Vial."

Sony Corporation

Sony is engaged in the development, design, production, manufacture, offer and sale of various kinds of electronic equipment, instruments and devices for consumer, professional and industrial markets such as network services, game hardware and software, televisions, audio and video recorders and players, still and video cameras, mobile phones, and semiconductors. Co. is engaged in the development, production, manufacture, and distribution of recorded music and the management and licensing of the words and music of songs as well as the production and distribution of animation titles. Co. is also engaged in the production, acquisition and distribution of motion pictures and television.

Xerox Holdings Corporation

Xerox is a provider of digital print technology and intelligent work solutions. The company operates in three main areas: Intelligent Workplace Services, which includes a continuum of solutions and services consisting of managed print services, industry digital solutions, personalization and communication software, content management solutions, and digitization services; Workplace Solutions, which is made up of two product groups, Entry and Mid-Range, which share common technology, manufacturing and product platforms; and Production Solutions, which enable full-color, on-demand printing of a range of applications, including variable data for personalized content and one-to-one marketing.

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
Joel Scheiman

Pelham Smithers

Thao Nguyen

William Nestuk

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