PSA Today Jan 31: Results comments on Canon, Nintendo, Murata, TDK, Hino, Fanuc, Komatsu, NRI – Nikkei +1.06%
Japan Market Comment by Julie Boote, Joel Scheiman, William Nestuk and Lindsay WhippNikkei ¥20,773.49 (+¥216.95 / +1.06%); Topix ¥1,567.49 (+¥16.73 / +1.08%); ¥/$108.74
Tags: Anritsu (6754 JT), Advantest (6857 JT), NEC (6701 JT), Screen (7735 JT), CyberAgent (4751 JT), SanBio (4592 JT), Sumitomo Dainippon Pharma (4506 JT), Roche (ROW SW), Biogen (BIIB US), Eisai (4523 JT), Astellas (4503 JT), Nitto Denko (6988 JT), Dexerials (4980 JT), Hitachi Chemical (4217 JT), Zeon Corp (4205 JT), Canon (7751 JT), Nintendo (7974 JT), Murata (6981 JT), Apple (AAPL US), TDK (6762 JT), Alps Alpine (6770 JT), Hino (7205 JT), Fanuc (6954 JT), Komatsu (6301 JT), Hitachi Construction Machinery (6305 JT), Nomura Research Institute (4307 JT)
Main Points at a Glance
• Fresh legs thanks to the Fed and plenty of results-led action
• Canon reports full year results and a forecast we think may be tough to achieve
• Best Q3 for Nintendo since FY09 but no change to FY forecasts
• A record December quarter for Murata but we have concerns
• TDK rebounds after revising down
• Hino Q3 profits drop on higher costs
• Fanuc Q3 orders / Q4 guidance below consensus
• Komatsu disappoints with mining
• Mixed bag for NRI’s Q3
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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