PSA Today July 30: Positive momentum stalling / Looking at Q1s for Advantest, Panasonic, Hitachi, Anritsu, Fujitsu / Machinery in China / NRI misses on FY20 Q1 OP – Nikkei -0.26%
Japan Market Comment by Pelham Smithers, William Nestuk, and Lindsay WhippNikkei ¥22,339.23 (-¥57.88/ -0.26%); Topix ¥1,539.47 (-¥9.57 / -0.62%); ¥/$105.08
Tags: M3 (2413 JT), SoftBank Group (9984 JT), Isetan (3099 JT), Kao (4452 JT), Shiseido (4911 JT), Screen (7735 JT), ANA Holdings (9202 JT), PCA Corp (9629 JT), Daito Trust Construction (1878 JT), Sekisui Chemical (4204 JT), Konica Minolta (4902 JT), Ricoh (7752 JT), Advantest (6857 JT), Tokyo Electron (8035 JT), Disco (6146 JT), Screen (7735 JT), Panasonic (6752 JT), Hitachi (6501 JT), Fujitsu (6702 JT), Anritsu (6754 JT), NEC (6701 JT), Komatsu (6301 JT), Hitachi Construction Machinery (6305 JT), Nabtesco (6268 JT), Nomura Research Institute, (4307 JT), NTT Data (6913 JT)
Main Points
• Tokyo delivers another day with a positive start and a disappointing end
• Advantest 1Q OP -11% YoY, forecasting FY20 OP -23% YoY
• Panasonic 1Q OP -93% YoY, forecasting FY20 OP -49% YoY
• Hitachi 1Q OP -53% YoY, leaves full year forecast unchanged at ¥372bil (-44% YoY)
• Anritsu 1Q FY20 OP +90% YoY
• Fujitsu 1Q OP +558% YoY as it forecasts FY20 OP ¥212bil (+0.2% YoY)
• Komatsu FY20 Q1 China +19% YoY; positive for Nabtesco
• NRI misses on FY20 Q1 OP
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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