PSA Today July 31: Hit by perfect storm / Q1 comments on NEC, Murata, Alps Alpine, KDDI / Perky Mazda / TDK / Dexerials / ZOZO delivers a positive surprise - Nikkei -2.82%
Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman and Thao NguyenNikkei ¥21,710.00 (-¥629.23 / -2.82%); Topix ¥1,496.06 (-¥43.41 / -2.82%); ¥/$104.67
Tags: Ajinomoto (2802 JT), Fujitsu (6702 JT), Hitachi (6501 JT), Panasonic (6752 JT), Komatsu (6301 JT), Daito Trust Construction (1878 JT), TDK (6762 JT), Anritsu (6754 JT), Advantest (6857 JT), Canon (7751 JT), Konica Minolta (4902 JT), Ricoh (7752 JT), Chugai Pharm (4519 JT), Roche (ROG SW), Biocon (BIOS IN), Nexon (3659 JT), Electronic Arts (EA US), NEC (6701 JT), Japan Aviation Electronics (6807 JT), DTS Corp (9682 JT), Murata (6981 JT), Huawei, Alps Alpine (6770 JT), KDDI (9433 JT), Mazda (7261 JT), Nissan (7201 JT), Mitsubishi Motors (7211 JT), Dexerials (4980 JT), ZOZO (3092 JT)
Main Points
• Perfect storm hits Japanese shares
• NEC 1Q operating loss ¥10.3bil
• Murata 1Q FY20 OP ¥51.3bil -18%
• Alps Alpine 1Q operating loss ¥6.5bil
• KDDI’s Q1 best ever
• Mazda reports sharp drop in FY20 Q1 sales but expects H2 recovery
• TDK’s results are well received
• Dexerials delivers successive strong quarters
• ZOZO’s FY20 Q1: a positive surprise
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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