PSA Today May 18: Better GDP vs expected / NEC a Covid play / Panasonic's 4Q / Foster Electric's 4Q / Jack Ma leaving SoftBank board / Subaru profit surge / Freee cuts FY20 sales / Chemical, materials announcements round-up – Nikkei +0.48%
Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman and Lindsay WhippNikkei ¥20,133.73 (+¥96.26 / +0.48%); Topix ¥1,459.29 (+¥5.52 / +0.38%); ¥/$107.23
Tags: M3 (2413 JT), Screen Holdings (7735 JT), Nissan Chemical (4021 JT), Showa Denko (4004 JT), Medley (4480 JT), Takara Holdings (2531 JT), Takara Bio (4974 JT), Apple (AAPL US), Huawei (pvt), TDK (6762 JT), Taiyo Yuden (6976 JT), Alps Alpine (6770 JT, Panasonic (6752 JT), Tesla (TSLA US), SoftBank Group (9984 JT), T-Mobile (TMUS US), Deutsche Telecom (DTE GR), NEC (6701 JT), Fujitsu (6702 JT), Panasonic (6752 JT), Foster Electric (6794 JT), Alibaba (BABA US), T-Mobile (TMUS US), SoftBank Corp (9434 JT), Subaru (7270 JT), Freee KK (4478 JT), Money Forward (3994 JT), PCA Corp. ( 9629 JT) Teijin (3401 JT), Taiyo Nippon Sanso (4091 JT), Stella Chemifa (4109 JT), Mitsubishi Gas Chemical (4182 JT), JSR (4185 JT), Tokyo Ohka Kogyo (4186 JT), Mitsubishi Chemical Holdings (4188 JT), Novartis (NOVN SW), KH Neochem (4189 JT), Sekisui Chemical (4204 JT), Nippon Paint (4612 JT), Dexerials (4980 JT), TDK (6762 JT), Maxell (6810 JT), Murata (6981 JT), Nissha (7915 JT), Iwatani Sangyo (8088 JT), Kuraray (3405 JT), Showa Denko (4004 JT), Sumitomo Chemical (4005 JT), Kureha (4023 JT), Tosoh (4042 JT), Kanto Denka (4047 JT), Nippon Shokubai (4114 JT), Kaneka (4118 JT), Mitsui Chemicals (4183 JT), Zeon Corp (4205 JT), Ube Industries (4208 JT), Sanyo Chemical (4471 JT), Kansai Paint (4613 JT), Sumitomo Metal Mining (5713 JT), W-Scope (6619 JT), Nitto Denko (6988 JT),Toray (3402 JT), Sumitomo Bakelite (4203 JT), Fujifilm Holdings (4901 JT), Konica Minolta (4902 JT), Japan Display (6740 JT), Sumco (3436 JT), Nissan Chemical (4021 JT), Shin-Etsu Chemical (4063 JT), Mitsubishi CH (4188 JT), Hoya (7741 JT), Shin-Etsu Polymer (7970 JT)
Main Points
• Nikkei higher on better than expected GDP numbers
• NEC impresses as an anti-Covid play
• Panasonic’s 4Q FY19 OP -50% YoY
• Foster Electric sees an operating loss of ¥0.65bil in FY19 Q4
• Jack Ma to leave SoftBank board
• Subaru profits surge on base of comp, solid US results
• Freee cuts its FY20 sales forecast
• Chemical / basic materials / electronic material’s earnings announcements: where we stand
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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