Pelham Smithers Associates Ltd - PSA Today Oct 29: Reacting to mixed results / Muratas 2Q / Hino raises forecasts / Zeons weaker Q2 / Denso / Aisin, Toyota Industries / Nabtesco / Mercaris Q1 / TIS 2Q preview - Nikkei +0.25%

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

PSA Today Oct 29: Reacting to mixed results / Murata's 2Q / Hino raises forecasts / Zeon's weaker Q2 / Denso / Aisin, Toyota Industries / Nabtesco / Mercari's Q1 / TIS 2Q preview - Nikkei +0.25%

Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Thao Nguyen and Lindsay Whipp
Tags: Shinko Electric (6967 JT), Tokyo Steel (5423 JT), ZOZO (3092 JT), Capcom (9697 JT), Sony (6758 JT), Hitachi (6501 JT), Renesas (6723 JT), Mitsui OSK (9104 JT), Anritsu (6754 JT), Alps Alpine (6770 JT), Murata Mfg (6981 JT), Skyworks (SWKS US), Zeon Corp (4205 JT), Hino (7205 JT), Cummins (CMI US), Penske Automotive Group (PAG US), Denso (6902 JT), Toyota Motor (7203 JT) Aisin (7259 JT),Toyota Industries (6201 JT), Nabtesco (6268 JT) Mercari (4385 JT), TIS Inc (3626 JT), Nomura Research Institute (4307 JT)
Main Points
• Mixed day as results send shares in different directions
• Murata 2Q FY21 OP +45% YoY
• Zeon down sharply on a weaker Q2
• Hino raises FY21 forecasts
• Denso edges up to record high
• Aisin and Toyota Ind disappoint
• Nabtesco disappoints with weak Q3 OP for e disappoints
• Mercari’s FY22 Q1 results
• TIS FY21 Q2 Preview: Will it follow NRI with an upward revision?

29/10/2021 8 EN

Provider

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.

See profile

Analysts

Joel Scheiman

Julie Boote

Lindsay Whipp

Pelham Smithers

Thao Nguyen

William Nestuk

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PSA Today Oct 29: Reacting to mixed results / Murata's 2Q / Hino raises forecasts / Zeon's weaker Q2 / Denso / Aisin, Toyota Industries / Nabtesco / Mercari's Q1 / TIS 2Q preview - Nikkei +0.25%

PSA Today 28 Apr: Sentiment uptick / FY24s for Hitachi, NEC / Socionext woes / TDK, Komatsu: weak FY25 guidance / Toyota Industries to be taken private? / JMDC preview / CUC FY25 guidance conservative – Nikkei 225 +0.38% | ¥$143.83

The PSA Research Round-Up for the Two-Week Period Covering 11~25 April 2025

PSA Broadline Retail: Treasure Factory (3093 JT): Inbound Sales Still Solid in Q1

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