PSA Weekly Research Round-Up (week to July 28): Reports on Sony ......

Inside the PSA Japan Weekly Research Round-Up you have:
The Weekly Comment by Pelham Smithers (full comment available upon request):
Toshiba’s troubles…the possibility of bankruptcy, whether the accounts will get signed off on time, the threat of delisting and getting the approval to sell Toshiba Memory
Reports / Flash Notes Published This Week: Headlines at a Glance (full reports available upon request):
1. Consumer Electronics: Sony (6758) – Encouraging Indications on PSVue Subscriptions
2. Internet: Trend Micro (4704) Initiation – Superior Cybersecurity Solutions
Earnings Notes Published This Week: Headlines at a Glance (full reports available upon request):
1. Autos: Nissan (7201) FY17 Q1 – Profits Decline in All Regions Except Japan
2. Chemicals: Showa Denko (4004): FY17 Revision – Good News Was Already Known, Bad News is New
3. Chemicals: Shin-Etsu Chemical (4063) – Strong Q1 Results Outweighs Any Concerns over Lower Guidance
4. Chemicals: Sekisui Chemical (4204) – Waiting for Growth Strategies to Kick In
5. Internet: LINE (3938) – FY17 Q2 Results Do Not Lead Us to Revise Our Forecasts
6. Internet: CyberAgent (4751) – FY17 Q3 Results Comment Below Consensus
Company / Sector / Thematic Comments at a Glance (Please ask for more details):
Technology: Consumer Electronics / Gaming / Industrial Electronics / Precision / Electronic Components
1. Nintendo (7974): FY17 Q1 Results / Pokémon Go Party a PR Disaster
2. Canon (7751): Excellent Q2, FY Guidelines Beat the Street and Even PSA’s Bullish Numbers
3. Skyworks (SWKS US) Results: Read-Across to Murata (6891), Taiyo Yuden (6976)
4. Nidec (6594): Solid FY17 Q1 Results / Raises FY OP
5. Alps (6770): Buys Out the Minorities Alpine (6816)
6. Hitachi (6501): FY17 Q1 IFRS-Based Results are Impressive and Better Than They Looks
7. Toshiba – Landis+Gyr IPO successful
Chemicals / Electronic Materials
1. TDK (6762): Q1 Announcement Should Alleviate Market Concerns
2. Dexerials (4980) Executes a V-Shaped Recovery
3. Hitachi Chemical’s (4217) FY17 Q1 is Good, But Not Inspiring
4. Hoya (7741) Sounds Confident at FY17 Q1 Meeting
5. Tokuyama (4043) Q1 Result Undershot Expectations
6. Shin-Etsu Polymer (7970): Guides for OP 18% Growth– Bodes Well for Parent Shin-Etsu Chem
Auto Parts / Machinery
7. FY17 Q1 Results for Denso (6902), Aisin Seiki (7259), Koito (7276), Toyota Gosei (7282)
8. Fanuc (6954): Revises Up but Remains Conservative
9. Daikin (6367): Continues to Notch up New All-Time Highs
10. Ferrotec (6890): Upbeat Articles Related to Vacuum Seals
11. Yaskawa (6506): Strong Numbers See Shares up 15% WoW
12. Tokyo Electron (8035): Bullish Comments, Focus on Boosting Capacity
Telecom
13. SoftBank (9984): Looking to Invest in Uber
Pharma
14. Shionogi (4507): Back in the News
15. Daiichi Sankyo Pharmaceutical (4568): EMA Advisor Declines Onzeald
16. Mitsubishi Tanabe Pharma (4508): NeuroDerm Acquisition and Hopes ND0612 Gets Approval
17. Chugai (4519): Disappointing Q2 Results

PSA Company Visits, Tours and Interviews:

• Attended earnings meetings for Sekisui Chemical (4204), Advantest (6857), Tokyo Electron (8035), Hoya (7741), Sekisui Chemical (4204), TDK (6762), Konica Minolta (4902)
• Participated in earnings calls for Shin-Etsu Chemical (4063), Hitachi Chemical (4217), Tokuyama (4043), Dexerials (4980), LINE (3938), CyberAgent (4751), Nissan (7201), Yahoo Japan (4689), Denso (6902), Aisin Seiki (7259), Fanuc (6954), Komatsu (6301), Toyoda Gosei (7282)