- Joel Scheiman
- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
The PSA Japan Weekly Research Round-Up for the Week Ending 13 August 2021
The Weekly Comment SummaryIs Japan about to have a political crisis? Pelham Smithers studies the runes.
PSA Company Visits, Tours and Interviews
• Visited: Daifuku (6383 JT), Diamond Electric (6699 JT), IHI (7013 JT), JSR (4185)
• Conference Calls with: Nabtesco (6268 JT), IHI (7013 JT), Fujifilm Holdings (4901 JT), Nissan Chemical (4021 JT), Showa Denko (4004 JT), Kaneka (4118 JT), Kuraray (3405 JT), Sumitomo Bakelite (4203 JT), Rakuten (4755 JT)
Reports / Flash Notes Summaries
1. Square Enix (9684 JT) – Enjoying the Fantasy
2. Daifuku (6383 JT) Key Point: Cost Reductions – The FY22 Story Begins
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Nexon (3659 JT) 2Q FY21 OP -42% YoY
2. Sony’s (6758 JT) VR Successor / PS Plus Service Developments
3. Konami (9766 JT) Announces its Gamescom 2021 Line-up
Technology: Industrial Electronics / Components / Semis & SPE / Precision
4. DRAM Price Slide Picking Up Speed
5. DRAM Concerns Continue
6. Other Tech News & Moves That Caught Our Eye
Chemicals / Materials
7. Nissan Chemical (4021 JT): Firm FY21 Q1 / Retires from Melamine
8. Kaneka (4118 JT): FY21 Q1 Strong but on Easy Comps
9. MEC (4971 JT) 2Q FY21 OP +53% YoY
Auto Parts / Machinery
10. Nabtesco (6268 JT) Conference Call Disappoints on Costs
11. SMC’s (6273 JT) Strong FY21 Q1 Sparks Listing High, Despite Less Disclosure
12. IHI (7013 JT) FY21 Q1 Recovery
13. Diamond Electric (6699 JT) Posts Good FY21 Q1
14. Ferrotec’s (6890 JT) Stellar Q1; Raises FY21 OP Guidance by 33% to ¥20bil
Internet / eCommerce
15. GMO Financial Gate (4051 JT): FY21 Q3 Ahead of Street; Full Year Revised Up
16. Rakuten Remains in the Red with its FY21 Q2 Results
17. Mercari’s (4385 JT) FY21 Results Beat Guidance and Consensus
18. Recruit (6098 JT): Strong Q1 / Revision Up to FY21 Guidance
19. Trend Micro (4704 JT): FY21 Q2 Results
20. IIJ (3774 JT) 1Q FY21 OP +113% YoY
21. V-Cube (3681 JT) FY21 2Q OP +6% YoY
Enterprise Software
22. MDV (3902 JT) Strong H1 Leads to FY21 Revision Up, Eyes Overseas Business
23. MedPeer (6095 JT) Raises FY21 Forecasts, But Not by Enough
24. Cybozu (4776 JT): FY21 Earnings on Track
25. Medley (4480 JT) Impacted by Covid Vaccinations
Pharma
26. Shionogi (4507 JT) Seeking Fast-Track Approval for its Covid Treatment
27. Daiichi Sankyo (4568 JT) Not the Bitter (Valuation) Pill it Once Was
28. Novavax (NVAX US), Fujifilm (4901 JT) Remain Promising on Vaccines
Miscellaneous
29. Dentsu (4324 JT) Sees FY21 2Q OP Surge
30. Other News & Moves That Caught Our Eye
Market / Strategy / Macro
31. Friday 13 August Was the Last Big Day of Earnings Releases
32. China Trade / Shipping Rates / Japan PPI
33. Japan Probes Underwriting Fairness
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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