- Joel Scheiman
- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
The PSA Japan Weekly Research Round-Up for the Week Ending 20 August 2021
The Weekly Comment SummaryWill US investors give up on China and instead begin to value Japan’s improving corporate earnings, asks Pelham Smithers.
PSA Company Visits, Tours and Interviews
• Visited: Ferrotec (6890 JT), Denso (6902 JT), Toyota Industries (6201 JT), Diamond Electric (6699 JT), Ube Industries (4208 JT), Dexerials (4980 JT)
• Conference Calls with: CyberAgent (4751 JT), HCM (6305 JT)
• Presentations at: Sumitomo Chemical (4005) small meeting
Reports / Flash Notes Summaries
1. Ferrotec (6890 JT): Record Q1 FY21 and Momentum
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Sony (6758 JT) Delays Venom 2, Looking to Sell Hotel Transylvania 4
2. Nintendo (7974 JT): Switch Games Dominate Japan’s Weekly Games Sales Chart / Nikkei 225 Candidate
3. The NPD Group: July US Video Game Industry Data
4. Mobile Game Revenues Struggling
Technology: Industrial Electronics / Components / Semis & SPE / Precision
5. Tokyo Electron (8035 JT) 1Q FY21 OP +92% YoY
6. Sapphire Rapids-SP Pushback to Impact Shinko Electric’s (6967 JT) 2H FY21, but FY21 OP Beat Still Likely
7. Hoya (7741 JT) and Others Expand EUV Sales
Japan Chip Equipment Billings +28.1% YoY
8. Other Tech News & Moves That Caught Our Eye
Autos 10
9. Differing Reports on Toyota’s (7203 JT) Production Plans
10. Toyota (7203 JT) Confirms September Production Cut on Covid-19 Spread Supply Issues
11. China EV Market Is Booming – But Japanese Automakers Are Struggling
12. Japan Forms Alliance to Combat Cyberattacks on Automobiles
Auto Parts / Machinery
13. Ferrotec (6890 JT) Retreats from its Limit-Up Gain on Record Q1
Internet / eCommerce
14. PayPay Announces Merchant Fee Plan
15. istyle’s (3660 JT) FY21 Results
16. CyberAgent (4751 JT): Concerns on Further Success for Uma Musume
17. Mercari (4385 JT): Concerns on Capex Plans Squeezing Earnings Ahead
18. Z Holdings (4689 JT) Moving Higher Since the FY21 Q1 Earnings Release
19. Issei Trading Takes up GA Technologies’ (3491 JT) Online Tenant Application Service
20. State of Emergency Sees a Bounce Back in Demae-can (2484 JT)
Enterprise Software
21. Reasons to be Cheerful about Enechange (4169 JT)
22. A Post-Earnings Freee- (4478 JT) Fall for the Accounting SaaS Company
23. TIS Inc (3626 JT) Closes at All-Time High
Pharma
24. Fujifilm’s (4901 JT) Earnings Impress the Market
25. Other Pharma News & Moves That Caught Our Eye
Miscellaneous
26. Other Moves & News That Caught Our Eye
Market / Strategy / Macro
27. Japan GDP +0.3% QoQ in June Q / July CPI Shows Inflation Still Non-Existent
28. Japan June Machinery Orders Better than Expected
29. Baltic Freight Rates / Shanghai Exports
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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