- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
The PSA Japan Weekly Research Round-Up for the week ending 9 December 2022
Weekly Comment SummaryWith the latest Q3 2022 GDP revised data, it turns out that the “private sector domestic demand” component of nominal GDP is growing even faster than originally thought. Pelham Smithers suggests that with the Japanese economic engine in danger of overheating, global portfolios should consider raising their weightings in Japan.
PSA in the Press
In a discussion in the Wall Street Journal on Nissan grappling with currency volatility despite the weak yen boosting earnings, PSA’s auto analyst Julie Boote warns FY22 estimates may have to be revised (again).
/articles/nissan-grapples-with-currency-volatility-even-as-weak-yen-boosts-earnings-11670355697?st=ryl9znddxu522hx&reflink=desktopwebshare_permalink
PSA Company Visits, Tours, and Interviews
• Visited: Honda (7267 JT) London IR, Komatsu (6301 JT), Daikin (6367 JT), Hitachi Construction Machinery (6305 JT), Fujifilm Holdings (4901 JT)
• Presentations at: Sumitomo Chemical (4005 JT), Mitsui Chemicals (4183 JT), Nippon Sanso (4091 JT)
PSA Weekly Contents at a Glance
Reports / Flash Notes Summaries
1. Nomura Research Institute (4307 JT): Opportunity Knocks?
2. Anycolor (5032 JT): Post Lockup Selling Has Brought in Valuations
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Global Mobile Game Sales -9.2% YoY
2. Worldwide Console Sales +41% YoY in Black Friday Week
3. A Review of the Nintendo (7974 JT)-DeNA (2432 JT) Partnership
4. Triller Versus the Big Three
5. Other Consumer Elec / Gaming News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
6. October Camera Shipments Volumes +30% YoY / Revenues +84% YoY
7. Murata (6981 JT) Cuts Smartphone Shipment Estimates Further
8. Other Tech-Related News & Moves That Caught Our Eye
Autos
9. Strengthening of the Yen Could Put Automakers’ FY22 Forecasts at Risk
10. Toyota (7203 JT) Expands Electrified Line-up in Europe
11. Honda (7267 JT) Still Plagued by Supply Problems
12. Other Auto-Related News & Moves That Caught Our Eye
Auto Parts / Machinery
13. China Automation Plays Strong on Country Re-opening
14. Daifuku (6383 JT) to Benefit from Second TSMC (2330 TT) Plant
Internet / eCommerce
15. Consumer Spending-Related Stocks Sold Down
16. Other Internet / eCommerce News & Moves That Caught Our Eye
Enterprise Software / IT Services
17. Sansan (4443 JT) Eye’s Overseas Expansion
18. NRI’s (4307 JT) Puzzlingly Small Buyback
Miscellaneous
19. Other News & Moves That Caught Our Eye
Market / Strategy / Macro
20. Weak Wage Data for October
21. Q3 GDP Revised / Awaiting Nov PPI
22. China’s Imports are Down, and It Isn’t All Due to Declining Oil Prices
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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