Pelham Smithers Associates Ltd - The PSA Japan Weekly Research Round-Up for the week to 10 March 2023

Report

Pelham Smithers Associates Ltd

Joel Scheiman ...

Julie Boote
Lindsay Whipp
Pelham Smithers
Thao Nguyen
William Nestuk

The PSA Japan Weekly Research Round-Up for the week to 10 March 2023

Weekly Comment Summary
Japanese companies are being encouraged by the government to further reduce third party shareholdings, while at the same time coming under pressure from activist shareholders to sweat their balance sheets more. This pincer movement should be good news for Japanese stocks in general, and value ones in particular, explains Pelham Smithers.

PSA Company Visits, Tours and Interviews
Visited: Shin-Etsu Chemical (4063 JT), Fujifilm Holdings (4901 JT), Resonac (4004 JT), Kaneka (4118 JT), Tokyo Ohka Kogyo (4186 JT)
Conference Calls with: IIJ (3774 JT)
Presentations at: Sumitomo Chemical (4005 JT), JSR (4185 JT), Ohara Inc. (5218 JT)

PSA Weekly Contents at a Glance
Reports / Flash Notes Summaries
1. Square Enix (9684 JT) – Dropping the Pilot

Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. UK Reports Healthier Video Games Market for February
2. Japan’s Video Game Market Sees Differing Fortunes for Sony (6758 JT) & Nintendo (7974 JT)
3. Why Has NFT Gaming Proved So Divisive?
4. Might GTA6 Be Pushed Back to 2025?
5. Other Consumer Elec / Gaming News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
6. Camera Shipments -35% YoY in Jan
7. Semiconductor Shipments Struggles Continue
8. Ricoh (7752 JT): Solutions for Others, Not for Itself
9. Renesas (6273 JT) To Demo AI / ML MCU Based on Arm’s Cortex M85 Processor
10. Other Tech-Related News & Moves That Caught Our Eye
Chemicals / Materials
11. Asahi Kasei (3407 JT) Guides for FY22 Net Loss After Polypore Write-down
12. Other Chemical / Material-Related News & Moves That Caught Our Eye
Autos
13. Upbeat Forecasts from VW (VOW GR) Give Auto Sector a Lift
14. Honda (7267 JT) Holds on to Multi-pronged Powertrain Strategy
15. Nissan (7201 JT) Gives EV Technology Preview
16. Mitsubishi Motors (7211 JT) Reveals Mid-term Business Plan
17. Nissan’s (7201 JT) Outperformance vs Toyota (7203 JT)
18. Other Auto-Related News & Moves That Caught Our Eye
Auto Parts / Machinery
19. US Housing Strength Supporting Construction Machinery and Daikin (6367 JT)
20. Caterpillar CFO Sees Strong Construction Machinery Demand for 2023
21. Automation Stocks Near 6~14-Month Highs
22. Nabtesco (6268 JT) Worst Performer in Machinery
23. Bridgestone (5108 JT) and Yokohama Rubber (5101 JT) Shares Firm on Structural and Cost Factors
Internet / eCommerce
24. Jan’s JOLTS Report Suggests a Continuing Tight Labour Market
25. Other Internet / eCommerce News & Moves That Caught Our Eye
Enterprise Software / IT Services
26. What We Can Learn from TIS’s (3626 JT) Case Study on Expense Management
27. What Does Enechange Have that ExaWizards Doesn’t?
Telecom
28. SoftBank Group (9984 JT) to Finally IPO ARM
Pharma
29. Pharma News & Moves That Caught Our Eye
Miscellaneous / Market / Strategy / Macro
30. Non-Trust Bank Lending Rises in Feb
31. Japan PPI Falls 0.4% MoM in Feb as Cost Push Pressure Eases
32. Other News & Moves That Caught Our Eye
List of PSA Published Reports Since November 2022

10/03/2023 1 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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The PSA Japan Weekly Research Round-Up for the week to 10 March 2023

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

PSA Today 25 Apr: Most of tariff fall recouped now / Tokyo CPI / Analyst articles on Advantest, Nissan, Hino, Denso, HCM, NRI, NTT Data, Chugai, DSK – Nikkei 225 +1.90% | ¥$143.55

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