- Joel Scheiman
- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
The PSA Research Round-Up for the Week to 11 July 2025
Weekly Comment SummaryAt US$4tril, the market cap of Nvidia exceeds that of Japan’s 78 most valuable companies combined.
The question of which will be the first Japanese stock to US$4tril in market cap isn’t the question, the question is which is the one that might get to US$1tril first?
Pelham Smithers provides ideas.
PSA Weekly Contents at a Glance
Reports / Flash Notes Summaries
1. Kioxia (285A JT) – NAND in Spotlight as AI Goes Mainstream
2. Mitsubishi Electric (6503 JT) – Focusing on OP
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Video Game Console Sales in May Down -26% YoY
2. Sony Pictures Update
3. Might Microsoft Pull the Plug on Game Pass?
4. Nintendo Switch 2 Update
5. Other News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
6. May Global Semiconductor Shipments +20% YoY to Record US$59.0bil
7. Other Tech-Related News & Moves That Caught Our Eye
Autos / New Mobility
8. Japanese Automakers Delay Their EV Projects in the US
9. Nissan Confirms Large Funding Plans
Mazda Presents 3rd-Generation CX-5
10. Other News & Moves That Caught Our Eye
Auto Parts / Machinery / Capital Goods
11. Yaskawa Fallout for SMC, Fanuc, Positive for Daikin
12. Other News & Moves That Caught Our Eye
Internet / eCommerce
13. Smaregi: A Revisit
14. GA Technologies: A Revisit
15. Other News & Moves That Caught Our Eye
Enterprise Software / IT Services
16. Money Forward: FY25 Q2 Preview
17. Shift Revises Up FY25 OP Guidance Following Q3 Consensus Beat
18. Other News & Moves That Caught Our Eye
Pharma / Healthcare
19. Pharma-Related News & Moves That Caught Our Eye
Small- / Mid-Cap Insights
20. Park24 FY25 Q2 Preview
21. Treasure Factory: June KPIs / Q1 OP +10.9% YoY, FY25 Guidance Kept
22. Hitomile’s June KPIs
23. Koshidaka: FY25 Q3 Strong
Miscellaneous / Market / Strategy / Macro
24. Might The BoJ Raise Rates on 31 July?
25. Japan Wage Data for May Proves Disappointing
26. Japan Producer Price Inflation Falls Below 3.0%
27. China PPI Data Suggests Deepening Export Deflation
28. LDP Does Poorly in Weekend Opinion Polls
29. Other News & Moves That Caught Our Eye
List of Recently Published PSA Notes & Reports
Important Disclosure Statement from Pelham Smithers Associates Limited
PSA in the Press
Capital goods / machinery analyst William Nestuk’s views on the Yasakwa results features in the following Bloomberg article: Yaskawa Shares Drop on Guidance Cut and Tariff Risk: Street Wrap – 7 July
Justification of Nissan funding its baseball team comes up in this discussion with Autos / Mobility analyst Julie Boote. 日産野球部、16年ぶり復活に社員は歓喜－強豪東芝とあす対戦へ - Bloomberg – 7 July
PSA Company Visits, Tours and Interviews
Visited: Wellness Communications (366A JT)
Conference Calls with: Hitomile (7686 JT), Koshidaka (2157 JT), GA Technologies (3491 JT)
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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