- Joel Scheiman
- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
The PSA Weekly Research Round up for the week to 1 December 2023
Weekly Comment SummaryHaving spent heavily over the summer, the Japanese consumer reined in spending considerably in October. While this may be a one-off, it may also be that Japanese consumers are “spent out”. Pelham Smithers investigates.
PSA Company Visits, Tours and Interviews
• Visited: Daikin (6367 JT), Daifuku (6383 JT), SMC (6273 JT)
• Conference Calls with: Email Q&A with Money Forward (3994 JT)
• Presentation at: Mitsui Chemicals (4183 JT), Adeka (4401 JT), Teijin (3401 JT), Sakai Chemical (4078 JT)
Reports / Flash Notes Summaries
1. Nexon (3659 JT) – Ticking the Boxes in PC Gaming
2. M&A Research Institute (9552 JT) – M&A Maverick
3. Sanrio (8136 JT) – More Catalysts to Come
4. Kyoritsu Maintenance (9616 JT) – Turning Headwinds into Tailwinds
5. Koshidaka Holdings (2157 JT) – Karaoke Room Shortage to Come
6. Park24 (4666 JT) – 24 Hour Parking People
7. Digital Payments: Brazil’s Pix – The Great Equaliser
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Oct Global Console Sales -13% YoY
2. Insiders Suggest Sony (6758 JT) Is Close to Ending Zee Merger
3. Sony, Microsoft (MSFT US) Look to Broaden Gaming Ecosystems
4. Konami Remains Top of Japan Game Charts
Technology: Industrial Electronics / Components / Semis & SPE / Precision
5. Micron (MU US) Warns of Cost Increases Offsetting Higher Sales
6. Advantest (6857 JT) Forecasts +50% CAGR for HBM Memory Between 2023~2027
7. Other Tech-Related News & Moves That Caught Our Eye
Chemicals / Materials
8. Smaller Electronic Materials Companies Shares Move
Autos
9. Toyota (7203 JT) Production Surges in October
10. Toyota Plans to Sell Down Its Denso (6902 JT) Stake
11. Honda Reveals Electric Motorcycles Plans
12. Japan Auto Sales Continue to Rise in November
13. Other Auto-Related News & Moves That Caught Our Eye
Auto Parts / Machinery
14. Denso (6902 JT) Announces ¥200bil Buyback: No Toyota (7203 JT) Share Sale for Now
15. Other Auto Part / Machinery News & Moves That Caught Our Eye
Internet / eCommerce
16. LY Corp (4689 JT) Breaks User Trust – Again
17. Other Internet / eCommerce News & Moves That Caught Our Eye
Enterprise Software / IT Services
18. Teething Problems for Japan’s New Invoice System
19. Cybozu (4776 JT) Revises Down Sales and Raises OP
Miscellaneous / Market / Strategy / Macro
20. What are the Risks from Ending YCC?
21. Oct Machine Tool Orders Lowest Since Feb 2021
22. Big Week for Economic Data in Japan
23. Other News & Moves That Caught Our Eye
List of PSA Published Reports Since August 2023
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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