PSA Strategy: Japan Stock Market Quarterly 2024 Q4

When the BoJ raised rates in March, it had been 17 years since it had last done so, though the world was very different then. While the July rate hike was unlikely to move the economic needle, the question now is what else might follow the subsequent financial market maelstrom. Pelham Smithers discusses the outlook for Japan’s macro environment, what new fiscal policies the new PM might introduce, how the BoJ might react and the all-important trend in corporate earnings. This then leads us to consider our strategy for sector / stock selection and the changes to our updated Focus Lists.

PSA Global Autos / New Mobility: The New World of Gigacasting

Tesla’s plans to halve EV manufacturing costs rely heavily on the increased use of gigacasting. Using massive aluminium die-casting machines to achieve this, however, is not only a major technological challenge, it requires substantial initial investments. Nevertheless, global automakers and suppliers are now exploring the possibilities of gigacasting, as the race for EV cost competitiveness is on. In this report, analyst Julie Boote outlines the benefits and challenges of gigacasting, examines global gigacasting initiatives across the global auto industry and explores who could emerge as a wi...

Weekly Comment Summary As Rishi Sunak found out, when your party’s popularity is low and you’ve got time on your hands, you shouldn’t call a snap election. Yet that’s what both Fumio Kishida – three years ago – and now Shigeru Ishiba, have done. Kishida got away with it, but he may have set a trap for his successor. Pelham Smithers discusses whether Ishiba might lose the upcoming election. PSA Company Visits, Tours and Interviews • 1-1 call with: Koshidaka (2157 JT), S-pool (2471 JT) • Presentations at: Treasure Factory (3093 JT) PSA in the Press In this FT article, Pelham Smithers note...

PSA Autos / New Mobility: The Fraught Path to Electrification

Given that the EV market is not a free market, led by demand and supply, but a distorted market, moved by political intervention in the form of subsidies (or lack of), making EV sales forecasts is very challenging indeed. This is a headache for analysts, but even more so for auto companies with a ten-year planning horizon. In this report, we outline the sales situation for different regions, as well as providing an outlook based on currently available information.

PSA Today 11 Oct: Boosted by Fast Retailing/ Video game industry round-up / Asahi Kasei, Sekisui Chem report higher housing revenues / Heavies rise / Considering Fujikura / Sansan's miss / Healthcare round-up / S-Pool's Q3 – Nikkei 225 +0.

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, William Nestuk, Lindsay Whipp, Hiroyuki Terada and Nia Dokova Tags: Fast Retailing (9983 JT), Shift (3697 JT), Dawn (2303 JT), Money Forward (3994 JT), Sansan (4443 JT), BayCurrent Consulting (6532 JT), MonotaRO (3064 JT), Fujikura (5803 JT), Furukawa Electric (5801 JT), SWCC (5805 JT), Nichidai (6467 JT), Toyota Motor (7203 JT), Grid (5582 JT), West Holdings (1407 JT), Koshidaka (2157 JT), Treasure Factory (3093 JT), Nintendo (7974 JT), Bandai Namco (7832 JT), Asahi Kasei (3407 JT), Sekisui Chemical (4204 JT), IHI (7013 JT),...