- Julie Boote
- Lindsay Whipp
- Pelham Smithers
- Thao Nguyen
- William Nestuk
Wishing you all a Merry Christmas and a Happy New Year: The final PSA Japan Research Round-Up for 2019 (for the week ending Dec 20)
Weekly comment:These are exciting times in Japanese corporate M&A, which has seen an uplift in terms of transaction numbers and the size of deals. Pelham Smithers discusses the factors underlying this shift in gear
Reports / Flash Notes Summaries
1. Sansan (4443 JT) Initiation: Breathing New Life into Business Cards
2. Honda (7267 JT) – Lacklustre Growth, Long-term Concerns
3. Hitachi (6501 JT) – Adjusting EV/OP for Recent Activity
4. Dentsu’s (4324 JT) Boiling Frog Problem
Company / Sector / Thematic Comments
Technology: Consumer Electronics, Gaming
1. Cyclical and Structural Issues in US Video Game Market
2. Nintendo’s (7974 JT) Multiplayer Testing of Mario Kart Tour for Gold Pass Members
Technology: Industrial Electronics / SPE / Components / Precision
3. Hitachi (6501 JT) Restructures with the Sale of Business Units / Subsidiaries
4. Hitachi (6501 JT) Settles with MHI (7011 JT)
5. Hoya (7741 JT) Bids for NuFlare (6256 JT)
Chemicals / Materials
6. Shin-Etsu Chemical (4063 JT) Looks Well Positioned for FY20
7. Fujifilm (4901 JT) to Acquire Hitachi’s (6501 JT) Diagnostic Imaging
8. Showa Denko’s (4004 JT) Scheme to Buy Hitachi Chemical (4217 JT); Strategy Assessment
Autos
9. US-Mexico-Canada Trade Agreement
10. Isuzu (7202 JT) Buys UD Trucks – Strategic Alliance with Volvo Group
11. Toyota’s (7203 JT) AD Focus to be on Commercial Use
Auto Parts / Machinery 12
12. Hitachi (6503 JT) Divestiture Fever Lifts HCM Over Komatsu (6301 JT) Yet Again
13. Nabtesco Finally Falls on B-737 MAX
Telecom
14. Mobile Payment Alliance Ends
Internet / eCommerce
15. Z Holdings (4689 JT): PayPay Mall Extends Its ¥10bil Campaign
16. SRE (2980 JT) vs GA Technology (3491 JT): Choice in the Japanese Property Website Market
Enterprise Software
17. Freee Soars on First Day
18. NTT Data (9613 JT) Subsidiary Struggling to Fully Recover Data from Cloud Storage Failure
Pharma
19. Astellas (4503 JT) and Seattle Genetics Get US FDA Approval for Padcev
20. SanBio (4592 JT): Hit Hard on Two Pieces of Negative News
21. Daiichi Sankyo (4568 JT): DS-8201 and the Risk of ILD
22. Drug Price Cuts
23. Eisai’s (4523 JT) Lemborexant Gets PDUFA Date
24. Investigation into Sosei’s (4656 JT) Muscarinic AD Program is Ongoing
Media and Advertising
25. Dentsu’s (4324 JT) Boiling Frog Problem
PSA Company Visits / Tour / Interviews
• Interviewed / Conference Call with Showa Denko (4004 JT), Fujifilm Holdings (4901 JT), HCM (6305 JT), Yaskawa (6506 JT)
• Attended strategy / mid-term plan announcement meetings at: Showa Denko (4004 JT), JCU Corporation (4975 JT), MEC (4971 JT), Taiyo Holdings (4626 JT)
PSA in the Press
Pelham Smithers is quoted in a Bloomberg article titled “Toshiba Digs in Heels After Hoya’s Unsolicited Bid for Tech Unit†(Dec 18)
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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