Reports (full company / earnings flash notes) and comments from the PSA team for the week ending Friday, October 24th, 2014
1. Solar: West Holdings (1407) - EV/OP FY8/16e 2.5x and 4 Reasons to See Solar Demand to Improve
2. Internet: Yume No Machi Souzou Iinkai (2484) Initiation
3. Electronic Components: Kyocera (6971) Waiting in the Wings with Value
4. Auto parts/ Electronic Components: NOK (7240): We will Pat Ourselves on the Back
5. Chemicals: JSR (4185) - Momentum to Comfortably Exceed Forecasts
6. Internet: Kakaku (2371) – Looking Better, Set to Beat
7. Consumer Electronics: Video Games and a Reminder to Put Nintendo (7974) on Your Buy List
8. Consumer Electronics: Sony (6758) Restructuring Continues – Albeit Slowly
9. Industrial Electronics: Hitachi (6501)/Fujitsu (6702)/Toshiba (6502) – Value Discussion
10. Autos and Auto Parts: Airbag Recalls/Nissan's Dongfeng JV/MMC 1H Revision Up/Honda's Quality Czar
11. Pharma: VIIV and Shionogi (4507) Suggests 40% Upside
12. Machinery: Yaskawa Electric Corporation (6506); Fanuc (6954); Nabtesco (6268); Nidec (6594)
13. Electronic Materials / Chemicals: Nitto Denko (6988); Sumitomo Chemical (4005); JSR (4185); Tokyo Ohka Kogyo (4186)
14. Energy: No Nuclear and Solar Sometime Soon?
15. Services: M3 Inc (2413) Is the Good News In the Price?
16. Industrial: MHI (7011) Building Passenger Jet – Melco (6503) A Potential Beneficiary
17. Internet: Kakaku.com (2371); Gree (3632); KDDI (9433); Rakuten (4755)
18. Retailers: Adastria (2685) – Sept Sales Good, Expect to Beat CE FY2/14 Earnings
For further details on the reports and comments above, please see below. You can also find PSA research on Factset, Thomson Reuters (Reuters Knowledge, Thomson One Analytics, Starmine), Capital IQ, and on Bloomberg under PSAZ <GO> or by typing in the <stock code> equity CN PSA <GO>. Easier: ask your sales contact to send what you would like to look at.