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The Must Read PSA Weekly Research Round-Up: (Week ending Jan 27)

PSA Japan Weekly research round-up for week end Jan 27:
Reports/Flash Notes: Headlines at a Glance (full reports available upon request):
1. Machinery: Yaskawa (6506) – New Products from FY17 to Boost Profitability
2. Machinery: Fanuc (6954) – Order Recovery Clear
Company/Sector/Thematic Comments at a Glance (full comments available upon request) 
Technology: Industrial Electronics / Electronic Components/ Precision
1. Sony Pictures Worth US$16bil – Bloomberg...PSA does the Numbers
2. Nidec (6594) Revises Up After Another Good Quarter
3. TDK (6762) Leads Electronic Parts Makers to Higher Orders / Minebea (6479) Revisited
4. Alps (6770) Revises Up – Read-Across to TDK (6762)
5. Apple (AAPL US): New Handset Looks Like Having Edge-to-Edge Screen
6. Toshiba (6502): Rating Downgraded, Chip Sale is On, it Seems / Micron's Interest in Flash
7. Capcom (9697): Resident Evil 7 Tested at Home – it IS TRULY SCARY
8. Square Enix (9684) to Make Games for Marvel, Starting with Avengers

9. Pricing PanaHome (1924), and Panasonic's (6752) Need to Build Up its Smart Home Business
Electronic Materials / Chemicals
10. Shin-Etsu Chemical (4063) Q3 Call – Spotlight Stays on Wafer Price Hikes
11. Samsung: Note 7 Failure Due to Batteries
12. Hitachi Chemical (4217): Upward Revision Does Not Come as a Large Surprise
13. LG Siltron to Become SK Siltron
14. Dexerials (4980) – The Crux Issue is the Shape of the FY17 Recovery
Autos / Auto Parts
15. NAFTA review: Bad News for Automakers / Emissions / Trump's Threat of a 20% Duty on Mexico Imports
Machinery
16. Automation Plays: Musings on Fanuc (6954), Yaskawa (6506), SMC (6723)
Pharma
17. Ono (4528) to get Royalties from Keytruda in Settlement
18. Sosei (4565) – Milestone Payment for COPD Products
Telecom
19. Docomo (9437) Revises Up – Read-Across to KDDi (9433)
20. SoftBank (9984) and Dealing with Arora's Legacy
Macro
21. Manufacturing PMI Highest Since Pre-consumption-tax-hike
You can also find PSA research on FactSet, Thomson Reuters (Reuters Knowledge, Thomson One Analytics, Starmine), Capital IQ, and Bloomberg (under PSAZ or by typing in the < stock code> equity CN PSA . For access, please contact your PSA sales representative.

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