The Must Read PSA Weekly Research Round-Up (week to March 10, 2017)
PSA Japan Weekly research round-up for week ending March 10th:
Reports/Flash Notes: Headlines at a Glance:
1. Strategy: As the Nikkei Threatens to Break Out – What Stocks to Focus On?
2. Autos: US Border Adjustment Tax – A Disastrous Scenario for Japanese Automakers
3. Gaming: Nintendo (7974) and DeNA (2432) Assessed in the Light of Switch Launch
Company/Sector/Thematic Comments at a Glance:
Technology: Consumer Electronics / Gaming / Industrial Electronics / Precision
1. Sony Corp (6758): Credit Rating Raised / Toyo Keizai Raises its Sony Estimates for FY16
2. China Bans New Korean Video Games: Read-Across to Nexon (3659), NCSoft (035670 KS) etc.
3. KLab (3656): Overegging Benefits of Cost-Cutting? While Gumi's (3903) Q3 is Excellent
4. Square Enix (9684): Positive Reviews Do Matter
5. Toshiba (6502): Troubles Continue
6. Canon (7751): Cost Cutting at Last? If So, Justifying Valuations Remains a Tough Ask
Chemicals / Electronic Materials
7. OLED Auto Displays? Not so Fast...
8. Sumitomo Chemical (4005): Anticipates High Growth in OLED Touch Sensors
9. Lacklustre Feb Housing Orders at Sekisui Chemical (4204) and Asahi Kasei (3407)
10. Taiyo Nippon Sanso (4091) Stands to Benefit from Linde – Praxair Merger
11. Toyoda Gosei (7282): Hits a 15-month High
Machinery / Auto Parts
12. The Midea Group's Web: Toshiba (6502), Yaskawa (6506) Increasingly Drawn In?
13. IHI (7013): Promising Turbocharger Business Expanding / MHI (7011) Follows Suit
14. Aisin Seiki (7259) vs Denso (6902): One is at an All-Time High, the Other is Not...Yet
15. SoftBank (9984): Sprint (S US) / T-Mobile (TMUS US) Merger & Infrastructure Spending
16. SoftBank's Sprint (S US): Facing New Price War, Courtesy of Verizon (VZ US)
17. SoftBank (9984): Sells 25% of ARM – the "Go To" Stock for the IoT Era – to the Vision Fund!
18. Snap Inc (SNAP US)-Induced Focus on Japan's Content Providers
19. Avex (7860): Entering the Chinese market is a Positive
20. Potential Shipping Rate Hikes May Hurt E-Commerce Companies
21. LINE (3938): Expanding its Network of Local Banks
22. Japan Drug Market to Shrink 30% by 2025! – PhRMA
23. Spring Shunto Results Look Similar to 2016's
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