Loading...
PSA2021-12-03T14:12:01+00:00

If you are interested in subscribing to our services please complete the form below


    By using this form you agree with the storage and handling of your data by this website.

    Pelham Smithers Associates

    Pelham Smithers Associates is a leading English language independent research provider covering the Japanese stock market. We focus primarily on Japanese manufacturing – TMT, autos, pharma, and machinery – and on internet plays and video games. We also write on market strategy.

    Founded in 2009, Pelham Smithers Associates has steadily built up a blue chip institutional stock investing client base as paying readers of its research. We are fortunate in having benefited from word of mouth recommendations. We are recognised by our clients as a go-to provider of in-depth analysis and explanation of new technologies emanating from Japan and the impact of these on both Japanese companies and companies globally.

    One of the firm’s founders, Pelham Smithers, is a world expert on consumer technology trends and appears regularly in the financial media. Another, Julie Boote, is a high-profile commentator on automotive technology, having started her career at Ford Motor. In aggregate, our research team has accrued over a hundred years of knowledge while carrying out Japanese equity research.

    PSA produces both company and sector reports. These tend to focus on the manufacturing technologies at the core of companies’ endeavours. We aim to identify the winners and losers as new technologies come to impact the top and bottom lines of corporations. Central to PSA research is clear explanation of how these new technologies work and how they affect both companies and industries.  While our primary focus is on Japanese equity research, our approach enables us to discover investment opportunities outside of Japan.

    PSA also produces widely read daily and weekly commentary. Our daily tends to pick up on the development of themes previously identified in PSA reports. The PSA weekly summarises recently produced reports and collates the daily commentary plus analysts’ additional short comments, week by week.

    PSA’s clients include globally-renowned mutual funds as well as smaller, even start-up, specialist investment advisors.

    PSA research is available on Factset, Thomson Reuters, S&P Capital IQ, Bloomberg (PSAZ), RSRCHX and Research Pool. Research can also be sent by PSA’s sales team email to PMs and analysts.

    If you would like to discuss terms for research provision to your firm by Pelham Smithers Associates, kindly contact Co-Founder James Ford, either by email, at james@pelhamsmithers.com, or by calling +44 (0)20 3740 5500.

    Weekly Comment
    by Pelham Smithers

    In a week which has seen Japan’s weighting in the MSCI World index further diminished, Pelham emphasises how active, informed investment is the key to successful investment in Japan………

    Read more

    Weekly News

    The Must Read PSA Weekly Research Round-Up

    Dec 03

    Highlights this week: REPORTS: Ferrotec (6890 JT) / INDUSTRY INSIGHTS: Is the Metaverse for work or play? / PC build prices continue to rise / First signs of improvement on the auto chip front / US November auto sales fall on chip supply shortage / Miserable for IT Services / Is the smartphone boom over? / MACRO: Economic data remains mixed / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS Zoom sues Zoom / Sony’s acquisition spree continues / Mitsubishi Chemical to exit petrochemicals / Nissan presents electrification plan / Toyota’s electrification plans: new models, new pledges / Z Holdings issues PayPay Card /

    Nov 19

    Highlights this week: REPORTS: Money Forward (3994 JT) / Semiconductor / SPE Super Cycle / INDUSTRY INSIGHTS: Should we be buying video game stocks (along with video game stocking fillers)? / Japan government to subsidize LiB plants, reports say / Our explanation for the continued semiconductor boom / MISCELLANEOUS, MARKET & MACRO: Bloomberg Sep quarter Topix OP/share +12% YoY / Kishida’s US$700bil stimulus package / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Sony criticizes Activision’s response / Nvidia and the rise of the DPU / GungHo’s FY21 Q3 OP +36.1% YoY / Ferrotec’s FY22 guidance well received

    Nov 12

    Highlights this week: REPORTS: Daikin (6367 JT) / INDUSTRY INSIGHTS: A tale of two video game companies / MARKET & MACRO: Japan revises up, grudgingly / Japan’s PPI +8% YoY / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Tokyo Electron 2Q FY21 OP +81% YoY / JSR hikes full-year guidance / SoftBank Group 2Q Net Loss ¥397bil / Isuzu reports FY21 Q2 results / Improved profit outlook at Nissan / Mazda keeps FY21 OP forecast unchanged despite weaker sales / Suzuki keeps its FY21 forecasts / Daifuku seeing supply chain issues / Trend Micro’s FY21 Q3 beats / GMO Financial Gate’s FY21 sales beats/ Giftee revised down FY on weak Q3

    Nov 05

    Highlights this week: REPORTS: Shift (3697 JT) Square Enix (9684 JT) COMPANY NEWS: Toyota presents the new bZ4X EV / Money Forward offers free cloud storage service to lure customers / COMPANY PREVIEWS & RESULTS: Nintendo 2Q FY21 OP -32% YoY / Square Enix 2Q FY21 OP +66% YoY / TDK’s punchy new guidance / Those Lasertec orders… / Tokyo Seimitsu 2Q OP +123% YoY / Dexerials hikes OP estimate 76.5% / Toyota’s solid 2Q performance / Honda cuts FY21 forecast on lower auto sales / Mitsubishi Motors raises its FY21 OP forecast / Subaru lowers guidance numbers on supply crisis / Plus additional COMPANY PREVIEWS& RESULTS

    Oct 29

    Highlights this week: REPORTS: Nidec (6594 JT) / TIS (3626 JT) / MARKET / MACRO: Kyodo poll hints at LDP-led coalition government / COMPANY INSIGHTS & NEWS: Sony’s 2Q FY21 OP up marginally / GameWith acquires DetonatioN’s eSports team / Last man standing in discussions on Apple’s EV batteries? It’s Panasonic / Sekisui Chemical’s aerospace impairment loss / COMPANY PREVIEWS & RESULTS: Sony’s 2Q FY21 OP up marginally / Koei Tecmo 2Q OP +65% YoY; readacross to Square Enix / Shinko Electric 2Q OP +361% YoY / Nitto Denko: FY21 good, but what about FY22? / Canon revises down / Plus additional COMPANY PREVIEWS & RESULTS

    Oct 22

    Highlights this week: REPORTS: Shin-Etsu Chemical (4063 JT) / GA Technology (3491 JT) / Nomura Research Institute (4307 JT) / Industry Insights: Might video game stocks’ earnings surprise on the upside? / Can MLCCs suffer while semiconductors do well? / Survey results on intention to use PayPay / China auto sales drop sharply in September / Company Insights: News / Previews & Results / Nintendo ups the ante with Switch Online / analyst downgrade / Sony sells one of its mobile gaming units for US$1bil / Disco 2Q smashes published consensus / Ferrotec shares overreact to LAM guidance disappointment / Plus additional COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS

    Research Categories

    Auto Sector

    Analysis of global automobile companies with a special focus on Japan’s assemblers…

    Read more

    Auto Parts

    Looking at auto component makers in a separate context from their respective…

    Read more

    Internet

    The main focus is on internet companies in the Far East. This covers companies involved in…

    Read more

    Telecomms

    Analysis of the Japanese telecoms sector, highlighting differences in business strategy…

    Read more

    Electronic Parts & Materials

    The main focus is on Japan’s electronics industry supply chain firms…

    Read more

    Consumer Electronics

    Analysis of the global electronics market with a focus on the role Japanese companies…

    Read more

    Strategy

    In the first week of every calendar year Pelham Smithers writes the substantive…

    Read more

    Capital Goods

    Analysis focuses primarily on automation and robotics…

    Read more

    Pharmaceuticals

    Analysis of the Japanese pharmaceuticals sector with particular focus on…

    Read more

    Video Games

    Analysis of the Japanese video sector including the nascent eSports market…

    Read more

    Reports

    We produce 5 types of research – PSA Today is our daily product, that focuses on the companies and sectors PSA analysts cover. It is integral to our evolving research and is a vehicle for analysts to confirm or change their investment views. PSA Weekly highlights what the PSA team has produced in the week. It summarises PSA’s published reports; contains analysts’ key company / sector comments; and includes a weekly strategy comment. It is also where the team likes to signpost their ideas for the week to come. In-depth Company provides detailed analysis of individual companies. Company Update are the follow up to the reports we have written. In-depth Sector provides a detailed analysis of the sectors our analysts cover.

    PSA Today

    PSA Weekly

    Company Update

    In-depth – Sector

    In-depth – Company

    Weekly News
    Media
    Our Team
    Categories
    Contact Us
    Weekly News
    Media
    Our Team
    Categories
    Contact Us

    If you are interested in subscribing to our services please complete the form below


      By using this form you agree with the storage and handling of your data by this website.

      Go to Top