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PSA2021-02-26T15:54:40+00:00

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    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 Julie Boote

    Chairman Osamu Suzuki, who masterminded Suzuki Motors’ momentous decision to enter the India motor market, is finally retiring at the age of 91. Julie takes this opportunity to assess Suzuki’s ambitions regarding EV and other challenges and considers them in the context of rivals Mazda and Subaru.
    …..

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    Weekly News

    The Must Read PSA Weekly Research Round-Up

    Feb 26

    Highlights this week: REPORTS: Daikin (6367 JT) Subaru (7270 JT) INDUSTRY INSIGHTS: Japan mobile game sales +50% YTD January auto production hurt by chip shortage MARKET / STRATEGY: JGB yields hit 5-year high Five stocks for bargain hunters to consider COMPANY INSIGHTS: Sony warns on PS5 chip production, announces PSVR2 SQE’s NieR Re(in)carnation falls from top position in charts Plus additional COMPANY INSIGHTS

    Feb 19

    Highlights this week: REPORTS: Developments in the PC Industry – Implications for the Component Suppliers BayCurrent Consulting (6532 JT) Can China Hurt the West with a Rare Earth Export Ban? Lessons from the 2010~11 Spat with Japan Time to consider SBI Holdings INDUSTRY INSIGHTS: Some big moves in bitcoin and crypto stocks Rare earth exports COMPANY RESULTS / INSIGHTS: Murata, Access develop the “JIGlet” NieR Re(in)carnation: straight in at No.1 in the download charts Nabtesco FY20 results call disappoints on robot gears Plus additional COMPANY RESULTS & INSIGHTS

    Feb 12

    Highlights this week: REPORTS: Money Forward (3994 JT) Daifuku (6383 JT) INDUSTRY INSIGHTS: Caution on the outlook for video game plays Time for AI stocks to make a comeback? MACRO: Producer prices / Tokyo office vacancy rates COMPANY NEWS / PREVIEWS & RESULTS: Gaming: Results from Bandai Namco / Nexon / KLab Autos / Auto-Parts: Results from Toyota / Honda / Nissan / Diamond Electric Machinery: Results from Daikin / Daifuku / Nabtesco ERP Software: Results from TIS / Cybozu Telecom / Internet / eCommerce: SoftBank / Rakuten Chemicals / Electronic Materials: Sumi Chemical Plus additional COMPANY INSIGHTS

    Feb 05

    Highlights this week: REPORTS: PSA’s Annual Global Auto Sales Outlook: 2021 INDUSTRY INSIGHTS: Debate widens on semis and 5G MACRO: Covid cases Japan’s Jan monetary base +18.9% YoY China’s Caixin’s Jan Composite PMI down from 55.8 to 52.2 COMPANY NEWS, PREVIEWS & RESULTS: Technology: Consumer & Ind’l Electronics / Components / SPE / Precision Sony / Nintendo /Konami / SQE / Panasonic / Hitachi / Rohm / TDK / Kyocera / Lasertec / Nihon Kohden / Megachips / Ibiden / Nikon Plus additional COMPANY NEWS, PREVIEWS & RESULTS

    Jan 29

    Highlights this week: REPORTS: Is the bull market in capacitors set to extend to electrolytes? Yaskawa (6506 JT) Fanuc (6954 JT) INDUSTRY INSIGHTS: Japan government to lift ban on digital salary payments? Hydrogen plays in the news again Modified polyimide as an alternative to LCP in 5G circuits MACRO: Cash squeeze in China Japan’s macro data suggests it remains in a “muddle through” scenario Plus additional COMPANY PREVIEWS, RESULTS & INSIGHTS

    Research Categories

    Auto Sector

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

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    Auto Parts

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

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    Internet

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

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    Telecomms

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

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    Electronic Parts & Materials

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

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    Consumer Electronics

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

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    Strategy

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

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    Capital Goods

    Analysis focuses primarily on automation and robotics…

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    Pharmaceuticals

    Analysis of the Japanese pharmaceuticals sector with particular focus on…

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    Video Games

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

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    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
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    Weekly News
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