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PSA 2020-06-26T16:17:33+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 Pelham Smithers

After a fortnight’s macro data famine, every day of next week will deliver important clues about the state of Japan’s economy, explains Pelham…….

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Weekly News

The Must Read PSA Weekly Research Round-Up

June 26

Highlights this week: REPORTS: Base Inc (4477 JT) INDUSTRY INSIGHTS: Video game stock strategy for H2 2020 5G, the post-Covid “dog that hasn’t barked” – yet Opportunities in enterprise solutions Japan’s cashless penetration rate reaches 26.8% More partnerships in autonomous drive space China adjusts NEV rules Plus additional COMPANY INSIGHTS

June 19

Highlights this week: REPORTS: SPE: the capex quandary; The rise of Japan’s online real estate industry; INDUSTRY INSIGHTS: Europe’s auto sales continue to tumble in May; April camera shipments -66% YoY; Japan cashless payments now at 22%; MARKET / MACRO: Q1 2020 profits hit hard after all; IPO action returning; China data; Plus additional COMPANY INSIGHTS

June 05

Highlights this week: REPORTS: Japan Stock Market Strategy “Beyond Post-Covid” INDUSTRY INSIGHTS: Memory price falls hint at end demand problem for tech US auto sales contraction eased in May Survey shows company IT spending plans remain robust despite Covid-19 Japanese megabanks study digital currency expansion LiB supply chain stocks are recovering MACRO / MARKET: Money supply surging Household spending Nikkei trending “Post-Lockdown” Plus additional COMPANY INSIGHTS

May 29

Highlights this week: REPORTS: Z Holdings (4689 JT) NRI (4307 JT) MinebeaMitsumi (6479 JT) MACRO: Could, should, the economy have been worse last month? COMPANY RESULTS / INSIGHTS Sony slashes PSVR Mega Pack price / Sony’s June 3 event expected to be PS5 unveil SQE’s games moving up the charts Hitachi’s FY19 4Q OP +178% YoY Plus additional COMPANY INSIGHTS & RESULTS

May 22

Highlights this week: REPORTS: Sony (6758 JT) Industry Insights Global governments to introduce additional support measures for EVs Washington-Beijing Huawei spat hits suppliers Chemical earnings: where we stand MACRO / MARKET Topix inches towards 1500 Interesting PMI data The schizophrenic world of Japanese tech names Plus additional COMPANY RESULTS, PREVIEWS & 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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