The Must Read PSA Weekly Research Round-up (week to 07 Jul)

PSA Weekly Research Round-UP

The Weekly Comment by Pelham Smithers

Japan is doing well. This is the message from the latest Tankan figures, released at the beginning of the week… and the indications are that the Japanese economy is moving from a “Goldilocks” situation to an over-heating one. What will FY17 Q1 earnings results tell us…are full year forecasts too conservative?

Reports / Flash Notes Published This Week: Headlines at a Glance

1. Autos: June US Auto Sales – The Japanese Big 3 Outperform

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming / Components / Industrial Electronics

1. Panasonic (6752): Has it Had its Run? – We Think Not
2. Nintendo (7974): Slumps on WSJ Article / PS4 Sales Continue to Outpace Switch Sales
3. Sony (6758): Summer Box Office Outlook
4. Square Enix (9684): Poor Reviews for Final Fantasy XV: A New Empire
5. Qualcomm (QCOM US): Threatens to Halt iPhone Imports to the US
6. The Toshiba Memory Tussle: SK Hynix, Bain, Western Digital, Hon Hai, Macronix
7. Samsung (005930 KS): To Spend US$18.6bil over 4 Years on Memory
8. Canon (7751): In Trouble with the EU
9. Nikon (7731): Back in Favour…for Now

Chemicals / Electronic Materials

10. Asahi Kasei (3407): Hydrogen Hopes
11. Fire Ants Fire Up Pesticide Stocks
12. Konica Minolta (4902): To Up its Stake in Healthcare
13. Toray advances its textiles strategy

Autos / Auto Parts / Machinery

14. Cars for Camembert
15. Repositioning of the Airbag Makers:
16. Daikin (6367): Hits an All Time High This Week Yet Shares Command No Premium

Internet

17. CyberAgent (4751): More Coverage from AbemaTV – it’s Going Swimmingly Well
18. Yahoo Japan (4689): Comparisons with Rakuten / Subsidiary ASKUL Ties Up with Seven & i

Pharma

19. Daiichi Sankyo Pharma (4568): Looks Expensive as Mirogabalin Disappoints

PSA Company Visits, Tours and Interviews

• Results and strategy meetings for Konica Minolta (4902)
• Telephone call with Koito (7276)

List of PSA Published Reports Since Q2 2017 to Date

Topix and Sector EV/OP Table (Available upon request):

If you would like access to the full reports, or see the full list of reports published, please call your PSA sales representative.

You can also find PSA research on FactSet, Thomson Reuters (Reuters Knowledge, Thomson One Analytics, Starmine), Capital IQ, Alpha Exchange and Bloomberg (under PSAZ or by typing in the < stock code> equity CN PSA ), or contact your sales representative.