The Must Read PSA Weekly Research Round-up (week to 15 Dec)

Reports on NEC, Dexerials, Fuel Cell Vehicles / Must Read Comments on Capcom, Canon, MLCCs, Machinery, Rakuten in the Wireless Industry, Daiichi Sankyo

The Weekly Comment by Pelham Smithers

Pelham looks at the UK’s current inflation picture, compares it to the situation in Japan, and draws conclusions about what investors’ stock-picking strategies for Japan should be……………

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

1. NEC (6701) – Can It Do More than Just Enjoy a Cyclical Recovery?
2. Dexerials (4980) – Wins in Major Devices and Autos Point to a Sustainable Recovery
3. Fuel Cell Vehicles – on a Path to Nowhere? All Major OEMs Still Committed

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Industrial Electronics / Electronic Components / Precision / SPE

1. Government May Ease Laws Limiting Hosting of eSports Tournaments
2. Capcom (9697): Plenty of Reasons to be Excited
3. US video Game Sales Data for November Hint that Sony May See Another Great Quarter
4. Nintendo (7974): WSJ Report Looking for More Support in Mobile – Implications for DeNA
5. Panasonic (6752): Bags a Top Tier Auto Maker for LiBs
6. Cryptocurrency / Blockchain Continues to Entice Investors
7. Canon (7751): Unveils 200mm Tools
8. How is Murata (6981) Doing? – Implications of Stronger MLCC Market
9. New 5G Report Puts Impact at ¥1tril
10. Toshiba (6502) and Western Digital Reach a Settlement

Chemicals / Electronic Materials

11. LCD Alignment Film Market: Competition Expanding
12. Showa Denko (4004): Management’s Update on Strategy Fails to Inspire
13. Carbon Shares Surge on Price Hikes, Steel Makers Slump
14. Asahi Kasei (3407): Zoll Medical Wins Pentagon Contract / Strong Housing Orders


15. Hyundai Motor (005380 KS): FX Concerns Sends Shares Lower

Auto Parts / Machinery

16. Taking Stock of the Machinery Sector
17. Komatsu (6301): Eying Unmanned Construction Vehicles Thanks to Nvidia’s Chip / The Joy of Rising Commodity Prices and Mining
18. November Machine Tool Orders: Rising Both YoY and MoM
19. Nabtesco (6268): Concerns on China High-Speed Rail Orders
20. Daikin (6367): Possibly Less Impact from Impact of Higher Copper Prices

Telecom / Internet

21. SoftBank (9984): Invests Another US$500mil in OneWeb
22. Is a Fourth Player in Wireless Really a Problem for the Other Three?
23. Rakuten (4755): To Become a Wireless Operator?
24. DeNA (2432): Partnership with Nintendo (7974) Going Well
25. CyberAgent (4751): Continues to Deliver Good News
26. (2371): New Pricing Plans are Selling Well


27. Daiichi Sankyo (4568): Loses its Effient Patent Appeal
28. Eisai (4523): Approaching Crunch Time on AD


29. Data Continues to Show Economic Improvement but No Inflation

PSA Company Visits, Tours and Interviews

• Strategy and earnings meeting of Showa Denko (4004), Ohara Inc (5218)
• Conference call with DeNA (2432), (2371), Rakuten (4755), Showa Denko (4004), Asahi Kasei (3407)

PSA In the Press

PSA on Bitcoin derivatives in the Washington Post: Bitcoin Options Are What We Need to Tame This Beast: Gadfly

List of PSA Published Reports since Sept 2017

*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 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.