16 June 2017

The Must Read PSA Weekly Research Round-up (week to 16 June)

Highlighting a Visit to ARM and an report on LINE’s Tech Conference Comments

The Weekly Comment by Pelham Smithers

A visit to ARM in Cambridge…we discuss possibilities for SoftBank (9984) in devices, communication, MM2MM

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

1. Internet: LINE (3938) – Tech Conference Comment

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming / Components / Industrial Electronics

1. Apple (AAPL US): Now Worries over the Modem
2. Nintendo (7974): Low Switch Sales in Japan Again / Market Cap ¥5tril
3. Are we at Peak Game?
4. Toshiba (6502): Georgia Power/ SoTP / Day of Delays / SK Hynix New Suitor

Chemicals / Electronic Materials

5. Japan Display (6740): FY17 Q1 Meeting Shaping up to be Crucial
6. Ube Industries (4208): Reports a Relapse in Spreads
7. Sumitomo Chemical (4005): Ties up with BASF for One of its Fungicides

8. Fujifilm (4901): FY17 Guidance Strikes us as Conservative
9. Kuraray (3405): Cautious Justifications Fall on Deaf Ears

Autos / Auto Parts / Machinery

10. Japanese Automakers Outperforming in China – Honda Stands Out
11. …and the Ghosn saga continues
12. Takata (7312): Set to File for Bankruptcy
13. NOK (7240): Insights on the Apple OLED Phone From our Visit

Internet

14. GREE (3632): We Don’t Agree with the Valuation
15. Rakuten (4755): New Rakuten Direct Not Such a Threat to Yahoo Japan’s (4689) LOHACO

PSA Company Visits, Tours and Interviews

• Results and strategy meetings for Fujifilm Holdings (4901), Ohara Inc (5218)
• Visited Japan Display (6740), Mitsui Chemicals (4183), Nippon Shokubai (4114), Kuraray (3405) and NOK (7240)

List of PSA Published Reports Since Q2 2017 to Date