The Must Read PSA Weekly Research Round-up (week to 20 Jan)

Reports published on Defensive Sector Strategy / Yahoo Japan / NOK

Reports / Flash Notes: Headlines at a Glance

1. Strategy: Defensive Sectors – Telcos and Pharma: Telco offers a Hedge to the Risk-on Trade
2. Internet: Yahoo Japan (4689): The Road to a Brighter Future
3. NOK (7240): At a Discount & Poised to Recover

Company / Sector / Thematic Comments at a Glance

Technology: Industrial Electronics / Electronic Components / Precision

1. Toshiba (6502) Considers Spinning Off 20% of its Chip Business to WDC / Write-offs Mount / LNG Exposure
2. ASML (ASML NA) EUV Orders Imply the End of Nikon’s (7731) Leading-Edge Lithography

Chemicals / Electronic Materials

3. A look at EUV Customers and Materials Suppliers
4. TSMC Q4 Results Read-Across to JSR (4185), Sumco (3436) and Shin-Etsu Chemical (4063)
5. Batteries Blamed for Note 7 Fires: Read-across to TDK’s (6762) Subsidiary ALT, Samsung SDI (006400 KS), Panasonic (6752), Murata (6981), GS Yuasa (6674)
6. Sumitomo Chemical (4005): Still Waiting for Higher Petro Rabigh Profits
7. Ube Industries (4208): CPL Price Hikes Good News but China Capacity Hikes Lie in Wait
8. Sony (6758) and Fujifilm (4901) Bicker Over Magnetic Tape Patents

Technology: Consumer Electronics / Games

9. Capcom’s (9697) RE7 to Utilize Microsoft’s “Play Anywhere” Mode
10. Square Enix (9684): FFXV Launch Sales are a Huge Improvement over FF13
11. Sony (6758): PS4 Sales Struggle in December; to Sell Film TV Business?
12. Nintendo (7974): Fire Emblem Launch Details
13. Gumi (3903): Back on Track?
14. Capcom (9697): Implications for RE7 of PSVR Shortage

Autos / Auto Parts

15. Honda (7267) More Upbeat than Toyota (7203) in 2017 Unit Sales Estimates


16. Aircon Plays Continue to Blow Hot, not Cold: Melco (6503) Making Headway
17. Valeo (FR FP) Completes its Majority Stake Acquisition in Ichikoh Industries (7244)


18. Nippon Shinyaku (4516): NS-065 Gets Orphan Status
19. Ono (4528): Bristol Myers (BMY US) Will Not Prioritize Yervoy / Opdivo Combo


20. Japanese App Market in a Global Context in 2016

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