REPORTS: Japan Market Strategy MACRO: Sector performance on Mar 23 underscores defensive, balance sheet, and oil sensitivity of the market INDUSTRY INSIGHTS: US auto market in crisis; Flash, DRAM prices diverging; Will Covid-19 end the LBP business model?; Plus additional COMPANY INSIGHTS
REPORTS: CyberAgent (4751 JT) - Offering Resilience and Value MACRO / MARKET: INDUSTRY INSIGHTS: Growing doubt on 2020 launch of PS5 / Xbox X; ERP Software, the Systems Integration Sector and the market rout last week; Top-line growth leaders in machinery sector fare well; Plus additional COMPANY INSIGHTS
Highlights this week: REPORTS: WingArc1st (4432 JT): A Pre-Listing Gander; Mazda (7261 JT) – Improved Fundamentals but Recovery Delayed; MACRO / MARKET: Fiscal response worries and more weak data; Trump “on tilt” Covid-19 & the Japanese new economy / old economy dichotomy Companies to investors: (some) Japanese shares are cheap. WingArc1st pulls its IPO, again Plus INDUSTRY & COMPANY INSIGHTS
Highlights this week: REPORTS: Daikin (6367 JT): cost (Depreciation) Reduction; 2020 Theme; MACRO: Poor Feb department store sales; Liquidity boost; Disappointing comments from Abe Diet Speech; INDUSTRY INSIGHTS: Covid-19 impacting Japan 5G rollout; 8Gb DRAM above US$3.00; Japanese automakers record strong Feb US auto sales; Autos: Concern over further supply chain disruptions; Automakers aiming for profitable EV business; Plus additional COMPANY INSIGHTS
