The Must Read PSA Weekly Research Round-up (week to 23 June)

Reports on a Visit to Cambridge Mechatronics / Canon / Toyoda Gosei

The Weekly Comment by Pelham Smithers

The IAIA industrial activity 2.1% MoM rise in April was not only above expectations, it is the fastest MoM growth since early 2009. Next, do we continue to accelerate away on the economic front, or do we slow down?

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

1. Technology: Cambridge Mechatronics Visit – Calibration-Controlled SMA Wire Technology…Read-across to Alps (6770), TDK (6762)
2. Technology: Canon (7751) – A Business in Need of a Tough Fitness Coach
3. Auto Parts: Toyoda Gosei (7282): Steadily Inflating – Earnings & Airbags

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming / Components / Industrial Electronics

1. Nintendo (7974): Switch Production Update / Arms Release / Mkt Cap Now Exceeds Sony’s
2. Video Game Stocks hit 52-week Highs – Square Enix (9684) Undervalued
3. Nexon (3659): To Release LawBreakers on 8th August
4. Tesla China Plans to Further Boost Panasonic’s (6752) Position in the Tesla Eco-System
5. Performance of Alps (6770) vs Murata (6981)
6. MLCC Prices Hiked in Taiwan – Read-across to Murata (6981) and Taiyo Yuden (6976)
7. Sony (6758): Loses TV Executives to Apple
8. Might Abe’s Declining Popularity Scupper Casino Legislation? Addictive Gambling Bill
9. NEC (6701): Doing Better, Sort of
10. Toshiba (6502): Files for Deadline Extension; is Demoted to TSE2
11. Digital Camera Sales: Will We See D-SLR Sales Register a YoY Increase?

Chemicals / Electronic Materials

12. Fujifilm (4901): Seeing Great Interest in Instant Cameras
13. Boeing Layoffs – Another Inauspicious Sign for Toray (3402)
14. Shin-Etsu Chemical (4063): Magnets Attract Further Investment

Autos / Auto Parts / Machinery

15. Toyota (7203): New Camry Launch – Critics are Impressed
16. Is Defying Mr Trump the New Thing in the Auto Industry?
17. Mitsubishi Motors (7211): Le Cost Killer and the Group
18. Ichikoh (7244): The Best Performing Auto Part
19. The Robotics Plans of Yaskawa (6506), Nabtesco (6268) and Fanuc (6954)

Telecom / Internet

20. DTE Board Keen on Sprint / TMUS Merger – Read-across to SoftBank (9984)
21. Yahoo Japan (4689): Buried Treasure?
22. mixi (2121): Low Valuations, Outcome is Binary

Pharma

23. Cyberdyne (7779): Resubmits FDA Application for medical-HAL – We Would Not be Short
24. PeptiDream (4587 JP) and Modulus Tie-Up / PSA’s Top Biotech Basket Picks

PSA Company Visits, Tours and Interviews

• Results and strategy meetings for Kikaku Seisakusho (3444)
• Visited Sekisui Chemical (4204), Showa Denko (4004), Kaneka (4118), Mitsubishi Chemical Holdings (4188), Toray (3402), Fujifilm Holdings (4901), Nissan Chemical (4021)
• Conference call with Toyoda Gosei (7282)

List of PSA Published Reports Since Q2 2017 to Date

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