The Must Read PSA Weekly Research Round-up (week to24 Mar)

Reports Published on NOK (7240) and Toyota (7203)

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

1. Toyota (7203) FY17 Outlook – Toyota’s Achilles Heel: North America
2. NOK (7240): Visit Feedback – Two Negative Surprises

Company / Sector / Thematic Comments at a Glance

Technology: Electrical Components / SPE / Industrial Electronics / Consumer Electronics / Gaming

1. Murata (6981): IHP SAW Filter for the 2.4GHz ISM Band – This Matters / Artic Sands Purchase
2. Where are we in the Semiconductor Cycle? Opportunities in Japan
3. Semiconductor BB Ratios: Data Remains Strong – Read-Across to Ferrotec (6980)
4. Ferrotec (6890): 19.5% Dilution from Rights Issue
5. Hitachi Group in a New Round of Asset Shuffling
6. Announcements from Nintendo (7974), Sega Sammy (6460)
7. Square Enix (9684): Battalion 1944 Attracting Attention but Capcom’s (9697) Offerings Wane
8. Toshiba (6502): Might it IPO the Flash Business?

Chemicals / Electronic Materials

9. Hitachi Chemical (4217): Steps Up Activity in Biotech and Batteries
10. Sawafuji Electric (6901): A New Source for Hydrogen – Shares +95% WoW; Read-Across to Iwatani (8088)
11. Nissha Printing (7915): A Tough Year, but What is to Follow?


12. SoftBank (9984): Pulls out of Smartphone Investment – it’s a Vision Thing


13. CyberAgent (4751): Positive Developments Continue
14. mixi (2121): Expansion of the Media Platform Business Doesn’t Improve the Risk Profile
15. DeNA (2432): Neutral Stance Maintained

PSA Visits Record

• This week PSA visited NOK (7240)

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