The Must Read PSA Weekly Research Round-up (week to 26 Jan)

The PSA Japan Research Round-Up

The Weekly Comment by Pelham Smithers

We enter the weekend with currency markets paying rapt attention to President Trump’s address in Davos, the question being the extent to which he may emphasize an “America first”, protectionist policy. A natural corollary to that policy would be the implementation of a weaker dollar strategy. On the other hand, if his remarks are influenced by what his audience in Davos wants to hear, as opposed to his supporters back home, the reaction could be quite different…

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

1. Yaskawa Electric (6506 JP): FY17 Q3 Results Comment

Company / Sector / Thematic Comments at a Glance

1. Japan eSports Update
2. Positive Implications for SBI Holdings
3. Question Mark Over the Direction of Nidec’s Earnings
4. Shin-Etsu Chemical Revises Up, at Long Last
5. Positive Message for Shin-Etsu in TSMC’s Guidance
6. Japan Display Introduces a New Fingerprint Sensor
7. Internepcon Japan exhibit, Part 1: Auto Sensors and Window Technology
8. Internepcon Japan Exhibit, Part 2: ICs, Circuits and a Surprise LiB Entrant
9. Internepcon Japan Exhibit Part 3: Carbon Fiber for Autos
10. Internepcon Japan Exhibit Part 4: Auto and Data Center Communication
11. Suzuki Falls on Weaker than Expected Maruti Suzuki Earnings and New Royalty Payment Arrangements
12. China New Energy Vehicle Sales Surge in 2017, but Challenges Remain
13. Nissan Plans to Introduce e-Power to the US
14. Toyota Invests in France
15. Self-driving Cars in the Spotlight
16. Fanuc Fast-Forward Confirmed
17. NGK Spark up on EUR, Semiconductor Cycle Considerations
18. CyberAgent’s Results Make for Good Viewing
19. Cryptocurrency-Related Stocks Continue to Rally
20. Nexon Breaks above ¥3,500
21. Yahoo Japan Introduces its New Management Team
22. Takeda’s Adcetris Gets Approval
23. Cosmos Pharmaceutical: Is the Worst Over?
24. Tokyo Steel’s Results Missed Consensus Estimates
25. Nikkei and Currency Markets – Decoupling
26. Foreign Buying of Japanese Equities

List of PSA Published Reports Since Q2 2017 to Date

PSA Company Visits, Tours and Interviews

• Earnings meeting at Shin-Etsu Chemical (4063 JP), CyberAgent (4751 JP)
• Conference call with Iwatani Corp (8088 JP), Japan Display (6740 JP), Yaskawa (6506 JP), Fanuc (6954 JP)

PSA In the Press

Pelham Smithers on Capcom’s (9697 JP) New Game quoted on Bloomberg (Jan 25)
Pelham Smithers on the IPO of SoftBank’s Mobile Business:

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