The Must Read PSA Weekly Research Round-up (week to 30 Jun)

Market Comment…Risk-on Trade / Nissan (7201) Report – Further Deterioration in NA Profitability Expected

The Weekly Comment by Pelham Smithers

In the short term, the rotation of the market over the past three days into risk-on stocks may be just that – market rotation – but by the end of the year, we would expect to see the risk-on trade well bedded into the market…

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

1. Autos: Nissan (7201) – Further Deterioration in NA Profitability Expected

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming / Components / Industrial Electronics

1. Panasonic (6752): Retakes LiB No. 1 Spot in 2016
2. Hollywood Auditing Chinese Box-office Statistics Could be Good Timing for Sony (6758)
3. Nintendo (7974): Rebound in Switch Sales Short-lived
4. Square Enix (9684): Final Fantasy XV: A New Empire Mobile Release Disappoints FF Purists
5. Toshiba Memory Saga Time-Line: WDC Renews Bid / Toshiba Sues WDC / At War With WDC
6. Nikon (7731): Re-reports FY16 Numbers Based on IFRS

Chemicals / Electronic Materials

7. Sumitomo Chemical (4005): Bayer Tie-up in Soy Fungicides / OLED Plans Make Headlines
8. A Changed Diaper Trend in 2016
9. Fujifilm Holdings (4901): Little Reason to be Alarmed
10. Taiyo Nippon Sanso (4091) versus Showa Denko (4004) in 3D NAND Gases

Autos / Auto Parts / Machinery

11. So, it is Farewell to Takata (7312)
12. The A/C Business of Daikin (6367) vs Mitsubishi Electric (6503)

Telecom / Internet

13. Sprint in Two-Month Talks with Comcast, Charter: We See Mergers Ahead
14. Mixi (2121): Fight League Losing the Battle in the Rankings
15. GREE (3632) vs CyberAgent (4751): The Market Has Taken Opposite Views
16. Yahoo Japan (4689): Outlook Remains Positive and Valuations are Undemanding

Pharma

17. Some Good News for Chugai (4519, and Some Not So Good News for SDP (4506)
18. Nichi-iko Pharma (4541): Struck Deals to Develop Biosimilars with Third Parties

List of PSA Published Reports Since Q2 2017 to Date

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