The Must Read PSA Weekly Research Round-up (week to 04 Apr)
Reports / Flash Notes Summaries
1. Japan Stock Market Quarterly for 2025 Q2
The decision to go ahead with tariffs is clearly a blow for Japan and the Japanese stock market, but the economy is fitter than it was, and it can probably handle such blows better than in the recent past, particularly as the economy is picking up momentum. In this strategy piece, we look at the similarities in the Japanese stock market between now and twenty years ago, the anticipated battle between tariffs and momentum, and where winners and losers at a sector level might be found.
2. What to Look for in the Switch 2 Reveal
Ahead of the 2 April Switch 2 reveal, gaming expert Pelham Smithers lists what he is hoping to see in terms of hardware and third-party games.
3. What Is Happening to Nidec’s Share Price?
Nidec shares have been sold off on the back of concerns regarding its exposure to the ailing auto sector, and as interest in the AI theme has cooled down. Are the doubts over Nidec’s prospects justified? Analyst Julie Boote investigates.
4. Money Forward and Freee’s Market Caps Converge
Money Forward [MF] and Freee’s market caps have been converging as the latter starts a recovery from all-time lows. Freee’s earlier shift to operating profitability has attracted investor attention, as MF guides for a deceleration in sales growth for its FY25. However, over the long-term, MF is looking more attractive. Analyst Lindsay Whipp explains.
Industry Insights
Video game industry round-up
Amid the gloom, NAND prices rising
President Trump confirms 25% auto import tariffs
Automakers consider measures to deal with US tariffs
Company Insights: News / Previews & Results
Winners and losers from the Switch 2 reveal
Monster Hunter Wilds hits 10mil unit sales mark
Long-term risks for Suzuki as India opens its doors to BYD
Nissan and Renault further loosen ties
Yaskawa’s Q4 disappoints
Shimadzu update
Demae-can: A revisit
Shift Inc: FY25 Q2 preview
NTT Data launches ‘Agentic AI’ services – the Bot’s boss
Asahi Kasei, US housing and Canadian lumber
Shimadzu update
Intermestic reports March KPIs
Miscellaneous / Market / Macro
Japanese economic data shows economy heating up nicely
Tankan mixed, but points to good days ahead for services
The Weekly Comment by Pelham Smithers
US President Donald Trump’s “cure” for the US economy has financial markets reeling and is driving talk of a global recession.
It is rare to see an economic cure that is worse than the illness, but Pelham Smithers reminds us that we have been here before, notably Japan in 1989~90.
Company / Sector / Thematic Comments at a Glance
Technology: Consumer Electronics, Gaming
1. Video Game Industry Round-up
2. Winners and Losers from the Switch 2 Reveal
3. Monster Hunter Wilds Hits 10mil Unit Sales Mark
4. Other News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
5. Amid the Gloom, NAND Prices Rising
6. Nidec Goes Ahead with Tender Offer for Makino Milling
7. Other News & Moves That Caught Our Eye
Chemicals / Materials
8. Asahi Kasei’s US Housing / Canadian Lumber Operations and Tariffs
9. Other News & Moves That Caught Our Eye
Autos / New Mobility
10. President Trump Confirms 25% Auto Import Tariffs
11. Auto Companies Consider Measures to Deal with US Tariffs
12. India Opens Its Doors to BYD – Long-Term Risks for Suzuki
13. Nissan and Renault Further Loosen Ties
14. Other News & Moves That Caught Our Eye
Auto Parts / Machinery / Capital Goods
15. Yaskawa FY24 Q4 Preview / Results
Internet / eCommerce
16. Demae-can: A Revisit
17. Other News & Moves That Caught Our Eye
Enterprise Software / IT Services
18. Shift Inc: FY25 Q2 Earnings Preview
19. Introducing the Bot’s Boss: NTT Data Launches ‘Agentic AI’ Services
20. Other News & Moves That Caught Our Eye
Pharma / Healthcare
21. Shimadzu Update
22. Other News & Moves That Caught Our Eye
Small- / Mid-cap Insights
23. Intermestic Reports March KPIs
Miscellaneous / Market / Strategy / Macro
24. Japanese Economic Data Shows Economy Heating Up Nicely
25. Tankan Mixed but Points to Good Days Ahead for Services
26. Other News & Moves That Caught Our Eye
PSA in the Press
PSA’s gaming expert Pelham Smithers is quoted in two Bloomberg articles:
Nintendo Shares Tumble as Switch 2 Price Weighs: Street Wrap [3 Apr] Stakes High for Switch 2 After Nintendo’s Stock Valuation Surges [2 Apr]
Autos / New Mobility analyst Julie Boote features in the following Bloomberg article:
Espinosa Takes Helm at Nissan at One of the Carmaker’s Lowest Points [31 Mar]
PSA Company Visits, Tours and Interviews
Presentations at: Yaskawa Electric (6506 JT)
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