The Must Read PSA Weekly Research Round-up (week to 09 Apr)

REPORTS: Square Enix (9684 JT): Why Final Fantasy VII Remake is so important /
Nabtesco (6268 JT): Doors, dividends and cost control / MACRO: Japan to lockdown / State of emergency package; corporate responses and sector implications / Industry insights: China auto sales decline decelerates in March / Covid-19 impact on automakers’ financial services / Will Japan’s state of emergency force remote working in earnest? / Read across from Samsung’s March Q results / Plus additional COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

Japan’s experience of Covid-19 up until this week was reminiscent of a phoney war. This is now no longer the case, explains Pelham

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

1. Strategy: What Next? More of the Same? Reversal? Very Different?
2. Why Final Fantasy VII Remake is So Important to Square Enix (9684 JT)
3. Nabtesco (6268 JT): Doors, Dividends and Cost Control

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Why Final Fantasy VII Remake is So Important to SQE

Technology: Electronic Components and Precision

2. Read Across from Samsung Electronics’ (005930 KS) March Q Results

Chemicals / Materials

3. Avigan Plays: Denka (4061 JT) / Fujifilm (4901 JT) –Ph 2 Trials to Begin in the US
4. Asahi Kasei’s (3407 JT) 32% Drop in March Housing Orders No Big Surprise

Autos

5. China Auto Sales Decline Decelerates in March
6. Covid-19 Impact on Automakers’ Financial Services

Auto Parts / Machinery

7. Nabtesco (6268 JT) Up 11% over 4 Days, Daifuku (6383 JT) Pausing

Telecom

8. Implications for Rakuten (4755 JT) Under Japan in Lockdown Scenario

Internet / eCommerce

9. CyberAgent (4751 JT) Fairly Resilient to Covid-19
10. Kakaku.com (2371 JT) to Expand tabelog Takeout

Enterprise Software

11. Will Japan’s State of Emergency Force Remote Working in Earnest?
12. TIS (3626 JT) to Beat FY19 Guidance, as Expected
13. Bellsystem24 (6183 JT) Forgoes FY20 Forecast Amid Covid-19 Uncertainty
14. IIJ (3774 JT) Hits a 52-Week High

Miscellaneous

15. What Will FY Results of Kitanotatsujin (2930 JT) Indicate for Online Companies?
16. Seven & I (3382 JT) Q4 Results Show Little Impact from Covid-19

Macro / Strategy

17. Japan’s Emergency Package: Corporate Responses / Sector Implications

PSA Company Visits, Tours and Interviews

• Interviewed / Conference Call with: TDK (6762 JT), Yaskawa Electric (6506 JT) call booked for Apr 10
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