The Must Read PSA Weekly Research Round-up (week to 21 Apr)
REPORTS: Money Forward (3994 JT) / Renesas (6723 JT) / Japan’s Cashless Payment Market / Industry Insights: March video game console sales in Europe / Capacitor production slumps in February / Is EUV capex set to fall? / IRA EV tax credit list published: no Japanese models qualify / Japan’s Big 3 present new models at Shanghai auto show / Mixed picture for EV sales in March / MISCELLANEOUS, MARKET & MACRO: How enthusiastic are foreign investors about Japan? / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Sega Sammy to buy Angry Birds maker Rovio / Capcom / Niantic to launch mobile Monster Hunter game / Sony to spin out PlayStation business? / Might Nintendo unveil a Switch Pro-Like replacement for holiday season 2023? / Disco FY22 4Q OP +11% YoY but FY23 Q1 OP guidance -24% YoY / Alps Alpine cuts OP forecast / Nidec set to release upbeat FY23 guidance numbers / Zeon Corp writes down S-SBR assets, again / Is Nissan back to its old ways?
The Weekly Comment by Thao Nguyen
With cashless payment penetration in Japan at a record high, Thao Nguyen looks at the current issues affecting Japan’s cashless market.
Reports / Flash Notes Published This Week: Headlines at a Glance
1. Money Forward (3994 JT) Joins Shift (3697 JT) and Sansan (4443 JT) in Trouncing Market Estimates
2. Renesas (6723 JT) – What Next?
3. Japan’s Cashless Penetration Rate Tops 36%
Company / Sector / Thematic Comments at a Glance
Technology: Consumer Electronics, Gaming
1. March Video Game Console Sales in Europe: PS5 Sales Surge
2. Sega Sammy (6460 JT) to Buy Angry Birds Maker Rovio for US$776mil
3. Capcom (9697 JT) to Launch Mobile Monster Hunter Game Co-developed by Niantic
4. Sony (6758 JT) to Spin Out Its PlayStation Business?
5. Might Nintendo (7974 JT) Unveil a Switch Pro-Like Replacement for Holiday Season 2023?
6. Other Consumer Elec / Gaming News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
7. Is EUV Capex Set to Fall?
8. Feb Capacitor Production Slumps
9. Alps Alpine (6770 JT) Slashes its FY22 OP Forecast
10. Disco FY22 4Q OP +11% YoY but FY23 Q1 OP Guidance -24% YoY
11. Nidec (6594 JT) Set to Release Upbeat Guidance Numbers
12. Other Tech-Related News & Moves That Caught Our Eye
Chemicals / Materials
13. Zeon (4205 JT) Writes Down S-SBR Assets, Again
Autos
14. IRA EV Tax Credit List Published. No Japanese Model Qualifies
15. Japanese Big 3 Present New Models at Shanghai Auto Show
16. Mixed Picture for EV Sales in March
17. Is Nissan (7201 JT) Back to its Old Ways?
18. Other Auto-Related News & Moves That Caught Our Eye
Auto Parts / Machinery
19. Auto Part / Machinery News & Moves That Caught Our Eye
Internet / eCommerce
20. Digital Salary Payment Ban in Japan Now Lifted
21. CyberAgent’s (4751 JT) Uma Musume Approved in China – Will Revenues Make it into FY23 Earnings?
22. Other Internet / eCommerce News & Moves That Caught Our Eye
Enterprise Software / IT Services
23. Money Forward (3994 JT) Produces Excellent FY23 Q1 Results
24. NRI (4307 JT) FY22 Q4 Preview
25. Other ERP Software / IT Services News & Moves That Caught Our Eye
Pharma
26. Pharma News & Moves That Caught Our Eye
Miscellaneous / Market / Strategy / Macro
27. Just How Enthusiastic Are Foreign Investors About Japan?
PSA Company Visits, Tours and Interviews
Visited / Contacted: Email Q&A with Sansan (4443 JT) and Money Forward (3994 JT)
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