The Must Read PSA Weekly Research Round-up (week to DD MMM)

REPORTS: CyberAgent (4751 JT) in FY23 is Different from CyberAgent in FY21 / Valve’s Steam Deck: New Competition for the Switch / INDUSTRY INSIGHTS: Mobile game sales picking up in Asia on Covid / Government subsidies for EVs, HEVs, FCVs / Slight China pullback overshadows 3-year peak in July machinery orders / MACRO / MARKET: LDP loses Yokohama seat / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: TSMC raises prices, but DRAM price slide accelerates / NEC regains No.1 spot for face recognition technology / Sony film unit sale talk is back / Square Enix and Panasonic develop a new wearable gaming speaker system / Toyota to build fuel cell modules for trucks in the US / Denso eases concerns on production issues / Plus additional COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS

The Weekly Comment by Pelham Smithers

PSA’s auto analyst Julie Boote chronicles and considers the global chip supply crisis.

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

1. CyberAgent (4751 JT) in FY23 is Different from CyberAgent in FY21
2. Valve’s Steam Deck: New Competitor to Nintendo’s Switch

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Sony (6758 JT) Film Unit Sale Talk is Back
2. Mobile Game Sales Pick Up as Covid Worsens in Asia
3. Square Enix (9684 JT) and Panasonic (6752 JT) Develop a New Wearable Gaming Speaker System

Technology: Industrial Electronics / Components / Semis & SPE / Precision

4. TSMC (2330 TT) Raises Prices, but DRAM Price Slide Accelerates
5. NEC (6701 JT) Regains No.1 Spot in Face Recognition Technology
6. Mixed Reaction in Auto-Tech names on News of Government Subsidies for EVs, HEVs, FCVs
7. Other Tech-Related News & Moves That Caught Our Eye

Chemicals / Electronic Materials

8. Fujifilm (4901 JT) to Invest More in IC Materials
9. Showa Denko’s (4004 JT) Share Issuance Paves Way for a Capex Splurge
10. Negative Sentiment Toward TDK (6762 JT) May be Overdone
11. Asahi Kasei (3407 JT) and Others, Work to Make Green Hydrogen

Autos

12. Toyota (7203 JT) to Build Fuel Cell Modules for Trucks in the US

Auto Parts / Machinery

13. Denso (6902 JT) Eases Concerns on Production Issues
14. Daikin (6367 JT) Posts Consecutive Listing Highs This Week
15. Slight China Pullback Overshadows 3-Year Peak in July Machinery Orders

Internet / eCommerce

16. Demae-can (2484 JT) Announces New Reward Campaigns
17. Rakuten (4755 JT) Raises Stake in Gurunavi (2440 JT)
18. Rakuten Pay Announces New Merchant Fee Campaign

Enterprise Software

19. Money Forward (3994 JT) Surges, Breaking ¥400bil Market Cap
20. Cybozu’s (4776 JT) July Monthly OP Highest Since February

Telecom

21. Concerns on SoftBank Group’s (9984 JT) Use of Alibaba as Loan Collateral

Pharma

22. Shionogi (4507 JT) Completes Phase1/11 Vaccine Trial
23. Other Pharma-Related Moves & News That Caught our Eye

Miscellaneous

24. Other Moves & News That Caught our Eye

Market / Strategy / Macro

25. LDP’s Defeat Might Spur a new Round of Government Spending

PSA Company Visits, Tours and Interviews

• Visited: Shin-Etsu Chemical (4063 JT), TDK (6762 JT), Daikin (6367 JT), Toyota Industries (6201 JT), Nabtesco (6268 JT)

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