The Must Read PSA Weekly Research Round-up (week to 30 Aug)
REPORTS: Investment Opportunities from Japan’s Dearth of Unicorns / Nissan (7201 JT) in Crisis / INDUSTRY INSIGHTS: Sacrificing cows for cars / China takes first steps to support auto market / MACRO: Contradictory Economic Data / Plus 16 COMPANY INSIGHTS
The Weekly Comment by Pelham Smithers
Pelham Smithers considers the state of the handset market as we move to the age of 5G and is pleasantly surprised.
Reports / Flash Notes Published This Week: Headlines at a Glance
1. Investment Opportunities from Japan’s Dearth of Unicorns
2. Nissan in Crisis
Company / Sector / Thematic Comments at a Glance
Technology: Consumer Electronics, Gaming
1. Sony (6758 JT) Exits Olympus Position
2. PS5 the Most Anticipated Console
3. Panasonic (6752 JT), Trade & Irrelevance
Technology: Industrial Electronics / SPE / Components / Precision
4. NEC (6701 JT) Cumulative Energy Storage Orders Hit 750MW
Chemicals / Materials
5. Punchy FY20 Consensus Estimates for AGC (5201 JT)
6. Miraial (4238 JT) Nudges Up H1 OP Guidance
7. Export of High-Tech Materials to South Korea to Resume
Autos
8. Capital tie-up between Toyota (7203 JT) and Suzuki (7269 JT)
9. Sacrificing Cows for Cars
10. Suzuki (7269 JT) Outperforms on India Auto Support Plan
11. China Takes First Steps to Support Auto Market
Auto Parts / Machinery
12. Automation Up on Window Dressing
13. Ichikoh (7244 JT) Shares Hit Highest Level Since July 11
Internet
14. Recruit (6098 JT) Falls on Secondary Share Offering
Enterprise Software
15. Cybozu (4776 JT) Posts ):Strong July Results, Reminds Investors of Higher Capex in H2
Telecoms
16. KDDi (9433 JT) Slashes Cancellation Charge
Strategy
17. Investment Opportunities from Japan’s Dearth of Unicorns
Macro
18. Contradictory Economic Data
PSA Company Visits, Tours and Interviews
• Visited: Toray (3402 JT), Teijin (3401 JT), Kuraray (3405 JT), Kaneka (4118 JT), Ube Industries (4208 JT), Tokyo Ohka Kogyo (4186 JT)
• Interviewed / Conference Call with: Sumitomo Chemical (4005 JT), Toyota Ind (6201 JT), Ichikoh (7244 JT)
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