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


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


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


16. KDDi (9433 JT) Slashes Cancellation Charge


17. Investment Opportunities from Japan’s Dearth of Unicorns


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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