Aug 21

Aug 21

PSA2026-08-27T14:56:23+00:00

Highlights this week: Advanced materials analyst Nicky provides details of several key technological developments discussed at the IEEE’s [Institute of Electrical and Electronics Engineers] Hot Interconnects Conference. Of note was Meta’s AI networking architecture and photonic computing firm Lightmatter's insights on the vital role photonics plays in scale-up systems. Lindsay reports back on her email exchange with ExaWizards discussing the sharp drop in the FY26 Q1 GPM and what to expect going forward.

Aug 21PSA2026-08-27T14:56:23+00:00

Aug 14

Aug 14

PSA2026-08-27T14:28:01+00:00

Highlights this week: With the bulk of results out of the way, analyst Pelham assesses the big picture for Japan’s gaming stocks, highlighting his top picks and noting which firms he remains negative on. Also in this note is a recap of the recent results comments. Internet Initiative Japan has reported its FY26 (Mar yr-end) Q1 results. With the market likely shifting focus to the significant sales beat and the surge in System Integration orders, Lindsay reviews the Q1 performance and outlook for the full year.........

Aug 14PSA2026-08-27T14:28:01+00:00

Aug 07

Aug 07

PSA2026-08-20T16:02:57+00:00

Highlights this week: Pelham reviews Capcom’s excellent FY26 Q1 performance, assesses the outlook to FY28 and has raised his forecasts. He also reviews the FY26 Q1 performance of Bandai Namco and Nintendo, both of which reported results this week and raises key questions for the full-year and beyond. Meanwhile, the last five (Nissan, Honda, Mitsubishi Motors, Toyota, Mazda) Japanese automakers have released their FY26 Q1 results, Julie reviews their performance for the full year ………………

Aug 07PSA2026-08-20T16:02:57+00:00

Jul 31

Jul 31

PSA2026-08-07T14:32:19+00:00

Highlights this week: Julie previews Toyota’s FY26 Q1 results which look set to be boosted by the currency. However, she explains why she does not anticipate an upward revision to the full-year. Meanwhile Konami’s Q1 performance smashed consensus estimates but the firm left the full-year guidance unchanged, as Pelham notes that the shares are still below last year’s. Lindsay looks at NEC as they raised its full-year FY26 guidance on a consensus busting Q1 and notes that this is a strong start for the year......

Jul 31PSA2026-08-07T14:32:19+00:00

Jul 24

Jul 24

PSA2026-07-31T15:07:51+00:00

Highlights this week: Both Obic (4684 JT) and OBC (4733 JT) produced FY26 results that beat consensus estimates. Lindsay reviews the performance and discusses whether current valuations are justified. Pelham highlights two strands of the same AI infrastructure story – the fear that cheaper, more efficient AI models could undermine chip demand, and the evidence from memory markets that AI-related demand is still absorbing rising supply. Natsuko accesses Shin-Etsu Chemical modest set of FY26 Q1 results ...........

Jul 24PSA2026-07-31T15:07:51+00:00

May 29

May 29

PSA2026-06-12T09:52:37+00:00

Highlights this week: In efficient markets, it shouldn’t matter what time of year you buy & sell a stock. But it seems to with Hitachi. Pelham asks, “Is the pattern set to repeat in 2026 or will this year be different?” Meanwhile, most automakers published upbeat FY26 guidance numbers, despite facing increasingly difficult market conditions. Julie assesses each firm’s forecasts & whether they can meet them or not. Thao updates her numbers following CyberAgent's strong FY26 Q2 results and maintains her positive stance..........

May 29PSA2026-06-12T09:52:37+00:00

May 15

May 15

PSA2026-05-29T14:44:01+00:00

Highlights this week: Pelham takes us through Capcom’s results and FY26 outlook, meanwhile Lindsay looks at JMDC’s share price decline as a clear message of the market’s disappointment in the company’s earnings, based on the weak FY26 OP guidance, it draws our attention to other companies in the IT Service Sector, that are more attractive options. Thao reviews CyberAgent’s FY26 Q2 performance & concludes that the full-year guidance now looks conservative. Julie takes a look at Isuzu, who have produced FY25 Q4 OP.....

May 15PSA2026-05-29T14:44:01+00:00

Apr 17

Apr 17

PSA2026-05-15T16:24:33+00:00

Highlights this week: Japanese video game stocks have had a tough start to 2026 with the third-party publishers sold off on concerns that AI would undermine their business models, while the console makers have been sold off over rising memory costs, in store sales of video games from Japanese publishers have been selling well. Pelham provides previews, flagging what to expect for FY25 and what to watch out for in the new forecasts. Julie Boote previews Toyota’s FY25 Q4 results [due 8 May], anticipating a beat FY25........

Apr 17PSA2026-05-15T16:24:33+00:00

Apr 03

Apr 03

PSA2026-04-17T15:45:10+00:00

Highlights this week: When you think about companies at the forefront of the AI boom, initial thoughts go to the likes Nvidia, OpenAI, Anthropic & Alphabet, rather than a Japanese firm. Yet Japan has done very well out of the AI boom on the AI solutions side with demand for Japanese materials producers has picked up. Pelham asks if there’s a case to be made that something similar might happen with oil – a commodity that Japan is notoriously short of. Lindsay looks at BayCurrent, who are expected to announce its FY25 results mid-April…..

Apr 03PSA2026-04-17T15:45:10+00:00

Mar 27

Mar 27

PSA2026-04-03T13:41:40+00:00

Highlights this week: Ahead of Denso’s presentation of its mid-term strategy plan next week, analyst Julie reviews the company's business and earnings outlook. Denso is facing challenges on the sales side, such as the slowdown in EV sales growth, surging R&D expenses, quality expenses and rising input costs. Thao looks at Trend Micro who are navigating one of the most important strategic transitions in its 35 year history as it shifts from a traditional security vendor to a unified, platform centric cybersecurity leader............

Mar 27PSA2026-04-03T13:41:40+00:00