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

REPORTS: Daifuku (6383 JT) / Mazda (7261 JT) / GA Technologies (3491 JT) /
MACRO: Oct industrial production and job offers: applicants / INDUSTRY INSIGHTS: Mobile game revenues continue to impress / Japan to phase out ICEs, Toyota’s dominance set to increase / COMPANY INSIGHTS: NEC starts offering 5G as a service / Update on Nanobridge / Plus additional COMPANY & INDUSTRY INSIGHTS

The Weekly Comment by Pelham Smithers

Arguably the biggest surprise about the PS5 is the genre of games which are available at launch, says Pelham.

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

1. Daifuku (6383 JT) – Margins Jump in FY22
2. Mazda (7261 JT) – Opportunities and Risks
3. GA Technologies (3491 JT) – FY20 Preview

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Mobile Game Revenues Continue to Impress
2. Gaming Moves that Caught Our Eye

Technology: Industrial Electronics and Electronic Components

3. NEC (6701 JT) Starts Offering 5G as a Service
4. Update on Nanobridge

Chemicals / Materials

5. Wafer Player Moves
6. Being No.2 in Silicon Wafers May be Overrated

Autos

7. US November Sales: Toyota Outperforms
8. Japan to Phase Out ICEs: Toyota’s Dominance Set to Increase
9. Toyota Presents Second Generation Mirai in Europe

Auto Parts / Machinery

10. Automation Still Rising to New Listing Highs
11. Denso (6902 JT) / Koito (7276 JT) Hit 2-Year Highs on EV Theme

Internet / eCommerce

12. Recruit’s (6098 JT) International Secondary Offering and Buyback / Sell-off Continues
13. Mixi (2121 JT) Sold Off on a Broker Downgrade

Enterprise Software

14. Stacking Up Against Slack: SaaS Valuations in the Japanese Context
15. Sansan (4443 JT) Invests in Fringe81’s (6550 JT) P2P Collaboration Platform

Miscellaneous

16. Other Moves & News That Caught Our Eye

Macro

17. Japan’s Industrial Prod’n / Retail Sales / Jobs: Applicants / China’s Manufacturing PMI

PSA Company Visits, Tours and Interviews

• Visited: Shin-Etsu Chemical (4063 JT)
• Conference Calls / Email Q&As with: Asahi Kasei (3407 JT), Sumitomo Chemical (4005 JT), Minebea-Mitsumi (6479 JT), Koito (7276 JT), Daifuku (6383 JT), Denso (6902 JT), Sansan (4443 JT)

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