The Must Read PSA Weekly Research Round-up (week to 10 Dec)

REPORTS: The Importance of the DPU and why we think the Arm deal ought to be blocked / Is disruption being disrupted? / Alps Alpine (6770 JT) / Nabtesco (6268 JT) / Giftee (4449 JT) / ‘Tis the season for IPOs: What to expect from the cloud / SaaS Sell-off / MISCELLANEOUS, MARKET & MACRO: 3Q GDP revised down / PPI data / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: iPhone production surge? / Sony in PlayStation subscription service launch report / Square Enix launches Final Fantasy XIV Endwalker expansion pack / Nexon acquires Warhammer licence / Life Science to boost JSR’s growth / Miraial revises up and raises dividend / Nissan / MMC minis: production halts on failed inspection

The Weekly Comment by Pelham Smithers

A couple of weeks ago, Pelham Smithers highlighted the importance of several upcoming economic data points. Detailing the data now that it is out, he explains that the figures are generally better than might have been feared and that “Muddle through” remains in place.

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

1. Market Strategy: Is Disruption Being Disrupted?
2. The Importance of the DPU and Why We Think the Arm Deal Ought to be Blocked
3. Alps Alpine – Is There a Growth Story to Enhance a Cyclical One?
4. Nabtesco (6268 JT) – Balance Sheet Strength: Record OP in Q4 FY21 and Q1 FY22
5. Giftee (4449 JT): Clouded by Uncertainties
6. ‘Tis the Season for IPOs: What to Expect from the Cloud
7. Does the SaaS Bloodbath Provide Buying Opportunities?

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Apple (AAPL US) in iPhone Production Surge?
2. The Death of the Green Screen?
3. Sony in PlayStation Subscription Service Launch Report
4. Square Enix Launches Final Fantasy XIV Endwalker Expansion Pack
5. Nexon (3659 JT) Acquires Warhammer Licence
6. Console Sales Data

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

7. DRAM Prices Rising Again, NAND Still Falling
8. The Importance of The DPU and Why We Think the Arm Deal Ought to Be Blocked
9. Other Tech-Related News & Moves That Caught Our Eye

Chemicals / Materials

10. Life Science to Lift JSR’s (4185 JT) Growth
11. Miraial (4238 JT) Gives Positive FY21 Guidance and Hikes Dividend

Autos

12. Toyota’s (7203 JT) Electrification Plans: New Models, New Pledges
13. Toyota (7203 JT) to Use a Dedicated European Platform for Alternative Powertrains
14. Mazda (7261 JT) Presents First Toyota-Based Hybrid Model in Europe
15. Japan’s BEV / PHEV Market is Set to Grow Substantially in 2022
16. Nissan (7201 JT) and MMC (7211 JT) Minis: Production Halts on Failed Inspections

Auto Parts / Machinery

17. Is Komatsu Too Gloomy on FY22 China Demand?

Internet / eCommerce

18. Mercari (4385 JT): Concerns on Cyber Safety
19. Rakuten (4755 JT): Glitches with Rakuten Pay
20. LINE Pay Incurs Another Incident
21. Z Holdings (4689 JT) Sets Self-Tender Offer Price
22. GREE (3632 JT) Extends its Losing Streak

Enterprise Software

23. Does the SaaS Bloodbath Provide Buying Opportunities?
24. ‘Tis the Season for IPOs and There’s Plenty in the Cloud

Telecom

25. SoftBank Group (9984 JT) Shares See Saw

Pharma

26. Concerns on Covid Vaccine Efficacy See Fujifilm (4901 JT) Sold Down
27. Actemra Approved in EU Gives Chugai Pharm (4519 JT) Shares a Boost

Miscellaneous

28. Other News & Moves That Caught Our Eye

Market / Strategy / Macro

29. Is Disruption Being Disrupted?
30. Japan’s Q3 GDP Revised Down

PSA Company Visits, Tours and Interviews

• Visited: Dexerials (4980 JT), Kaneka (4118 JT), Mitsui Chemicals (4183 JT), Wacom (6727 JT), Nabtesco (6268 JT)
• Conference Calls with: Diamond Electric (6699 JT), MinebeaMitsumi (6479 JT)
• Presentations at: JSR (4185 JT), Asahi Kasei (3407 JT), Sekisui Chemical (4204 JT)

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