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

REPORTS: Developments in the PC Industry – Implications for the Component Suppliers / BayCurrent Consulting (6532 JT) / Can China Hurt the West with a Rare Earth Export Ban? Lessons from the 2010~11 Spat with Japan / Time to consider SBI Holdings / INDUSTRY INSIGHTS: Some big moves in bitcoin and crypto stocks / Rare earth exports / COMPANY RESULTS / INSIGHTS: Murata, Access develop the “JIGlet” / NieR Re(in)carnation: straight in at No.1 in the download charts / Nabtesco FY20 results call disappoints on robot gears / Plus additional COMPANY RESULTS & INSIGHTS

The Weekly Comment by Pelham Smithers

We now know from company results that Japan had a good “Covid War”, as CY20 results go to show. Can cost-saving lessons continue to benefit Japan Inc. asks Pelham Smithers.

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

1. Developments in the PC Industry and Implications for the Component Suppliers
2. BayCurrent Consulting (6532 JT) – A Quick Take
3. Can China Hurt the West with a Rare Earth Export Ban? Lessons from the 2010~11 Spat with Japan
4. Time to consider SBI Holdings (8473 JT)

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Good Moves in Video Game Console Makers
2. NieR Re(in)carnation: Straight in at No.1 in the Download Charts

Technology: Industrial Electronics and Electronic Components

3. Murata, Access Develop the “JIGlet”
4. Asset Sale at NEC (6701 JT)
5. Hitachi’s (6501 JT) New AI-Based Disaster Surveillance System

Technology: Semiconductor Production Equipment & Precision

6. Semi Shortages Continue; Japan Jan SPE Billings +6% YoY

Technology Fintech: Bitcoin / Cryptocurrency and Blockchain

7. Strong Bitcoin / Crypto-Related Moves
8. SBI Holdings (8473 JT) Presents a Potential Opportunity

Chemicals / Materials

9. Tokyo Ohka’s (4186 JT) Possibly Cautious Guidance
10. Shin-Etsu Chemical’s (4063 JT) Limited Rare-Earth Risk / Update on Texas Plants
11. Showa Denko (4004 JT) Expecting a Second Year of Net Losses
12. Rare Earth Exports and Lessons from the 2010~11 Spat with Japan


13. Mixed Performance for Auto Stocks at the Start of the Week
14. Honda’s (7267 JT) Change to Leadership
15. Mazda (7261 JT) Tops US Consumer Reports Reliability Ranking
16. Bridgestone’s (5108 JT) Path to Recovery, Aiming to Become New Mobility Solution Provider

Auto Parts / Machinery

17. Diamond Electric (6699 JT) Soars 82% WoW
18. Nabtesco (6268 JT) FY20 Results Call Disappoints on Robot Gears


19. SoftBank Corp (9434 JT) Announces a New Low-Price Plan
Internet / eCommerce
20. Dentsu’s US$1.5bil Loss

Enterprise Software

21. Cybozu Confirms FY20 Preliminary Results
22. Newcomer Freee KK Surpasses Old Timer TIS’s Market Cap


23. Micro- / Small-cap Moves that Caught Our Eye

PSA Company Visits, Tours and Interviews

• Visited: TDK (6762 JT), Kaneka (4118 JT), Dexerials (4980 JT)
• Conference Calls with: Diamond Electric (6699 JT), Nabtesco (6268 JT), Toyota Motor (7203 JT), Hope Inc (6195 JT)
• Results Meetings: Tokyo Ohka Kogyo (4186 JT), Showa Denko (4004 JT)
• Contacted: Shin-Etsu Chemical (4063 JT), Toyota Industries (6201 JT), Daikin (6367 JT), Daifuku (6383 JT), Nabtesco (6268 JT)

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