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

REPORTS: Yaskawa (6506 JT) FY19 Q3 Preview: Weak Q3 Could be Lower Than Expected / Yaskawa (6506 JT) FY19 Q3 Results: OP -82% YoY / Robotics & China Weak / US Auto Market Shows Resilience in 2019 / Carlos Ghosn Speaks Out / Plus 15 INDUSTRY & COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

Pelham Smithers comments on the importance of Japan’s capex numbers not only next week, but for 2020 as a whole

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

1. Yaskawa (6506 JT) FY19 Q3 Preview: Weak Q3 Could be Lower Than Expected
2. Yaskawa (6506 JT) FY19 Q3 Results: OP Down 82% YoY / Robotics & China Weak
3. US Auto Market Shows Resilience in 2019
4. Carlos Ghosn Speaks Out

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. 2019 Review and 2020 Outlook for Video Games Market
2. Sony (6758 JT) Unveils Protype AD EV; Fate / Grand Order Tops Twitter Charts

Technology: Electronic Components and Precision

3. NEC (6701 JT) Demonstrates its Strength in AI
4. How 5G Curtailed the Semiconductor Downturn / Stock Selection Implications

Technology: Bitcoin / Cryptocurrency and Blockchain

5. Growing Appetite for Stablecoins
6. LNG in the US and Bitcoin Mining

Chemicals / Materials

7. Fujifilm (4901 JT) Decides to Dissolve Contract with Xerox

Autos

8. Mixed US Auto Sales Results for Japanese Assemblers
9. Toyota Moves beyond Mobility
10. Carlos Ghosn Accuses Nissan of Framing Him

Auto Parts / Machinery

11. Yaskawa Electric (6506 JT) Q3 Disappoints
12. Daifuku Shares Hit 23-Month High: So Much Going On

Telecom

13. Is SoftBank Group (9984 JT) The Big Short of 2020?

Enterprise Software

14. IIJ (3774 JT) Seeing Improving ASPs in MVNO Business
15. MonotaRO (3064 JT) Dec Sales +17.9% YoY

PSA Company Visits, Tours and Interviews

• Conference Call with: Fujifilm Holdings (4901 JT)

PSA In the Press

• Machinery analyst William Nestuk was quoted in a Bloomberg article on Jan 8 regarding Yaskawa’s results.

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