The Must Read PSA Weekly Research Round-up (week to 22 Jan)

REPORTS: GA Technologies (3491 JT) / Yaskawa Electric (6506 JT) / INDUSTRY INSIGHTS: Minamitori Island’s undersea mining project / Smartphone payments continue to rise / MACRO: US retail sales weak / Japan’s IP decline worsens / China data Q4 GDP weak, but CY20 is ahead of forecasts / COMPANY INSIGHTS: Might PS6 be unaffordable? / Capcom’s RE8 reveal / Nidec President suggests OEMs will not be makers of future EV engines / Plus additional COMPANY INSIGHTS & RESULTS

The Weekly Comment by Pelham Smithers

The way BASE Inc’s business model is altered by its involvement with Raccoon and Hamee should also inform the way BASE Inc is valued, explains Pelham Smithers.

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

1. GA Technologies (3491 JT) – Growth at an Attractive Price
2. Yaskawa Electric (6506 JT) 2020 Q3 Results: Q4 China Upswing / Global Order Recovery in December

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Might a PS6 be Unaffordable?
2. Capcom (9697 JT) Revises Up (Again!) / RE8 Reveal
3. Panasonic (6752 JT) Develops Covid Vaccine Storage Containers

Technology: Industrial Electronics and Electronic Components

4. Nidec’s (6594 JT) President / COO Discusses Business in China; and He Expects OEM Makers to Exit the EV Motor Business

Technology: Semiconductor Production Equipment & Precision

5. Positive Readthrough for Nikon from ASML Numbers

Chemicals / Materials

6. Mitsubishi Chem’s (4188 JT) Covid Stories
7. Chemical Shares Perk Up Going into Earnings

Autos

8. Strong End of Year Sales for Toyota (7203 JT): Toyota Not in The Same League as GM, Hyundai?
9. Renault’s (RNO FP) New Business Plan:
10. Improved Outlook for Auto Electrification in Japan

Telecom

11. IIJ (3774 JT) to Potentially Post Record Earnings

Internet / eCommerce

12. Smartphone Payments Continue to Rise
13. Fast Retailing’s (9983 JT) Uniqlo to Add Own Payment Feature to App
14. CyberAgent Subsidiary Makuake (4479 JT) Ties Up with a Crowdfunding Platform
15. Z Holdings (3489 JT) Lowers FY Dividend

Enterprise Software

16. NTT Data (9613 JT) Acquires US SAP Supply Chain Software Consultancy
17. ERP-Related Moves that Caught Our Eye
18. Raccoon (3031 JT) in Another “Uriho” Accounts Receivable Deal

Miscellaneous

19. Other Moves that Caught Our Eye

Macro

20. US / China / Japan Data Releases

PSA Company Visits, Tours and Interviews

• Visited: Tokyo Ohka Kogyo (4186 JT)
• Telephone Interview: Yaskawa Electric (6506 JT), Daifuku (6383 JT)

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