The Must Read PSA Weekly Research Round-up (week to 13 June)

Reports published this week on LINE (3938 JP) – Better Viewed as a Growth Stock / Nabtesco (6268 JP) Q1 FY18 Update / Pelham Smithers looks at the Japanese Video Game Sector / Pelham Smithers highlights LiB-related MLCC opportunities for Murata (6981 JP) and its comparison to Rohm (6963 JP) / Joel Scheiman looks at the opportunities for Japanese LiB supply chain with regards to CATL in Germany / Julie Boote notes the markets lacklustre response in shares of Subaru (7270 JP)

The Weekly Comment by Pelham Smithers

Generally speaking, this era of globalization of world trade has seen countries / economic blocks increase the role of trade in the economy. If that sounds self-evident, it is worth noting that there are two exceptions, and they are big ones. Exports: GDP in the US is less than 12%, just 2ppts above where it was in the early 90s, while China’s is actually lower. By comparison, Exports: GDP for the EU have risen from 25% to 45% since 1994.

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

1. LINE (3938 JP) – Better Viewed as a Growth Stock
2. Japanese Video Game Sector: Ranking Video Game Stocks as We Head into Summer Holidays
3. Nabtesco (6268 JP) Q1 FY18 Update: Pessimism Reflected in Share Price

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Panasonic (6752 JP) “Interested” in Working with Tesla (TSLA US) in China, yet to be Invited 4
2. EU Signalling Changes to Online Platform System for Music

Technology: Industrial Electronics, Electronic Components, SPE

3. Murata (6981 JP) and the Lithium Battery-Related MLCC Opportunity Space
4. Tale of two xEV Component Suppliers: Murata (6981 JP) and Rohm (6963 JP)
5. Nikon (7731 JP) to Acquire Chuo Sangio

Chemicals

6. Zeon (4205 JP) Rebounds on Share Buybacks
7. CATL in Germany an Opportunity for Japan’s LiB Supply Chain

Autos

8. Nissan (7201 JP) Admits to Emission Data Manipulation
9. Subdued Performance of Auto Sector Despite Sharp Yen Depreciation
10. Subaru (7270 JP) Fails to Inspire with New Mid-term Plan

Auto Parts / Machinery

11. Excavator Makers Hit by Downgrade
12. Good FY18 Q1 Results and the Strong USD Buoy Takeuchi (6432 JP)
13. In-Line FY18 Q1 for Yaskawa

Internet / eCommerce

14. Kitanotatsujin (2930 JP) Sees Profits Double, Sales Surge
15. MonotaRO (3064 JP) Delivers Strong Sales Figures for June

Telecom

16. SoftBank (9984 JP) Files to IPO its Mobile Business

Pharma

17. Eisai (4523 JP): Questions Raised over BAN-2401 Data

PSA Company Visits, Tours and Interviews

• Conference call with Ube Industries (4208 JP), Yaskawa (6506 JP)

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