The Must Read PSA Weekly Research Round-up (week to 20 Jul)

REPORT: Nintendo’s 1Q FY20 Preview / Sony (6758 JT): PS5 Production Plans Raised / MARKET / MACRO: China’s curious economy (statistically speaking) / INDUSTRY INSIGHTS: Auto sector outperforms on hopes for H2 sales recovery / Automation and A/C stocks still hitting new highs / Plus additional INDUSTRY & COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

In after-hours trading on Thursday, Netflix shares shot down from US$527.39 to US$449.65 at one point. Pelham Smithers discusses the need to be on the alert over whether this was merely a case of adjustment amid Covid Play froth, or the harbinger of a sea change for the Covid beneficiaries.

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

1. Nintendo (6758 JT): 1Q FY20 preview
2. Sony (6758 JT): PS5 Production Plans Raised

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming, Components

1. Apple (AAPL US) Reverts to RAM Differentiation on New iPhones
2. Nintendo (7974 JT)1Q FY20 Preview
3. Chinese Whispers Send Sony’s (6758 JT) PS5 Production Plans Higher
4. Simon Cowell Buys Out Sony (6758 JT) from Talent JV

Technology: Industrial Electronics

5. Hitachi (6501 JT) in EV Fleet Grid Move
6. NEC’s (6701 JT) Teleworking Credentials Makes Headlines

Technology: Semiconductor Production Equipment & Precision

7. ASML’s (ASML NA) Results Impact SPE-Plays / Huawei-Plays Also Weak

Technology: Bitcoin / Cryptocurrency and Blockchain

8. Metaps (6172 JT) in Yen Blockchain Move

Chemicals / Materials

9. TSMC (2330 TT) Reports Strong Q2 Amid Widening US-Sino Split
10. Japan Display (6740 JT) in Discussions for OLED Panels
11. Toray and Teijin, How Much Carbon Fiber in a DeLorean?


12. Auto Sector Outperforms on Hopes for H2 Sales Recovery
13. Honda (7267 JT) Buys Stake in CATL (300750 CH)
14. Can Nissan’s New Ariya EV Save the Day? There’s Good and Bad News
15. Suzuki Motor (7269 JT) Rolls Out its Five Millionth Motorcycle

Auto Parts / Machinery

16. Yaskawa (6506 JT) Weaker; Fanuc (6954 JT) Nudge Up
17. Automation & A/C Again

Internet / eCommerce

18. Onward Holdings to Reopen on ZOZO’s ZOZOTOWN
19. Recruit (6098 JT): Improvement in Job Postings Trend in the US Continues

Enterprise Software

20. Sansan Sets Conservative Guidance Amid Covid-19
21. Money Forward (3994 JT): On Track to Hit Higher End of Full-Year Sales Guidance
22. Rakus (3923 JT): Strong FY20 Guidance
23. RPA Holdings (6572 JT) Battles its Second Tough Year
24. VisasQ Brings the Economics of the Expert Network to the Japanese Stock Market
25. CyberAgent (4751 JT) vs Netflix (NFLX US)


26. Densan Systems (3630 JT) Buys IT Security Provider PSI (pvt)
27. AIT Corp (9381 JT) Reports FY20 Q1 OP Growth of 25% YoY
28. Kirindo (3194 JT) Reports FY20 Q1 OP Growth of +133% YoY
29. Onward (8016 JT) Bounces From its 52-Week Low While Muji US is Bankrupt
30. Weak Revenues Sends Inter Action (7725 JT) Lower
31. Kitanotatsujin (2930 JT) FY20 1Q OP Flat


32. China’s Curious Economy [Statistically Speaking] 33. China Trade Numbers

PSA Company Visits, Tours and Interviews

• Interviewed / Conference Calls with: Olympus Corp (7733 JT), Nitto Denko (6988 JT)
• Participated in earnings call with: Yaskawa (6506 JT)

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