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

REPORT: Mercari (4385 JT) / What Now for the Flip Chip Package Makers? / Blessed are the Bean Counters: An Update / INDUSTRY INSIGHTS: Global video game revenues +4% YoY in Q1 2022 with a pick-up in May / iPhone 14 leaks suggest subdued upgrade / April semiconductor shipments weaker than they look / DRAM prices down 10% QTD / Fertilizer shares rise along with titanium / US auto sales plunge in May / Is the auto industry facing a demand problem? / Japan’s BNPL players hit by the launch of Apple Pay Later / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Sony PS5 State of Play / PS5 shipments / Capcom’s Showcase / Sony, Honda may IPO EV JV / Can Panasonic leverage Blue Yonder? / Tokyo Electro’s Mid-Term Plan / Intel pushes back Sapphire Rapids SP launch / Nidec to streamline chip procurement

The Weekly Comment by Pelham Smithers

Pelham Smithers discusses Japan’s wage data and notes that not only is it turning up, it is doing so surprisingly rapidly.

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

1. Mercari (4385 JT) – A Revisit
2. What Now for the Flip Chip Package Makers?
3. Blessed are the Bean Counters: An Update
Cash Earnings in April Highest for that Month Since 2003

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Global Video Game Revenues +4% YoY in Q1 2022
2. Video Game Console Sales Pick Up in Last Week of May
3. iPhone 14 Leaks Suggest Subdued Upgrade
4. Sony PS5 State of Play Suggests 2023 Should be a Good Year for the System
5. PS5 Shipments Hit 20mil Mark
6. Sony, Honda (7267 JT) May IPO EV JV
7. Can Panasonic (6752 JT) Leverage Blue Yonder?
8. Media Speculation Over Just Cause
9. Capcom (9697 JT) Showcase on 13 June
10. Other Consumer Elec / Gaming News & Moves That Caught Our Eye

Technology: Industrial Electronics / Components / Semis & SPE / Precision

11. What Now for the Flip Chip Package Makers?
12. DRAM Prices Down 10% QTD
13. April Semiconductor Shipments Weaker than They Look
14. Intel (INTC US) Pushes Back Sapphire Rapids SP Launch
15. Tokyo Electron (8035 JT) Mid-Term Plan Targets Moderate Growth, Improved Margins
16. Nidec (6594 JT) to Streamline Chip Procurement
17. Worrisome Comments from Intel (INTC US) Sends Semiconductor Names Lower
18. Other Tech-Related News & Moves That Caught Our Eye

Chemicals / Materials / Electronic Materials

19. Shofu Inc (7979 JT) Rises on Government’s Dental Policy
20. Fertilizer Shares Rise Along with Titanium
21. Nissha (7915 JT) Targets High Auto Market Sales
22. Fujifilm (4901 JT) Ups Investment in Electronic Materials
23. Other Chemical / Material-Related News & Moves That Caught Our Eye


24. Could the Auto Industry Face a Demand Problem?
25. US Auto Sales Plunge in May
26. Subaru (7270 JT) Boosts Global Production / Toyota (7203 JT) Misses its April Production Target
27. Nissan (7201 JT) Shares Rise on Strong Ariya Demand

Auto Parts / Machinery

28. Ferrotec (6890 JT) Firm Ahead of Conference Call / Bids for Majority Stake in Affiliate
29. Heavies Hit New Highs; Are Defense Stocks ESG-Compatible?
30. Weak Yen Benefits Ferrotec and the Heavies
31. Denso (6902 JT) Holds Semiconductor Conference Call
32. Diamond Electric’s (6699 JT) Disappointing Call
33. Other Machinery News & Moves That Caught Our Eye

Internet / eCommerce

34. Mercari (4385 JT) Confirms Move to Prime Market and Topix
35. Japan’s BNPL Players Hit by Launch of Apple Pay Later
36. Demae-can (2484 JT) Rises the Most in Six Months
37. Other Internet / eCommerce News & Moves That Caught Our Eye

Enterprise Software / IT Services

38. ExaWizards (4259 JT) Forms Tie-Up with Nursing Care Big Data Company
39. TIS (3626 JT) to Offer AI Educational Programmes


40. Astellas (4503 JT) Licensing Deal with GO Therapeutics
41. Other Pharma News & Moves That Caught Our Eye


42. Other News & Moves That Caught Our Eye

Market / Strategy / Macro

43. Macro Releases

PSA Company Visits, Tours and Interviews

• Visited: IHI (7013 JT), Ferrotec (6890 JT), Daifuku (6383 JT), JSR (4185 JT), Asahi Kasei (3407 JT), Tokyo Ohka Kogyo (4186 JT)
• Conference Calls with: Ferrotec (6890 JT), Diamond Electric (6699 JT), Sumitomo Seika (4008 JT), Fujimi (5384 JT), Ohara Inc. (5218 JT)
• Presentations at: Denso (6902 JT), Fujifilm Holdings (4901 JT), Nissha (7915 JT), Sumitomo Chemical (4005 JT), Mitsui Chemicals (4183 JT), Teijin (3401 JT)

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