The Must Read PSA Weekly Research Round-up (week to 19 June)

REPORTS: SPE: the capex quandary / The rise of Japan’s online real estate industry / INDUSTRY INSISGHTS: Europe’s auto sales continue to tumble in May / April camera shipments -66% YoY / Japan cashless payments now at 22% / MARKET / MACRO: Q1 2020 profits hit hard after all / IPO action returning / China data / Plus additional COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

Pelham chronicles the rise and fall of Pepper Food Services, as its stand-up steakhouse format, and the company itself, now seems poised for annihilation. The first quoted company to founder as a result of Covid-19, it is unlikely to be alone.

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

1. The SPE Capex Quandary
2. The Rise of Japan’s Online Real Estate Industry

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Nintendo (7974 JT) Hits ¥50,000
2. EA (EA US) to Bring Seven Games to Switch
3. Sony (6758 JT): PS5 Post-Reveal Details & Clarifications
4. Sony (6758 JT): Sideways Readthrough from the Launch of Last of Us 2
5. Sega Sammy’s (6460 JT) New Pachislot Game
6. Sharp Moves in Home Entertainment Plays

Technology: Semiconductor Production Equipment & Precision

7. Tokyo Electron’s (8035 JT) FY20 Guidance Ahead of Street
8. The SPE Capex Quandary
9. April Camera Shipments -66% YoY

Chemicals / Materials

10. Toray (3402 JT) Shares Weak on Carbon Fiber Outlook

Autos

11. The Long-awaited Nissan (7201 JT) Rogue Debuts in the US
12. Toyota (7203 JT) Sees Improved US Retail Sales
13. Suzuki (7269 JT) Gets Help from Toyota (7203 JT) to Meet EU Emission Targets
14. European Auto Sales Continue to Tumble in May

Telecom

15. SoftBank Group (9984 JT): Asset Sales
16. Covid-19 Threat to Mobile Stores’ Face-to Face Upselling

Internet / eCommerce

17. Z Holdings (4689 JT): Positive Development Continues
18. Recruit (6098 JT): Further Improvement for Indeed Job Postings
19. GA Technologies’ (3491 JT) Upward Trend Continues
20. The Rise of Japan’s Online Real Estate Industry

Enterprise Software

21. Nice Win for Cybozu (4776 JT)
22. Japan Cashless Payments Now at 22%
23. What Do the CAFIS Fee Changes Mean for NTT Data (9613 JT)?

Pharma

24. Shionogi’s (4507 JT) New Covic-19 Vaccine; To Make Intermediates for AnGes (4563 JT)
25. Takeda (4502 JT) Receives FDA Warning Letter

Miscellaneous

26. IPO of GMO Financial Gate a Reminder of the GMO Internet (9449 JT) Discount
27. Sharp Sell-Off at Casa (7196 JT) On Poor Results
28. Park24’s (4666 JT) Poor FY20 Q2 Results

Market / Strategy

29. Market Moves this Week
30. IPO Action Returning / Moves in MOTHERS
31. Q1 2020 Profits Hit Hard After All

Macro

32. China Data

PSA Company Visits, Tours and Interviews

• Interviewed / Conference Call with: : Asahi Kasei (3407 JT), Ube Industries (4208 JT), Mitsui Chemicals (4183 JT) BASE (4477 JT); Freee (4478 JT), PCA Corp (9629 JT) NTT Data (9613 JT)
• Participated in earnings call with: (shareholder call) Cybozu (4776 JT)

PSA in the Press

• Zenger News: Pelham Smithers discusses the Nintendo Switch: https://rollingout.com/2020/06/15/why-nintendos-sales-are-skyrocketing-during-the-global-pandemic/

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