The Must Read PSA Weekly Research Round-up (week to 28 Jun)

REPORTS: HITACHI (6501 JT): Restructuring Post Recovery / Time to Refocus on Japan’s Fintech Revolution? / Nippon Shokubai (4114 JT) and the Sanyo Chemical (4471 JT) Merger / INDUSTRY INSIGHTS: Plastic waste initiatives could use more coordination / A/C recovery / More CASE partnerships as automakers lay foundations for future growth /  COMPANY INSIGHTS: Understanding the new NEC / The “breaking up Panasonic” exercise / Cybozu raises FY OP, Sales guidance /  LINE Conference 2019 feedback / Subaru quality concerns still an issue / Caprolactam a worry for Ube Industries / ZOZO announces ZOZOMAT

The Weekly Comment by Pelham Smithers

Facebook’s unveiling of Libra shines a light on the issues that Japan’s banking-digitalisation-efforts have struggled with. Pelham Smithers discusses the key features of Libra and highlights several Japanese blockchain plays that are on his radar.

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

1. Nippon Shokubai (4114 JT) and the Sanyo Chemical (4471 JT) Merger
2. Hitachi – Restructuring Post Recovery
3. Time to Refocus on Japan’s Fintech Revolution?

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming

1. The “Breaking Up Panasonic” (6752 JT) Exercise
2. What Will Loeb Do if Sony (6758 JT) Disagrees?
3. Not Fun for Colopl (3668 JT) at the Moment
4. Nexon (3659 JT) Sale Nixed

Technology: Industrial Electronics / SPE / Components

5. Understanding the New NEC (6701 JT)
6. Murata (6981 JT) in Solid-State Battery Move
7. Fujitsu (6702 JT) Gain on US Sanctions of Chinese Computers

Technology: Cryptocurrencies / Blockchain

8. Bitcoin Continues to Rally: Time to Refocus on Japan’s Fintech Revolution?

Chemicals / Materials

9. Caprolactam a Worry for Ube Industries (4208 JT)
10. Plastic Waste Initiatives Could Use More Coordination


11. China’s EV Market Deregulation Could Benefit Foreign Automakers and Battery


12. Subaru (7270 JT) Quality Concerns Still an Issue
13. Honda’s (7267 JT) Mean Mower Breaks Record
14. More CASE Partnerships as Automakers Lay Foundations for Future Growth Businesses

Auto Parts / Machinery

15. Defence Stocks Blip Up
16. CRJ Deal Neutral-Plus for MHI
17. A/C One-Day Dip on Cool Forecast


18. ZOZO (3092 JT) Announces ZOZOMAT
19. LINE (3938 JT) Conference 2019

Enterprise Software

20. Cybozu (4776 JT) Revises FY19 Forecasts


21. M&A in Pharma

PSA Company Visits, Tours and Interviews

• Visited: Intelligent Wave (4847 JT), NOK (7240 JT), Toyota (7203 JT)
• Interviewed / Conference Call with: Yahoo Japan (4689 JT), Cybozu (4776 JT), Ichikoh (7244 JT)
• Attended strategy / mid-term plan announcement meetings at: HCM (6305 JT)

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