The Must Read PSA Weekly Research Round-up (week to 05 Mar)

REPORTS: Ricoh (7752 JT) / INDUSTRY INSIGHTS: Corporate software spend rebounds in Q4 2020 / Among electricals, spring wage negotiations take on a Covid spin / Mobile game net sales surge in 1Q / US auto sales fall in February / Wireless pricing wars / MACRO: Feb PMI / Employment data for Jan / CY20 Q4 capex / Monetary base / Plus COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

Is the Carry Trade on the way back?
Pelham investigates.

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

1. Ricoh (7752 JT) Resets

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Mobile Game Net Sales Surge in CY21 1Q
2. Sony (6758 JT) Ends On-Demand Video Purchasing via PlayStation Store
3. Nintendo (7974 JT) Switch Pro to be 4K, Have Larger OLED Screen – Bloomberg
4. Is Apple Set to Cut iPhone Production More than Originally Expected?

Technology: Industrial Electronics and Electronic Components

5. Among Electricals, Spring Wage Negotiations Take on a Covid Spin
6. Taiyo Industrial (6663 JT) Adds New Modified Polyimide to its Product Line-up

Technology: Semiconductor Production Equipment & Precision

7. Ricoh (7752 JT) Resets
8. Market Dubious on Broadcom (AVGO US) CEO’s Bullish Outlook

Chemicals / Materials

9. Asahi Kasei, Daikin Unite in Disinfection Technology
10. Showa Denko (4004 JT) Selling Shares of Shoko (8090 JT) 0

Autos

11. Toyota (7203 JT) Sells Fuel Cell Modules to Other Operators
12. US Auto Sales Fall in February

Auto Parts / Machinery

13. Toyota Industries (6201 JT): RAV4 Engine Fire Issue for Old Model / SS Batteries
14. Diamond Electric’s (6699 JT) Rights Issues

Telecom

15. Wireless Price Wars Continue

Internet / eCommerce

16. ZHD (4689 JT) / Line Merger Completed
17. Mercari (4385 JT) Ties Up with Alibaba (9988 HK)
18. BASE Inc (4477 JT) Adds More Functions to its eCommerce Platform

Enterprise Software

19. Money Forward (3994 JT) Fund Invests in a Remote Customer Service Start-Up
20. NTT Data (9613 JT) Getting Noticed
21. Zengin System Likely to Cut Bank Transfer Fees in Half, Says Report
22. Corporate Software Spend Rebounds in Q4 CY20

Pharma

23. Moves & News That Caught Our Eye

Miscellaneous

24. The Last Time Bank of Japan was a “Meme Stock”
25. Micro- Small-Cap Moves and News That Caught Our Eye

Macro

26. Big Week for Data

PSA Company Visits, Tours and Interviews

• Visited: Asahi Kasei (3407 JT), Tokyo Ohka Kogyo (4186 JT), Diamond Electric (6699 JT), Toyota Ind (6201 JT), Yaskawa (6506 JT)
• Conference Calls: Mitsubishi Chemical Holdings (4188 JT), its subsidiary Mitsubishi Tanabe Pharma
• Investor Day: Cybozu (4776 JT)

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