The Must Read PSA Weekly Research Round-up (week to 18 Mar)

REPORTS: ERP / IT software small- mid-caps – from gloom to swoon? / Ferrotec (6890 JT) / MISCELLANEOUS, MARKET & MACRO: Shenzhen lockdown adds to supply chain woes, China issues / China economic data much stronger than feared / Fed speech and weak yen / Japan Feb CPI / COMPANY INSIGHTS, NEWS, PRVIEWS & RESULTS: Elden Ring starts to go off the boil / Is Sony’s sexism case moving on to class action status? / Job losses at ARM / Fujifilm: update on Avigan and Novavax / Mitsui Chemicals to cut PTA capacity / Shin-Etsu, Kaneka hike PVC prices / Nidec shares rebound / CyberAgent’s ABEMA to broadcast World Cup games / Eisai accelerates lecanemab / Chugai’s patent infringement suit settled

The Weekly Comment by Pelham Smithers

Pelham Smithers discusses how Japan’s console game charts are almost completely dominated by Japanese companies. The extended period of underperformance of Japanese console game publishers versus their international peers may be coming to an end, he posits.

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

1. ERP / IT Software Small- Mid-Caps – From Gloom to Swoon?
2. Ferrotec Holdings (6890 JT) – Riding the Semiconductor Boom

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Elden Ring Starts to Go Off the Boil
2. Is Sony’s (6758 JT) Sexism Case Moving on to Class Action Status?
3. Other Consumer Electronic / Gaming News & Moves That Caught Our Eye

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

4. Job Losses at ARM
5. Nidec (6594 JT) Shares Rebound
6. Other Tech-Related News & Moves That Caught Our Eye 7

Chemicals / Materials

7. Mitsui Chemicals (4183 JT) to Cut PTA Capacity
8. Shin-Etsu (4063 KT), Kaneka (4118 JT) Hike PVC Prices

Autos

9. Europe Posts Lowest February Auto Sales on Record
10. Auto Sector Recovers on Weaker Yen, Falling Oil Prices
11. Auto Sector Underperforms on Further Supply Concerns

Auto Parts / Machinery

12. Denso (6902 JT) and Koito (7276 JT): Big Weak Yen Beneficiaries

Internet / eCommerce

13. CyberAgent’s (4751 JT) ABEMA to Broadcast World Cup Games
14. GA Technologies (3491 JT): Q1 Results Suggest On Track to Meet FY22 Targets
15. Other Internet / eCommerce News & Moves That Caught Our Eye

Enterprise Software

16. Are Start-Ups Winning the Battle for Software Engineering Talent?

Pharma

17. Eisai (4523 JT) Accelerates Lecanemab
18. Chugai Pharmaceutical (4519 JT) Settles Patent Infringement Suit
19. Fujifilm (4901 JT): Update on Avigan and Novavax

Miscellaneous

20. Ya-Man (6630 JT) Just Shy of FY Target at Q3
21. Other Consumer Electronic / Gaming News & Moves That Caught Our Eye

Market / Strategy / Macro

22. Shenzhen Lockdown Adds to Supply Chain Woes, China Issues
23. China Economic Data Much Stronger than Feared
24. Fed Speech and Weak yen
25. Japan Feb CPI Highest Since Covid Began

PSA Company Visits, Tours and Interviews

• Visited: Ferrotec (6890 JT), Fujifilm Holdings (4901 JT)
• Conference Calls with: Z Holdings (4689 JT), ExaWizards (4259 JT)

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