The Must Read PSA Weekly Research Round-up (week to DD MMM)

REPORTS: NRI (4307 JT) / INDUSTRY INSIGHTS: Is Japan’s casino push dead in the water? / China fortifies its position as core market among Japanese automakers / Battle over electric pickup truck market set to begin / MACRO: April machine tool orders +2.2x YoY; -3% MoM / Weak CY21 Q1 GDP / COMPANY INSIGHTS: Sony vs Discovery / Murata vs Taiyo Yuden / Murata in energy saving / energy harvesting IoT move / Apple pushes for 5G handset discounts / Plus additional COMPANY INSIGHTS, PREVIEWS, NEWS & RESULTS

The Weekly Comment by Pelham Smithers

Pelham Smithers warns that this results season has created a myth around disappointment which, as he argues here, deserves to be debunked.

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

1. Nomura Research Institute (4307 JT): Benefiting from Both Sides of the Covid Coin

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Apple (AAPL US) Pushes for 5G Handset Discounts
2. Sony (6758 JT) vs Discovery (DISCA US)
3. Alternatives to Bitcoin for Nexon (3659 JT)
4. Video Game Revival
5. Is Japan’s Casino Push Dead in the Water?

Technology: Industrial Electronics and Electronic Components / SPE / Semis

6. Murata (981 JT) vs Taiyo Yuden (6976 JT): What Now?
7. Murata’s Move to Energy Saving / Energy Harvesting IoT
8. Panasonic (6572 JT) / Toyota (7203 JT) Battery JV
9. Shareholder Returns at Toshiba (6502 JT)
10. Toppan Printing (7911 JT) Has a Good Week
11. Japanese April SPE Billings +35% YoY

Chemicals / Materials

12. Single-Digit OP Growth Forecast at Nissan Chemical (4021 JT)
13. Ube’s (4208 JT) Strategy Dominated by Environmental Issues
14. Fujimi (5384 JT) is Sounding Confident
15. ValueAct Ups its Holding in JSR


16. Toyota (7203 JT) Continues to Excel in Europe
17. Honda (7267 JT) Predicts Flat Profits
18. China Fortifies its Position as Core Market among Japanese Automakers
19. Battle over Electric Pickup Truck Market Set to Begin

Auto Parts / Machinery

20. Diamond Electric (6699 JT) Delays Restructuring
21. April Machine Tool Orders +2.2x YoY; -3% MoM
22. SMC’s (6273 JT) New President: Impressive

Enterprise Software

23. Medley (4480 JT): FY21 Q1 Results Bode Well for a Full-Year Beat
24. Enechange (4169 JT) FY21 Q1 Gets Boost from Winter Electricity Price Spike
25. Money Forward (3993 JT) and Amex (AXP US) Forge Business Partnership

Market / Strategy / Macro

26. Macro Data Out This Week

PSA Company Visits, Tours and Interviews

• Conference Calls with: Medley Inc (4480 JT), Diamond Electric (6699 JT)
• Presentations at: Ube Industries (4208 JT), Sumitomo Bakelite (4203 JT), Fujimi (5384 JT), Nippon Sanso (4091 JT), Sanyo Chemical (4471), SMC (6273 JT), Toyoda Gosei (7282 JT)
• Small Meeting with: Sumitomo Chemical (4005 JT), JBEC (unlisted)
• Fireside Chat on Fintech in Japan: Guest Speaker Toshio Taki, Co-Founder of Money Forward (3993 JT), Head of Sustainability, Public Affairs and Head of the Money Forward Fintech Institute. For access to the replay, please contact our Sales team.

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