The Must Read PSA Weekly Research Round-up (week to 24 May)

REPORTS: HUAWEI and 5G / Strategy: “History Repeats Itself, Historians Repeat Each Other” – Welcome to the the “Plaza Accord Revisited” Motif / MACRO: Japan’s messy machinery orders / INDUSTRY INSIGHTS: Autonomous driving – Nissan aims to be a pioneer / Japanese corporates remain wary of boosting foreign workers / MACRO: Japan’s messy machinery orders / Are Japan’s GDP figures also wrong? / COMPANY INSIGHTS: Is NEC returning to Blue Chip Status? / What if China breaks up Huawei? / Denso fails to excite with its 2025 plan / 3D mapping at NTT Data commercialised / Concerns over Mercari’s US business and Merpay Division

The Weekly Comment by Thao Nguyen

There is a fierce battle taking place in Japan’s on-line cashless payments arena. PSA’s internet / e-commerce analyst Thao Nguyen comments on the contenders and sizes up the prizes.

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

1. Huawei and 5G
2. “History Repeats Itself, Historians Repeat Each Other” – Welcome to the “Plaza Accord Revisited” Motif

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics / Gaming

1. What to Look for on Sony’s (6758 JT) Analyst Day / What We Got
2. Panasonic’s (6752 JT) Huawei Response Underscores Company’s Problems

Technology: Electronic Components and Precision

3. Huawei and 5G
4. What if China Breaks Up Huawei?
5. NEC (6701 JT) Returning to Blue Chip Status?

Chemicals / Materials

6. Uncertainty in Supply Chains for China

Autos

7. Honda (7267 JT) and GM (GM US) Cooperate on Smart Grid Research Project
8. Suzuki (7269JT) Surges on Indian Election Prediction
9. Nissan’s (7201 JT) Pioneering Role in Autonomous Driving

Auto Parts / Machinery

10. Automation Hit Hard
11. Advances in KHI’s (7013 JT) Portable Liquid Hydrogen
12. Yaskawa (6506 JT) Dull Sentiment Suggests Possible Rebound Later

Internet / eCommerce

13. Mercari (4385 JT): Concerns over Mercari US and Merpay Continue to Take Their Toll

Enterprise Software

14. NTT Data (9613 JT) to Begin Sales of the First 50cm Resolution 3D Map of Japan
15. Survey Shows Japanese Companies Wary of Increasing Foreign Workers

Pharma

16. Takeda (4502 JT): Good News on Entyvio

Macro

17. Japan’s Messy Machinery Order Situation
18. Are Japan’s GDP Figures Also Wrong?

PSA Company Visits, Tours and Interviews

• Visited: Digital Garage (4819 JT), Yahoo Japan (4689 JT); Fujifilm Holdings (4901 JT), Japan Display (6740 JT), Showa Denko (4004 JT), Hitachi Chemical (4217 JT), Kaneka (4118 JT)
• Attended earnings meetings / participated in earnings calls at: Toyoda Gosei (7282 JT)
• Attended strategy / mid-term plan announcement meetings at: Ube Industries (4208 JT), Taiyo Nippon Sanso (4091 JT), Stella Chemifa (4109 JT), Denso (6902 JT)
• Interviewed / Conference Call with: LINE (3938 JT), Koito (7276 JT)

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