The Must Read PSA Weekly Research Round-up (week to 08 Oct)

REPORTS: Shift Inc (3697 JT) / Sansan Inc (4443 JT) / Mercari Inc (4385 JT) / INDUSTRY INSIGHTS: Have memory prices stopped falling? / Ball bearings firm, partly on Q3 auto recovery hopes / MARKET / MACRO: Kishida’s policy proposals send the market lower / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Disco’s Q2 ahead of guidance / Honda enters commercial outer space business / Sumitomo Chemical firms on biotechnology / Asahi Kasei and others expanding in healthcare / Toyota and Mazda start production at new Alabama plant / Plus additional COMPANY NEWS

The Weekly Comment by Pelham Smithers

It would be a mistake to think that the semiconductor cycle and the DX cycle are one and the same, explains Pelham Smithers.

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

1. Mercari Inc (4385 JT) – Earnings Expansion Despite Ongoing Investments
2. Sansan Inc (4443 JT) FY21 Q1 Preview
3. Shift Inc (3697 JT) FY21 Earnings Preview
4. Money Forward (3994 JT) FY21 Q3 Preview

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Favourable News on Nintendo’s (7974 JT) OLED Switch
2. Capcom’s (9697 JT) Resident Evil 7 Sales Hit 10mil

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

3. Disco’s (6146 JT) FY21 Q2 Parent Sales +42% YoY, Coming Ahead of Guidance
4. Have Memory Prices Stopped Falling?

Chemicals / Materials

5. Sumitomo Chemical (4005 JT) Shares Firm on Biotechnology
6. Asahi Kasei (3407 JT) and Others Expanding in Healthcare

Autos

7. Honda (7267 JT) Enters Commercial Outer Space Business
8. Toyota (7203 JT) and Mazda (7261 JT) Start Production at New Alabama Plant
9. Mazda (7261 JT) Expands its Crossover Line-up with Five New Models
10. Auto / Auto-Related Moves & News That Caught Our Eye

Auto Parts / Machinery

11. Ball Bearings Firm, Partly on Q3 Auto Recovery Hopes
12. Yaskawa (6506 JT) FY21 Q2 Preview: Are Analysts Too Bullish? / The Results and Outlook

Internet / eCommerce

13. Mercari (4385 JT): MAU Exceeds 20mil / Mercari Shops’ Full Rollout

Enterprise Software

14. Shift Inc (3697 JT): FY21 Q4 Preview
15. Enechange (4169 JT) Tumbles on Client Restructuring
16. Money Forward (3994 JT) FY21 Q3 Preview: On Track to Meet FY Guidance
17. Money Forward Invests in Vietnamese SaaS Start-up, Eyeing SE Asia Expansion
18. Sansan (4443 JT) FY21 Q1 Sales Match Market Estimates / Plans 3:1 Stock Split

Pharma

19. Takeda (4502 JT) Loses TAK-994
20. Shionogi (4507 JT) Talks Up Covid Drug

Miscellaneous

21. Other Moves & News That Caught Our Eye

Market / Strategy / Macro

22. Kishida’s Policy Proposals Sends Market Lower

PSA in the Press

Nihon Keizai Newspaper 1 October 2021: ゲームソフト、脱・専用機依存 PC・スマホで性能差縮む 東京ゲームショウ開幕 (The Tokyo Game Show opens, which reduces the performance difference between game software and PCs / smartphones that depend on dedicated machines)[https://www.nikkei.com/article/DGXZQOUC2338J0T20C21A9000000/]

PSA Company Visits, Tours and Interviews

• Presentations at: Cybozu (4776 JT), Asahi Kasei (3407 JT), Konica Minolta (4902 JT), Yaskawa (6506 JT)

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