The Must Read PSA Weekly Research Round-up (week to 10 Sep)

REPORTS: Renesas (6723 JT) / Mitsui Mining & Smelting (5706 JT) / Shift Inc (3697 JT) / INDUSTRY INSIGHTS: Europe’s auto sales plunge / Firm August machine tool orders / 2Q global SPE shipments +48% YoY / Subsidies support domestic machine tool orders / Market / Macro: Nikkei 225 changes / PM Suga’s succession / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Speculation builds regarding Sony’s upcoming PS5 showcase / Sony acquires Firesprite, Canon acquires Redlen / The slowing of Nintendo Switch sales / Square Enix’s Forspoken set for Spring 2022 / PlayStation Showcase: the content and the reaction / Ohara’s new guidance exceeds consensus / Toyota announces further output cuts; is set to launch hydrogen powered Corolla, Prius and its new battery plans

The Weekly Comment by Pelham Smithers

Pelham Smithers discusses what the LDP leadership election should be about, but isn’t

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

1. Renesas (6723 JT): Starting a Dialog with Investors
2. Mitsui Mining & Smelting (5706 JT) – Negotiating the Fine Line Between Tech Stock and Commodities Play
3. Shift Inc (3697 JT): Reinventing Software Testing – One Man’s Trash is Another Man’s Treasure

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Sony’s (6758 JT) PS5 Showcase: Speculation and Reveal
2. Square Enix’s Forspoken Set for Spring 2022
3. Sony Acquires Firesprite, Canon Acquires Redlen
4. Nintendo (7974 JT) Switch Sales Slowing
5. Other Consumer Electronic / Gaming-Related Moves & News That Caught our Eye

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

6. 2Q Global SPE Shipments +48% YoY
7. Murata (6981 JT) Acquires Eta Wireless
8. Other Tech-Related Moves & News That Caught our Eye

Chemicals / Materials

9. Miraial (4238 JT) Surges on Strong Semiconductor Demand
10. Ohara’s (5218 JT) New Guidance Exceeds Consensus

Autos

11. Toyota Motor (7203 JT) Announces Further Output Cuts
12. Toyota Set to Launch Hydrogen-Powered Corolla, Prius
13. Toyota’s New Battery Plans
14. European Auto Sales Plunge on Parts and Chip Supply Shortage

Auto Parts / Machinery

15. Daikin’s (6367 JT) 8th Consecutive Listing High – ¥30,000 Ahoy?
16. Firm August Machine Tool Orders
17. Ferrotec (6980 JT) Hits Listing High for Fourth Straight Day

Internet / eCommerce

18. Mercari (4385 JT) US Launches a BNPL Service
19. PayPal to Acquire Japan’s BNPL Paidy
20. ZOZO (3092 JT) Falls as Doesn’t Make it into the Nikkei 225

Telecom

21. SoftBank Group (9984 JT) Shares Up on Deutsche Telecom Deal et al

Pharma

22. Japan Orders Vaccines from Novavax
23. Shionogi (4507 JT) Gains on Broker Upgrade and News of Capital Tie-Up
24. Slow Take-up of Aduhelm hits Biogen (BIIB US) and Eisai (4523 JT)

Miscellaneous

25. Other Moves & News That Caught Our Eye

Market / Strategy / Macro

26. Japan 2Q GDP Revised Up – Sort Of
27. Nikkei 225 Constituent Changes
28. Suga Succession

PSA Company Visits, Tours and Interviews

Visited: Fujifilm Holdings (4901 JT), Tokyo Ohka Kogyo (4186 JT)
Conference Calls with: Ohara Inc. (5218 JT)
Presentations at: Nitto Denko (6988 JT)

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