The Must Read PSA Weekly Research Round-up (week to DD MMM)
REPORTS: Mercari (4385 JT) / Kioxia (6600 JT) / INDUSTRY INSIGHTS: Suga goes after spectrum usage fees / Chinese cities, automakers step up FCV development efforts / EU auto market: Electrification taking hold / MARKET / MACRO: / Yoshihide Suga wins LDP Presidency / COMPANY INSIGHTS: / Sony’s PS5 Event – Square Enix’s Final Fantasy XVI / NEC in insurance blockchain move / Plus additional COMPANY INSIGHTS
The Weekly Comment by Lindsay Whipp
Lindsay Whipp reviews Japan’s SaaS and IT service companies. Using sales/employee as a tool for comparison highlights interesting points to consider when choosing the best businesses in the sector.
Reports / Flash Notes Published This Week: Headlines at a Glance
1. Mercari (4385 JT) – Moving into the Black in FY22; Double-Digit OPM in FY23
2. Tokyo Gets a Memory Stock Again – the soon-to-be-listed Kioxia Holdings (6600 JT)
Company / Sector / Thematic Comments at a Glance
Technology: Consumer Electronics, Gaming
1. Sony (6758 JT) in PS5 SoC Production Concerns and the PS5 Unveiling
2. Square Enix (9684 JT): Final Fantasy XVI and the PS5 Unveiling
Technology: Industrial Electronics and Electronic Components
3. NEC in Insurance Blockchain Move
Technology: Semiconductor Production Equipment & Precision
4. Fujifilm’s (4901 JT) Hopes for Hi-Tech Endoscopes
Chemicals / Materials
5. JSR (4185 JT) and JNC Corp Scale Back LCD Materials
Autos
6. Subaru (7270 JT) Facing Unintended Acceleration Lawsuit
7. Chinese Cities, Automakers Step up FCV Development Efforts
8. Bad News on All Fronts for Europe’s Auto Market – Except for Electrification
Telecom
9. Suga Goes After Spectrum Usage Fees
10. SoftBank Group (9984 JT) Confirms Going Private is Under Consideration
11. SoftBank Corp (9434 JT) Shares Rebound
Internet / eCommerce
12. GA Technologies’ (3491 JT) FY20 Q3 Results
13. Enigmo’s (3665 JT) FY20 Q2 Results
14. Demae-Can (2484 JT) No.1 Food Delivery Firm in Japan but More Competition is Coming
Enterprise Software
15. Listing of Cybozu (4776 JT) Investment Toyokumo Won’t Deliver Extraordinary Profit
Pharma
16. Daiichi Sankyo (4568 JT) Begins Patritumab Deruxtecan P2 Trials
17. Takeda (4502 JT) to Sell its TachoSil IP
Miscellaneous
18. Fraudsters Hit Customer Accounts at SBI Holdings (8473 JT)
19. Artificial Glass Eel Breeding Achieved!
Macro / Politics
20. Yoshihide Suga Wins LDP Presidency
PSA Company Visits, Tours and Interviews
• Visited: Shin-Etsu Chemical (4063 JT), Tokyo Ohka Kogyo (4186 JT)
• Interviewed / Conference Call with: MinebeaMitsumi (6479 JT), Daifuku (6383 JT), Toyota Ind (6201JT), JBEC (unlisted)
• Watched earnings webcast of Japan Display (6740 JT)
• Attended presentation by: Fujifilm Holdings (4901 JT)
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