The Must Read PSA Weekly Research Round-up (week to 04 Sep)

REPORTS: Japan’s Potential Old Tech Crisis: The Demise of the Printer Copier Business / Panasonic (6752 JT): Pain Now, Gain Later? / Toyota’s (7203 JT) Good Fundamentals but Slow Road to Recovery / Toyota’s (7203 JT) Risky EV Bet: Profitability Over Volumes / MARKET / STRATEGY: / A Warren Buffett market in Japan? / “Warren Buffett” style stocks in PSA’s Focus List / MACRO: / Jobs-to-applicants / FY20 Q2 profits and software spending / Industrial production surges in July / Plus additional INDUSTRY & COMPANY INSIGHTS

The Weekly Comment by Pelham Smithers

Should we heed signals of the end of the Japan frontier tech stock bubble and join Warren Buffet in buying old economy plays? And if so, which ones? Pelham Smithers gives his views.

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

1. Japan’s Potential Old Tech Crisis – The Demise of the Printer Copier Business
2. Panasonic (6752 JT) – Pain Now, Gain Later?
3. Toyota (7203 JT): Good Fundamentals but Slow Road to Recovery
4. Toyota’s (7203 JT) Risky EV Bet: Profitability Over Volumes

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Gaming

1. Apple (AAPL US) Orders 75mil 5G Phones
2. Sony (6758 JT) looking to Buy More Game Studios
3. DLE Inc (3686 JT) Still Looking to Become Japan’s TikTok

Technology: Industrial Electronics and Electronic Components

4. Hitachi’s (6501 JT) Strategic Initiative with Workhorse (WKHS US)

Technology: Semiconductor Production Equipment & Precision

5. July Camera Shipment Data Offers Some Encouragement, Mainly for Sony (6758 JT)
6. Japan’s Potential Old Tech Stock Crisis

Chemicals / Materials

7. Why Fujifilm (4901 JT) Consensus OP Exceeds Guidance

Autos

8. US Auto Sales Fall on Plunge in Fleet Sales, Fewer Selling Days
9. Honda (7267 JT) and GM (GM US) Expand Partnership
10. In an EV World, Toyota (7203 JT) Quietly Pursues Fuel Cell Path

Auto Parts / Machinery

11. Honda (7267 JT) Commences Supplier Merger Procedures

Telecom

12. How Much Bad News Would Suga as PM be for Wireless Stocks?

Internet / eCommerce

13. An Update on the Government’s Cashless Point Reward Program – Maina Point

Enterprise Software

14. TIS (3626 JT) / NEDO to Test Driverless Last Mile Delivery in 2021

Market / Strategy

15. Did We Really Have a “Warren Buffett” Market in Japan Today Sep 3?
16. “Warren Buffett” Style Stocks in PSA Focus List

Macro

17. Industrial Production Surges in July
18. Jobs-To-Applicants / 2Q Profits / Software Spending – Read Across to TIS (3626 JT)

PSA Company Visits, Tours and Interviews

• Visited: Fujifilm Holdings (4901 JT), JSR (4185 JT), Showa Denko (4004 JT)
• Interviewed / Conference Call with: Mercari (4385 JT)

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