The Must Read PSA Weekly Research Round-up (week to 09 Sep)
REPORTS: iStyle (3660 JT) / Subaru (7270 JT) / INDUSTRY INSIGHTS: Mobile game revenues continue weaker / Video game console sales +16% YoY in the week to 27 Aug / DDR5 prices falling, but still short of being competitive / July global semiconductor sales fall 6% YoY / MISCELLANEOUS, MARKET & MACRO: Olympics bribery scandal and arrests / European natural gas prices / The ¥/US$ and JGB yields / The thorny issue of inflation subsidies / COMPANY INSIGHTS, NEWS, PREVIEWS & RESULTS: Call of Duty update: game to be available on PS for “several more years” / The PS6 question arises again / Reports of Sony PS5 immediate availability in US / Panasonic increasingly set for clear run on 4680 batteries for Tesla in US / Competition for Nidec’s e-Axle from Norfolk? / Shin-Etsu Chemical: PVC remains reasonably resilient / Showa Denko and Kaneka expand tech materials / Hino & Toyota to halt some MD / HD truck production
The Weekly Comment by Pelham Smithers
With indications from China that cost-push inflation is abating, Pelham Smithers considers the Bank of Japan’s policy, and the question of future demand-pull pricing pressure.
Reports / Flash Notes Published This Week: Headlines at a Glance
1. iStyle (3660 JT): Solving Issues by Forming Alliances
2. Subaru (7270 JT) – Production Boost Key to Earnings Recovery
Company / Sector / Thematic Comments at a Glance
Technology: Consumer Electronics, Gaming
1. Mobile Game Revenues Continue to Weaken
2. Video Game Console Sales +16% YoY
3. Sony (6758 JT): Call of Duty to be on PS for “Several More Years” / PS5 Availability / The PS6?
4. Panasonic Increasingly Set for Clear Run on 4680 Batteries for Tesla in US
5. Other Consumer Elec / Gaming News & Moves That Caught Our Eye
Technology: Industrial Electronics / Components / Semis & SPE / Precision
6. DDR5 Prices Falling, but Still Short of Being Competitive
7. Global Semiconductor Sales in July Fall 6% YoY
8. Nidec (6594 JT): e-Axle Competition from Norfolk?
9. Ferrotec (6890 JT) and the Weak Yen
Chemicals / Materials
10. Showa Denko (4004 JT) and Kaneka (4118 JT) Expand Tech Materials
11. Shin-Etsu Chemical (4063 JT): PVC Remains Reasonably Resilient
12. Other Chemical / Material-Related News & Moves That Caught Our Eye
Autos
13. Hino (7205) and Toyota (7203 JT) to Pause Some MD / HD Truck Production
14. Subaru (7270 JT) and the China Question
15. Nissan (7201 JT) to Acquire a Vehicle Energy Japan Stake
16. Honda (7267 JT) to Lower Output / China Aug Sales +49%
17. Other Auto-Related News & Moves That Caught Our Eye
Auto Parts / Machinery
18. Denso (6902 JT): Possible Positives for Q3 Onward
Internet / eCommerce
19. Net Protections (7383 JT): Sold off on Paidy’s Exclusive Deal with Apple
20. Other Internet / eCommerce News & Moves That Caught Our Eye
Enterprise Software / IT Services
21. JMDC (4483 JT) to Raise Capital Despite Market Sentiment for Growth Stocks
22. Keeping a Close Eye on Cybozu (4776 JT)
23. Other ERP Software / IT Services News & Moves That Caught Our Eye
Market / Miscellaneous
24. Changes to Nikkei 225
25. Natural Gas Prices Rise in Europe
26. Olympics Bribery Scandal and Arrests
27. Other News & Moves That Caught Our Eye
Strategy / Macro
28. The Thorny Issue of Inflation Subsidies
29. The Yen/US$ and JGB Yields
30. Macro Data Released This Week
PSA Company Visits, Tours and Interviews
Presentation at: Ohara Inc. (5218 JT)
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