The Must Read PSA Weekly Research Round-up (week to 21 Sept)

Reports Highlighted this week: Square Enix (9684 JP) / BIG PICTURE: The latest Apple (AAPL US) launch & implications for suppliers and the handset market overall / Chinese tariffs from a Japanese viewpoint / e-mobility for truck makers / COMPANY INSIGHTS: Asahi Kasei (3407 JP) drug may have a role for Alzheimer treatment / Panasonic’s (6752 JP) exciting tie-up for in-flightainment / Implications for Panasonic (6752 JP) as we discuss Tesla’s Model 3 production levels

The Weekly Comment by Pelham Smithers

According to a report out by Electronic Products magazine, supply of basic but key electronic components including capacitors, resistors and inductors, remains tight. Just under half of orders for capacitors have been received with no guarantee of delivery date because supply is “highly constrained”. This has been true for a while. What is interesting is that the industry’s response has not been to increase production to meet demand. If anything, it is the reverse. Not only is Murata (6981 JP), in particular, quoting long lead times for MLCCs, but it has also issued end-of-line (EOL) notifications for many MLCCs.

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

1. Square Enix (9684 JP) – A Consoling Line-Up

Company / Sector / Thematic Comments at a Glance

Technology: Consumer Electronics, Electronic Components, Gaming

1. Apple’s Latest Offerings
2. iPhone XS Pre-orders Weak
3. Breaking the Taboo on US$1,000+ Handsets
4. Update on Tesla (TSLA US) Model 3 Production – Implications for Panasonic (6752 JP)
5. Panasonic (6752 JP), Inmarsat (ISAT LN) In In-flight Entertainment Tie-Up
6. Nintendo (7974 JP) Launches the Switch Online Service
7. Video Game Show Time

Chemicals / Materials

8. Square Enix (9864 JP): Shadow of Tomb Raider UK Sales Mixed
9. Asahi Kasei’s (3407 JP) Fusadil for Alzheimer’s Disease
10. Material Makers Invest to Supply EVs

Autos

11. Ohara (5218 JP) Revises up a Second Time

Auto Parts / Machinery

12. E-Mobility: Hino (7205 JP), Isuzu (7202 JP)
13. Daikin (6367 JP)Continues to Post Consecutive Listing highs

Internet / eCommerce

14. IHI (7013 JP) Posts New 3-year Highs
15. Start Today (3092 JP) Founder Announces Trip to the Moon
16. GREE (3632 JP) Falls on Gacha Scandal

Pharma

17. Nexon (3659 JP) Has a Good Week
18. Sosei (4565 JP) Dementia Trial Halted
19. Foreigners Sell, Market Goes Up

Macro / Miscellaneous

20. August National CPI +1.3% YoY
21. Chinese Tariffs from a Japanese Viewpoint
22. Kansai Electric Power (9503 JP) Revives ¥50/shr Dividend

PSA Company Visits, Tours and Interviews

  • Attended earnings meeting at Tsuruha (3391 JP)
  • Phone interviews with Asahi Kasei (3407 JP), Teijin (3401 JP), Daikin (6367 JP), IHI (7013 JP)

PSA in the Press

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