Japan TMT Analyst

Pelham Smithers

Market Intel on Asian Tech with a Japan focus

Pelham Smithers Associates

Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods. 

Research is provided by the following:
Pelham Smithers: Macro, consumer electronics, telecoms & pharma
Joel Scheiman: Electronics materials / components
Julie Boote: Autos
Will Nestuk: Capital goods, machinery & transportation equipment parts
Thao Nguyen: eCommerce, internet content, marketing & advertising

Equity Bottom-Up

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion (not necessarily by the exchanges, as it could be by their customers), sent the price of Bitcoin down below US$14,000, but also led to a sell-off in Japan in stocks involved in Bitcoin trading. The latter move is somewhat ironic given that these exchanges are likely winners if Koreans are forced to trade Bitcoin on overseas exchanges, having been a beneficiary of a similar move by Beijing a year earlier. This, though, underscores the big problem in the Japanese stock market, which is the tangling up of the Bitcoin boom, with the overall digital currency story and the development of Blockchain. The stock market appears to view the three as perfectly fungible, which is an understandable error, but one all the more ironic given the likely role of digital currencies and, especially, Blockchain, in Japan's financial industry future.

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

Doing bespoke work since 2002....., Custom Products Group

Patrick Hansen

Doing bespoke work since 2002.....

Custom Products Group

Custom Products was started 14 years ago at Lehman Brothers by current co-founder Patrick Hansen, CFA. After 3 years at Lehman, Patrick moved the team to Macquarie Securities where Simon Rigney (co-founder) joined. 3 years ago we took Custom Products independent. 

Our core strength can be summed up three words. 1- Customization - we have very little off the shelf products and most work is done on a one on one bespoke basis. 2- Speed - We pride ourselves in our ability to get requests back to the client very quickly. 3- Confidentiality - We do not redistribute. There is no grace period where we wait a week and then mass blast. Any request stops with that client.

Thematic (Sector/Industry)

We looked back over the last 30 years to see how names that are down over the previous year perform in the next. We found that since 1987 names down the previous year are on average up 4%. If we look at the top decile of names down the previous year since 1987 it is up 82% on median basis. The average performance in that decile however is 1,500% so there are definitely names that bounce back hard. After dropping 65%, <a href="https://www.smartkarma.com/entities/4701" target="_blank" data-smartkarma-citation="entities:4701:1">Kobe Bussan Co Ltd (3038 JP)</a> bounced back 189%. <a href="https://www.smartkarma.com/entities/18246" target="_blank" data-smartkarma-citation="entities:18246:1">Remixpoint Co Ltd (3825 JP)</a>…

We looked back over the last 30 years to see how names that are down over the previous year perform in the next. We found that since 1987 names down the previous year are on average up 4%. If we look at the top decile of names down the previous year since 1987 it is up 82% on median basis. The average performance in that decile however is 1,500% so there are definitely names that bounce back hard. After dropping 65%, Kobe Bussan Co Ltd (3038 JP) bounced back 189%. Remixpoint Co Ltd (3825 JP)…

Names Down the Previous Year, Tend to Go up the Next in Japan.....

Japan

REMIXPOINT CO.,LTD develops digital graphics related software application. The Company researches and develops products for security and bioinformatics industry and provides product license.

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Remixpoint (3825 JP)

Japanese Equities - Separating the Crypto Theme from Bitcoin Froth and the Blockchain Opportunity

The decision by Seoul to put a bill before its parliament banning Bitcoin trading while at the same time investigating exchanges for tax evasion...

Pelham Smithers Associates

Names Down the Previous Year, Tend to Go up the Next in Japan.....

We looked back over the last 30 years to see how names that are down over the previous year perform in the next. We found that since 1987 names...

Custom Products Group

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