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

Thematic (Sector/Industry)

<p>A recent entertaining and thought-provoking read on this site, <a href="https://www.smartkarma.com/insights/why-the-car-you-currently-own-is-the-last-car-you-will-ever-buy" target="_blank" data-smartkarma-citation="insights:5272">Why the Car You Currently Own Is the Last Car You Will Ever Buy</a>, raises many controversial issues, not least of which is the premise in the headline, one that we would dispute. It should be said that we don't entirely disagree with the basic premise, which is that car ownership in many sections of society may well go down, and as a consequence go down in aggregate. However, the mechanism for this is probably not technological, but…</p>

A recent entertaining and thought-provoking read on this site, Why the Car You Currently Own Is the Last Car You Will Ever Buy, raises many controversial issues, not least of which is the premise in the headline, one that we would dispute. It should be said that we don't entirely disagree with the basic premise, which is that car ownership in many sections of society may well go down, and as a consequence go down in aggregate. However, the mechanism for this is probably not technological, but…

The Future of Car Ownership - More, or at Least Different, Not Less - An Alternative View

Chief Investment Officer, KIS Capital Partners

Josh Best

Chief Investment Officer

Boutique absolute return fund manager

KIS Capital Partners

KIS Capital Partners is a boutique absolute return fund manager based in Sydney, Australia with an Asia ex Japan trading focus. We believe that an absolute return fund should be risk and performance focused with strong attention to investment differentiation. Absolute return funds should not be asset gatherers. We invest alongside our clients in liquid and transparent markets with a focus on pragmatic and vigilant risk management.

<p><strong>The arrival of the autonomous car is set to be the greatest disruptive force in the transport industry since the advent of the private automobile.</strong> From making personal car ownership obsolete to alleviating the burden placed on hospitals by road accidents, autonomous cars will permeate all aspects of society. But what do we mean by an ‘autonomous’ car?</p><p>According to the National Highway Traffic Safety Administration (NHTSA) there are 5 levels of autonomy. This ranges from Level 0, the driver controls the vehicle at all times, to Level 4, the driver is not expected to control the vehicle at any point during the trip. Today, car manufacturers are adding increasing levels of autonomy to their vehicles. Both Tesla’s Model S and Renault-Nissan’s Infiniti Q50, for example, come with Level 2 autonomy, giving the car lane-changing, acceleration and braking abilities.</p><p><strong>The focus of this piece will, however, be on the imminent arrival of Level 4 autonomy and the disruption it will cause across a variety of industries.</strong></p>

The arrival of the autonomous car is set to be the greatest disruptive force in the transport industry since the advent of the private automobile. From making personal car ownership obsolete to alleviating the burden placed on hospitals by road accidents, autonomous cars will permeate all aspects of society. But what do we mean by an ‘autonomous’ car?According to the National Highway Traffic Safety Administration (NHTSA) there are 5 levels of autonomy. This ranges from Level 0, the driver controls the vehicle at all times, to Level 4, the driver is not expected to control the vehicle at any point during the trip. Today, car manufacturers are adding increasing levels of autonomy to their vehicles. Both Tesla’s Model S and Renault-Nissan’s Infiniti Q50, for example, come with Level 2 autonomy, giving the car lane-changing, acceleration and braking abilities.The focus of this piece will, however, be on the imminent arrival of Level 4 autonomy and the disruption it will cause across a variety of industries.

Why the Car You Currently Own Is the Last Car You Will Ever Buy

Founder, Riedel Research

David Riedel

Founder

Independent equity research on GEM Markets

Riedel Research

Riedel provides equity research and analysis to leading financial organizations. By becoming members of a region (Asia, Latin America, Emerging Europe or Global), organizations have access to an integrated set of services including:

Regular company coverage reports
Up-to-date investment decision advice (buy, hold, sell)
Monthly regional and global conference calls
Customized company reports and unlimited on-line access to the program's services.

Riedel provides research coverage of companies across the full range of market capitalization. Experienced research professionals in each market develop company reports and analysis as well as earnings models and projections. Ratings are Buy, Hold and Sell with a focus on compelling investment ideas - both long and short. Downloadable, dynamic earnings models are built to facilitate sensitivity analysis.

Please feel free to contact us for complimentary access to our written research.  We want to show you that our unique research flow can add value and help develop a long-term, high value-add relationship.

Riedel's model focuses on providing clients with unique insights and consulting in addition to unlimited access to all produced research This model allows members to receive exponential benefits for their retainer fees.

Equity Capital Markets

<p>YUM China SSS Could Disappoint in 2H16 -  Set to Pick Up In Early 2017</p><ul><li>Yum’s China Same Store Sales (SSS) are very sensitive to Chinese consumer demand. We have found that Employment Expectations from the MNI China Consumer Sentiment Survey offer a very good proxy for consumer demand.</li><li>When adjusting for the impact of food safety scares (which impacted sales from the 4Q12 to 2Q13 and then again from the 3Q14 to the 2Q15) we find that two inputs (Employment Expectations and regional differences in the CSI) explain 65% of the variation in Yum’s China SSS.</li><li>In the absence of another food safety scare Employment Expectations indicate that Yum’s China SSS can be expected to fluctuate around annual growth rates of 2% YoY through the 4Q16 before picking up to growth rates around 5% YoY in the 1Q17.</li><li>This is considerably below some estimates for the 2H16 and could disappoint the market as they are announced.</li></ul>

YUM China SSS Could Disappoint in 2H16 -  Set to Pick Up In Early 2017Yum’s China Same Store Sales (SSS) are very sensitive to Chinese consumer demand. We have found that Employment Expectations from the MNI China Consumer Sentiment Survey offer a very good proxy for consumer demand.When adjusting for the impact of food safety scares (which impacted sales from the 4Q12 to 2Q13 and then again from the 3Q14 to the 2Q15) we find that two inputs (Employment Expectations and regional differences in the CSI) explain 65% of the variation in Yum’s China SSS.In the absence of another food safety scare Employment Expectations indicate that Yum’s China SSS can be expected to fluctuate around annual growth rates of 2% YoY through the 4Q16 before picking up to growth rates around 5% YoY in the 1Q17.This is considerably below some estimates for the 2H16 and could disappoint the market as they are announced.

Outlook for YUM! Brands SSS in China Ahead of Corporate Split

Senior Investment Analyst, Black Crane Investment Mgmt Ltd

Perry Tan, CFA, CAIA, FRM

Senior Investment Analyst

Black Crane Investment Mgmt Ltd

<div>Jet.com was a $600m company last year before further fund raising.</div><div>It is now valued at $3.3bn after Wal-Mart's cash and stock acquisition announced earlier.</div><div>Jet.com charges a $49.99 per month annual fee to its customers and promises the lowest prices (they priced below Amazon and other competitors).</div><div>Their strategy backfired and suffered losses because they did not sign up with enough partner merchants and as a result, Jet.com employees had to sometimes buy from competing merchants at a loss, in…</div>

Jet.com was a $600m company last year before further fund raising.It is now valued at $3.3bn after Wal-Mart's cash and stock acquisition announced earlier.Jet.com charges a $49.99 per month annual fee to its customers and promises the lowest prices (they priced below Amazon and other competitors).Their strategy backfired and suffered losses because they did not sign up with enough partner merchants and as a result, Jet.com employees had to sometimes buy from competing merchants at a loss, in…

Equity Research Analyst, Maritime sector, Drewry Maritime Financial Research

Ankush Kathuria CFA, FRM

Equity Research Analyst, Maritime sector

Maritime Sector, Equity & Credit Research

Drewry Maritime Financial Research

With no ties to other players in the shipping, finance or banking world, we provide a uniquely impartial view of the markets and companies we cover. Our parent organization, Drewry is a leading independent provider of research services to the maritime and shipping industry, employing over 100 professionals across an international network of offices in London, Delhi, Singapore and Shanghai. Combining our market-leading resources with seasoned sector expertise DFRS offers a highly differentiated and comprehensive range of investment and financial research services to lenders and prospective investors in publicly listed maritime and shipping companies. The full service of reports, supporting resources and sector orientated webinars provides our clients with the most complete picture of the organisations under coverage as is possible. We have been charting and analysing the world’s maritime markets for more than 40 years. This unrivalled intelligence and understanding provides the foundation of our research service. Our analysts have access to one of the most up-to-date, comprehensive and reliable sources of market insight and research data available today. We look at globally listed companies within the following sectors: Port Operators, Container Shipping, Container Manufacturing & Leasing, LNG Shipping, Dry Bulk Shipping and Tanker Shipping. Combine in-depth sector expertise with financial analysis focusing on over 50 stocks globally.

<p><strong><em>Pokémon GO and the world of container shipping as we knew it</em></strong></p><blockquote><p> <em>“Dad, have you heard of <strong>Pokémon Go</strong>, can kids play it, when can I download it”, “Dad, for this birthday can you download for me the <strong>Lego Marvel's Avengers </strong>game”, “ Mom, can you please download this character for me”. </em></p></blockquote><p><em>That is my 9-year-old son asking for his reward after he has done his homework. A portion of his pocket money is now spent on the iTunes app store, that is the share lost by traditional retailers. He does love Lego and buys</em>…</p>

Pokémon GO and the world of container shipping as we knew it “Dad, have you heard of Pokémon Go, can kids play it, when can I download it”, “Dad, for this birthday can you download for me the Lego Marvel's Avengers game”, “ Mom, can you please download this character for me”. That is my 9-year-old son asking for his reward after he has done his homework. A portion of his pocket money is now spent on the iTunes app store, that is the share lost by traditional retailers. He does love Lego and buys…

DMER Shorts: Pokémon GO and the World of Container Shipping as We Knew It

United States

Yum! Brands, Inc, owns and franchises quick-service restaurants worldwide.  The Company develops, operates, franchises and licenses a worldwide system of restaurants which prepare, package and sell a menu of food items.

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Yum! Brands Inc (YUM US)

The Future of Car Ownership - More, or at Least Different, Not Less - An Alternative View

A recent entertaining and thought-provoking read on this site, Why the Car You Currently Own Is the Last Car You Will Ever Buy, raises many...

Pelham Smithers Associates

Why the Car You Currently Own Is the Last Car You Will Ever Buy

The arrival of the autonomous car is set to be the greatest disruptive force in the transport industry since the advent of the private automobile....

KIS Capital Partners

Outlook for YUM! Brands SSS in China Ahead of Corporate Split

YUM China SSS Could Disappoint in 2H16 - Set to Pick Up In Early 2017 Yum’s China Same Store Sales (SSS) are very sensitive to Chinese consumer...

David Riedel

Wal-Mart's Acquisition of Jet.com

Jet.com was a $600m company last year before further fund raising.It is now valued at $3.3bn after Wal-Mart's cash and stock acquisition announced...

Perry Tan, CFA, CAIA, FRM

DMER Shorts: Pokémon GO and the World of Container Shipping as We Knew It

Pokémon GO and the world of container shipping as we knew it “Dad, have you heard of Pokémon Go, can kids play it, when can I download it”, “Dad,...

Drewry Maritime Financial Research

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