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

Video game stocks in Japan are moving higher on growing hopes that the government may ease laws limiting the hosting of large eSports tournaments. Although Japan held some of the first televised video-game battles back in the 1980s, currently the eSports industry in Japan is held back by the same legislation that prevents mah-jong being played for money. The legislation prevents even tournaments at video game cafés, let alone the big 10,000-audience+ tournaments that take place elsewhere around…

Video game stocks in Japan are moving higher on growing hopes that the government may ease laws limiting the hosting of large eSports tournaments. Although Japan held some of the first televised video-game battles back in the 1980s, currently the eSports industry in Japan is held back by the same legislation that prevents mah-jong being played for money. The legislation prevents even tournaments at video game cafés, let alone the big 10,000-audience+ tournaments that take place elsewhere around…

ESports - Watch Out Japan Is (Finally) Coming to the Party

Making sense of the Global Market, Euromonitor International Ltd.

Yu Mitsuhashi

Making sense of the Global Market

Euromonitor International Ltd.

We are a global market research company focused on industries, countries, economies and consumers worldwide. Our cross-country comparable research helps your organisation identify opportunities and develop growth strategies in countries and regions across the globe. With offices around the world, 1,200 analysts in 100 countries and market research on every key trend and driver, we give you powerful access to the real story behind consumer change.

Thematic (Sector/Industry)

<h2>Headlines</h2><ul><li>Current value sales grow by 8% in 2016 to reach TWD31.5 billion</li><li>More consumers, omni-channel marketing, mobile devices and retailing fuel value growth in 2016</li><li>Sony Computer Entertainment leads a highly fragmented competitive landscape in 2016</li><li>Internet retailing accounts for the highest share of value sales in 2016</li><li>A 4% retail value CAGR at constant 2016 prices is expected over the forecast period to reach TWD39.1 billion in 2021</li></ul>

HeadlinesCurrent value sales grow by 8% in 2016 to reach TWD31.5 billionMore consumers, omni-channel marketing, mobile devices and retailing fuel value growth in 2016Sony Computer Entertainment leads a highly fragmented competitive landscape in 2016Internet retailing accounts for the highest share of value sales in 2016A 4% retail value CAGR at constant 2016 prices is expected over the forecast period to reach TWD39.1 billion in 2021

Tuesday saw the release in the US (Europe on Wednesday) of an important video game for Sony: Farpoint, a Sci-Fi first person shooter. This is the biggest budget PSVR release since <a href="https://www.smartkarma.com/entities/1459" target="_blank" data-smartkarma-citation="entities:1459:1">Capcom's</a>Resident Evil 7, and as it is "PSVR Required", whereas RE7 was just "PSVR Compatible", it is the biggest budget VR-only release yet.The importance of Farpoint isn't limited to the budget either. The game comes bundled with a gun-like PSVR Aim Controller, which is designed to be the de facto shooting accessory…

Tuesday saw the release in the US (Europe on Wednesday) of an important video game for Sony: Farpoint, a Sci-Fi first person shooter. This is the biggest budget PSVR release since Capcom'sResident Evil 7, and as it is "PSVR Required", whereas RE7 was just "PSVR Compatible", it is the biggest budget VR-only release yet.The importance of Farpoint isn't limited to the budget either. The game comes bundled with a gun-like PSVR Aim Controller, which is designed to be the de facto shooting accessory…

If there's a trend to Japanese results season as far as the export / tech sectors are concerned it is "over-deliver on results, under-promise on forecasts". (There are exceptions (see <a href="https://www.smartkarma.com/entities/18107" target="_blank" data-smartkarma-citation="entities:18107:1">Advantest</a> below) but fewer than one might have supposed.)  With some sell-side forecasts having run-up a lot, that obviously leads to disappointment, but at least it is the right way round. Current sentiment isn't attuned to under-delivering on results, whatever the forecast.Not just last week, but for the whole…

If there's a trend to Japanese results season as far as the export / tech sectors are concerned it is "over-deliver on results, under-promise on forecasts". (There are exceptions (see Advantest below) but fewer than one might have supposed.)  With some sell-side forecasts having run-up a lot, that obviously leads to disappointment, but at least it is the right way round. Current sentiment isn't attuned to under-delivering on results, whatever the forecast.Not just last week, but for the whole…

Update on FY16 Results from Japan Export / Tech Sector - Delivering on Results, Not on Forecasts

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.

Earning Season in Japan starts next week and we wanted to highlight names that need very strong 4Q numbers to get to consensus estimates and names that are well position to beat consensus OP estimates. We put together two screens, the first looks for names that have not done very well in the first 3 quarters of this year.<h2>Screen Criteria</h2><ol>
<li>Mkt-cap greater than ¥75bn</li>
<li>Companies that have achieved less than 70% of FY1 consensus Operating Profit</li>
<li>4-year median % achieved in first 3 quarters is greater than…</li>
</ol>

Earning Season in Japan starts next week and we wanted to highlight names that need very strong 4Q numbers to get to consensus estimates and names that are well position to beat consensus OP estimates. We put together two screens, the first looks for names that have not done very well in the first 3 quarters of this year.Screen Criteria
Mkt-cap greater than ¥75bn
Companies that have achieved less than 70% of FY1 consensus Operating Profit
4-year median % achieved in first 3 quarters is greater than…


Japanese Names that Should Easily Beat FY1 Consensus OP and Names that Will Have a Hard Time...

Japan

CAPCOM CO., LTD. develops consumer video game software.  The Company also develops, manufactures, markets, and leases arcade game machines.  Capcom also operates amusement facilities.

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Capcom Co Ltd (9697 JP)

ESports - Watch Out Japan Is (Finally) Coming to the Party

Video game stocks in Japan are moving higher on growing hopes that the government may ease laws limiting the hosting of large eSports tournaments....

Pelham Smithers Associates

Sector Capsule: Video Games in Taiwan

Headlines Current value sales grow by 8% in 2016 to reach TWD31.5 billion More consumers, omni-channel marketing, mobile devices and retailing fuel...

Euromonitor International Ltd.

Sony - PSVR Moves Forward with Farpoint

Tuesday saw the release in the US (Europe on Wednesday) of an important video game for Sony: Farpoint, a Sci-Fi first person shooter. This is the...

Pelham Smithers Associates

Update on FY16 Results from Japan Export / Tech Sector - Delivering on Results, Not on Forecasts

If there's a trend to Japanese results season as far as the export / tech sectors are concerned it is "over-deliver on results, under-promise on...

Pelham Smithers Associates

Japanese Names that Should Easily Beat FY1 Consensus OP and Names that Will Have a Hard Time...

Earning Season in Japan starts next week and we wanted to highlight names that need very strong 4Q numbers to get to consensus estimates and names...

Custom Products Group

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