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

Universal Entertainment / Equity Bottom-Up

<a href="https://www.smartkarma.com/entities/13915" target="_blank" data-smartkarma-citation="entities:13915:1">Universal Entertainment (6425 JP)</a> may not have got as much out of <a href="https://www.smartkarma.com/entities/606" target="_blank" data-smartkarma-citation="entities:606:1">Wynn Resorts Ltd (WYNN US)</a> as it (and its investors) hoped from the recent court settlement, but it does look as if it may get another, just as significant prize, which is a casino in Hokkaido. As we wrote in <a href="https://www.smartkarma.com/insights/konami-9766-readthrough-from-its-casino-interview" target="_blank" data-smartkarma-citation="insights:9864">Konami (9766): Readthrough from Its Casino Interview</a>, Universal appeared to be completely uninterested in getting involved in casinos in Japan unless it was in Hokkaido, which at the time wasn't even in the running. There…

Universal Entertainment (6425 JP) may not have got as much out of Wynn Resorts Ltd (WYNN US) as it (and its investors) hoped from the recent court settlement, but it does look as if it may get another, just as significant prize, which is a casino in Hokkaido. As we wrote in Konami (9766): Readthrough from Its Casino Interview, Universal appeared to be completely uninterested in getting involved in casinos in Japan unless it was in Hokkaido, which at the time wasn't even in the running. There…

Universal Entertainment (6425) - Casino in Hokkaido?

Leading Independent Investment Research, Morningstar, Inc.

Morningstar

Leading Independent Investment Research

Morningstar, Inc.

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. We offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors. 

Morningstar provides data on more than 500,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 16 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries, with more than $180 billion in assets under advisement or management as of June 30, 2015. We have operations in 27 countries.

Download the Morningstar Fact Sheet : http://corporate.morningstar.com/US/documents/MarketingFactSheets/AboutMorningstarFactsheet.pdf

Thematic (Sector/Industry)

After an average 82% run-up in share price since the fourth quarter of 2016 for the six narrow-moat Macau gaming names we cover, we think the Macau gaming sector is no longer undervalued from a long-term investment perspective. After a review of prospective gross gaming revenue growth and margins over the next decade, we find the shares of <a href="https://www.smartkarma.com/entities/806" target="_blank" data-smartkarma-citation="entities:806:1">Galaxy Entertainment Group Limited (27 HK)</a>, <a href="https://www.smartkarma.com/entities/473" target="_blank" data-smartkarma-citation="entities:473:1">Wynn Macau Ltd (1128 HK)</a>, <a href="https://www.smartkarma.com/entities/606" target="_blank" data-smartkarma-citation="entities:606:1">Wynn Resorts Ltd (WYNN US)</a> (70% of EBITDA from Macau), <a href="https://www.smartkarma.com/entities/810" target="_blank" data-smartkarma-citation="entities:810:1">Melco Resorts &amp; Entertainment</a>…

After an average 82% run-up in share price since the fourth quarter of 2016 for the six narrow-moat Macau gaming names we cover, we think the Macau gaming sector is no longer undervalued from a long-term investment perspective. After a review of prospective gross gaming revenue growth and margins over the next decade, we find the shares of Galaxy Entertainment Group Limited (27 HK), Wynn Macau Ltd (1128 HK), Wynn Resorts Ltd (WYNN US) (70% of EBITDA from Macau), Melco Resorts &amp; Entertainment…

Macau Gaming Stocks Not Incorporating Cyclicality and Policy Risks; Shares Overvalued

The presence of <a href="https://www.smartkarma.com/entities/16227" target="_blank" data-smartkarma-citation="entities:16227:1">MGM Resorts International (MGM US)</a> CEO, James Murren, in Tokyo earlier this month, is a timely reminder to everyone that the re-election of Shinzo Abe’s government last year means that the Casino Bill is still in the works, even if it is stuck behind the Gambling Addiction bill. Indeed, it is probably the case that Murren is over to emphasize the point that firms like his are willing to invest heavily in Japan provided the limitations brought about by the Gambling Addiction bill…

The presence of MGM Resorts International (MGM US) CEO, James Murren, in Tokyo earlier this month, is a timely reminder to everyone that the re-election of Shinzo Abe’s government last year means that the Casino Bill is still in the works, even if it is stuck behind the Gambling Addiction bill. Indeed, it is probably the case that Murren is over to emphasize the point that firms like his are willing to invest heavily in Japan provided the limitations brought about by the Gambling Addiction bill…

Global Gaming and Casinos Industry Specialist, Casino Business Review LLC

Howard J Klein

Global Gaming and Casinos Industry Specialist

<ul>
<li>Sega Sammy stock has dipped considerably off it 52 week high.</li>
<li>Its legacy pachinko and pachslot businesses are declining, shifting long-term management goals toward expansion in integrated resorts.</li>
<li>Corporate officials have dispatched 64 top managers from Japan to its South Korea gaming property to train as an advance team for a  possible IR win in Japan.</li>
</ul>As leading IR developers frustration levels rise over the persistent delays of the Japanese Diet in passing a problem gambling bill, I asked our…


Sega Sammy stock has dipped considerably off it 52 week high.
Its legacy pachinko and pachslot businesses are declining, shifting long-term management goals toward expansion in integrated resorts.
Corporate officials have dispatched 64 top managers from Japan to its South Korea gaming property to train as an advance team for a  possible IR win in Japan.
As leading IR developers frustration levels rise over the persistent delays of the Japanese Diet in passing a problem gambling bill, I asked our…

Could Sega Sammy Holdings Be a Smart Wild Card Bet on a Japanese Casino License?

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Approaching the close of 2017, a year whose subdued volatility masked frequent rotation, we turn to Sector and Group themes that we expect to offer opportunities heading into 2018.  We discuss the likelihood of a correction and offer a number of actionable ideas within our favorite sectors; tech, financials, miners, and manufacturing.

Approaching the close of 2017, a year whose subdued volatility masked frequent rotation, we turn to Sector and Group themes that we expect to offer opportunities heading into 2018.  We discuss the likelihood of a correction and offer a number of actionable ideas within our favorite sectors; tech, financials, miners, and manufacturing.

U.S. Equity Outlook: Sector Themes & Synopsis

United States

MGM Resorts International operates gaming, hospitality and entertainment resorts.  The Company owns properties in Nevada, Mississippi and Michigan in the United States; and owns interests in properties in Nevada and Illinois in the United States, and Macau. MGM Resorts also offers hospitality management services for casino and non-casino properties around the world.

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MGM Resorts International (MGM US)

Universal Entertainment (6425) - Casino in Hokkaido?

Universal Entertainment (6425 JP) may not have got as much out of Wynn Resorts Ltd (WYNN US) as it (and its investors) hoped from the recent court...

Pelham Smithers Associates

Macau Gaming Stocks Not Incorporating Cyclicality and Policy Risks; Shares Overvalued

After an average 82% run-up in share price since the fourth quarter of 2016 for the six narrow-moat Macau gaming names we cover, we think the Macau...

Morningstar, Inc.

Japan Casino Bill Back in the Headlines

The presence of MGM Resorts International (MGM US) CEO, James Murren, in Tokyo earlier this month, is a timely reminder to everyone that the...

Pelham Smithers Associates

Could Sega Sammy Holdings Be a Smart Wild Card Bet on a Japanese Casino License?

Sega Sammy stock has dipped considerably off it 52 week high. Its legacy pachinko and pachslot businesses are declining, shifting long-term...

Howard J Klein

U.S. Equity Outlook: Sector Themes & Synopsis

Approaching the close of 2017, a year whose subdued volatility masked frequent rotation, we turn to Sector and Group themes that we expect to offer...

Vermilion Research

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