Tracking developments across tech supply chains, Tech Supply Chain Tracker

Tech Supply Chain Tracker

Tracking developments across tech supply chains

Equity Bottom-Up

<ul><li>Acer's subsidiaries are driving growth, providing resilience and optimism in the face of shifts in the PC market.</li><li>China's smartphone industry is experiencing a boom in the second quarter of 2024, indicating strong potential for growth.</li><li>A potential US ban on Chinese vehicle technology could deepen the technology rift with lasting effects, impacting various industries.</li></ul>

Acer's subsidiaries are driving growth, providing resilience and optimism in the face of shifts in the PC market.China's smartphone industry is experiencing a boom in the second quarter of 2024, indicating strong potential for growth.A potential US ban on Chinese vehicle technology could deepen the technology rift with lasting effects, impacting various industries.

Tech Supply Chain Tracker (09-Aug-2024): Acer subs drive growth, boost resilience amid PC changes.

Japan Specialist

Mark Chadwick

<ul>
<li>Nintendo missed Q1 with Operating income coming in at Y54.5b (-71% YoY) vs our estimate Y116b and the street at Y94b</li>
<li>Switch 2 hardware and software units sold are now suffering from buyer fatigue as consumers await the next-gen console</li>
<li>The stock will likely fall quite sharply over the next week. Looking for good buying opportunity in anticipation of the next console cycle</li>
</ul>


Nintendo missed Q1 with Operating income coming in at Y54.5b (-71% YoY) vs our estimate Y116b and the street at Y94b
Switch 2 hardware and software units sold are now suffering from buyer fatigue as consumers await the next-gen console
The stock will likely fall quite sharply over the next week. Looking for good buying opportunity in anticipation of the next console cycle


<ul>
<li>Operating profit: FY3/24 OP was 529 billion yen (+4.9% YoY) vs analyst estimates of 537 billion (1.5% miss)</li>
<li>FY3/25 Operating guidance is 400 billion yen, significantly below analyst expectations of 480 billions (-16% miss).</li>
<li>The initial market reaction may be negative, we would use that as an opportunity to buy into the stock for the cyclical upturn in FY3/26.</li>
</ul>


Operating profit: FY3/24 OP was 529 billion yen (+4.9% YoY) vs analyst estimates of 537 billion (1.5% miss)
FY3/25 Operating guidance is 400 billion yen, significantly below analyst expectations of 480 billions (-16% miss).
The initial market reaction may be negative, we would use that as an opportunity to buy into the stock for the cyclical upturn in FY3/26.


Nintendo (7974) | Negative Surprise....Not Really

Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>A group of shareholders aims to raise around US$330m via selling around 3.6% of <a href="https://www.smartkarma.com/entities/yamaha-motor-co-ltd" target="_blank" data-smartkarma-citation="entities:7411:1" rel="noopener">Yamaha Motor (7272 JP).</a>
</li>
<li>This will be another cross-shareholding unwind and hence, won’t be a huge surprise, although the stock hasn’t been doing particularly well lately.</li>
<li>In this note, we will talk about the deal dynamics and run the deal through our ECM framework.</li>
</ul>


A group of shareholders aims to raise around US$330m via selling around 3.6% of Yamaha Motor (7272 JP).

This will be another cross-shareholding unwind and hence, won’t be a huge surprise, although the stock hasn’t been doing particularly well lately.
In this note, we will talk about the deal dynamics and run the deal through our ECM framework.


Yamaha Motors Placement - A Relatively Small Cross-Shareholding Unwind

External reports (aggregated public sources), Value Investors Club

Value Investors Club

External reports (aggregated public sources)

<ul><li>AAOI recommends investing in Nintendo ahead of the launch of the Switch 2 console cycle in mid to late 2024</li><li>Analyst sees potential for multiple expansion, margin improvement, and continued monetization of intellectual property through theme parks and movies</li><li>Bullish on Nintendo's stock in absolute terms and relative to other companies in the video game and media sectors, predicting significant gains based on past launch cycles.</li></ul><p><em>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

AAOI recommends investing in Nintendo ahead of the launch of the Switch 2 console cycle in mid to late 2024Analyst sees potential for multiple expansion, margin improvement, and continued monetization of intellectual property through theme parks and moviesBullish on Nintendo's stock in absolute terms and relative to other companies in the video game and media sectors, predicting significant gains based on past launch cycles.This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Nintendo Co Ltd (NTDOY) - Sunday, Jan 7, 2024

Japan

Nintendo Co., Ltd. globally develops, manufactures and sells home-use video game hardware and software in home entertainment business.  The company also produces home-game products including cards.

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Nintendo (7974 JP)

Tech Supply Chain Tracker (09-Aug-2024): Acer subs drive growth, boost resilience amid PC changes.

Acer's subsidiaries grow amid PC market changes, China's smartphone market booms, potential US ban on Chinese vehicle tech, Nintendo and Sony face...

Tech Supply Chain Tracker

Nintendo (7974) | Game Over for Switch

Nintendo's Q1 operating income missed estimates, with Switch sales slowing due to buyer fatigue. Stock expected to drop, but potential buying...

Mark Chadwick

Nintendo (7974) | Negative Surprise....Not Really

Nintendo to Report Q1 (02 Aug); Shares Up 4% Since FY3/24 Results First Quarter - Operating income estimate Y116b vs street Y94b - Net sales...

Mark Chadwick

Yamaha Motors Placement - A Relatively Small Cross-Shareholding Unwind

A group of shareholders aims to raise around US$330m via selling around 3.6% of Yamaha Motor (7272 JP). In this note, we talk about the deal dynamics.

Sumeet Singh

Nintendo Co Ltd (NTDOY) - Sunday, Jan 7, 2024

Bullish on Nintendo's stock in absolute terms and relative to other companies in the video game and media sectors, predicting significant gains...

Value Investors Club

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52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Tech Supply Chain Tracker (09-Aug-2024): Acer subs drive growth, boost resilience amid PC changes.

Acer's subsidiaries grow amid PC market changes, China's smartphone market booms, potential US ban on Chinese vehicle tech, Nintendo and Sony face...

Tech Supply Chain Tracker

Nintendo (7974) | Game Over for Switch

​Nintendo's Q1 operating income missed estimates, with Switch sales slowing due to buyer fatigue. Stock expected to drop, but potential buying...

Mark Chadwick

Nintendo (7974) | Negative Surprise....Not Really

Nintendo to Report Q1 (02 Aug); Shares Up 4% Since FY3/24 Results First Quarter - Operating income estimate Y116b vs street Y94b - Net sales...

Mark Chadwick

Yamaha Motors Placement - A Relatively Small Cross-Shareholding Unwind

A group of shareholders aims to raise around US$330m via selling around 3.6% of Yamaha Motor (7272 JP). In this note, we talk about the deal dynamics.

Sumeet Singh

Nintendo Co Ltd (NTDOY) - Sunday, Jan 7, 2024

Bullish on Nintendo's stock in absolute terms and relative to other companies in the video game and media sectors, predicting significant gains...

Value Investors Club

Nintendo's Q1 operating income missed estimates, with Switch sales slowing due to buyer fatigue. Stock expected to drop, but potential buying...