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

As was made clear in the latest ¥400 billion shelf filing, <a href="https://www.smartkarma.com/entities/222" target="_blank" data-smartkarma-citation="entities:222:1">Panasonic</a> is going ahead with the commitment to invest US$1.6 billion in <a href="https://www.smartkarma.com/entities/20279" target="_blank" data-smartkarma-citation="entities:20279:1">Tesla</a>'s Arizona plant, to make batteries for the Model 3, and is obviously paying for the investment itself. However, aside from all the Tesla 2Q 16 10-Q issues raised in  <a href="https://www.smartkarma.com/insights/tesla-q2-2016-losses-accelerating-more-questions" target="_blank" data-smartkarma-citation="insights:5069">Tesla Q2 2016 : Losses Accelerating , More Questions ?</a> a wording change to Tesla's 10-Q filing from previous versions also makes interesting reading. The latest one suggests that Panasonic's…

As was made clear in the latest ¥400 billion shelf filing, Panasonic is going ahead with the commitment to invest US$1.6 billion in Tesla's Arizona plant, to make batteries for the Model 3, and is obviously paying for the investment itself. However, aside from all the Tesla 2Q 16 10-Q issues raised in  Tesla Q2 2016 : Losses Accelerating , More Questions ? a wording change to Tesla's 10-Q filing from previous versions also makes interesting reading. The latest one suggests that Panasonic's…

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Thematic (Sector/Industry)

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.<div class="content-highlight">The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…</div>

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27 July 2016, there were 64 listed companies that announced share buybacks, up 36% YoY.The alpha generation for share buybacks in Korea can be found in KOSDAQ listed companies. Of the 64 companies that announced share buybacks, 35 of them were listed in KOSDAQ. (The average price performance of these 35 companies were 8.5% from beginning of this year as…

Alpha Generation & Share Buybacks in Korea

Korea / Special Sits, Pairs, Index Rebalancing, Clepsydra Capital

Sanghyun Park

Korea / Special Sits, Pairs, Index Rebalancing

Event-Driven

Samsung Heavy is expected to raise its capital by KRW1tril (at least).* Last month (June), Samsung Heavy’s board voted to hold an ad hoc shareholder meeting in August. This shareholder meeting will be held for the purpose of approving the rights offering, which will help the company address its liquidity problem.* In the shareholder meeting to be held in August, Samsung Heavy will also change its corporate article relating to the number of shares it can issue, which requires shareholders’…

Samsung Heavy is expected to raise its capital by KRW1tril (at least).* Last month (June), Samsung Heavy’s board voted to hold an ad hoc shareholder meeting in August. This shareholder meeting will be held for the purpose of approving the rights offering, which will help the company address its liquidity problem.* In the shareholder meeting to be held in August, Samsung Heavy will also change its corporate article relating to the number of shares it can issue, which requires shareholders’…

Key Factors of Samsung Heavy's KRW1tril Capital Increase

Samsung Electronics announced its investment in BYD."Samsung Electronics reached an agreement to directly invest in BYD, which means that we (Samsung Electronics) will purchase a stake in the Chinese company. Further details will be announced soon."Samsung Electronics also said that this agreement will help Samsung strengthen its electric vehicle component and smartphone parts businesses.* But Samsung Electronics is saying that it has no intention to participate in the management of BYD. * The…

Samsung Electronics announced its investment in BYD."Samsung Electronics reached an agreement to directly invest in BYD, which means that we (Samsung Electronics) will purchase a stake in the Chinese company. Further details will be announced soon."Samsung Electronics also said that this agreement will help Samsung strengthen its electric vehicle component and smartphone parts businesses.* But Samsung Electronics is saying that it has no intention to participate in the management of BYD. * The…

Samsung Electronics' USD450M Investment in BYD: Implications and Questions

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.

Corporate Governance:  Overview and Recent Additions<ul class="ul1"><li class="li2">Our proprietary corporate governance scoring system now covers 1,410 stocks.</li><li class="li2">Our scoring system produces a single score of 1 - 100 using 11 quantitative measures of the strength of governance and a qualitative 'analyst score' that reflects the reputation of management in the local markets.</li><li class="li2">Over a five year period companies with 'good' corporate governance (scores above 75) outperformed companies with 'bad' scores (below 50) by 26%.</li><li class="li2">Out of the new additions Samsung SDI - received a CG Score of just 40/100, among the lowest in the CG Universe.</li><li class="li2">The RRG system has successfully flagged frauds including Satyam Computer and RINO.</li></ul><ul class="ul1"><li class="li2">This report highlights recent additions to coverage and discusses the methodology, universe and performance.  An Excel of the full universe of scores is available on request.  We welcome requests from clients of names they want to see added to the universe.</li></ul>

Corporate Governance:  Overview and Recent AdditionsOur proprietary corporate governance scoring system now covers 1,410 stocks.Our scoring system produces a single score of 1 - 100 using 11 quantitative measures of the strength of governance and a qualitative 'analyst score' that reflects the reputation of management in the local markets.Over a five year period companies with 'good' corporate governance (scores above 75) outperformed companies with 'bad' scores (below 50) by 26%.Out of the new additions Samsung SDI - received a CG Score of just 40/100, among the lowest in the CG Universe.The RRG system has successfully flagged frauds including Satyam Computer and RINO.This report highlights recent additions to coverage and discusses the methodology, universe and performance.  An Excel of the full universe of scores is available on request.  We welcome requests from clients of names they want to see added to the universe.

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

South Korea

Samsung SDI Co., Ltd. specializes in developing Lithium Ion Battery (LIB) technology.  The Company also manufactures cathode ray tubes (CRTs) for televisions and computer monitors.  Samsung SDI also produces liquid crystal display (LCD) components and rechargeable batteries for cellular phones , personal digital assistants (PDAs), Energy Storage Systems and solar panels.

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Samsung SDI (006400 KS)

More Positives for Panasonic Vs Tesla

As was made clear in the latest ¥400 billion shelf filing, Panasonic is going ahead with the commitment to invest US$1.6 billion in Tesla's Arizona...

Pelham Smithers Associates

Key Factors of Samsung Heavy's KRW1tril Capital Increase

Samsung Heavy is expected to raise its capital by KRW1tril (at least).* Last month (June), Samsung Heavy’s board voted to hold an ad hoc...

Sanghyun Park

Samsung Electronics' USD450M Investment in BYD: Implications and Questions

Samsung Electronics announced its investment in BYD."Samsung Electronics reached an agreement to directly invest in BYD, which means that we...

Sanghyun Park

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

Corporate Governance: Overview and Recent Additions Our proprietary corporate governance scoring system now covers 1,410 stocks. Our scoring...

David Riedel

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

More Positives for Panasonic Vs Tesla

As was made clear in the latest ¥400 billion shelf filing, Panasonic is going ahead with the commitment to invest US$1.6 billion in Tesla's Arizona...

Pelham Smithers Associates

Alpha Generation & Share Buybacks in Korea

Korean companies are showing increasing willingness to buyback shares. Korea Stock Exchange announced that from beginning of this year to as of 27...

Douglas Kim

Key Factors of Samsung Heavy's KRW1tril Capital Increase

Samsung Heavy is expected to raise its capital by KRW1tril (at least).* Last month (June), Samsung Heavy’s board voted to hold an ad hoc...

Sanghyun Park

Samsung Electronics' USD450M Investment in BYD: Implications and Questions

Samsung Electronics announced its investment in BYD."Samsung Electronics reached an agreement to directly invest in BYD, which means that we...

Sanghyun Park

The Good, The Bad and the Ugly: RRG Corporate Governance Scoring System Spots Likely Frauds in EM

Corporate Governance: Overview and Recent Additions Our proprietary corporate governance scoring system now covers 1,410 stocks. Our scoring...

David Riedel