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

Mitsubishi Tanabe Pharma / Equity Bottom-Up

The history of overseas acquisitions by Japanese drug companies is not a pretty one, as they've either overpaid for a skillset (<a href="https://www.smartkarma.com/entities/11747" target="_blank" data-smartkarma-citation="entities:11747:1">Takeda (4502 JP)</a> with Millennium), fallen foul of patent cliff issues (<a href="https://www.smartkarma.com/entities/19535" target="_blank" data-smartkarma-citation="entities:19535:1">Shionogi (4507 JP)</a> with Sciele), bought into excessive hype over the pipeline (<a href="https://www.smartkarma.com/entities/3014" target="_blank" data-smartkarma-citation="entities:3014:1">Daiichi Sankyo (4568 JP)</a> with Plexxikon), and even, on one occasion, managing all three in one go (<a href="https://www.smartkarma.com/entities/21001" target="_blank" data-smartkarma-citation="entities:21001:1">Eisai (4523 JP)</a> with MGI Pharma). However, recently, the history is a lot better, be they high-priced acquisitions (<a href="https://www.smartkarma.com/entities/12292" target="_blank" data-smartkarma-citation="entities:12292:1">Otsuka</a>…

The history of overseas acquisitions by Japanese drug companies is not a pretty one, as they've either overpaid for a skillset (Takeda (4502 JP) with Millennium), fallen foul of patent cliff issues (Shionogi (4507 JP) with Sciele), bought into excessive hype over the pipeline (Daiichi Sankyo (4568 JP) with Plexxikon), and even, on one occasion, managing all three in one go (Eisai (4523 JP) with MGI Pharma). However, recently, the history is a lot better, be they high-priced acquisitions (Otsuka…

Mitsubishi Tanabe (4508) - Acquisition of NeuroDerm Playing to Strength, Not Weakness