Monthly Wrap

Dear readers,

This month's wrap features the sub-sector poised to expand exponentially by 2020: batteries for electric vehicles. Keen to combat air pollution, China aims for electric and hybrid cars to make up at least a fifth of Chinese auto sales by 2025. EVs should rise from 2mn existing cars in 2017 to 10mn by 2020. Toyota aims to begin mass production of electric vehicles (EVs) in China as early as 2019. In the wrap we mention several names that have exposure to EV batteries including Techno Smart (6246), Seika Sangyo (8061), Stella Chemifa (4109), Kanto Denka Kogyo (4047), W-Scope (6619), Nippon Kodoshi (3891), and Tanaka Chemical (4080).

From our suite of sponsored company research reports, we have three updates from Anicom (8715), NanaCarrier (4571), and Creek & River (4763). Anicom, the largest pet insurer in Japan with 60% market share, announced monthly parameters on July 19, highlighted in this report. In June, new insurance policies increased by 14% YoY while total policies rose by 9% YoY. NanaCarrier is a pharma venture company whose drugs are considered to be effective in cancer treatments. Creek & River, an employment agency, reported strong 68% YoY profit growth in Q1 FY02/18.

For new releases and future initiations, what’s changed since last month?

We added two new names, Monex (8698) and Taiyo Holdings (4626), in the past month. We initiated coverage on Medpeer (6095), a micro-cap with a JPY7bn market cap.



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