Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Good Morning Japan |Peak Rates Still 5% Post Powell - Beta Roars Back; Inbound-China Excludes Japan

Ohayo Japan| Reality Check from Higher Yields; NUGGET: Yield Game - Japanese Investors on the Hunt

Nintendo (7974) | Stock Performance Ahead 'Switch 2' Speculation

Nintendo (7974) | No Christmas Present This Year

Equity Bottom-Up

<ul>
<li>Nintendo reported operating profit of 190b yen (-8% YoY), falling far short of Street expectations</li>
<li>The Nintendo Switch is now a six-year old console and demand is exhausted. A normalization of chip/supply chain issues benefits the newer PS5</li>
<li>Our thesis is that the hardware cycle has peaked and that the share price will head lower in tandem with the dwindling top line</li>
</ul>


Nintendo reported operating profit of 190b yen (-8% YoY), falling far short of Street expectations
The Nintendo Switch is now a six-year old console and demand is exhausted. A normalization of chip/supply chain issues benefits the newer PS5
Our thesis is that the hardware cycle has peaked and that the share price will head lower in tandem with the dwindling top line


Nintendo

Nintendo (7974) | Game Over for Switch