JPM | APAC Technology - Kioxia / PSMC / NYP

研报英文原文证据摘录

JPM | APAC Technology - Kioxia / PSMC / NYP

Specialist Sales

APAC Specialist Sales J P M O R G A N

22 June 2026

remain high due to major titles, and believe subscription revs have scope for ARPU rise. We estimate Crunchyroll accounts

for half of pictures profits, and expect organ growth thru overseas anime expansion. We expect Sony to maintain high G&NS

share thru next-gen devices, AI utilization, and improve CIS (CMO image sensors) profitability thru high-density sensors

development, incl smaller ones, and TSMC collaboration, and explore music rev opportunities by leveraging catalog asset.

We believe co’s ongoing portfolio revisions support sustained growth

Sector Key Newsflow

• China chip supply chain feels squeeze from AI server MLCCs to 8-bit MCUs (Digitimes)

• Taiwan: AI test demand drives broad recovery among Taiwan's semiconductor equipment suppliers in May (Digitimes)

• Japan May Chip-Making Equipment Billings Rise 17.9% Y/y: SEAJ (Bloomberg)

• Korean chip equipment makers move into Musk’s Terafab ecosystem (Maeil)

• Kioxia keeps NAND capex in check as AI inference reshapes SSD demand (Digitimes)

• Samsung Foundry to make Claros power-management chips for AI data centers (Digitimes)

• SK Hynix reportedly held U.S. talks on HBM supply and local investment plans (Digitimes)

• Taiyo Yuden to boost AI server MLCC capacity, resists price hikes (Digitimes)

• Renesas buys US chip design startup Pictorus, bolstering software business (Nikkei)

• Powerchip Semiconductor Buys Machinery Worth NT$1 billion (MT Newswires)

• Chipmaker YMTC Cedes Control of Foundry Unit Ahead of Mega IPO (Caixin Global)

• ByteDance AI spending to benefit chip start-ups (SCMP)

• ASML: US Tells ASML It’s Concerned China May Have Top Chip Tool (Bloomberg)