While HAPPINET announced an upward revision, Roche decided to discontinue development for Chugai Pharmaceutical. The Nikkei Average fell for a second straight session, as the market remained wary of rising interest rates.
The Nikkei Average fell for a second straight session in Japan’s equity market on the 29th. Against a backdrop of concern about the impact of the US market and interest-rate trends, rising long-term yields were a focus and selling prevailed from the open, although losses narrowed late in the session.
Key news included HAPPINET’s substantial upward revision to its operating profit forecast for the first half of fiscal 2027 and Chugai Pharmaceutical’s announcement that Roche of Switzerland had discontinued a development program it was pursuing. HAPPINET’s upward revision was viewed as exceeding expectations and was reflected in its share price.
Among individual stocks, SHIMAMURA’s full-year forecast reached market expectations, while buying in HAPPINET led the stock higher on the upward revision. Chugai Pharmaceutical is expected to have the license rights returned by Roche. Other topics included the Nikkei Average’s ex-dividend adjustment and developments in other stocks.