During the morning session, investment ratings and price targets moved for Ichigo, Sakata Seed, TerraSky, Kioxia Holdings, ACSL and Shochiku. The developments reported included Daiwa initiating an Outperform rating, Nomura raising its price target, TerraSky being selected for a quantum-related program, Kioxia Holdings falling for 3 straight days, progress on ACSL's demonstration project and Shochiku's higher price target.
Daiwa Securities rated Ichigo Outperform and set a ¥490 price target. The factors cited included its policy of focusing on creating added value from existing properties amid rising construction costs, its high total shareholder return yield and the proportion of recurring revenue covering fixed costs.
Nomura Securities raised Sakata Seed's price target from ¥6,200 to ¥6,500. In addition to its continued overseas expansion and strong performance outside its core seeds business, contributions were expected from peripheral seeds, including seedless watermelons in North and Central America and onion seeds benefiting from acquisitions in South America. Growth in local-currency terms by region was also expected.
TerraSky announced that its group company Quemix had been selected for a quantum startup support program. During the 3-month program, Quemix is scheduled to receive hands-on business development support from dedicated personnel and promote the expansion of its quantum-related business.
Kioxia Holdings fell for the 3rd consecutive day as the KOSPI decline weighed on the stock. It moved in line with the broader weakness in semiconductor stocks, and the view was expressed that the search for a bottom would continue.