Nipro edged lower after a US securities firm cut its target price, TKP lowered its target price, and Tokyo Steel announced that it would raise prices for November contracts. ROBOT PAYMENT announced the adoption of its debt-collection robot, freee raised its target price, and BookingResort acquired the glamping information media business Mingura.
In the 9 a.m. hour, Nipro’s US securities firm, Morgan Stanley MUFG Securities, lowered its target price to ¥2,300, while expectations were expressed that SG&A cost controls would take effect from FY2025, and the stock edged lower. Morgan Stanley MUFG Securities said the reduction reflected inventory adjustments ahead of the launch of new dialysis products in the United States.
At the same time, TKP’s target price was changed from ¥5,170 to ¥5,100 following a reassessment by SBI Securities, although the view was expressed that earnings growth was expected against the backdrop of strong performance in its flexible-office and wedding businesses. High revenue levels at its serviced offices and improved occupancy rates were cited as factors.
Tokyo Steel announced that it would raise steel selling prices for all product categories by ¥3,000 per tonne for November contracts. Against a backdrop of rising material prices due to the prolonged situation in the Middle East, the company expects steel demand to expand over the medium to long term, driven by large-scale investment in data centers and semiconductor plants.