Sumitomo Forestry fell for the 3rd straight day, briefly reaching ¥1,255, down ¥30 from the previous day. Daiwa Securities downgraded its investment recommendation, lowering the rating to 2nd place on a 5-point scale.
Sumitomo Forestry, a major custom-home builder, fell for the 3rd straight day and was sold down to around ¥1,255 as of 13:00. This article reports only the facts, including the direction of the share price and the market reaction.
Daiwa Securities downgraded its investment recommendation for Sumitomo Forestry effective 7th, changing the rating from “1” to “2” (2nd out of 5 levels). This indicated, according to the external institution’s view, that its assessment of the company had declined.