Several stocks saw a succession of catalysts during the morning session. TWOSTONE rallied sharply after its group announced a cybersecurity partnership, while Ryohin Keikaku, Sansan, NEXTAGE, FUJIDIE and KANADEN announced upgrades to investment ratings or investments.
At 10:15, TWOSTONE and its group company TWOSTONE Sync announced a business partnership with Cyber Security Cloud and said they would begin providing Web security services, including a cloud-based WAF. The companies will also support customers’ Web security operations by combining an IT talent network with security products.
At 10:17, Iwai Cosmo Securities raised its price target for Ryohin Keikaku from ¥5,000 to ¥5,600, citing the expansion of its overseas business and improved profitability. It evaluated the expansion of stores in Europe and the United States, the development of a profit-generating base in India and the Middle East, and stronger brand recognition in the Chinese market.
At 10:28, Sansan was reported to be receiving continued positive evaluation for higher unit prices and profit growth at Bill One following SB Securities’ price target increase. Revenue is expected to rise 20% year on year, operating profit to increase approximately fourfold, and the number of contracts for its core service to grow alongside improved productivity.
At 10:29, NEXTAGE received a price target reduction from Tokai Tokyo, with concern over a decline in used-vehicle exports due to the yen’s appreciation cited as the background. The trend toward improved profitability through expanded sales to dealers is expected to remain intact.
At 10:33, FUJIDIE announced that it would work to expand distribution channels for “Susteroy” as the second initiative in its partnership with DIJET INDUSTRIAL. KANADEN announced a strategic investment of US$2 million in U.S.-based RSYNQ and plans to jointly promote the development of its SIP business in the Japanese market.