In the morning session, Shinagawa Refractories announced a total investment of approximately ¥850 million in capital equipment, while Axelmark’s expansion of its total number of authorized shares and moves by other companies were also reported. New policies by several other companies have also been reported.
Shinagawa Refractories announced that it will invest approximately ¥850 million in total to expand production capacity at its domestic production sites, primarily to meet growing demand in semiconductor-related fields. The company will strengthen its firing and precision-processing capacity for fine ceramic components used in semiconductor manufacturing equipment, while also expanding production capacity for high-performance insulating materials at group company Isolite Kogyo. These measures are intended to capture demand in growing markets and strengthen the stable supply structure.
On 22 December, Axelmark amended its Articles of Incorporation to raise the total number of authorized shares from the current 77 million to 200 million, with the proposal scheduled to be submitted to the general meeting of shareholders on 23 December. The need for additional financing has been highlighted amid prolonged losses and worsening cash flow, while no clear path has emerged to profitability in its existing trading-card and advertising businesses. The amendment itself will not immediately result in the issuance of new shares, although existing shareholders’ ownership percentages could decline if the increased authorized-share limit is used.
Kyoei Security Service revised its full-year consolidated net income forecast downward, from its previous profit forecast of ¥700 million to a loss of ¥600 million. The company expects to record an expense for the provision for directors’ retirement benefits as an extraordinary loss, following the decision to pay a founder’s merit compensation to a retiring director and the introduction of a directors’ retirement benefit plan.
SHIFT added investment business to its business purposes through a partial amendment to its Articles of Incorporation and reached a new high. Adding investment business will enable the company to respond flexibly to new businesses it may handle in the future.
Tokyo Century raised its target price to ¥3,000 in Nomura Securities’ assessment, with the likelihood of achieving the medium-term management plan becoming a point of focus. The company is expected to complete the recovery of approximately ¥300 billion in capital from the sale of its aircraft-leasing subsidiary from autumn onward, after which new growth investments will become the focus.
Nexera Pharma filed an application with Korea’s MFDS for marketing approval of vamorolone, a treatment for Duchenne muscular dystrophy. The drug has been designated an orphan drug and granted GIFT designation in Korea, and the company aims to obtain approval in 2027 and launch the product in 2028.