As the Nikkei Average rebounded sharply, monthly sales strength at Nitori Holdings Co., Ltd. and Ryohin Keikaku was reported, while Nippon Paint Holdings Co., Ltd.’s planned acquisition of Akzo Nobel’s Southeast Asian business also drew market attention.
The Nikkei Average rebounded sharply, with buying spreading mainly across AI-related stocks against a backdrop of weak employment indicators in the US market. Semiconductor stocks led the market higher, and there was also a period during the day when the index recovered to the ¥70,000 level.
Among the stocks in focus this morning, Nitori Holdings Co., Ltd. announced that its September same-store sales rose year on year. Sales of living-room furniture and other products were strong, helped by autumn promotions and the effect of television commercials.
Ryohin Keikaku was also highlighted as a stock whose monthly results were well received, while other surprise factors were reported as well. Nippon Paint Holdings Co., Ltd. also announced plans to improve efficiency in procurement, manufacturing, logistics and sales through the acquisition of Akzo Nobel’s Southeast Asian business.