As the Nikkei Average extended its losing streak to 4 sessions, expectations for an upward revision by Toyota Motor and Astellas Pharma’s upward earnings revision supported the market. NYK Line was also supported by expectations of a dividend increase, although a sense that the positive news had already been priced in was strong.
The Nikkei Stock Average extended its losing streak to 4 sessions, with selling continuing in AI-related and semiconductor-related stocks, while energy and transportation stocks were bought relatively strongly on expectations of an improvement in the situation in the Middle East. Approximately 73% of stocks on the Tokyo Stock Exchange Prime Market rose, amid heavy trading.
Toyota Motor was the stock in focus. First-half operating profit for April-September rose 9.2% year on year to ¥2.1911 trillion, exceeding market expectations, and the full-year forecast was raised from ¥3.4 trillion to ¥3.9 trillion. The market also welcomed the expanded scale of the share buyback and share cancellation.
Astellas Pharma hit a record high. First-half core operating profit rose 50.3% year on year to ¥424.9 billion, and the full-year forecast was raised from ¥620 billion to ¥700 billion. Sales of anticancer drugs and other products grew, while reports that the company had begun clinical trials for vision-related development in the United States were also viewed as a positive factor.
Nippon Yusen reported first-half ordinary profit of ¥213.3 billion, a substantial increase from the previous year, and left its full-year forecast unchanged while raising its dividend per share to ¥330. Improving conditions in the Middle East and trends in ocean freight markets were viewed as factors, but selling prevailed today.