TDK was reported amid speculation of an acquisition involving HDD magnetic heads, while Nitto Boseki indicated a policy of increasing production against a backdrop of tight supply and demand. The Nikkei Average continued to rise, returning to the ¥70,000 range at the close for the first time in 3 months.
The Japanese stock market rose again today, with the Nikkei Average returning to the ¥70,000 range at the close for the first time in 3 months. Buying spread, particularly among semiconductor-related stocks, against a backdrop of U.S. market trends, lifting share prices across the TSE Prime Market.
As a focal news item, some reports said that TDK was the subject of acquisition speculation involving magnetic heads for HDDs, and that foreign securities firms had also raised their investment ratings. This may have increased interest in related stocks.
Following media coverage of an interview with its president, Nitto Boseki indicated that demand and supply for “glass cloth,” an advanced semiconductor substrate material, are out of balance and that it is considering additional capital investment. This has reportedly affected its share price.
Across the market, firm performance by major U.S. stock indexes and the high level of the ISM Services PMI were cited as factors. Long-term interest rates also rose, while crude oil market trends influenced investor activity.
TDK and Nitto Boseki were among the stocks in focus today, with analysts’ views and movements in related stocks attracting market attention.