The Nikkei average posted a sharp third consecutive gain. Among individual stocks, Tamaho plunged following reports of fraudulent insurance claims, while Sumitomo Seika plunged in the afternoon session after reporting lower first-half profit. Matsui Construction surged in the afternoon after raising its earnings and dividend forecasts, while buying of AI-related stocks was prominent across the market.
The Nikkei average closed sharply higher than the previous day, maintaining its third consecutive advance. After trading in negative territory in the morning, it reversed course and moved higher into the afternoon. The close was at ¥61,248. Buying of AI-related stocks supported the market by sector, while SoftBank Group temporarily narrowed its decline.
In the top news, Sumitomo Seika plunged in the afternoon session. It reported consolidated operating income of ¥5.59 billion for the first half of fiscal year 27, down 4.9% year on year, with higher fixed costs in its superabsorbent resin business cited as the factor behind the decline. The company also announced its Medium-Term Management Plan 2030, targeting revenue of ¥200 billion, operating income of ¥17.5 billion and ROE of 10% in fiscal 2030.
Tamaho plunged after reports emerged concerning fraudulent insurance claims, renewing its year-to-date low. It was reported that the company may have claimed fire insurance proceeds by reusing photographs of damaged areas of interiors and equipment. Sapporo Breweries reported an 83.2% decline in cumulative nine-month operating income on an IFRS basis, although sales in its domestic alcoholic beverages business remained firm.
Matsui Construction surged in the afternoon session after raising its forecast for the fiscal year ending March 2027. Revenue was revised from ¥96 billion to ¥100.5 billion, operating income from ¥5.4 billion to ¥7.2 billion, and net income from ¥4 billion to ¥5.4 billion. The year-end dividend was changed from ¥35 to ¥60, while the annual dividend was changed from ¥95 to ¥93.