During the morning session, developments were reported across several stocks, including SBI Securities' reduction of Nikon's target price, GENDA's business partnership with Sanrio, GIFT HOLDINGS' upward revision to its full-year forecast, Terilogy Holdings' sales agency agreement, Rentracks' sharp July sales increase, and a target price increase for Sumitomo Metal Mining. The main developments are summarized chronologically.
In the 10 a.m. hour, SBI Securities was reported to have lowered its target price for Nikon shares from ¥1,600 to ¥1,500, citing the company’s failure to benefit from the supercycle. Based on its results and interviews conducted after the results announcement, revisions to the earnings outlook and weak sales in China were cited as factors behind the company’s poor performance.
At the same time, GENDA announced a business partnership with Sanrio. By rolling out Sanrio IP on its platform, the company expects to improve customer attraction at its stores, generate synergies, and create opportunities for collaboration.
GIFT HOLDINGS raised its full-year consolidated operating profit forecast from the previous ¥4.8 billion to ¥5.0 billion. The company said it would scrutinize its year-end earnings outlook in light of lower food costs, an improvement in the gross profit margin, and trends in same-store sales.
Terilogy Holdings signed a sales agency agreement with US-based Delinea and announced the launch of sales for next-generation PAM solutions. The solutions are expected to be used in cloud environments, including those involving non-human identities.
Rentracks announced that its preliminary consolidated sales for July totaled ¥3.191 billion, 8.9 times the figure for the same month a year earlier, while transaction volume was ¥5.706 billion. A substantial increase in revenue was reported.
Daiwa Securities raised its target price for Sumitomo Metal Mining from ¥10,700 to ¥12,300 and maintained its Outperform investment rating, citing firm metals market conditions and expanded shareholder returns.