Solasia Pharma revised its projected product sales revenue to ¥350 million in the morning session, reportedly reflecting weak shipments of episil to China. Meanwhile, Cybertrust began offering KMS services, Mizuho Financial Group fell on developments in Europe, and target price increases were reported for BayCurrent and Kyushu Financial Group. Amiya announced the launch of Verona.
On the 19th, Solasia Pharma lowered its projected product sales revenue from the previous ¥420 million to ¥350 million and revised projected product cost of sales from ¥220 million to ¥190 million. Weak shipments of episil to China were cited as the reason, although some market participants viewed the subsequent market reaction as reflecting the exhaustion of the news.
On the 19th, Cybertrust announced that it would begin offering KMS services in November for cloud service providers, outsourcing the management of encryption keys used to encrypt and decrypt data. The service is designed to support data sovereignty by distributing encryption-key management across domestic sites, while also anticipating the transition to post-quantum cryptography.
Mizuho Financial Group fell for the first time in three sessions. The decline was attributed to falling European bank stocks, with uncertainty in European markets, including a drop in the CAC 40 and selling of government bonds, apparently spreading to Japanese bank stocks as well.
BayCurrent received an upgraded medium-term target price of ¥11,800 from Iwai Cosmo Securities, reflecting increased expectations for growth. The outlook incorporates demand related to DX, generative AI and defense, and points to expectations that the company will achieve its medium-term plan for fiscal 2030.
Daiwa Securities raised its target price for Kyushu Financial Group to ¥1,800 and expects final profit to increase, driven by growth in net interest income. The outlook for the next fiscal year is expected to improve, supported by trends in yen interest rates and higher mortgage yields. Amiya has begun offering Verona through partnerships with Canon Marketing Japan and other companies, and plans to strengthen its presence in the SASE market for small and medium-sized enterprises.