Morning Session Comments No. 2: JM Holdings, D. Western Therapeutics Institute, Medical Net, Daiwa House, MS&AD and Fuji Electric Industry (Traders Web)

JM Holdings announced that it would revise down its consolidated net profit forecast for the fiscal year ending July 2026 from the previous ¥7.0 billion to ¥4.9 billion. The revision reflects declining profitability at subsidiary stores and expected store impairment losses, while the company also expects its gross profit margin to decline.

D. Western Therapeutics Institute has finalized its development plan for the glaucoma treatment H-1337 ahead of its launch in Japan. Nonclinical studies are currently under way. The company plans to consult with the PMDA regarding clinical trials during fiscal 2026, conduct a small-scale trial in 2027 and begin a domestic Phase 3 trial in 2029.

Medical Net received approval to move from the Growth Market to the Standard Market and is scheduled to change its market segment on 10 September. It also received notice that its designation as a Security Under Supervision (Examination Pending) had been lifted.

Daiwa House Industry was reported to be narrowing its orders for newly built detached homes and limiting them to properties priced at ¥50 million or more. The company plans to concentrate its sales operations primarily in urban areas and withdraw from 23 prefectures, while raising unit prices in response to higher materials and labor costs.

MS&AD Insurance Group Holdings was reported by Nikkei to be considering entering the reinsurance brokerage business in Europe. Premium volumes handled by its U.S. insurance subsidiary are expected to expand, and the group aims to develop its business in the European market.

Fuji Electric Industry announced that operating profit for the first half of the fiscal year ending January 2027 was ¥86.97 million, down 36.1% year on year. Higher raw material costs were a factor. Although the result exceeded the first-half plan, the full-year forecast remains unchanged.