The 3 key points that drew attention in the morning session are summarised. While concerns over the profitability of AI investments resurfaced, JT's overseas tobacco business remained strong, prompting an upward revision to its full-year outlook. New developments at Panasonic Holdings were also reported.
Against a backdrop of renewed concerns over the profitability of AI investments following US earnings and the increase in the September PCE price index, selling pressure on semiconductor and AI-related stocks was expected to come into focus in the morning session in Japan. Movements in Chicago futures also repeatedly came into conflict with upward pressure, and Nikkei 225 futures pared their gains toward the end of the session.
JT's overseas tobacco business was strong. In its cumulative third-quarter results for the fiscal year ending December 2026, revenue rose 13.6% year on year to ¥2.9913 trillion and operating profit rose 24.2% to ¥947.7 billion. The company indicated that it expected to revise net profit upward to ¥662.0 billion. The annual dividend will remain unchanged at ¥272.
Panasonic Holdings subsidiary Panasonic Energy was reported to be planning to begin mass production of battery cells exceeding 200 watts, with expansion for data centres expected from the next fiscal year.