As the Nikkei average fell for the fourth straight day, Yaskawa Electric's sharp increase in orders and upward earnings revisions by Osaka Organic and Fujimi were reported, while selling of semiconductor-related stocks stood out.
The market fell sharply for the fourth straight day, with the Nikkei average down more than ¥1,900 at one point as semiconductor-related stocks plunged. The turmoil in U.S. markets and decline in the SOX Index worsened investor sentiment, with the impact extending to the Tokyo market.
While semiconductor-related stocks fell notably, technology stocks such as factory automation and robotics-related shares held up relatively well, and the market's overall decline narrowed. Rising oil prices amid heightened tensions in the Middle East also affected export-related stocks.
Yaskawa Electric reported a substantial year-on-year increase in first-half orders and earnings contributions above market expectations. On the other hand, its first-half operating profit declined year on year, and its full-year forecast was revised downward. The result was a mix of strong sales growth and nuanced changes in the profit outlook.
Separately, strength at a company involved in electronic materials was reported within another corporate group, along with an increase in its full-year outlook and dividend policy for the current fiscal year. Overall, earnings revisions among component and materials companies followed one after another alongside developments in semiconductor demand.