The Tokyo market rebounded sharply for the first time in 6 sessions. The Nikkei 225 ended trading around ¥58,775, up approximately 1,340 points, while revisions to earnings outlooks at major stocks, including the formal announcement of an application for a railway fare revision, followed one after another.
The Nikkei 225 rebounded sharply for the first time in 6 sessions, with gains continuing through the latter part of the session. Buying was concentrated in the morning, and the index closed around ¥58,775 after rising by more than 1,340 points. Overall trading value reached approximately ¥8.91 trillion, while Other Products, Banks and Transportation Equipment were among the sectors that rose sharply.
Among major stocks, Keisei Electric Railway and MUFG Securities raised their target prices following the formal announcement of the railway fare revision application. Second-quarter results were generally in line with expectations, and the share prices appeared to reflect new buying catalysts.
Matsuo Electric raised its second-quarter ordinary profit forecast by 49%, and its full-year outlook was also revised upward. Taisei Lamick Group raised its full-year operating profit forecast and reviewed its dividend policy.
According to reports from major financial institutions, including companies with major investments, Oita Bank announced a policy of expanding its share buyback authorization to 700,000 shares and a maximum of ¥150 million. It also announced the acquisition of treasury shares and the cancellation of previously planned treasury shares at the same time. Vital KSK revised down its full-year operating profit forecast, and first-half profit is expected to decline significantly.