Market Movers to Watch (Morning Session): Makuake, Heartseed, MARUWA and Others (FISCO)

Makuake rebounded sharply and announced a year-end dividend of ¥14.00 for the fiscal year ending September 2026. It will also buy back up to 510,739 shares for approximately ¥600 million. The acquisition period is from 9 November through 31 March next year, and the company presented a range of ¥800 million to ¥1.00 billion for its operating profit forecast for the fiscal year ending September 2027.

MARUWA raised its full-year forecast following the first-half results announced the previous day. The company expects results to exceed its previous forecast, reflecting anticipated growth in demand for next-generation high-speed communications and differentiated products for new-energy vehicles. This represents a further upward revision following the first-quarter results.

Heartseed reached a new year-to-date high. Administration to the first patient in a clinical trial related to cardiac regenerative medicine program HS-005 was performed, and the Independent Safety Evaluation Committee approved continuation of the trial. The study covers a total of 14 patients in the ischemic heart disease and dilated cardiomyopathy groups, with safety and efficacy assessments underway.

Shin-Etsu Chemical extended its gains sharply. Second-quarter results showed operating profit of ¥212.1 billion for the July-September quarter, up 26.9% year on year. The rise is thought to have been driven by higher unit prices, and expectations are spreading that the full-year forecast could be exceeded despite being left unchanged.

Capcom fell sharply. Second-quarter results showed July-September operating profit of ¥19.7 billion, a substantial year-on-year increase, but some viewed the result as slightly disappointing after factoring in the benefits of advance sales in the amusement equipment business. The full-year forecast was left unchanged, and a sense that the positive catalysts had been exhausted was evident.