During the morning session on 2 October, events involving several stocks were reported, including TKC's business-matching agreement with OBM, target-price increases for TOCALO and PILLAR, a target-price cut for Tokio Marine, the acquisition of a subsidiary by JK Holdings, and Shibaura Machine's additional share purchases.
TKC announced that it had entered into a business-matching agreement with Hokuyo Bank for OBM, the Overseas Business Monitor. The aim is to strengthen implementation support for client companies expanding overseas, and Hokuyo Bank is expected to promote proposals for introducing OBM. The reported view is that the impact on the share price will be limited.
SMBC Nikko Securities is reported to have raised its target price for TOCALO from ¥4,000 to ¥4,200 and to be forecasting record-high profit on the memory cycle. In light of an upward revision to the company's first-quarter plan and supply-chain conditions, the company's earnings outlook was assessed as improving.
SMBC Nikko Securities is also reported to have raised its target price for PILLAR from ¥11,400 to ¥14,400, forecasting a new record-high profit on a recovery in the memory cycle and inventory adjustments. The report refers to a revision of the earnings outlook based on the upward revision for the first quarter and supply-chain conditions.
MS&AD Insurance Group Holdings is reported to have lowered its target price for Tokio Marine from ¥620 to ¥605, while expressing the view that long-term outperformance is expected to continue. The assessment takes a longer-term view, taking into account the company's high ROE and overseas business platform.
JK Holdings announced that it aims to expand the group's locations and services by making Takayama Mokuzai a subsidiary through the acquisition of all its shares. The report describes the expansion of the business through the use of Takayama Mokuzai, which is engaged in timber sales.
Shibaura Machine's ownership ratio was publicly reported to have risen from 9.02% to 10.14% following additional purchases of its shares by Oasis Management. The change reflects the acquisition dates stated in the disclosure.