The trends and market backdrop for 11 major Japanese stocks scheduled to report earnings in November are reviewed. Rising AI demand and the earnings outlook for semiconductor-related companies are key focuses, with individual earnings announcements scheduled between 11/05 and 11/12.
In the Japanese stock market, earnings improvements driven by AI-related demand are increasingly viewed as a factor supporting share prices. Against a backdrop of overseas earnings trends, Japanese companies' earnings outlooks have also seen upward revisions, while demand for semiconductor-related equipment and services in particular is supporting earnings. Although the Federal Reserve's interest-rate outlook and progress in U.S. corporate earnings may help stabilize markets, investors are watching Japanese companies' forward guidance ahead of their earnings announcements.
The list of companies due to report includes 11 stocks scheduled to announce earnings in November. Reports indicate that upside potential at individual companies and expanding AI and data-center demand may provide a tailwind for earnings. Among the stocks attracting attention, views have been expressed that trends in large projects at semiconductor manufacturing equipment companies and future capital spending could affect earnings, with short-term reactions expected to depend on market conditions in Japan and the United States.
By stock, reports have highlighted KOKUSAI ELECTRIC, Recruit Holdings, and other major companies for their high market-consensus net income growth rates for the first half of the fiscal year ending March 2027, their earnings growth outlooks, and changes to their dividend policies. KOKUSAI ELECTRIC in particular expects demand for higher-layer-count DRAM/NAND flash to support expansion in equipment sales and services. Recruit is expected to outperform in the interim period on the back of AI-enabled recruitment services and sustained profitability in its U.S. business, while its dividend increase and buyback authorization have been cited as measures to strengthen shareholder returns.