The key points of the 4 November issue of Daily ZAi are the emergence of an activist shareholder at Yamato Holdings, the share-price movement following NTT's earnings release, Mitsubishi Corporation's strong earnings and share-buyback announcement, and the Nikkei's 3-day decline. These were highlighted as today's key market developments.
The Nikkei fell for the 3rd consecutive day, declining to the low ¥64,300 range in the afternoon before narrowing its loss. The outcome of the U.S. midterm elections and concerns about AI-related regulation were reported as influencing factors.
Yamato Holdings was among the stocks in focus today, with its share price rising temporarily. U.S. investment fund Farallon Capital Management disclosed a 5.02% stake in the company. Reports said there was a move calling for Chairman Nagao Yutaka (長尾裕) to leave his position.
NTT released its results for the first half of the fiscal year ending March 2027. Operating profit fell 12.2% year on year to ¥830.0 billion, while the full-year forecast was raised to ¥1.73 trillion. The improvement in NTT DOCOMO's performance is believed to have contributed, although selling pressure on the share price intensified at times.
Mitsubishi Corporation reported first-half net profit of ¥619.6 billion, up 74.2% year on year, and raised its full-year net profit forecast to ¥1.20 trillion. Higher energy and metal prices provided a tailwind, and the company simultaneously announced a share buyback of up to ¥1.0 trillion, prompting its share price to move higher.