Tokyo Market Summary: It is estimated that the Nikkei average recovers to the 30,000 yen range, and if Mitsubishi UFJ rises in yen interest rates, the positive effect will be 50 billion yen or more per year

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●The Nikkei Average ended at 30093.59 yen, 250.60 yen higher than the previous business day
● FY22 growth rate 1.2% resilience is still weak after COVID-19
●Annual GDP growth of 1.6% from January to March, positive for the first time in 3 quarters
●From January to March for global companies, interest rate hikes cast a shadow on performance, profit declines excluding finance and energy
● MUFG estimates that if yen interest rates rise, the positive effect will be 50 billion yen or more per year
● Attention to the handle: $Toyota Motor (7203.JP)$、 $Mitsubishi UFJ Financial Group (8306.JP)$、 $Dai Nippon Printing (7912.JP)$、 $Recruit Holdings (6098.JP)$、 $Honda Motor (7267.JP)$etc
— Moomoo News Japan Stocks

Market Overview
Today's Tokyo Stock Average ended at 30093.59 yen, 250.60 yen higher than the previous business day, and the Tokyo Stock Price Index (TOPIX) rose 6.43 points to 2133.61.

Top news
FY22 growth rate 1.2% resilience is still weak after COVID-19
The resilience of the Japanese economy is weak. According to the gross domestic product (GDP) announced by the Cabinet Office on the 17th, the real economic growth rate for fiscal 2022 was 1.2% compared to the previous fiscal year. Growth has slowed since fiscal year 21 (2.6%), which had high growth due to the reaction to the novel coronavirus disaster. The actual amount of GDP is still below the level of fiscal year 19, which was before COVID-19.

Export ship contract, 66.6% reduction in April, steel prices continue
The April export ship contract results (order volume) announced by the Japan Ship Exporters Association (Tokyo/Port) on the 17th were 640,000 total tons, down 66.6% from the same month last year. It has been the second month in a row that it has fallen below the same month of the previous year. Steel prices, which are directly linked to ship prices, have remained high, and the trend of shipowners watching orders is continuing.

Annual GDP growth of 1.6% January-March, positive for the first time in 3 quarters
The preliminary gross domestic product (GDP) figures for the fiscal year ending 2023/1/3 announced by the Cabinet Office on the 17th were actual seasonally adjusted values excluding the effects of price fluctuations, up 0.4% from the previous fiscal year and 1.6% in terms of an annualized rate. Positive growth was the first time in 3 quarters. Strong private consumption boosted overall due to economic normalization from the novel coronavirus disaster.

Global companies' January-March, interest rate hikes cast a shadow on performance, profit declines excluding finance and energy
The recovery of global companies is slow. Net profit for the fiscal year ending 2023/1/3 increased 7% from the same period last year, for the first time in 4 quarters since the fiscal year ending 22/1-3, but excluding earner finance and material energy, it was a 9% decrease in profit for the fourth consecutive quarter. The economy is slowing down due to the penetration of global interest rate hikes. Demand for goods is sluggish, and transportation is poor. Chemistry, which is sensitive to the economy, is also sluggish. There is a growing sense of uncertainty about the future of the global economy, as rapid interest rate hikes echoed in the United States and regional banks have gone bankrupt one after another.

Featured stocks
Tokyu - 5 day continuous extension, official commercialization of a flat-rate excursion type lodging service
$Tokyu (9005.JP)$continued to grow for 5 days. The company announced on the 17th that it has officially decided to commercialize the flat-rate excursion type lodging service “TsugitSugi (TsugitSugi)” after a two-year demonstration test period.

Toyota to issue “Woven Planet Bonds” for 3rd year in a row - SDGs acceleration
$Toyota Motor (7203.JP)$It became known that preparations are being made for the issuance of sustainability bonds (environmental/social contribution bonds). It is issued as a “woven planet bond” that allocates raised funds to businesses that accelerate SDGs (Sustainable Development Goals) initiatives. Since it was first issued in 2021, it will be the third year in a row that bonds have been issued.

MUFG estimates that if yen interest rates rise, the positive effect will be 50 billion yen or more per year - briefing session
$Mitsubishi UFJ Financial Group (8306.JP)$On the 17th, (MUFG) announced a trial calculation to add 50 billion yen or more to the amount of impact on the annual earnings of banks alone when yen interest rates rise, such as negative interest rates being lifted, in investor briefing materials for the previous fiscal year (fiscal year ending March 31, 2023).

Mitsubishi UFJ — Invest in Kyoto Fusioniering, which develops devices related to the 3-day nuclear fusion reactor
$Mitsubishi UFJ Financial Group (8306.JP)$continued to grow for 3 days. The company announced on the 17th that Mitsubishi UFJ Bank, which is under its umbrella, has invested in Kyoto Fusioniering (Chiyoda-ku, Tokyo) to carry out research and development of nuclear fusion reactor-related devices, etc. for the main purpose of fostering next-generation industries, strengthening the global competitiveness of the Japanese economy, and solving environmental/social issues.

Kobe Bussan and Nomura Securities resume coverage with “neutral”
Nomura Securities is on the 16th $Kobe Bussan (3038.JP)$Coverage was resumed with an investment decision of “neutral” (neutral). The target share price was 4,100 yen. According to the same securities, it is expected that the store network will expand steadily, and steady sales and profit growth will continue. On the other hand, while growth is stable due to a peak out of the net increase in the number of stores, I think the valuation level is reasonable.

Dai Nippon Printing to sell half of Recruit shares for 60 billion yen
$Dai Nippon Printing (7912.JP)$Will be held on the 17th $Recruit Holdings (6098.JP)$A policy to sell 18.3 million shares (1.16% of issued shares), which is half of the shares of, was announced. Apply for a TOB (public tender offer) for company stock by Recruit HD. The sale amount is expected to be approximately 60.8 billion yen. Improve capital efficiency by selling strategic holdings.

4 Honda Motorcycle Companies Jointly Obtain Approval for the Establishment of the Hydrogen Small Mobility Engine Technology Research Association
$Honda Motor (7267.JP)$continued to grow for 4 days. the company and $Suzuki Motor (7269.JP)$、 $Yamaha Motor (7272.JP)$、 $Kawasaki Heavy Industries (7012.JP)$Kawasaki Motors, which is under its umbrella, announced on the 17th and 11th that it has obtained approval from the Ministry of Economy, Trade and Industry for the establishment of the “Hydrogen Small Mobility Engine Technology Research Association (HySE: Hydrogen Small Mobility & Engine Technology)” for the purpose of basic research on hydrogen engines for small mobility.

NTT - Backlash Docomo and Yoshimoto distribute entertainment collaboration productions and expand live business = Nikkei
$Nippon Telegraph & Telephone (9432.JP)$There was a backlash. The morning edition of the Nihon Keizai Shimbun dated 17th reported that NTT DOCOMO, a subsidiary of the company, and Yoshimoto Kogyo Holdings formed a business alliance in the entertainment business.

Fujitsu - Begins a demonstration experiment to discover biomarkers for new cancer drugs using small-movement AI technology
$Fujitsu (6702.JP)$is a small movement. The company announced on the 17th that Kyoto University, Georgia Therapy, and the company's three parties will begin a demonstration experiment on the same day to discover biomarkers leading to improved success probability and shorter periods of clinical trials in cancer drug development using causal discovery technology, which is Fujitsu's AI that presents clues to new discoveries from data.

Takeda Pharmaceutical - TAK-755 is designated as a priority examination for congenital thrombotic thrombocytopenic purpura by a solid FDA
$Takeda Pharmaceutical (4502.JP)$The bottom is solid. The company announced at 10:00 on the 17th that a biological product approval application (BLA) has been accepted by the US Food and Drug Administration (FDA) for TAK-755 as enzyme replacement therapy for the ADAMTS13 deficiency disease congenital thrombotic thrombocytopenic purpura (CTTP).