Starting with the Nikkei Average depreciation of 171 yen, BofA Securities raised the target stock price for Japanese stocks to 41,000 yen

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American BoFA Securities raised the target for Japanese stocks to 41,000 yen at the end of the year　
BoFA Securities raised the target stock price for Japanese stocks at the end of '24 according to a report dated 19th. Against the backdrop of good corporate financial results, the Nikkei Stock Average was revised upward to 41,000 yen and the Tokyo Stock Price Index (TOPIX) to 2850 points. The previous target stock price was the Nikkei Average of 38,500 yen, TOPIX 2715 points. Chief Japanese stock strategist Akira Masatsugu of the same securities said they “determined that the necessary conditions were generally met” to break through the high set in 1989 against the backdrop of the sustainability of wage inflation, full-scale corporate capital efficiency reforms, etc., and further pointed out that “the Nikkei average of 40,000 yen is just a passing point.”

Increased shareholder returns have attracted Japanese stock investors, and this fiscal year's share buybacks are at a record high
The Nikkei Stock Average has risen about 15% since the beginning of this year, and it is one step closer to the all-time high set in 1989/12 during the bubble period. According to Bloomberg's summary, the total amount of stock buybacks for fiscal 2023 announced by Japanese companies by the 19th is 9.7 trillion yen (about 65 billion dollars) on an acquisition quota basis, which is already above the 8.9 trillion yen last fiscal year, which was a record high. Recently, $Mitsubishi(8058.JP)$announced a large-scale stock buyback of 500 billion yen, $Canon(7751.JP)$It also launched a stock buyback of 100 billion yen.

The total market value of the Tokyo Stock Exchange is at the top of Asia, Shanghai reverses for the first time in three and a half years - China decelerates, Western funds flow in
It became known on the 20th that the total market value of stocks listed on the Tokyo Stock Exchange surpassed the Shanghai Stock Exchange as of the end of January, and they regained the leading position in the Asian market for the first time in three and a half years. In addition to expectations for the Japanese economy to overcome deflation, it seems that Western investors are intensifying movements to divert funds to Japanese stocks against the backdrop of a slowdown in the Chinese economy.

Snow Peak - Buying Moment Delisted Due to MBO TOB Price is 1250 yen per share
$スノーピーク(7816.JP)$It's a buying trend. The company announced on the 20th that it would express an opinion in support of the tender offer (TOB) for the company's shares by Bain Capital BCJ-80 (Chiyoda-ku, Tokyo) carried out as part of a management buyout (MBO), and that it would recommend shareholders to apply for the tender offer. The TOB purchase price is 1250 yen per share, and the purchase period is 2/21 to 4/12. The planned number of shares to be purchased is 27.25,0863 shares, and the same lower limit is 14.539,700 shares. There is no upper limit.

Tokyo Electron - 3 days of continuous decline, SOX down 1.6%, financial alert sales to US NVIDIA
$Tokyo Electron(8035.JP)$It continued to fall for 3 days. In the US market on the 20th, it is viewed as material that the Philadelphia Semiconductor Stock Index (SOX) fell 1.6% from the previous day. rice $NVIDIA(NVDA.US)$Since financial results are about to be announced on the 21st, vigilant sales became dominant and it was 4% lower than the previous day. $Advanced Micro Devices(AMD.US)$、 $Arm Holdings(ARM.US)$etc. were also sold.

ROHM's new analog semiconductor product has the lowest current consumption in the world
$Rohm(6963.JP)$has released a new analog semiconductor product that reduces current consumption by about 40% compared to general products. Since reducing current consumption leads to power savings, sales channels for smartphones that use rechargeable batteries and electronic shelf labels that run on built-in batteries are assumed.

Toyota postpones production of Land Cruiser 250 after late April
$Toyota Motor(7203.JP)$The start of production of the large multi-purpose sports vehicle (SUV) “Land Cruiser (Rankle) 250” will be postponed for about 1 to 2 months. Until now, production was scheduled to begin in late March. There will be no change in the release date scheduled for the first half of 2024. It is said that this is because it takes time to properly proceed with vehicle certification work.

Orbic's stock buyback reached the upper limit of 16.6 billion yen for the first time in two and a half years
$OBIC(4684.JP)$It was announced on the 20th that it will carry out a stock buyback up to 16.6 billion yen. An upper limit of 750,000 shares, which is 0.84% of issued shares (excluding treasury stock), will be purchased at the Tokyo Stock Exchange off-site transaction “TostNet (TostNet) 3” on the morning of the 21st. It will be the first time in about two and a half years since 2021/8 that Orbic has bought shares.

Advise Nippon Steel, US City executives “advance international expansion due to governance reforms”
David Livingstone, chief client officer (CCO) in charge of strengthening relationships with companies, etc. at a major US financial city group, expressed the view in an interview with the Nihon Keizai Shimbun that corporate governance reforms and generational changes in management will accelerate overseas business expansion of Japanese companies. The city $Nippon Steel(5401.JP)$They are deepening relationships with Japanese companies, such as advising the Nippon Steel side on the acquisition of US Steel by Mr. Livingstone pointed out that “there is support through corporate governance (reform)” as one of the reasons why Japanese companies are vigorously advancing international expansion.

Distributor: Nihon Keizai Shimbun, Jiji Press, Traders Web, Bloomberg, QUICK Money World
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