The Nikkei average started 287 yen higher, with real consumption expenditure decreasing by 1.2% in March, marking the 13th consecutive month of decline.

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Possible intervention by Japan's currency authorities in buying yen - The balance of foreign investors' holding of US bonds has decreased.
The latest data released by the Federal Reserve Board (FRB) on the 9th suggests clues about how funds were raised for the possible intervention of yen buying by the Japanese monetary authorities.
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If Japan were to intervene in yen buying, there could be a need to sell US Treasury bonds - Citi

Real consumer spending decreased by 1.2% in March, marking the 13th consecutive month of decline
According to the household survey for March announced by the Ministry of Internal Affairs and Communications on the 10th, consumer spending for households of two or more people decreased by 1.2% compared to the same month last year, excluding the impact of price fluctuations. This marks the 13th consecutive month of decline.

The current account surplus for the fiscal year 2023 reached a record high of 25.3 trillion yen, thanks to rising resource prices.
According to the preliminary balance of payments statistics for the fiscal year 2023 released by the Ministry of Finance on the 10th, the current account surplus, which represents the trade situation of goods and services with overseas, was 25.339 trillion yen.

Sony is considering a historic sale of a US film studio if its acquisition of Paramount is successful, according to insiders.
$Sony Group (6758.JP)$If successful in acquiring the US media giant, there are plans to sell the Paramount Pictures film studio in Los Angeles, according to multiple insiders familiar with the management's thinking. $Paramount Global-A (PARAA.US)$The net profit of listed manufacturing companies has reached a record high. In the fiscal year ending in March 2024, it increased by 20% compared to the previous year and exceeded non-manufacturing industries. The automobile and machinery industries performed well due to price increases, increased sales, and a weaker yen. In the manufacturing sector, there is a movement to return the earned profits to trading partners, including small and medium-sized companies.

Mitsubishi UFJ Bank is participating in the electric vehicle (EV) bus business, which is being carried out by its group company, by investing first in the UK-based HITACHI Zero Carbon Company, which leases rechargeable batteries to EV buses, with approximately 7.4 million pounds (about 1.4 billion yen). It is expected that they will contribute more than half of the operating costs of the business and expect investment returns through decarbonization.
SCREEN - Sell indication, although expected to increase operating profit by 6% for this fiscal year, it is below market consensus.

Mitsubishi UFJ Bank will participate in Hitachi's electric bus business through its group company. They will initially invest approximately 7.4 million pounds (about 1.4 billion yen) in the UK-based HITACHI Zero Carbon Company, which leases rechargeable batteries to EV buses. It is expected that they will contribute more than half of the operating costs of the business and expect investment returns through decarbonization.
The net profit of listed manufacturing companies has reached a record high. In the fiscal year ending in March 2024, it increased by 20% compared to the previous year and exceeded non-manufacturing industries. The automobile and machinery industries performed well due to price increases, increased sales, and a weaker yen. In the manufacturing sector, there is a movement to return the earned profits to trading partners, including small and medium-sized companies. $Hitachi (6501.JP)$Mitsubishi UFJ Bank will participate in Hitachi's electric bus business through its group company. They will initially invest approximately 7.4 million pounds (about 1.4 billion yen) in the UK-based HITACHI Zero Carbon Company, which leases rechargeable batteries to EV buses. It is expected that they will contribute more than half of the operating costs of the business and expect investment returns through decarbonization.

SCREEN - Sell indication, although expected to increase operating profit by 6% for this fiscal year, it is below market consensus.
$Screen Holdings (7735.JP)$Sell offer. On the 9th, the company announced that the consolidated operating profit forecast for the 25.3 period was 100 billion yen (an increase of 6.2% compared to the previous period). The market consensus was 103.1 billion yen.

Nippon Steel - sell offer, expecting a 45% decrease in net income for this fiscal year, a 21% decrease in the previous period.
$Nippon Steel (5401.JP)$Sell offer. On the 9th, the company announced that the forecast for consolidated net profit (IFRS) for the 25.3 period is 300 billion yen (a decrease of 45.4% compared to the previous period). The business restructuring loss due to the completion of production facility structure measures had an impact. The market consensus was 506.4 billion yen.

Sega Sammy - buy offer, selling 'Sea Gaia' resort in Miyazaki to U.S. Fortress = Nikkei
$Sega Sammy Holdings (6460.JP)$Buy offer. The Nikkei electronic edition reported on the 10th at 5 am that the company has decided to sell its large-scale resort facility 'Phoenix Sea Gaia Resort' (Miyazaki City) to U.S. Fortress Investment Group.

[Earnings preview] Tokyo Electron expects strong investment from China to continue
$Tokyo Electron (8035.JP)$Tokyo Electron will announce its consolidated financial results for the 2024 fiscal year ending in March at 3:30 pm on May 10. The company's forecast shows a 17.2% decrease in consolidated revenue to 1.83 trillion yen compared to the previous period, and a 27.9% decrease in net profit to 340 billion yen.

[Earnings preview] Will NTT be able to show a 14th consecutive dividend increase in the 2024 forecast, and will there be a positive surprise from the NTT Act revision?
$Nippon Telegraph & Telephone (9432.JP)$NTT will announce its financial results for the fiscal year ending March 2024 on May 10. The company's consolidated full-year performance forecast is as follows: revenue is expected to decrease by 0.6% to 13.06 trillion yen compared to the previous year, operating profit is expected to increase by 6.6% to 1.95 trillion yen, net profit is expected to increase by 3.5% to 1.255 trillion yen, and EPS is expected to be 14.80 yen.