Stock buybacks and rapid increases in dividends support stock prices!

　The financial results for domestic and foreign institutional investors (funds) and corporations are for March, June, September, and December. As a result, dividend sales (ETF sales pressure of 1 trillion yen at the beginning of July) and sales due to profit compression (loss cuts for stocks that have dropped in price) will occur. In particular, general shareholders' meetings are concentrated at the end of June, and stock buybacks are being refrained. As a result, sales are shrinking.

　It's the usual pattern. After all, business corporations are now the biggest buyers in the Tokyo market. Incidentally, the overpurchase amount of business corporations is 1.3 trillion yen in 2020, 1.6 trillion yen in '21, 5.2 trillion yen in '22, 4.9 trillion yen in '23, and 1.9 trillion yen from January to May this year. There is no doubt that this is a stock buyback.

　Furthermore, the amount announced for stock buybacks is 9 trillion yen, which is close to last year's worth (9.6 trillion yen), which was a record high.

　The number of companies moving to increase dividends is also rapidly increasing. In the fiscal year ending 2025/3, 900 companies, which is 40% of the total, have revealed policies to increase dividends. The total amount of dividends is expected to be 18 trillion yen, an 8% increase from the previous fiscal year, the highest for 4 consecutive years.

　Individuals hold approximately 20% of the shares of listed companies. Household dividend income is expected to rise to 3.6 trillion yen. I think we can expect dividend reinvestment on a prior fiscal year basis in July.

　As mentioned above, the general market price has fallen into a high-priced trade market against the backdrop of supply and demand factors peculiar to June. The American market is waiting for the Federal Reserve to start cutting interest rates (July or September, or is this year off).

　On the other hand, it is expected that the Bank of Japan will raise interest rates in July, revise YCC (yield curve control → long and short interest rate operation), and clarify the path of government bond purchase reduction. It can be viewed as a monetary policy looking at the depreciation of the yen, which is 1 dollar = 160 yen.

　Under these circumstances, although there is an immediate buyback of the main stock by selling it, it is difficult to handle. However, momentum for individual shopping is strong.

　It is a company that was launched in April after business integration between TASKI, a newly built investment condominium, and the asset-managed Shinnihon Tatemono. Then, in the same month, we made Aura, an asset consulting venture, a subsidiary. It's time to start with a new company.

　Operating profit will expand steadily. Earnings per share are expected to be 58.2 yen for the fiscal year ending 2024/9 and 89.3 yen for the 2025/9 fiscal year, and dividends are planned to be 15 yen for the current fiscal year (the company explained a minimum of 15 yen) and 30 yen for the next fiscal year.

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