Tokyo Market Summary: If the Nikkei average is 426 yen high and prices rise, “we have to think” about reducing the degree of mitigation = Bank of Japan Governor

Top news
US Berkshire plans to issue the first yen-denominated corporate bond after the Bank of Japan's policy change
US investment and insurance company led by famous investor Warren Buffett $Berkshire Hathaway-B (BRK.B.US)$is planning to issue yen bonds in the global market. According to people familiar with the situation, Berkshire has appointed a chief secretary to issue SEC registered yen-denominated fixed interest benchmark bonds. It is said that they are considering issuing bonds in the near future depending on the market environment.

If prices are rising on a trend, “we have to think” about reducing the degree of mitigation = Bank of Japan Governor
Bank Governor Ueda Kazuo stated at the House of Councillors Finance Committee on the 9th that if the underlying inflation rate rises little by little in the future as predicted by the Bank of Japan, “we must consider reducing the degree of mitigation.” However, whether this will actually happen “depends on data” in the future, and it was decided that changes in the economy and price conditions would be carefully examined at every monetary policy meeting. At the moment, he said he “has no prediction” about the future and at what timing and how short-term interest rates will move.
RELATED ARTICLES
Bank of Japan Governor Ueda believes that the accommodative financial environment will continue for the time being

If Japan intervenes to buy yen, there is also a possibility that it will be necessary to sell US bonds - City
Citigroup pointed out that when the Japanese government and the Bank of Japan intervene to buy yen in the foreign exchange market, it would be necessary to sell US bonds held rather than simply utilizing deposit funds into reverse report (RRP) facilities prepared by the US financial authorities for foreign central banks.

The yen exchange rate is also low against the Chinese yuan for the first time in 31 years and the difference in “intervention power” between Japan and China
Yen is not only sold against dollars and European and Oceanian currencies in the foreign exchange market. It has been sluggish against the Chinese yuan at a low level for the first time in about 31 years. While Japan has taken steps to normalize monetary policy, China is still continuing an accommodative monetary policy. Nevertheless, it is impossible to overlook the fact that yen sales and Chinese yuan purchases are dominant, and in addition to absolute interest rate differences, there is a large difference in “ability to intervene” into the market.
RELATED ARTICLES
The low since 14/12 against the Australian dollar is around 100 yen 40 yen at one time
Minister of Finance “looks closely with a high sense of tension” The yen exchange rate is in the latter half of the 151 yen range

Minister of Economy, Trade and Industry Saito meet to advance cooperation in the semiconductor and energy fields - Japan-US ratio
Minister of Economy, Trade and Industry Saito Ken said at the post-cabinet meeting on the 9th that he is planning meetings with the US Secretary of Commerce and the Philippine Minister of Trade and Industry in order to accompany Prime Minister Fumio Kishida on his visit to the US until the 13th and advance cooperation in the semiconductor, economic security, energy fields, etc.
RELATED ARTICLES
Prime Minister Kishida to confirm strong Japan-US alliance - summit meeting did not touch on steel issues

Featured stocks
Mitsui & Co., Ltd. is at a new high every day, and it is reported that US Berkshire is preparing to issue corporate bonds denominated in yen, and they are buying trading company stocks ◇
$Mitsui (8031.JP)$The high price since listing has been updated every day. $Sumitomo (8053.JP)$In addition to hitting a new high, $Mitsubishi (8058.JP)$Ya $Marubeni (8002.JP)$、 $Sojitz (2768.JP)$Major trading company stocks have become expensive across the board, such as being bought. It has been reported that Berkshire Hathaway, an investment company led by famous American investor Warren Buffett, is planning to issue corporate bonds denominated in yen.
RELATED ARTICLES
Sumitomo Corporation - Continued Growth Participates in Large-Scale SAF and BECCS Projects in Louisiana, USA
Marubeni Launches 6-Day Continuous Growth Generation AI Service

Non-ferrous stocks such as Mitsubishi Motors, Sumitomo Mining, and DOWA have updated their year-to-date highs across the board, and copper is also high for the first time in 1 year and 3 months in line with gold market conditions ◇
$Mitsubishi Materials (5711.JP)$There was a sudden move, and the upper price increased to 3060 yen with an increase of close to 6% at one point, dispelled the year-to-date high price of 3014 yen set on March 22, and entered the new price road. Also, $Sumitomo Metal Mining (5713.JP)$Ya $DOWA Holdings (5714.JP)$etc. are also being bought at a new high price at a very high price. Gold market conditions have soared here, and in the form of following this, silver and copper market conditions have also strengthened their legs, and investment funds are flowing into related stocks where a rise in metal market conditions (metal prices), mainly non-ferrous metals, etc. can benefit in terms of earnings even in the stock market.

Yaskawa Electric rebounded sharply for the first time in 3 days, and expectations for a recovery in the current fiscal year's results were also a factor in reevaluation
$YASKAWA Electric (6506.JP)$There was a sharp rebound for the first time in 3 days. In addition to the current depreciation of the yen, expectations for a recovery in earnings this fiscal year also seem to be a buying factor. On the 8th, Iwai Cosmo Securities continued the “B+” investment decision for the company's stock and raised the target stock price from 6,400 yen to 6,500 yen.