Tokyo Market Summary: Lack of movement before the consecutive holidays, and the Nikkei Average ended at 37 yen depreciation

Top news
Exchange traders returning from vacation risk re-intervention in yen - fear of fighting in the second half of GW
Foreign exchange market participants will also prepare for exchange intervention by the authorities in the latter half of Golden Week (Golden Week) from the 3rd by returning holidays. Due to movements seen as intervention, the yen's low update has come to a standstill for now, but US employment statistics are also scheduled to be announced during the consecutive holidays, and there is a risk that the depreciation of the yen will accelerate again. Will the government and the Bank of Japan move to defend the dollar = 160 yen? It seems that the market with a high level of tension will continue.
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The US authorities are also watching closely the state of the depreciation of the yen “currency crisis” - Mr. O'Neill says verbal intervention intensifies
Selling dollars, intervening in an early morning surprise attack and aiming for maximum effect again

Bonds are slightly higher, US interest rates fall in response to FRB chairman's remarks - futures are turning downward
The bond exchange rate rose slightly on the 2nd. It has taken over the trend where long-term interest rates declined in response to the fact that US Federal Reserve (FRB) Chairman Powell stated at the press conference after the Federal Open Market Committee (FOMC) meeting that it is unlikely that the next action will raise interest rates. However, the buying momentum is sluggish, and there are situations where futures begin to decline in the afternoon.

Underpinning improved performance of semiconductor “Nippon Materials”
$Resonac Holdings (4004.JP)$ with $Sekisui Chemical (4204.JP)$They have each developed new materials that contribute to the high functionality of semiconductors. The semiconductor industry spans a wide range of fields, including design, materials, manufacturing equipment, and manufacturing, but materials are a field where Japanese companies have an extremely high market share. In order to maintain their superiority, each company refines technological innovation.

Notable stocks
Sumitomo Corp. - Expansion of post-market gains and announced stock buybacks up to 19 million shares and 50 billion yen
$Sumitomo (8053.JP)$The range of improvements in the backfield has expanded. The company announced at 14:15 on the 2nd that it will set a share repurchase quota with an upper limit of 19 million shares and 50 billion yen. The acquisition period is 5/7 to 7/19. When the maximum number of shares is acquired, the ratio to the total number of issued shares excluding treasury shares is 1.6%.
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Tomo Shoji targets ROE of 12% or more and total return ratio of 40% or more - new mid-term

Rakuten G - Strategic collaboration with a solid new Korean mobile carrier operator
$Rakuten Group (4755.JP)$It's solid. The company announced on the 2nd that Rakuten Mobile and Rakuten Symphony, which are under its umbrella, have signed a memorandum of strategic collaboration with STAGEX, which is a newly entered mobile carrier operator in Korea.

[Earnings Update] Mitsubishi Corporation, consolidated financial results for the fiscal year ending March 31, '24: sales down 9.3% from the previous fiscal year to 19.57 trillion yen, net profit down 18.4% from the previous fiscal year to 964 billion yen
$Mitsubishi (8058.JP)$Consolidated financial results for the fiscal year ending 24/3 were announced later on 5/2 (13:00). Consolidated net profit for the fiscal year ending 24/3 is expected to decrease 18.4% from the previous fiscal year to 964 billion yen, and the fiscal year ending 25/3 is also expected to decrease 1.5% from the previous fiscal year to 950 billion yen.