Tokyo Market Summary: Nikkei Average fell for the fourth consecutive day, cautious mood ahead of the Japan-US financial event.

Hello, MOOMOO users!Good job on the closing bell. Here is today's stock market overview. Thank you.
The Nikkei average fell 282 yen to 39,081 yen compared to the previous trading day.
Kawanishi Kogyo and Yorozu sharply increased, with funds flowing into their own parts stocks following the reports of Nissan Motor Co. and Honda's management integration.
Ranked 12th in "IPO in 2024", today's listing of Kioxia <Hot Stocks>.
Japan Steel - Inaction, US Steel's acquisition plan, US Congressional trade union supporters reportedly requesting Biden to block.
Shin-Etsu Chemical is solid, implementing a self-stock Takeover Bid with a maximum of 1.01%.
Ebara Seisakusho - Sharp rise, expecting record high profit next term, with domestic securities raising target stock price.
Hot Stocks: $Nissan Motor (7201.JP)$ 、 $Mitsubishi Motors (7211.JP)$ 、 $KASAI KOGYO (7256.JP)$、 $Kioxia Holdings (285A.JP)$ etc
MOOMOO News on Japanese Stocks Kingsley

Market Overview
The Nikkei average stock price in the Tokyo stock market today closed at 39,081.71 yen, down 282.97 yen from the previous business day, while the Tokyo Stock Price Index (TOPIX) closed at 2,719.87, down 8.33 points. Ahead of the upcoming announcement of the US FOMC results, the Tokyo stock market is showing a cautious mood, with a continued trend of yen depreciation, leading to a day of selling dominance for the Nikkei average. Benefiting from the management integration with Honda and NISSAN MOTOR CO, $KASAI KOGYO (7256.JP)$ such as seeing high buying interest.

Top News
Higashi Kogyo and Yorozu surged, with rumors of Nissan-Honda merger benefiting their own component stocks financially.
Engaged in interior components. $KASAI KOGYO (7256.JP)$ Vroom and Shock Absorption, $Yorozu (7294.JP)$ Transmission, $Univance (7254.JP)$ Surged. In the morning edition of the Nikkei on the 18th, it was reported that Honda and NISSAN MOTOR CO are entering into discussions toward management integration. Concerns over the future of component production for struggling NISSAN MOTOR CO had been raised among various suppliers. It seems that funds flowed in, as there are expectations of expanded sales channels through management integration and a conscious recognition of the potential for industry restructuring in the component sector.

Hot stocks
"2024 IPO" ranks 12th, with Kioxia listed today. <ETC>
According to the 'Popular Theme Rankings' compiled by Min-Kabu and Kabu-Tans, "2024 IPO" ranks 12th.
Today, on the 18th, the semiconductor memory giant $Kioxia Holdings (285A.JP)$ debuted on the Tokyo Stock Exchange Prime Market. The opening price was slightly below the offering price of 1455 yen at 1440 yen, but it has been performing well, quickly rising to the 1500 yen range.

Nippon Steel - Lack of movement, US Steel acquisition plan, pro-Biden labor union factions reportedly request Biden to halt. <ETC>
$Nippon Steel (5401.JP)$ Shows little movement. On the 18th, Bloomberg News reported that the faction of the US Congress supporting labor unions has asked President Biden to "clearly reject" the acquisition plan by the company of the US steel giant US Steel. The Committee on Foreign Investment in the United States (CFIUS), which has been reviewing the acquisition proposal, reportedly needs to inform President Biden of the results by the 22nd or 23rd.

Kawasaki Heavy Industries shares surged significantly, with domestic securities firms upgrading the stock as having undervalued sentiments in defense-related stocks.
$Kawasaki Heavy Industries (7012.JP)$ Rising sharply. SMBC Nikko Securities has raised its investment rating from '2' to '1' and also raised the target price from 5000 yen to 8700 yen. As a defense-related stock, it is relatively undervalued with significant room for reevaluation, with the risk of not holding being recognized. It is believed that the negative impact of the downward revision in the PS&E business has mostly been factored in, and looking ahead to the perspective of the stock market shifting to the fiscal year ending March 2026, the recognition of undervaluation will likely be reaffirmed.

Shin-Etsu Chemical is firm, implementing a share buyback of up to 1.01% of its own shares.
$Shin-Etsu Chemical (4063.JP)$ Firmly. After the close of trading on the 17th, it announced its intention to repurchase its own shares. Through a TOB method, it will acquire a maximum of 20,061,000 shares (1.01% of the issued shares excluding treasury stock) at a price of 4685 yen per share. Sompo Japan and Aioi Nissay Dowa Insurance plan to participate in this TOB.

Stem Cell Research sees a sharp increase, and plans to implement a share buyback of up to 190,000 shares.
$StemCell Institute (7096.JP)$ Is rising significantly. The announcement of a share buyback after the close of trading on the 17th has been well received. The maximum is set at 190,000 shares (1.85% of the issued shares) or 200 million yen, with the acquisition period running from December 18th to November 30th next year. The aim is to enhance shareholder returns, improve capital efficiency, and pursue a flexible capital policy to respond to changes in the business environment. Incentive provision to executives and employees is also cited as a reason.

Ebara Corporation continues to rise significantly, with domestic securities houses raising their target stock price in anticipation of record profits for the coming fiscal year.
$Ebara (6361.JP)$ Continues to rise significantly. SMBC Nikko Securities maintains its '1' investment rating and has raised the target stock price from 2300 yen to 2800 yen. The likelihood of achieving record profits for the fiscal year ending December 2025 has increased, leading to a higher valuation. In addition to growth in the Energy and Precision/Electronics businesses, the one-off factors such as goodwill impairment are expected to have run their course, raising the forecasted operating profit for the fiscal year ending December 2025 to 100 billion yen.