Tokyo Market Summary: Nikkei Average falls for the third consecutive day, Buffett's favorite trading firm stocks become more undervalued due to the Japanese stock market crash - Is this a good opportunity for investment?

Top News
The Nikkei Average continues to fluctuate, and the market is wary of the lingering "BOJ risk".
The decline in the Nikkei average stock price at one point exceeded 800 yen. The "main opinions" from the Bank of Japan's monetary policy meeting held on July 30-31 were announced. Although the "hawkish" tone was temporarily corrected by Deputy Governor Shinichi Uchida's remarks on the 7th, there were also comments in the main opinions that "gradual rate hikes are necessary". Is the Bank of Japan hawkish or dovish? The market is confused and has mixed expectations.
Related Articles
"Timing and gradual" interest rate hike = Main opinions of the Bank of Japan's July meeting

The stocks of trading companies favored by Mr. Buffett have become more undervalued due to the Japanese stock market crash. Is it a good investment opportunity?
The 5 major Japanese trading companies that renowned American investor Warren Buffett invests in have seen a significant decrease in valuation due to the impact of the historic Japanese stock market plunge, presenting an opportunity for Mr. Buffett to increase his shareholding. Mitsuo Otomo, representative director of Bito Financial Services, commented on the current state of trading company stocks, saying, "Now is a range where you can buy because it has become undervalued." $Marubeni (8002.JP)$and $Mitsui (8031.JP)$After the Japanese stock market crashed on the 1st, it fell 31% in the following three business days, the largest drop among the five major trading companies' stocks, greatly underperforming the Tokyo Stock Price Index (TOPIX), which fell 20%.

Cryptocurrencies rise again - Ripple's court ruling in the United States is well received.
Major cryptocurrencies (virtual currencies) rose in trading on the 8th in Asian time. Ripple Labs, the issuer of XRP (Ripple), was ordered by a US federal court judge to pay a sanction of $125 million (about 18 billion yen), but the company considered this result a victory against the US Securities and Exchange Commission (SEC).

Hot stocks
Nitori Holdings soared as the yen weakened, despite an increase in import costs in the April-June period, leading to higher revenue and profit.
$Nitori Holdings (9843.JP)$After the end of trading on the 7th, Nitori Holdings announced its consolidated financial results for the April-June period, with revenue increasing by 6.6% to 232.819 billion yen compared to the same period last year, and operating profit increasing by 4.6% to 34.488 billion yen. Various initiatives such as store expansions and campaigns have been successful. Despite the increase in personnel expenses due to recruitment activities and wage revisions, as well as the rise in import costs due to the weakening yen, the company absorbed these costs through the increase in revenue. The good financial results have been well received and the stock is being bought.
Related Articles
Japanese stocks see gradual domestic demand buying, with Nitori rising significantly.
Nitori Holdings Chairman: "Long-awaited yen strength, heading towards the 130 yen range."

Kobayashi Pharmaceutical withdraws from red yeast rice business.
$Kobayashi Pharmaceutical (4967.JP)$It was revealed on the 8th that they are withdrawing from the red yeast rice business.

Laser Tech temporarily hit the daily upper limit, viewing the plan for consecutive record profits and a 288 yen per share annual dividend for the 25th fiscal year as a surprise.
$Lasertec (6920.JP)$Before reaching the daily upper limit, there was a scene where it was bought at 5,000 yen higher than the previous business day, reaching 7170 yen. Following the closing of trading on the 7th, they disclosed their performance forecast for the fiscal year ending June 2024 along with the consolidated earnings report. They expect a 12.4% increase in revenue for this fiscal year, reaching 240 billion yen compared to the previous period, and foresee a 25.3% increase in final profit, reaching 74 billion yen. It is expected to update the record profit like the previous period. In addition, they increased the dividend by 39 yen from the previous period, setting the annual dividend forecast for this fiscal year at 288 yen, an increase of 58 yen from the previous fiscal year. There is a gathering of buyers viewing the substantial profit and dividend increase plan as a surprise.

INPEX and petroleum resources are high, as WTI prices rise due to a decrease in US crude oil inventories.
$Inpex (1605.JP)$and $Japan Petroleum Exploration (1662.JP)$is high. On the 7th, the US crude oil futures prices rose, with WTI (West Texas Intermediate) for September rising by $2.03 to $75.23 per barrel compared to the previous day. The US Energy Information Administration (EIA) announced a greater-than-expected decrease in crude oil inventories in the petroleum inventory statistics on the same day, tightening supply and demand dynamics. Also, tensions between Israel and Iran are escalating, increasing concerns about the Middle East situation, which is another factor pushing up oil prices.