Tokyo market summary: the Nikkei average fell sharply in response to the Soros faction's sale of NVIDIA shares.

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The yen fell to the 155 yen level temporarily, as FRB officials suggested keeping interest rates unchanged.
In the foreign exchange market on the 8th, the yen fell against the dollar and briefly reached the 155 yen level. The 155 yen level is the lowest level of depreciation in about a week since 2 days ago. The movement of selling yen and buying dollars is dominant, as the remarks of a high-ranking official of the Federal Reserve Board (FRB) suggested keeping policy interest rates unchanged and assumed that the interest rate differential between Japan and the United States would not narrow in the near future.
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There is strong concern about the impact of a weak yen on prices, and Finance Minister Suzuki said, "There is no line to protect."
There are pros and cons to a weak yen, and it is currently important to respond to inflation."

Domestic new car sales in April, EV ratio 1.1%, the lowest level in 2 years.
The Japan Automobile Dealers Association (JADA) and the National Association of Light Motor Vehicle Manufacturers (NAMLMA) announced on the 8th that the number of sales in April was calculated. The number of domestic electric vehicle (EV) sales in April was 2,866 units, a 54% decrease from the same month of the previous year. EVs accounted for 1.1% of new car sales, reaching the lowest level since May 2022.

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Toyota achieves operating profit of 5 trillion yen, the first Japanese company to do so, in the fiscal year ending in March 2024 due to the expansion of hybrid vehicles (HV).
$Toyota Motor (7203.JP)$Toyota announced its consolidated financial results for the fiscal year ending in March 2024 (based on international accounting standards), with operating profit reaching 5 trillion 352.9 billion yen, a 96% increase from the previous year. This is a new record and the first time a Japanese company has exceeded the 5 trillion yen mark. Strong hybrid vehicle (HV) sales in countries such as the United States, as well as a weak yen, contributed to this achievement.
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Toyota's operating profit forecast is 4.3 trillion yen, falling short of the expectation by 1 trillion yen due to share buybacks.
Toyota President: 'Realizing a comprehensive strategy' with an investment of 380 billion yen in human capital.

Mitsubishi Heavy Industries is expected to achieve its highest profit for the current fiscal year, but fell more than 7% below market expectations.
$Mitsubishi Heavy Industries (7011.JP)$On the 8th, they announced that their consolidated operating profit for the fiscal year ending March 2025 is expected to be 350 billion yen, an increase of 23.9% compared to the previous year. Although it is expected to reach its highest level ever, it fell short of the consensus forecast of 393.5 billion yen by 11 analysts compiled by I/B/E/S. The forecast for consolidated orders is 5.8 trillion yen. While it is at a high level compared to previous years, it is a decrease from the record high of 6.684 trillion yen in the fiscal year ending March 2024.
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Mitsubishi Heavy Industries' final result for this fiscal year increased by 4% and achieved its highest profit for the second consecutive year. The dividend for the previous period has been increased by 40 yen, and the dividend for this period is effectively increased.

NYK Line recovered in the afternoon, temporarily rising more than 5% in response to a share buyback of up to 100 billion yen and an increase in dividends.
$Nippon Yusen Kabushiki Kaisha (9101.JP)$NYK Line recovered in the afternoon. On the 8th at noon, they announced the implementation of a share buyback program with a maximum total number of shares to be acquired of 35 million (equivalent to 7.6% of the total number of issued shares excluding treasury stock) and a total acquisition amount of 100 billion yen, coinciding with the announcement of their consolidated financial results for the fiscal year ending March 2024. In addition, they revised the previous period's dividend by 10 yen and increased the forecast for the annual dividend for the fiscal year ending March 2025 by 20 yen compared to the previous period, which seemed to be well received by shareholders.

Source: Reuters, Nikkei, Bloomberg, MINKABU