Tokyo Market Summary: Inflation expectations of companies that continue to fall on the Nikkei Average will remain solid and support the achievement of 2% targets

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●The Nikkei Stock Average ended at 31759.88 yen, down 97.74 yen from the previous business day
● Bank of Japan's persistence in YCC becomes a US bond buying signal - Mitsubishi UFJ Australian management company
● Upward revision to 13% increase in capital investment FY23, September Bank of Japan Tankan
● Airbus A350-1000 introduced as a new flagship for international flights that continued to drop for 3 days
● Yaskawa Electric and FANUC continue to rise, and China's September manufacturing PMI surpassed 50 for the first time in 6 months
● Attention to the handle: $Japan Airlines (9201.JP)$、 $YASKAWA Electric (6506.JP)$、 $Fanuc (6954.JP)$、 $SoftBank Group (9984.JP)$
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Market Overview
Today's Nikkei Stock Average closed at 31759.88 yen, 97.74 yen lower than the previous business day, and the Tokyo Stock Price Index (TOPIX) fell 8.95 points to 2314.44.

Top news
Bank of Japan's persistence in YCC becomes a US bond buying signal - Mitsubishi UFJ Australian management company
While US bonds have been hit by the worst sales in the past year, Australia's Mitsubishi UFJ Financial Group (MUFG) asset management company has shown the view that strongly setting out an attitude of adhering to the yield curve control (YCC, long and short interest rate operation) policy will be an opportunity to stop the price drop in US bonds.

Corporate Inflation Expectations Remain Steady and Support Realization of 2% Targets - Bank of Japan Short-Term View
Inflation expectations, which hold the key to achieving the 2% price stability target that the Bank of Japan aims for, have remained solid even as import prices turn to decline and actual increases in consumer prices peak out. According to the “corporate price outlook” in the September corporate short-term economic observation survey (tankan) announced on the 2nd, the average year-on-year rate of increase in the consumer price index (CPI) expected by companies remains above 2%, 2.2% after 3 years, and 2.1% after 5 years.

Japan's booming corporate bond market goes against global trends - increased issuance due to speculation by the Bank of Japan
Japan is one of the few major markets where the issuance of corporate bonds is strong. Companies that are issuers are trying not to miss the last opportunity to raise funds at a low cost. $Toyota Motor (7203.JP)$In addition, at least 20 companies are preparing to raise funds in October. The amount of yen-denominated corporate bonds issued has already exceeded 12 trillion yen since the beginning of the year, and recorded a record high.

Upward revision to 13% increase in capital investment FY23, September Bank of Japan Tankan
According to the September Nationwide Enterprise Short-Term Economic Observation Survey (Tankan) announced by the Bank of Japan on the 2nd, the capital investment plan for fiscal 2023 was revised upward, with a 13.0% increase from the previous fiscal year for all industries of all sizes. It exceeded the median private sector forecast (12.3%).

Featured stocks
Airbus A350-1000 introduced as a new flagship for international flights that continued to drop for 3 days
$Japan Airlines (9201.JP)$It continued to fall for 3 days. The company announced on the 2nd that it will introduce the Airbus “A350-1000” as a new international flagship for the first time in about 20 years. Service was scheduled to commence in late November, but due to delays in delivery of parts due to supply chain disturbances, etc., it was changed to service later this year.

Yaskawa Electric and FANUC continued to rise, and China's September manufacturing PMI surpassed 50 for the first time in 6 months
$YASKAWA Electric (6506.JP)$Ya $Fanuc (6954.JP)$It continues to soar. The manufacturing purchasing manager business index (PMI) for the same month announced by China's National Bureau of Statistics on September 30 was 50.2, surpassing 50, which is the boundary between a good and a recession, for the first time in 6 months.

The US Vuori of SoftBank G-Continuing Growth Investment is reported to have an IPO plan in the middle of next year
$SoftBank Group (9984.JP)$Continued growth. Bloomberg reported on 9/30 that the US activewear brand Vuori, which is the company's investment destination, is discussing with investment banks about implementing an initial public offering (IPO) as early as mid-2024.

Distributors: Bloomberg, Nihon Keizai Shimbun, Traders Web, MINKABU