Tokyo Market Summary: Nikkei Average continues to decline significantly due to falling US stocks and a strengthening yen, leading to a generally bearish market sentiment.

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The Nikkei average ended at 37,047.61 yen, down 1,638.70 yen from the previous trading day.
The increasing number of acquisition proposals to Japanese companies is seen as an option for partnering with overseas companies, says BofA Securities Investment Bank Division Manager.
Japanese stocks are expected to fall sharply as US economic indicators are lower than market expectations, especially in the electronics and precision sectors.
Chief Cabinet Secretary Kono: "It is important to make calm judgments" amidst the stock price decline.
Bandai Namco Holdings continued to rise sharply and updated its year-to-date high, with a leading domestic securities company raising its target stock price to 4480 yen.
Hot Stocks: $Nippon Steel (5401.JP)$、 $BANDAI NAMCO Holdings (7832.JP)$、 $Shiseido (4911.JP)$
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Market overview
The Nikkei Stock Average on the Tokyo Stock Exchange today closed at 37,047.61 yen, down 1638.70 yen from the previous trading day, and the Tokyo Stock Price Index (TOPIX) closed at 2633.49, down 99.78 points.

Top News
Collaboration with overseas players is becoming an option as the proposal for mergers and acquisitions to Japanese companies increases, according to BofA Securities' Head of Investment Banking.
Yuta Komori, Co-Head of the investment banking division at BofA Securities, expressed the view that the number of acquisitions of Japanese companies by overseas players, which has been doubling recently, will continue to increase. Interest in Japanese companies undergoing significant changes in management has been growing, and Japanese companies themselves are becoming less resistant to collaborating with overseas companies in their search for growth.

Japanese stocks are expected to experience a significant decline due to US economic indicators falling below market expectations, with selling pressure on electrical machinery and precision instruments.
On the 4th, the Tokyo stock market experienced a significant decline, with the Nikkei average stock price temporarily dropping by more than 4%. The August Institute for Supply Management (ISM) Manufacturing Purchasing Managers' Index (PMI) fell below market expectations, causing investor sentiment to cool down due to concerns about the US economy. The strengthening of the yen in the foreign exchange market also weighed on the market, leading to a decline in all 33 industries on the Tokyo Stock Exchange.

Chief Cabinet Secretary Yoshihide Hayashi stated during a press conference in the morning of the 4th that it is important to make calm judgments in response to the significant drop in stock prices.
During a press conference on the morning of the 4th, Chief Cabinet Secretary Yoshimasa Hayashi expressed the recognition that it is important for the government to make calm judgments as the Nikkei Average temporarily experienced a significant drop of over 1,500 yen.

Hot stocks
After the acquisition of US Steel, Nippon Steel announced the governance structure that included having the majority of its management team and directors hold US citizenship.
$Nippon Steel (5401.JP)$On the 4th, after the completion of the acquisition of US Steel, Nippon Steel disclosed a governance structure that included having the majority of its management team and directors hold US citizenship. In addition, the board of directors of US Steel stated that it would include at least three independent directors of US citizenship. This is believed to be in response to the voices calling for US Steel to be owned and operated within the United States, including from US presidential candidates.

BANDAI NAMCO Holdings continues to surge and reaches a new high for the year, with a leading domestic securities firm raising its target stock price to 4,480 yen.
$BANDAI NAMCO Holdings (7832.JP)$Continuing its rapid rise, BANDAI NAMCO Holdings has reached a new high for the year. SBI Securities revised its target stock price for BANDAI NAMCO Holdings from 4,080 yen to 4,480 yen on the 3rd. The investment rating remains "buy". It was noted that the download content for "ELDEN RING" is performing well, and trading card games such as "ONE PIECE CARD GAME" are driving the toy and hobby business.

Shiseido shares have fallen for the 6th consecutive day, as a domestic securities firm lowered its investment rating.
$Shiseido (4911.JP)$Shiseido shares have fallen for the 6th consecutive day. SMBC Nikko Securities has lowered its investment rating from "1" to "2" and lowered its target stock price from 6,200 yen to 3,800 yen, which is seen as a selling point.