Tokyo Market Summary: The Nikkei Average continues to rise for 3 days, “If the YCC policy does not take the lead and become flexible, it will be difficult to maintain,” says Bank of Japan committee member Noguchi

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●The Nikkei Average ended at 32494.66 yen, 558.15 yen higher than the previous business day
● YCC policy will be difficult to maintain if we don't take the initiative and make it flexible - Bank of Japan Committee Member Noguchi
● Toyota and Idemitsu collaborate on mass production of all-solid-state batteries
● Honda and Mitsubishi Corporation announce supply-demand adjustment cooperation for electric power supply and demand for EV batteries
● Toshiba to delist on December 20 Extraordinary general shareholders' meeting in late November
● Attention to the handle: $Toyota Motor (7203.JP)$、 $Idemitsu Kosan (5019.JP)$、 $Murata Manufacturing (6981.JP)$、 $Honda Motor (7267.JP)$、 $Mitsubishi (8058.JP)$etc
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Market Overview
In today's Tokyo stock market, the Nikkei Stock Average ended at 32494.66 yen, 558.15 yen higher than the previous business day, and the TSE stock price index (TOPIX) ended at 2320.34, 12.50 points higher.

Top news
The YCC policy will be difficult to maintain if it is not proactive and made flexible - Bank of Japan Committee Member Noguchi
On the 12th, deliberation committee member Noguchi Asahi of the Bank of Japan spoke about the management flexibility of the yield curve control (long and short interest rate manipulation, YCC) policy decided at the monetary policy meeting in July, “This is because it has the property that maintenance becomes difficult unless we take the initiative and make it flexible.” I gave a lecture at the Niigata Prefecture Financial and Economic Conference.

Machine orders fell 0.5% in August, negative financial decline for 2 consecutive months
According to the August machine order statistics announced by the Cabinet Office on the 12th, “civilian demand excluding ships and electricity” (seasonally adjusted), which is regarded as a leading indicator of capital investment, was 840.7 billion yen, down 0.5% from the previous month. Negative will be the second month in a row. Orders from non-manufacturing industries, mainly in the financial and insurance industries, declined by 3.8%.

Notable stocks
Toyota and Idemitsu collaborate on mass production of all-solid-state batteries
$Toyota Motor (7203.JP)$with $Idemitsu Kosan (5019.JP)$It was announced on the 12th that they will collaborate for mass production of next-generation batteries “all-solid-state batteries” for electric vehicles (EVs). All-solid-state batteries are regarded as the “favorite” that dramatically enhances the performance of EVs, and Toyota is aiming to launch vehicles equipped with them from 2027 to 28. Accelerate development speed through collaboration with Idemitsu, which has knowledge of material manufacturing technology.

Mitsubishi Heavy Industries - Rear Field Increase, Expansion, Profit Margin Increase for Defense Equipment, Up to 15% in Quality and Shortened Delivery Times = Nikkei
$Mitsubishi Heavy Industries (7011.JP)$The rear field increase range has been expanded. The electronic edition of the Nihon Keizai Shimbun reported at 12:07 on the 12th that the Ministry of Defense raised the estimated operating profit margin on the corporate side when ordering defense equipment to a maximum of 15%. According to the article, it seems that a system for evaluating efforts such as quality and shortening delivery times will also be used.

Honda and Mitsubishi Corporation announce power supply-demand adjustment cooperation for EV batteries
$Honda Motor (7267.JP)$with $Mitsubishi (8058.JP)$It was announced on the 12th that they will jointly embark on supply-demand adjustments for electricity using electric vehicle (EV) batteries. In addition to reusing EV batteries for power storage stations that store electricity from renewable energy sources, we aim to stabilize the balance between supply and demand of electricity by utilizing EVs themselves.

Toshiba to delist on December 20 Extraordinary General Meeting of Shareholders in late November
$Toshiba (6502.JP)$It was announced on the 12th that an extraordinary general shareholders' meeting will be held on November 22 to discuss stock consolidation proposals for delisting. If the bill is approved, stock listing on the Tokyo Stock Exchange will be abolished on December 20. Domestic alliances such as Japan Industrial Partners (JIP) carried out TOB (public tender offer), and TOB was established on 9/21.

Murata manufacturing is doing well, and it is conveyed as a policy to add MLCC to the target of “specified important goods” to strengthen economic security◇
$Murata Manufacturing (6981.JP)$is going strong. It was reported that the government went over target items of “specific important goods,” which ensure stable supply from the viewpoint of economic security, and an additional plan was presented at the Liberal Democratic Party meeting on the 11th. Among these, it is said that multilayer ceramic capacitors (MLCC), which are widely mounted on electronic devices, were included.

Distribution source: Bloomberg, Nihon Keizai Shimbun, MINKABU, Traders Web