Tokyo Market Summary: The Nikkei Average falls for 3 days in a row, expectations and anxiety about NVIDIA's financial results intersect

Top news
Ueda Will the “0.5% barrier” waiting for the Bank of Japan be revived interest rates over 30 years
An “interest rate barrier” stands in the way of the Bank of Japan looking at the cancellation of the negative interest rate policy. Policy interest rates have hardly been raised since the burst of the bubble, and “have not exceeded 0.5% over the past 30 years” (Bank of Japan officials). Awareness of the issue also oozes from statements made by President Ueda Kazuo and Vice President Uchida Shinichi.

Trade balance deficit of 1,758.3 billion yen in January export growth is sluggish
According to the January trade statistics bulletin announced by the Ministry of Finance on the 21st, the trade balance after deducting the import value from the export value was in deficit of 1,758.3 billion yen. The deficit narrowed by 49.9% compared to the same month of the previous year. There was a trade deficit for the first time in 2 months.

Notable stocks
Advantest continues to fall for 4 days, US NVIDIA financial results are pending, and height adjustments are being adjusted
$Advantest (6857.JP)$It has been falling drastically for 4 days. At one point, 6495 yen, 232 yen (3.44%) lower than the previous day, was added. Major US semiconductor company $NVIDIA (NVDA.US)$It fell drastically to 4.35% lower than the previous weekend in the US stock market on the 20th. NVIDIA is scheduled to announce financial results for the fiscal year ending 2023/11/24 on the 21st, and there are concerns about a sharp drop in stock prices when it is accepted that the content does not meet high expectations.

SoftBank Group continues to decline, Saudi government companies and poor response to robot manufacturing
$SoftBank Group (9984.JP)$It continues to decline. There is a scene where they sell up to 8290 yen, which is 249 yen (2.91%) lower than the previous day. On the 20th, it was announced that a joint venture to manufacture industrial robots would be established with a company under the umbrella of a Saudi Arabian government fund, but the response was weak. A major British semiconductor design company with a subsidiary on the US stock market the day before $Arm Holdings (ARM.US)$It has depreciated by 5%, and sales are dominant in SBG stocks.

Snow Peak rapidly announced MBO, bringing it closer to the TOB price of 1,250 yen per share
Of outdoor equipment $Snow Peak (7816.JP)$has grown rapidly. The rate of increase from the previous day reached about 10%, and it is at the top of the Tokyo Stock Exchange Prime Market price increase rate ranking. It was officially announced that it will be delisted due to MBO (takeover by management) on the 20th. It is good that the US investment fund Bain Capital will carry out a TOB (public tender offer) at 1250 yen per share (closing price on the 20th is 1138 yen), and there is a slight trend.

Aozora Bank shares continue to rise at a rate of increase for the first time in about 4 years, and expectations such as normalization of dividends next fiscal year
$Aozora Bank (8304.JP)$Stocks are recovering and strengthening their pace. Stock prices plummeted due to the announcement of deficit forecasts and dividend postponements for the current fiscal year (fiscal year ending 2024/3), but review purchases are currently dominant due to expectations for improvements in business performance from the worst period and early reinstatement next fiscal year, etc. The stock price on the 21st was 2,400 yen, up 8.4% at one point, and recorded an intraday rate of increase since 2020/3. It has risen 3 times in a row since the beginning of this week, and it has risen close to 20% from the low on the 16th (2020 yen).

ORIX to issue 5-year bonds for individuals with an issuance amount of 30 billion yen
$ORIX (8591.JP)$It became known on February 21 that they are preparing to issue 5-year bonds to individual investors. The issuance amount is 30 billion yen, and the provisional interest rate is 0.500 to 0.800%.

Mitsubishi Electric - Investment in satellite data service planning shares falling for the first time in 5 days
$Mitsubishi Electric (6503.JP)$fell for the first time in 5 days. The company said on the 21st $Mitsubishi UFJ Financial Group (8306.JP)$Mitsubishi UFJ Bank, which is under the umbrella of $Integrated Design & Engineering Holdings (9161.JP)$Three companies announced that they have invested in a satellite data service project (Chiyoda-ku, Tokyo, hereinafter SDS). Note that the positive impact on stock prices has been limited.
RELATED ARTICLES
Mitsubishi Electric declined, and the year-end dividend forecast was announced to be 30 yen, but there is limited movement in terms of good news