The depreciation of the dollar weighs heavily on Japanese stocks -- “SBG/SoftBank acquires NTT” (SMBC Nikko Securities)

There was an exchange of buying and selling Japanese stocks on December 22. In the US market the day before, semiconductor-related stocks were high across the board, with Micron's 8% increase in financial results announcements as the driving force. The Philadelphia Semiconductor Index is up 2.77%.

There are many semiconductor-related stocks among the top trading price stocks in the Tokyo market, and when the Philadelphia Semiconductor Stock Index rises the day before, it becomes easier for the Nikkei Average to rise as well.

Today, the rise in the Nikkei Average was limited, despite the significant increase in the semiconductor index the day before. The depreciation of the dollar and the appreciation of the yen may have weighed on Japanese stocks. Also, there may be few market participants before Christmas.

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The report “Telecommunications Sector: Points of Interest in 2024: The Day SBG/ SoftBank Will Acquire NTT” issued by SMBC Nikko Securities on the 21st left an impression on me. Changes in major shareholders are expected in the telecommunications industry after '24. NTT is expected to sell government holdings. There is a possibility that KDDI will sell shares held by Kyocera and Toyota. In line with changes in major shareholders, the telecommunications industry is expected to restructure in the medium term.

“M&A of Japanese companies” will probably be a major stock price material even after '24.

Radio NIKKEI commentator Kamata Shinichi

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