The first quarter earnings reports for the five major trading companies for the fiscal year ending in March 2025 (1Q, April to June) showed thatgains from asset sales and exchange rate differences due to the weakening of the yen contributedandMitsubishi Corporation and three other companies increased their net profit. As for the full-year net profit outlookThe high progress rateOn the other hand, recently, the pressure for the yen to appreciate has increased due to concerns about additional interest rate hikes by the Bank of Japan and speculation of interest rate cuts in the United States.The level of the dollar-yen exchange rate in the 147 yen range, which has appreciated since the 1Q period.The assumed exchange rate for each company's March 2025 fiscal year is 140-145 yen.If the current level continues or the yen appreciates, the expectation of profit improvement due to yen depreciation will decline.However, each company's CFO stated in the earnings conference that the impact of the current high yen exchange rate and the Bank of Japan's additional interest rate hikes is not significant or limited.etc.etc.also experienced an inverted yield curve.だ。
商社決算発表が集中した8月初旬は日本株の大暴落が発生した。日経平均株価が７月末終値比で8月５日までに約20％下落するとともに５大商社のバリュエーションも大きく下がった。ブルームバーグは8日の記事で、投資著名投資家Warren Buffett previously indicated an increase in the ownership ratio of Japanese trading company stocks.For Mr. Buffett, it can be seen that he...

$Taiwan Semiconductor (TSM.US)$ It's not that it's decided by Trump, but he goes to take profits from TSMC because he wants results. So, knowing that profits will be taken even if they increase, the profits are expected to be below the financial estimates. Institutions will not buy from now on. They will steadily sell, and although individuals will buy when it becomes cheaper, it might become a perfect selling target for institutions. I also have TSMC in my portfolio, but if NVDA is the only option and it doesn't work out, I'm considering withdrawing.

● $Taiwan Semiconductor (TSM.US)$Is Japan timeAnnouncement of financial results for the 2nd quarter of 2024 on the afternoon of 7/18I plan to do it.
●According to Moomoo, the market expects TSMC's 24Q2 sales to be 653.345 billion Taiwan dollars and EPS to be 45.83 Taiwan dollars.
●24Q1 sales were 18.87 billion dollars and EPS was 1.38 dollars, both of which exceeded market expectations.
●Wall Street analysts expect TSMC's net profit for Q2 to grow 29% year over year.
●Attention should be paid to Q2 financial results: net profit, full-year sales forecasts, capital investment plans, AI demand forecasts, etc.
TSMC, the world's largest foundry company, is scheduled to announce 2024 Q2 financial results on the afternoon of 7/18. Riding on the wave of AI demand, the company's stock showed a very strong rise this year, and the year-to-date rate of increase exceeded 81%, recorded a record high, and the total market value also broke through 1 trillion dollars at one point. Ahead of financial results, analysts at several major banks are in charge...

$Micron Technology (MU.US)$
決算は悪くなかったものの下落、ただし長期のメモリー半導体のストーリーには何ら影響もなく、高値からも20%弱下落しており割高感が払拭しつつある為、長期保有考える人にとっては押し目とも取れる。
しかし月末のリバランス等で短期的にはもう一段売られていく事も考えられる。
また中期的な目線でも大統領選挙の不透明感や過去のアノマリー的にも7月を天井に10月辺りまである程度売り圧力がある事も踏まえて考えていきたい。
個人的には前回の高値圏で半導体ポジションを全て売却してしまった関係で半導体ポジションが無くキャッシュがかなり多い為、決算後の下落で一部買いを入れた。ここからさらなる下落があれば段階的に買って今年の年末に向けての準備を進めていきたいと思う。
$Micron Technology (MU.US)$

$Aidma Holdings (7373.JP)$ I slapped my mouth in a bossy manner, but today I withdrew. There's absolutely no atmosphere that seems to improve as the terrain gets worse.