“Chicago Nikkei Average Futures (CME)” (15th)

SEP24

O 41350 (in dollars)

H 41450

L 41065

C 41135 large exchange ratio -35 (evening ratio -45)

Vol 5045

SEP24

O 41300 (in yen)

H 41405

L 41025

C 41090 large exchange ratio -80 (evening ratio -90)

Vol 18745

“American Depositary Receipts Overview (ADR)” (15th)

In the ADR market, Japan Post Bank ＜7182 ＞, Japan Post Bank ＜6178 ＞, Takeda Pharmaceutical ＜4502＞, Mitsubishi Corporation ＜8058＞, Advantest ＜6857＞, Recruit HD ＜6098＞, Tokyo Elec ＜8035＞, etc. fell in comparison with the Tokyo Stock Exchange (equivalent to 158.09 yen per dollar), etc.

Code stock name closing price compared to previous day Japanese yen conversion price Japanese closing price ratio

7203 (TM.N) Toyota 206.91 -0.68 3271 -3

8306 (MUFG.N) MITSUBISHI UFJFG 11.08 0.01 1752 2

8035 (TOELY) Tokyo Elec 111.85 -1.83 35365 -335

6758 (SONY.N) Sony 95.63 -0.44 15118 -17

9432 (NTTYY) NTT 25.14 -0.06 159 0.3

8058 (MTSUY) Mitsubishi Corporation 20.81 -0.26 3290 -45

6501 (HTHIY) Hitachi 46.64 -0.29 3686 -15

9983 (FRCOY) Fast Lite 27.18 -0.18 42969 -41

9984 (SFTBY) SoftBank G 36.22 -0.40 11452 57

4063 (SHECY) Shin-Etsu Chemical 20.83 -0.09 6586 -35

8001 (ITOCY) ITOCHU Corporation 100.80 -0.60 7968 -2

8316 (SMFG.N) Sumitomo Mitsui FG 13.61 -0.07 10758 -32

8031 (MITSY) Mitsui & Co. 470.26 -0.53 3717 -4

6098 (RCRUY) Recruit HD 11.89 -0.09 9398 -101

4568 (DSNKY) Daiichi Sankyo 37.99 0.01 6006 19

9433 (KDDIY) KDDI 14.23 0.04 4499 -26

7974 (NTDOY) Nintendo 14.05 -0.08 8885 -31

8766 (TKOMY) Tokio Marine HD 38.95 -0.20 6158 -22

7267 (HMC.N) Honda Motor 32.49 -0.10 1712 8.5

2914 (JAPAY) Japan Tobacco 13.76 0.06 4349 -21

6902 (DNZOY) Denso 16.21 -0.02 2563 -18.5

4519 (CHGCY) Chugai Pharmaceutical 19.88 -0.08 6286 2

4661 (OLCLY) ORIENLAND 29.11 -0.05 4602 -1

8411 (MFG.N) Mizuho FG 4.33 -0.01 3423 15

6367 (DKILY) Daikin Industries 14.59 -0.11 23065 -130

4502 (TAK.N) Takeda Pharmaceutical 13.39 -0.05 4234 -64

7741 (HOCPY) HOYA 129.91 -1.24 20537 12

6503 (MIELY) Mitsubishi Electric 35.00 -0.16 2767 -9

6981 (MRAAY) Murata Manufacturing 11.29 -0.06 3570 -7

7751 (CAJPY) Canon 27.79 -0.04 4393 -10

6273 (SMCAY) SMC 25.74 -0.08 81385 65

7182 (JPPTY) JP BANK 8.80 0.15 1391 -147

6146 (DSCSY) disco 39.40 -0.50 62287 -243

3382 (SVNDY) 7 & i HD 11.42 -0.03 1805 -9

8053 (SSUMY) Sumitomo Corporation 25.50 0.03 4031 32

6702 (FJTSY) Fujitsu 16.63 0.16 2629 38

6201 (TYIDY) TOYOTA INDUSTRIES 86.17 -1.06 13623 18

5108 (BRDCY) Bridgestone 19.62 -0.11 6203 -35

6178 (JPPY) Japan Post 10.00 0.00 1581 -79

8002 (MARUY) Marubeni 189.36 -1.03 2994 -3

6723 (RNECY) Renesas 10.10 -0.12 3193 -16

6954 (FANUY) FANUC 14.26 -0.05 4509 67

8725 (MSADY) MS&AD Inci HD 23.38 -0.11 3696 -4

8801 (MTSFY) Mitsui Fudosan 29.20 -0.10 1539 2

6301 (KMTUY) Komatsu Seisakusho 30.13 -0.14 4763 18

4901 (FUJIY) FUJIFILM 12.08 0.01 3819 9

6594 (NJDCY) Nidec 11.06 -0.12 6994 -31

6857 (ATEYY) ADVANTEST 40.40 -0.60 6387 -73

4543 (TRUMY) Terumo 17.29 -0.06 2733 6.5

8591 (IX.N) oryx 115.80 -0.49 3661 -1

(Top 50 by market capitalization, converted to 158.09 yen per dollar)

“Top 5 ADR Growth Rate Stocks” (15th)

Code stock name closing price Japanese yen conversion price Japanese closing price ratio (%)

9503 (KAEPY) Kansai Electric Power 8.72 2757 73.5 2.74

5020 (JXHLY) ENEOS 10.50 830 16.3 2.00

9101 (NPNYY) NYK 5.99 4735 72 1.54

6954 (FANUY) FANUC 14.26 4509 67 1.51

6702 (FJTSY) Fujitsu 16.63 2629 38 1.47

“Top 5 ADR Decline Rate Stocks” (15th)

Code stock name closing price Japanese yen conversion price Japanese closing price ratio (%)

8830 (MITEY) Sumitomo Real Estate 14.00 4427 -659 -12.96

7182 (JPPTY) Japan Post Bank 8.80 1391 -147 -9.56

8750 (DLICY) Dai-ichi Life HD 26.20 4142 -401 -8.83

2801 (KIKOY) Kikkoman 23.40 1850 -102.5 -5.25

6178 (JPPY) Japan Post 10.00 1581 -79 -4.76

“US Stock Market Overview” (15th)

NYDOW

Closing price: 40211.72 compared to the previous day: 210.82

Opening Price: 40138.40 High Price: 40351.10 Low Price: 40136.10

Year to date high: 40211.72 Year to date low: 37266.67

Previous year high: 37710.10 Previous year low price: 31819.14

Nasdaq

Closing price: 18472.57 compared to the previous day: 74.12

Opening Price: 18485.91 High Price: 18641.53 Low Price: 18397.83

Year-to-date high: 18647.45 year-to-date low: 14510.30

Previous year high: 15099.18 Previous year low price: 10305.24

S&P 500

Closing price: 5631.22 compared to the previous day: 15.87

Opening Price: 5638.16 High Price: 5666.94 Low Price: 5614.75

Year-to-date high: 5633.91 year-to-date low: 4688.68

Previous year high: 4783.35 Previous year low price: 3808.10

US 30-year government bonds 4.459% US 10-year government bonds 4.232%

The US stock market continues to grow. The Dow average closed at $40,211.72, up $210.82, and the Nasdaq closed 74.12 points higher at 18,472.57.

After the attempted assassination incident, it rose after receiving reports that Mr. Trump, the Republican presidential candidate, had the upper hand and was snuggled up to purchases expecting policies he had set forth, such as deregulation. Chairman Powell of the Federal Reserve (Fed) spoke about inflation and stated that he was even more convinced of improvements aimed at achieving targets based on the results of indicators for the 2nd quarter, and also supported expectations of interest rate cuts, and the market price rose one level. Even though it stalled towards the end of the game, the market remained steady throughout the day, and the Dow hit a record high, and ended. By sector, banks and automobiles/auto parts rose, while public utilities declined.

The financial company Goldman Sachs (GS)'s bond and stock trading income exceeded expectations in the second quarter financial results, and rose due to a drastic increase in profit. Netflix (NFLX), which distributes videos, rose due to analysts' target stock price increases. The mobile terminal Apple (AAPL) reached a record high with a 33% increase in sales for the year up to March in India, and analysts further raised investment decisions to the view that replacements would increase due to the announcement of artificial intelligence (AI) platforms, and it rose.

The firearm manufacturer Smith & Wesson Brands (SWBI) was bought in response to the attempted assassination of Mr. Trump and factored in an increase in sales. The department store Macy's (M) announced the termination of negotiations over the company's takeover proposals by two investment companies, and declined. Also, the cosmetics retail chain Alta Beauty (ULTA) continued to be an issue with drastic price cuts, etc., and when it became a risk of full-year earnings forecasts, analysts removed it from the purchase list and sold it.

Chairman Powell suggested that interest rate cuts will be implemented before the target is achieved, as there is no waiting until inflation reaches 2%.

(Horiko Capital Management LLC)