＜7205＞ Hino Tsuyoshi 406.1 -62.5

Plummeting. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 17.7 billion yen, 3.1 times higher than the same period last year, and market expectations were also exceeded by about 6 billion yen. The full-year forecast was also revised upward from the previous 20 billion yen to 30 billion yen, due to factors such as yen depreciation effects and sales recovery. However, due to loss records related to North American certification, etc., it was also announced that full-year net profit and loss, which had been undecided, would be in deficit of 220 billion yen, and there would be no distribution following the previous fiscal year. It seems that deterioration in balance sheets is also viewed as a warning sign.

＜9552＞ M&A Research Institute 2408 -333

Plummeting. Financial results for the fiscal year ending 24/9 were announced the day before, and operating income was 8.41 billion yen, up 83.6% from the previous fiscal year, up 83.6% from the previous fiscal year, which is higher than the previous forecast of 7.2 billion yen. However, up to the 3rd quarter, it was 7.02 billion yen, and the upward trend is expected. For the fiscal year ending 25/9, 10.4 billion yen is expected to increase continuously, with a 23.7% increase in profit, but it has not reached market expectations. At the end of September '25, the number of M&A advisors was 400-450, which was revised downward from 500 until now. It also led to a decline in expectations for high growth.

＜2175＞ SMS 1844.5 -299

A sharp decline. Financial results for the first half of the year were announced the day before, and operating profit was 3.57 billion yen, down 24.0% from the same period last year, and the profit decline rate expanded further with a 40.9% decrease in the 7/9 fiscal year. The full-year forecast of 9.1 billion yen, an increase of 10.0% from the previous fiscal year, remains unchanged, but downside concerns seem to prevail. Incidentally, the company is an enterprise that has continued to increase in regular income since its establishment. Cost increases associated with intensive recruitment of carrier partners and execution of investments such as advertising measures were the main reason for the first half of the year profit reduction settlement.

＜7278＞ EXEDY 4115 +215

Significant continued growth. It was announced the implementation of 12 million shares, which is 28.71% of the number of issued shares, and treasury stock up to 30 billion yen. The acquisition period is from 10/30 to 25/10/29. Expectations that implementation of high-level share buybacks will lead to immediate support for supply and demand have taken the lead. Also, the annual dividend has been raised from the previous plan of 120 yen to 200 yen. The purpose is to improve capital efficiency and strengthen shareholder returns. Furthermore, the financial results for the first half of the year, which were announced at the same time, also showed a significant increase in operating profit.

＜9507＞ Shikoku Electric Power 1372.5 +148

rapid expansion. Financial results for the first half of the year were announced the day before, and although ordinary profit was 55.9 billion yen, down 13.5% from the same period last year, it exceeded market expectations, and full-year forecasts were revised upward from the previous 48 billion yen to 74 billion yen, down 7.6% from the previous fiscal year. The full year market consensus was around 52 billion yen. It seems that volume increases in retail sales, unit price increases, etc. covered the negative effects of the decline in nuclear power operation. Dividend plans etc. have remained unchanged, but expectations for dividend increases over the next fiscal year are increasing.

＜2212＞ Yamazaki bread 3092 +410.5

skyrocketing. Financial results for the 3rd quarter were announced the day before, and operating profit was 7.8 billion yen, up 6.9% from the same period last year, and market expectations were lowered by just over 1 billion yen. However, it seems that the current slowdown in earnings was sufficiently factored in due to the decline in stock prices since the announcement of financial results for the first half of the year. Also, price increases for some bread products and Japanese and Western confectionery products have been announced starting January 1st shipments. Shipment prices for target products increased by 5.6% on average, leading to expectations for financial results for the fiscal year ending 2015/12.

＜6701＞ NEC 13215 -340

A sharp decline. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 40.2 billion yen, up 11.2% from the same period last year, and market expectations seem to have declined by about 4 billion yen. The profit growth rate etc. of the social infrastructure business have been slightly sluggish in the 7-9 fiscal year. The full-year forecast remains unchanged at 255 billion yen, a 35.6% increase from the previous fiscal year, which is above consensus. Furthermore, the volume of orders received for domestic IT services has maintained strong sales, with a 2-digit increase following the first quarter.

＜6301＞ Komatsu 4028 -42

A sharp decline. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 146.4 billion yen, down 2.3% from the same period last year, and market expectations seem to have declined by about 10 billion yen. Meanwhile, the full-year forecast was revised upward from the previous 557 billion yen to 573 billion yen, down 5.6% from the previous fiscal year. However, market consensus, which was around 600 billion yen, was not reached, and excluding 38.6 billion yen, which is an increase in earnings factor due to exchange rates, it can also be accepted as a real downturn due to sluggish North American construction machinery growth, etc.

＜6861＞ KEYENCE 69160 +2150

Significant continued growth. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 140.6 billion yen, up 11.2% from the same period last year, which seems to have shaken market expectations by about 5 billion yen. Gross profit margins improved both year-on-year and quarter-on-quarter due to the depreciation of the yen and cost reductions. Also, plans were announced to raise dividends by 25 yen each at the end of the interim period and to set annual dividends to 350 yen, an increase of 50 yen from the previous fiscal year. It is a development that is viewed positively.

＜1973＞ NESIC 3250 +250

Significant continued growth. NEC announced that it will become a wholly owned subsidiary. Currently, NEC holds 51% of the company's shares, and TOB will be implemented to acquire all shares. The TOB price is 3250 yen and is 8.3% premium compared to the previous day's closing price. The TOB period is from today until 12/11. The company encourages shareholders to apply for TOB. The day before, the postponement of the financial results announcement time was announced, and there was a rapid increase thereafter. It seems that it was a situation where TOB speculations etc. took precedence.