<4091> Nippon Sanso HD 4332 -135

Significantly down. Morgan Stanley MUFG Securities continues its "Equal Weight" investment rating, lowering the target stock price from 5400 yen to 5200 yen. Vertex, the planned supplier, filed for Chapter 11, canceling the construction of a hydrogen production facility project and recording an impairment loss. A cautious approach is expected for future new project acquisitions, anticipating a slowdown in the pace of backlog growth due to the increase in deferred projects. The current profit margin also falls below expectations.

<7744> Noritz Steel Machinery 4865 +385

Sharp rebound. Nomura Securities continues its "Buy" investment rating, raising the target stock price from 6260 yen to 6540 yen. There is no sign of a slowdown in the momentum of DJ equipment sales, with an increasing impression of expanding demand in the individual market. Improvement in procurement costs, containment of research and development expenses, and an increase in AlphaTheta's profitability are expected, leading to an upward revision of performance forecasts. The operating profit for the fiscal year ending December 2025 has been revised upward by 13.4% from the previous forecast of 17.7 billion yen to 21.2 billion yen.

<5803> Fujikura 6375 +193

Marked continued surge. Morgan Stanley MUFG Securities has raised the target stock price from 4700 yen to 7250 yen and emphasizes the "Overweight" investment rating. Business environment in the wire industry continues to be robust, particularly with strong performance in optical components and devices for data centers. The company's stock price has slightly adjusted due to a sense of exhausted news, presenting a buying opportunity on dips. Operating profit for the fiscal year 2025 is expected to increase by 17% from the previous period, reaching 130 billion yen.

<4707> Kitack 357 -37

Heavily declined. The company announced its financial results for the period ending October 2024, achieving a significant increase in operating profit to 0.36 billion yen, more than double compared to the previous period. However, the third-quarter cumulative amount was at a 3.3-fold level compared to the same period last year, limiting the surprise effect. On the other hand, the forecast for the fiscal year ending October 2025 indicates a significant decrease in operating profit by 33.0% to 0.24 billion yen, changing from a marked gain to substantial loss. This is viewed negatively with expectations of intensified competition for orders and an anticipated decrease in revenue.

<8291> Nissan Tohd HD 423 -1

Resisting decline. It has announced the implementation of the sale of 12.09 million shares of 4,800 shares, as well as the over-allotment sale of 1.81 million shares of 4,200 shares. The sellers are the major shareholders of Sompo Japan, Tokio Marine & Nichido Fire Insurance, and Mitsui Sumitomo Insurance, and the selling price will be determined between December 18 and 20. On the other hand, in view of easing the supply and demand balance due to the sale, it has announced a share buyback of 7 million shares, equivalent to 10.51% of the issued shares, with a maximum amount of 5 billion yen. This buyback will be conducted in off-hours trading.

<7220> Musashi Seimitsu 3795 -75

Declining. Oracle announced that it has adopted its HSC in the company's cloud computing cluster, which had shown strong movements the previous day. However, the HSC Innovation Forum was held yesterday, which became a further upward trend driver in the morning today. However, profit-taking selling gradually increased as a reaction to the short-term sharp rise.

<4046> Osaka Soda 1692 +273

Surging. It seems that a financial results briefing session was held the day before, leading to a reassessment of the stock price. The construction of the second phase expansion of the Amagasaki plant for silica gel for obesity treatment drugs is about 6 months ahead of schedule, changing the planned completion from around autumn of 2026 to the fourth quarter of the 2025 fiscal year. It is responding to the active development competition of biosimilars in China, India, and other regions by major European and American pharmaceutical manufacturers. Expectations are also rising for an accelerated pace of business expansion.

<6632> JVCKW 1591 +104

Significant rebound. It seems that a new technology development base, the 'Value Creation Square,' which gathers the technology development teams for car navigation, wireless systems, audio, and projectors in one place, was unveiled the day before. The new base began full operations in December. There also seems to be an aim to break the revenue structure dependence on wireless business. Although the return on invested capital has risen to 8.9%, it aims to reach at least 12% by 2030. It appears that expectations for future developments have contributed to this positive trend.

<1861> Kumagai Construction Co., Ltd. 4060 +240

Significantly increased. Nomura Securities has raised its investment rating from 'Neutral' to 'Buy' and also raised the target stock price from 3110 yen to 5100 yen. It is believed that the improvement certainty of the construction gross profit margin after the fiscal year ending March 2026 has increased, and the stock price, which had been lagging behind other companies in the same industry, is expected to continue to rise. The profitability at the time of order receipt for the first half of the fiscal year ending March 2025 has reached its highest level ever, due to efforts in selective order acquisition. The annual dividends are expected to increase from 130 yen for the fiscal year ending March 2025 to 160 yen for the fiscal year ending March 2026, and 180 yen for the fiscal year ending March 2027.

<6036> Key Keeper Giken Co., Ltd. 4560 +365

Significantly increased. The company announced the monthly trends for November the day before. The same-store sales of Keyper Lab's operation business increased by 9.3% compared to the same month last year, returning to positive growth for the first time in two months. While the average unit price decreased by 7.4%, the number of visits increased significantly by 18.1%. This double-digit increase in the number of visits has not been seen since August 2023. The Autumn Fair, which has been implemented since October, continues to perform well. As the stock price fell due to a negative turn in same-store sales the previous month, the impact has become stronger.