I would like to pay attention to the following 3 points in the 11-day advance transaction.

■Aiming for a push that assumes gas loss after passing the CPI

■Token Corpo, 25/4 revised upward operating profit 19.2 billion yen ← 14.1 billion yen

■Notable materials from the front floor: Nishikawa Rubber Industries plans to resume a new plant for automotive seal parts

■Aiming for a push that assumes gas loss after passing the CPI

The Japanese stock market on the 11th is likely to have such a strong sense of market development. On the 10th, the NY Dow depreciated by 154 dollars and the NASDAQ depreciated by 49 points in the US market. While views on additional interest rate cuts at the US Federal Open Market Committee (FOMC) are deeply rooted, the wait-and-see attitude of wanting to determine results has strengthened due to the possibility that the US Consumer Price Index (CPI), which is about to be announced on the 11th, will affect policy changes. The Chicago Nikkei 225 futures settlement price is 39320 yen, 80 yen lower than Osaka. The yen exchange rate has been hovering in the 151 yen 90 yen range per dollar.

The Nikkei Stock Average is likely to start slightly ahead of sales in the form of falling in line with Chicago futures. In the US, amid a wait-and-see attitude of wanting to determine CPI results, it became a movement to adjust the holding level. Also, since one part of semiconductor stocks such as NVIDIA had weak price movements, values with a large index impact are likely to burden high-tech stocks. However, it has risen significantly in response to the announcement that Alphabet has developed a new type of chip to use in quantum computers, and it seems that it will support high-tech stocks.

Also, Nikkei 225 futures were temporarily bought up to 39510 yen during the night session, and there was also a scene where they captured the milestone of 39,500 yen. In the end, it looked like they were being pushed by sales waiting to return at the same level, but I would like to be aware of developments where the upper price was captured again after the first round of sales. In the futures market, ahead of weekend futures/options special settlement index calculation (major SQ), it is thought that rollover associated with monthly changes will take center stage, but the solidity of the Bollinger Bands at the +1 sigma level has been seen at the moment, and it is easy for sellers to be aware of buybacks. If it seems that 39500 yen will be captured again, there is a possibility that the buyback movement will intensify, so it seems that they will move towards a stance aimed at push. After passing the CPI, people will also be aware of the movement to get rid of gas.

As for the trend of shopping, high-tech stocks are difficult to handle, but yesterday Advantest ＜6857＞ entered the backstage and intensified the recovery movement. If people seem to be aware of the solidity after the first round of sales, it seems that a movement to review high-tech stocks will be expected. Also, since yen depreciates slightly in the exchange market, it is thought that it is easy for people to be aware of export-related purchases, etc.

■Token Corpo, 25/4 revised upward operating profit 19.2 billion yen ← 14.1 billion yen

Token Corporation ＜1766＞ announced revisions to its earnings forecast for the fiscal year ending 2025/4. Sales were revised upward from 360.478 billion yen to 364.052 billion yen, and operating profit was revised upward from 14.17 billion yen to 19.239 billion yen. Sales increased as construction started early and construction periods were shortened due to thorough construction progress management in the construction business. In terms of profit, it exceeded initial expectations due to efforts to reduce costs in the construction business.

■Notable materials from the front

・The Nikkei Average rose (39367.58, +207.08)

・1 dollar = 151.90-00 yen

・The VIX Index declined (14.18, -0.01)

・US crude oil futures rose (68.59, +0.22)

・Active share buybacks

・Request for improvement of corporate value by the Tokyo Stock Exchange

・Nishikawa Rubber Industries ＜5161＞ plans to resume a new plant for automotive seal parts

・Mitsubishi Heavy ＜7011＞ “Next Fighter” Design Center Newly Established in Aichi

・Teijin ＜3401＞ develops resin for cars, uses recycled plastic, complies with draft European regulations

・Mitsui Chemicals ＜4183＞FY30 ICT operating income of 73 billion yen, of which it aims for 10 billion with new products

・Mr. Masayoshi Hasegawa, President of Micronics Japan ＜6871＞, is preparing for generative AI growth and large-scale investment

・Mitsubishi Electric ＜6503＞ unveiled a new ISS replenishment machine, and supplies will be used as a lunar orbiting base in the future

・Blue Innovation＜5597＞ accelerates drone port development and aims for a leap forward with domestic production

・Compatible with Toray ＜3402＞ Toray Engineering, coating equipment, and glass intermediate substrates

・Mitsubishi Heavy Industries ＜7011＞ Macau LRT extension opening, 2 routes, handover

・Fujitsu ＜6702＞ for expanding the use of 3D skeletal data, passing on skills, etc.

・ROHM＜6963＞Partnered with TSMC to develop automotive GaN devices

・TOPPAN ＜7911＞ Senior Managing Executive Officer Mr. Tetsuro Ueki, Photomask Competition Lead

・Nisshinbo HD ＜3105＞ Expands “micro devices” for automotive use and creates a stable profit base

・Nichicon ＜6996＞ long life capacitor compatible with high ripple current

・Dai Nippon Printing ＜7912＞ Senior Managing Executive Officer Mitsuru Tsuchiya, photomask, EUV compatible

・Taiyo Yuden ＜6976＞ collaborates with Tohoku University for high-temperature energy conversion

・JFE ＜5411＞JFE Steel invests 70 billion yen in new hot-dip galvanizing facility in the Fukuyama area

・Mitsubishi Materials added 4 products to the ＜5711＞ recycled metal brand

・Autonomous operation of resin plants with DIC＜4631＞ Hitachi, Ltd., and introduction of digital twin technology

・Bioengineering supplies to Mitsubishi Chemi-G＜4188＞ SUVs and Suzuki

・Taisei Corporation ＜1801＞Determine energy saving repairs before short-term diagnosis, new tools, and design

・INPEX (1605) sold Australian interests to 3 companies

☆ Front office event schedule

＜Domestic＞

・ 08:50 10-12 Corporate Business Forecast Survey · Large Enterprise All Industry Business Condition Judgment Index (July-9: +5.1 compared to the previous fiscal year)

・ 08:50 November Domestic Corporate Goods Price Index (year-on-year forecast: +3.4%, October: +3.4%)

＜Overseas＞

・Nothing in particular