I would like to pay attention to the following 3 points in the transaction before the 26th.

■Mainly individualized material stock colors

■East Building, 24/12 revised upward net profit 62 billion yen ← 48.5 billion yen

■Notable materials from the front: KIOXIA HD introduced next-generation SSDs in '26, ahead of the competition

■Mainly individualized material stock colors

As market participants are limited in the Japanese stock market on the 26th, it seems that market developments with a strong sense of this will continue. The US market on the 25th was closed for Christmas holidays. Since many countries, such as Germany and the United Kingdom, are closed, it will be difficult for trends to appear. The Nikkei 225 futures night session showed a noticeable range trend between 39100 yen and 39200 yen, and ended at 39140 yen, which is 60 yen lower than during the day. The yen exchange rate remained in the 20 yen range of 157 yen per dollar.

Since the Nikkei Stock Average is moving towards 225 futures, it seems that sales will take a slight lead. However, since the turnover of the night session was reduced to around 1000 sheets, it seems that the impact will be limited. There was also a scene where yesterday's Nikkei Stock Average fell below 39,000 yen in the middle of the front market, but the 25th line functioned as a support line, making it difficult to set up sales. Sales associated with tax savings measures have been observed, but it will not be a move to break the trend.

Conversely, in the US before the start of the holidays, the NASDAQ index had recovered to the 0.02 million level, so it is easy to expect an increase after the Christmas holidays. Therefore, at the 25-day line level of the Nikkei Stock Average, it is thought that it is easy to buy with the aim of waiting for a push assuming a year-end high. Also, yesterday, the morning high and after were weak, and market developments with such a strong sense continued in the backfield. However, amid awareness of the slow return of high-tech stocks, there was an inflow of funds into value stocks.

Also, although there is no spread in shopping, there is also an inflow of funds aimed at short-term price ranges in one corner of small and medium-sized stocks. While market participants are limited, individual-based material stock prices take center stage, and it is likely that they will also move towards dividend orientation. It is difficult to think about the trend of actively selling while people are aware of the appreciation of US stocks after the end of the holidays, and it is probably something they would like to respond with a stance aimed at push.

Also, yesterday, there was a scene where Toyota (7203) was bought in a backseat because the yen exchange rate fluctuated slightly due to the fact that the yen depreciated slightly, assuming that Bank of Japan Governor Ueda Kazuo showed a pigeon stance. While there is a lack of clue materials, I would like to see that it is easy to show a reaction to exchange rate movements.

■East Building, 24/12 revised upward net profit 62 billion yen ← 48.5 billion yen

East Tatemono ＜8804＞ announced revisions to its earnings forecast for the fiscal year ending 2024/12. Net profit was revised upward from 48.5 billion yen to 62 billion yen. The recorded amount of profit from the sale of investment securities (special profit) was determined for the sale of part of the shares held by the company in connection with sales carried out by Hulic ＜3003＞. Also, along with the upward revision, the year-end dividend was revised to 53 yen per share, which is a 10 yen increase from the previous forecast. As a result, the dividend payout ratio is expected to be 30.3%.

■Notable materials from the front

・The Nikkei Average rose (39130.43, +93.58)

・1 dollar = 157.20-30 yen

・Active share buybacks

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

・KIOXIA HD (285A) introduced next-generation SSDs in '26, ahead of the competition

・Kanematsu ＜8020＞ enters into electricity supply and demand adjustments and forms a partnership with the Irish company

・Mizuho Leasing ＜8425＞Prevent multiple leases, cooperate with 50 leasing companies, build a construction equipment DB

・Unitika ＜3103＞ agenda such as extraordinary general meeting and director election on February 7 next year

・Toyota Motor Corporation ＜7203＞ donates 0.15 billion yen to Mr. Trump

・Koito Seisakusho (7276) increased production of high-performance sensors by 10 billion yen in capital investment for the fiscal year ending 26/3

・Mitsui & Co. ＜8031＞ 7-Eleven and biodiesel fuel demonstration, used in food delivery vehicles

・Canon ＜7751＞ Executive Officer Miura is on the offensive with semiconductor lithography equipment, and demand for HPC will continue next year

・IIJ ＜3774＞Provision of computing infrastructure for AI with Mitsubishi Corporation and others, and establishment of a new cloud company

・Hino Motors ＜7205＞ engine certification fraud, Australian class action lawsuit settled for 8.5 billion yen

・Canadevia ＜7004＞Final Report on Marine Engine Fraud

・Direct communication between KDDI ＜9433＞ Starlink and smartphone, by the end of the year

・Futaba Sangyo ＜7241＞Exhaust system parts plant for Suzuki in India, operating for 27 years

・Aucnet ＜3964＞ used EV leasing, basic agreement between 3 companies, Mitsubishi HC Capital, etc.

・Tokyo Keiki ＜7721＞New buildings in Tochigi and Nasu are put into operation, and production of equipment for the Self-Defense Forces is increased

・Nikon ＜7731＞ cameras focus on video production, business opportunities to expand the video market

・Fuji Electric ＜6504＞starts mass production of 6-inch SiC power semiconductors in Aomori

・Fujitsu ＜6702＞ provides a common data platform for logistics DX verification of chemicals WG

・NEC ＜6701＞ provides identity assurance technology to the Expo Pavilion with decentralized ID and biometrics

☆ Front office event schedule

＜Domestic＞

・Nothing in particular

＜Overseas＞

・Nothing in particular