Nomura Securities (3-tier system: Buy > Neutral > Reduce)
Shiono Gaku <4507.T> - Downgraded to "neutral", 2500 yen.
◎ Daiwa Securities (5 levels: 1 > 2 > 3 > 4 > 5)
Sekisui House R <3309.T> - "2" to "3", 85000 yen to 85000 yen.
SMBC Nikko Securities (3-tier system: 1 > 2 > 3)
Rakuten <4755.T> - "2" to "1", 1100 yen to 1100 yen.
◎Morgan Stanley MUFG Securities (three-tier system: overweight > equal weight > underweight)
dely <299A.T> - Initiated "overweight", 2000 yen.
Mizuho <8411.T> -- "Equal Weight" → "Overweight", 3410 yen → 4570 yen.
Resona HD <8308.T> -- "Overweight" → "Equal Weight", 1200 yen → 1250 yen.
Provided by Wealth Advisor Company.