MTG, Sanbio [Emerging Markets Rating List]

SMBC Nikko <7806> MTG 2 Maintained Morgan <4592> SanBio EQUALWEIGHT maintained * The ratings of the above companies are as confirmed by our company as of 03/24.

Fisco Japan05:34 ET

Aftermarket [Stocks that moved and stocks that were traded]

*Sumitomo Realty and Development Co. <8830> 6042 +575 reports that the hedge fund Elliott has acquired shares. *Taiyo Holdings <4626> 4700 +605 announced a change in profit distribution policy and upward revision of Dividends Financial Estimates. *Alvivin <7523> 1173 +131 announced a commemorative dividend for its 20th anniversary of listing. *Tamagawa Holdings <6838> 772 +322 revised upward its net profit Financial Estimates for the fiscal year ending October 2025. *Sonocom <7902> 907 +44 announced an expansion of the Shareholder benefit program. *Kei Pharma <

Fisco Japan03:10 ET

Kei Pharma - Presentation of clinical results of iPS cells for subacute spinal cord injury treatment by Keio University.

Kei Pharma <4896> announced on the 21st that the Keio University School of Medicine, a joint research partner, has presented clinical research results on regenerative medicine using iPS cell-derived neuronal precursor cells for subacute spinal cord injury. This study involved the transplantation of cells into a total of four patients with complete subacute spinal cord injury, and the announcement was made as the follow-up observation and collection of evaluation data have been completed. Regarding the research results on safety and efficacy, particularly concerning efficacy, there is evidence of motor function.

Fisco Japan01:42 ET

Ariake, Kuriyama HD, ETC (additional) Rating

Downgrade - Bearish Code Stock Name Brokerage Firm Previous After ------------------------------------------------------------- <2267> Yakult Morgan Stanley "Equal W" "Under W" <2810> House Food Group Mizuho "Buy" "Hold" Target Price Change Code Stock Name Brokerage Firm Previous After ----------------------------------------------

Fisco Japan22:32 ET

March 24th [Today's Investment Strategy]

[Fisco Selected Stocks] 【Material Stocks】 Mitachi Industries <3321> 1178 yen (3/21) a trading company for Semiconductors and Electronic Components. Considering recent performance trends, the Financial Estimates for the fiscal year ending May 2025 have been revised upwards. Operating profit is estimated at 2.1 billion yen (a 31.9% increase from the previous term). This is about a 10% increase from the previous estimate. The upward revision is due to the transfer of the commercial flow of automotive-related clients starting in the second quarter and solid orders in consumer-related EMS, etc. 【Emerging Markets Stocks】 Keipharma <489

Fisco Japan20:02 ET

Nano mRNA - The clinical trial country for the osteoarthritis drug "RUNX1 mRNA" has been changed to Australia to accelerate progress.

On the 19th, NANO MRNA <4571> announced that its subsidiary PrimRNA has been discussing with domestic regulatory authorities regarding the launch of a physician-led clinical trial for the mRNA-based treatment for osteoarthritis "RUNX1 mRNA." However, considering the development speed, the company has decided to change the trial conduct country from Japan to Australia and will carry it out as a corporate trial. This project was supported by the Japan Agency for Medical Research and Development (AMED) under the Medical Research and Development Innovation Infrastructure Creation Program in 2021.

Fisco Japan19:50 ET