Daito Trust Construction, Stanley Electricity, ETC.

*Daito Kento <1878> is investing 45 billion yen in logistics facilities in Chiba and Tochigi for in-house development (Nikkan Kogyo, front page) - ○ *Stanley Electric <6923> is promoting development collaboration and re-evaluating its in-house policy for rapid market introduction (Nikkan Kogyo, page 7) - ○ *Toyota Gosei <7282> is investing in digital archi and considering using recycled resin for construction molds (Nikkan Kogyo, page 7) - ○ *Horiba Seisakusho <6856> Horiba Estec has developed ultra-thin control devices for semiconductor equipment, with maximum gas flow increased sevenfold (Nikkan Kogyo, page 9) - ○ *Dai Nippon Printing <7912> mini

Fisco JapanJan 21 18:36 ET

API, Ryohin Keikaku ETC (Additional) Rating

Upgrades - Bullish Code Stock Name Securities Company Previous After ---------------------------------------------------------------- <4568> Daiichi Sankyo Mizuho "Hold" "Buy" <6768> Tamura Manufacturing Morgan Stanley "Equal Weight" "Overweight" Downgrades - Bearish Code Stock Name Securities Company Previous After --------------------------------------------

Fisco JapanJan 20 22:18 ET

Stocks reaching the upper and lower limits in the first half of the trading session.

■Limit Up <2962> Technisco <4935> Liberta <7815> Tokyo Board Industry <9425> ReYuu Japan ■Limit Down <3350> Metaplanet *Includes temporary limit up/down (indicative prices).

Fisco JapanJan 20 22:00 ET

The Nikkei average rebounded significantly, temporarily recovering to 39,000 yen, but caution regarding Trump 2.0 weighed heavily.

On the 17th, the US stock market rebounded. The Dow Inc rose by 334.70 points to 43,487.83, while the Nasdaq closed 291.91 points higher at 19,630.20. In addition to the International Monetary Fund's (IMF) upward revision of global and domestic economic growth forecasts for 2025, optimistic views on the economy were spreading due to the better-than-expected number of housing starts and industrial production in December, leading to a rise after the opening. With the presidential inauguration set for the 20th, there are expectations for regulatory easing by the next administration and support measures for businesses and the economy.

Fisco JapanJan 20 02:00 ET

NINTENDO CO LTD - continued decline, as expectations for the new Game Console have been somewhat factored in, leading to a downgrade by a U.S. securities firm.

Continued decline. Morgan Stanley MUFG Securities has downgraded its investment rating from "overweight" to "equal weight," while leaving the Target Price at 9,800 yen. Although there has been no change in the outlook for performance expansion due to Switch 2, it seems to determine that the stock price has somewhat incorporated these expectations. They would like to monitor the expected release in June-July and subsequent sell-through to explore whether there is an opportunity to turn back to a positive stance.

Fisco JapanJan 19 23:32 ET

Stocks that moved or were traded in the first half of the session.

*System Research <3771> 1545 +204, favorably received the announcement of this period's dividend increase. *TAKARA & COMPANY <7921> 3240 +342, large shareholding of Miller Capital has become apparent. *Daiichi Sankyo <4568> 4450 +369, positively received the FDA approval of "Datroway." *UNITIKA <3103> 147 +11, rebound is anticipated considering the firmness of the lower price. *Fuji HD <4676> 1826 +135.5, speculation about acquisitions is surfacing but telecommunications.

Fisco JapanJan 19 23:25 ET