Rating [Securities Companies' Ratings]

Rating upgrades - Bullish code stock names and brokerages: Previous rating → Updated rating ------------------------------------------------------------ <8955> J-Prime (SMBC Nikko: "2" → "1"), <8956> Premier (SMBC Nikko: "2" → "1"), <3167> TOKAIHD (Mizuho: "Neutral" → "Buy"), <1911> Sumitomo Forestry (Mizuho: "Neutral" → "Buy"). Rating downgrades - Bearish code stock names and brokerages: Previous rating → Updated rating --------

Fisco JapanJan 13 18:17 ET

GLP J-REIT: Securities Report (Domestic Investment Securities) - 27th Fiscal Period (March 1, 2025 - August 31, 2025)

EDINETNov 27, 2025 01:33 ET · Announcements

REIT Index Reaches Highest Level in 3 Years and 2 Months Amid Rising Stock Prices and Declining U.S. Interest Rates, Boosting Purchases in Logistics Stocks

On the 26th, the TSE REIT Index rose by 10.51 points from the previous day to reach 2033.50, marking its highest level in approximately three years and two months since September 2022. REITs investing in logistics facilities are being bought actively, driven by a strong uptrend in the overall Japanese stock market and a decline in U.S. interest rates. Market participants have noted, "It appears that overseas capital is flowing not only into equities but also into REITs" (a bank-affiliated securities firm). On the 25th, expectations of an interest rate cut by the U.S. Federal Reserve Board (FRB) also supported gains in U.S. REITs.

Jiji PressNov 26, 2025 00:55 ET

Japan M&A, JT, etc. (Additional) Rating

Downgrade - Bearish Code Stock Name Securities Company Previous Change After ------------------------------------------------------------- <2685> And ST Tokai Tokyo "Outperform" "Neutral" Target Stock Price Change Code Stock Name Securities Company Previous Change After ------------------------------------------------------------- <2127>

Fisco JapanOct 30, 2025 22:27 ET

Rating Information (Investment Judgment Change - Part 1) = Helios, Pickles H, etc.

Mizuho Securities (3-tier rating: Buy > Neutral > Underperform) reinstated Helios <4593.T> as "Neutral" with a target price of 510 yen. GLP <3281.T> was downgraded from "Buy" to "Neutral", with the target price revised from 165,000 yen to 150,000 yen. JCR Pharma <4552.T> was also downgraded from "Buy" to "Neutral", with the target price lowered from 2,000 yen to 690 yen. IwaiCosmo Securities (5-tier rating: A > B+ > B > B− > C) initiated coverage on Pickles H <2935.T> with an "A" rating and a target price of 1,300 yen. Source: Wealth Advisor Co.

Kabushiki ShimbunOct 20, 2025 20:51 ET

Rating Change Outlook: New Pickles H upgraded, Sanwa HD upgraded, JCR Pharma downgraded, among others.

New and resumed coverage of Pickles H: A domestic mid-tier company rates it at the top of a five-tier scale (target stock price is 1,300 yen). Helios: A bank-affiliated firm places it in the middle of a three-tier scale (coverage resumed, target stock price is 510 yen). Tokyo Metro: A European firm places it at the bottom of a three-tier scale (target stock price is 1,500 yen). Sanwa HD upgraded: A U.S. firm raises its rating to “Buy” (target stock price increased from 4,800 yen to 5,000 yen). LIXIL: A U.S. firm upgrades to “Buy”.

Kabushiki ShimbunOct 20, 2025 19:50 ET