I would like to pay attention to the following 3 points in the pre-market transaction on the 9th.

■Individual response using the sense of autonomous backlash as a clue to financial results

■LINE Yahoo, 24/3 operating profit down 33.8% to 208.1 billion yen

■Notable materials at the front desk: Toyo Kanetsu and Taisei Corporation supply transport robots, raw materials and workpieces to the factory ceiling space

■Individual response using the sense of autonomous backlash as a clue to financial results

The Japanese stock market on the 9th is expected to have an autonomous rebound against the previous day's decline, but it seems that the market will develop with a strong sense of closeness. In the US market on the 8th, the NY Dow rose 172 dollars and the NASDAQ depreciated by 29 points. Following President Kashkari of the Minneapolis Federal Reserve Bank, Boston Fed President Collins also mentioned the possibility that it would take longer than expected to achieve inflation targets, and long-term US interest rates rose and became a burden on the market. However, purchases from expectations of interest rate cuts in the latter half of the year by the US Federal Reserve (Fed) continued, and the NY Dow continued to grow for 6 business days. Chicago Nikkei 225 futures are 38425 yen, 215 yen higher than Osaka. The yen exchange rate has been hovering in the 155 yen 50 yen range per dollar.

It seems that they will start slightly ahead of buying, starting in the form of falling in favor of Chicago futures. However, Nikkei 225 futures moved slightly during the night session, and there was a stalemate at the 75-day line level. Although there is awareness of an autonomous backlash, it will not be a trend of aggressive purchases. Yesterday, as interest was gathered in the financial results of Toyota ＜7203＞, it initially fell by more than 4% immediately after the announcement, and then temporarily turned positive, and there were rough price movements. Since short-term funds are the center, it seems that stocks that initially showed an overreaction will be directed towards aiming for subsequent rebalance.

Also, although there were unstable market developments yesterday, it was difficult for business to expand as financial results announcements reached their peak, and it is thought that it was also influenced by trends in the futures market ahead of SQ. Today, too, there seems to be a future-led, gimmicky movement, but there is no active movement in front of SQ, so it will be a stance aiming for a rebound thereafter against sell-like movements.

Yesterday's Nikkei Stock Average broke through the 75-day line due to adjustments from a form where the upper price could be suppressed to the 25th line. As the dead cross with the 25th and 75th lines is approaching, there is a possibility that the 75th line will also be perceived as a resistance line, so aggressive price tracking is limited, and I would like to aim for a push. Other than that, individual support using financial results as clues is likely to take center stage, and when financial results were announced last night, LINE Yahoo ＜4689＞, Konica Minolta ＜4902＞, Trend ＜4704＞, Mazda ＜7261＞, Yamaha ＜7951＞, USS ＜4732＞, Coca BJH ＜2579＞, Nagase ＜8012＞, Lion ＜4912＞, Kose ＜4922＞, FANCL ＜4921＞, TIS＜3626＞, NetOne Trends such as 7518, Fujikyu ＜9010＞, and Round 1 ＜4680＞ are attracting attention.

■LINE Yahoo, 24/3 operating profit down 33.8% to 208.1 billion yen

As for the financial results for the fiscal year ending 2024/3 announced by LINE Yahoo! ＜4689＞, sales revenue was 1,814.663 billion yen, up 8.5% from the previous fiscal year, and operating profit fell 33.8% to 208.191 billion yen. In addition to the impact of making PayPay a consolidated subsidiary in 2022/10, sales revenue reached a record high due to an increase in strategic business sales associated with the growth of PayPay consolidation, including PayPay and PayPay cards, an increase in commerce business sales associated with the growth of the ASKL Group and ZOZO Group, and an increase in media business sales associated with the growth of account advertising.

■Notable materials from the front

・The NY Dow rose (39056.39, +172.13)

・1 dollar = 155.60-70 yen

・Chicago Nikkei futures rose (38425, +215 compared to Osaka)

・The SOX index rose (4790.38, +5.50)

・The VIX Index declined (13.00, -0.23)

・US crude oil futures rose (78.99, +0.61)

・Expectations that US inflation will calm down

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

・Toyota's own (7203) fiscal year ended the previous 3 months, operating profit of 5 trillion yen, the first major Japanese company

・Japan Airlines ＜9201＞ Grahan's automated acceleration, remote control type for aircraft towing/cleaning

・Nissan's own ＜7201＞ is considering a scale of 6 billion yen to provide financial support to Kasai Kogyo

・LINE Yahoo! ＜4689＞ Information Leakage Countermeasures: 15 billion yen, management system also reviewed

・TIS ＜3626＞ new mid-term plan, 100 billion yen for growth investment, acceleration of M&A at home and abroad

・Capital and business alliance with TIS ＜3626＞ Nudge, service for credit card entry

・Sumitomo Corp. ＜8053＞ Malaysian Clinic Acquisition Responds to Expanding Medical Demand

・Omron ＜6645＞ control equipment was rebuilt, and 28 billion yen was recorded for structural reforms

・Alps Logistics shares sold to Alps Alpine ＜6770＞ Logistics

・Kikuchi Seisakusho ＜3444＞ Group's Innophis demonstrates assist suit in warehouse delivery business

・NTT ＜9432＞ proposes the use of mobile communication, reduces the cost of installing a new optical line, and suppressing the deficit

・KDDI ＜9433＞Expand the scope of collaboration for 5G network construction nationwide with SoftBank

・Fujitsu General ＜6755＞ collaborates with a US company to develop markets with energy-saving air conditioners

・Daio Paper ＜3880＞ commercial plant in Ehime, 2000 tons of CNF composite resin per year

・Komatsu Matere ＜3580＞ new mid-term plan, growth investment of 5 billion yen over 3 years, operating profit of 25 billion yen

・Obayashi Corporation ＜1802＞GX construction equipment introduced, 20-ton class excavator verification this year

・Participated in the Resonac (4004) technology development organization to automate semiconductor post-process

・Sumitomo Chemical's (4005) business division was reorganized into 4 business divisions, and a next-generation growth model was established

・Maruichi Steel Pipe (5463) acquires land from Chugoku Denshi and enhances stainless steel products

・Kuraray sold its diatomite/perlite business to a French company

☆ Front office event schedule

＜Domestic＞

・ 08:30 March monthly labor statistics/total cash salary (year-on-year forecast: +1.4%, February: +1.4%)

・ 08:50 Main Opinions at the Bank of Japan Monetary Policy Meeting (4/25-26)

＜Overseas＞

・Time undecided ・April exports (year-on-year forecast: +1.3%, March: -7.5%)

・Time undecided ・April imports (year-on-year forecast: +4.7%, March: -1.9%)