Daido Steel (5471) fell. Daiwa Securities downgraded investment decisions from “2” to “3,” and the target stock price was also lowered from 1800 yen to 1600 yen. The increase in profit levels due to the shift to high value-added products is reflected in stock prices, and in the future, in addition to performance trends, including the expansion of sales of stainless steel for semiconductor devices and the recovery in sales volume of special steels, attention is also being paid to whether efforts to improve capital efficiency by expanding shareholder returns, etc. will be strengthened. While investment is expanding in the new mid-term plan, I have the impression that the message of improving capital efficiency is weak.
大同特鋼---反落、今後は資本効率向上施策必要として国内証券が格下げ
Datong Special Steel fell and domestic securities downgraded it, stating that capital efficiency improvement measures will be necessary in the future.
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