I would like to pay attention to the following 3 points in the pre-market transaction on the 13th.

■Even though it's before the 3 consecutive holidays, it's easy to buy something to keep waiting for

■Token Corpo, 1Q operating profit up 72.5% to 5.168 billion yen

■Notable materials from the front: Daihen, strategic model, integrated functions of 5 models into semi-automatic welding machines

■Even though it's before the 3 consecutive holidays, it's easy to buy something to keep waiting for

The Japanese stock market on the 13th is likely to develop to determine solidity after a round of buying. The US Wholesale Price Index (PPI) for August rose 0.2% from the previous month and exceeded market expectations (0.1% increase). The European Central Bank (ECB) Policy Committee announced policy interest rate cuts for 2 consecutive meetings as expected. The US Federal Reserve (Fed) is expected to cut interest rates by 0.25% at the US Federal Open Market Committee (FOMC) next week, and while continuous interest rate cuts in a form of keeping pace are expected, they have remained steady, supported by high-tech stocks. The Chicago Nikkei 225 futures (December) settlement value is 36740 yen, 110 yen higher than Osaka. The yen exchange rate is moving in the range of 141 yen to 70 yen per dollar.

The Nikkei Stock Average is likely to start before buying in response to US stock appreciation. There was also a scene where Nikkei 225 futures were sold for up to 36150 yen at one point during the night session, but due to a turnaround towards the end, they were bought up to 36840 yen at one point. Although it is small at 36660 yen, it finished in the positive zone, surpassing the Bollinger Band's -1σ. Also, the 52-week line, which moves around 36060 yen, is likely to be perceived as a support line, and rebound momentum is likely to increase.

Also, in the US, NVIDIA continues to grow, and the movement to buy back high-tech stocks that were currently being sold continues. Even in the Tokyo market, there is a high possibility that they will be directed towards buybacks such as Toelec ＜8035＞, etc., and it seems that this will lead to a solid overall market price. Also, today is the futures option special settlement index calculation (major SQ) for the September term, but due to the trend of high US stocks, it is expected that it will pass without turbulence. If the SQ value seems to function as a support line, it is easy to buy while waiting for the push even before the 3 consecutive holidays.

Also, basically, it is thought that this feeling will intensify, but if it seems that buyback movements in response to recent drastic adjustments will intensify ahead of next week's FOMC, it is likely that the Nikkei Stock Average will approach 37255 yen on the 25th line or 37537 yen on the 200-day line. The search was aimed at rebounding stocks that had been sold while identifying movements to buy back high-tech stocks. On the other hand, while the yen exchange rate tends to fluctuate against the appreciation of the yen, it seems that sales with adjusted holdings will prevail for export-related stocks, etc. Other than that, it is easy for individuals to target price ranges for small and medium-sized stocks, etc. Also, yesterday Sakura ＜3778＞ finished with a high stop. Movements aimed at reinvigorating will also be likely to intensify for stocks that have reached the end of the 6-month credit period.

■Token Corpo, 1Q operating profit up 72.5% to 5.168 billion yen

The first quarter results for the fiscal year ending 2025/4 announced by Token Corporation ＜1766＞ were sales of 89.012 billion yen, up 8.3% from the same period last year, and operating profit of 5.168 billion yen, up 72.5% from the same period last year. In the real estate leasing business, sales increased compared to the same period last year due to an increase in rent income and management fee income, etc. from tenants due to the sublease management agency system (consolidated loan system) due to an increase in the number of managed properties. In the construction business, the amount of completed construction increased compared to the same period last year due to an increase in order volume in the previous consolidated fiscal year.

■Notable materials from the front

・The Nikkei Average rose (36833.27, +1213.50)

・The NY Dow rose (41096.77, +235.06)

・The Nasdaq Composite Index rose (17569.68, +174.15)

・Chicago Nikkei futures rose (36740, +110 compared to Osaka)

・The VIX Index declined (17.07, -0.62)

・US crude oil futures rose (68.97, +1.66)

・Expectations that US inflation will calm down

・Active share buybacks

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

・Strategic model and function integration of 5 models into the Daihen ＜6622＞ semi-automatic welding machine

・Shinto Kogyo ＜6339＞ 3D printer market development and parts supply to NASA

・Ricoh ＜7752＞Reduce 2000 people at home and abroad, improve profitability, and switch to digital services

・Kansai Electric Power Company ＜9503＞ high-capacity DC in Kyoto will be in operation in fiscal year 27

・NTT ＜9432＞NTT Communications obtains DC certification from NVIDIA

・Nippon Steel ＜5401＞US Steel takeover round up, talks with vice chairman and senior US government officials

・Nippon Steel ＜5401＞ Keidanren writes a letter to the US government concerned about political pressure over the US Steel takeover

・Mitsubishi Heavy Industries ＜7011＞ profit is expected to increase drastically due to the depreciation of the yen and recovery in demand as a tailwind related to aviation

・Sumitomo Corp. ＜8053＞Partnering with Belgian Construction and Mining Machinery Companies

・Bridgestone ＜5108＞ Belgian plant automates aircraft tire regeneration process

・U-SHIN SEIKI ＜6482＞ luggage transshipment is seamless, and efficiency is improved by collaborating with robots

・Bridgestone ＜5108＞ unveiled the latest collaborative robot hand for the first time, and the grip is stable by fusing an adsorption mechanism

・Alps Alpine ＜6770＞ location information utilization system reduces truck waiting time

・Nikon ＜7731＞ Executive Officer Morita Masahiro attacks with semiconductor lithography equipment

・Joint research agreement with Sony G ＜6758＞ Australian University, surgical training development

・JFEHD ＜5411＞JFE Steel, overseas problem solving support, equipment maintenance/energy saving, etc.

・Shikoku Electric Power ＜9507＞ Demonstrated at Tokyo University of Agriculture and Technology and mandarin orange gardens in Ehime using soil microorganisms as a power source

・Aika Industries ＜4206＞New building in Ibaraki increases production of high-grade artificial stone 1.5 times

☆ Front office event schedule

＜Domestic＞

・Nothing in particular

＜Overseas＞

・Nothing in particular