<8273> Izumi 3563 -84

Significant decline. Daiwa Securities has downgraded its investment rating from "1" to "2" and lowered its target stock price from 4700 yen to 4500 yen. It seems that they have also reduced the earnings forecast due to factors such as system failures. In addition, considering the low liquidity and intensified competition, they appear to have lowered the fair valuation. Going forward, it is noted that the company's response to the issue of polarization in consumer spending will be a point of attention.

<6503> Mitsubishi Electric 2238 -52

Continued decline. UBS Securities has downgraded its investment rating from "Buy" to "Sell" by two notches and lowered its target stock price from 2900 yen to 1800 yen. The FA business has witnessed a clear decrease in market share due to the rise of Chinese companies, and the profit margin is beginning to decline in a toughening competitive environment. Therefore, they believe that the company's management options will narrow further in the future. It seems that they consider that the decline in the competitive strength of the FA business, which is the core business, is not priced into the current stock price level.

<8136> Sanrio 4086 +271

Significant increase. Morgan Stanley MUFG Securities has raised the target stock price from 2800 yen to 4100 yen while maintaining the investment rating as "Equal Weight". They have increased the revenue forecast for royalties in the Americas and China due to the expansion of license demand resulting from increased character recognition, leading to an upward revision of the earnings forecast. They have raised the operating profit forecast for the period from March 2025 to March 2027, and for this fiscal year, they have revised it upwards from 33.1 billion yen to 40.2 billion yen, exceeding the company's plan of 37.1 billion yen.

<4568> Daiichi Sankyo 4950 +55

Rebound. Nomura Securities has assigned a new investment rating of "Buy" and set the target stock price at 7000 yen. They evaluate that the progress of ADC platform development has achieved a significant increase in stock price since the beginning of the year and expect that the platform will lead the company to further growth. They consider that the disclosure of the results of Enhertu's DESTINY-Breast06 in the development event will be the most noteworthy, and assuming considerations for expanded indications, they anticipate that peak sales will exceed 1 trillion yen.

<1911> Sumitomo RIN 6770 +265

It is updating the high of July 23 with a significant increase. The number of housing starts in the United States in August, which was announced the previous day, increased by 9.6% compared to the previous month to 1.35 million 6 thousand units on an annualized basis, turning positive for the first time in two months. It exceeds the market expectation of around 1.31 million units. In addition, the US FOMC has decided to implement a 0.5% interest rate cut, which is expected to be a support for the future housing market. It seems that the outlook for the US housing business is becoming more positive.

<6047> Gunosy 806 -71

Significant decline. India's GaragePreneurs has announced that it will be excluded from the equity method-consolidated subsidiary. It has decided to suspend the dispatch of directors that it has been implementing and is said to have submitted resignation letters. Regarding the investment, it is stated that it will continue to be a significant pillar of the group's medium- to long-term growth and will continue to be a long-term shareholder as before. It is a field with high growth expectations, and there is a tendency to view the exclusion from the equity method as a negative factor.

<3663> CELSYS 1149 +150

It has reached the daily price limit. It has been announced the previous day that it has received approval from the Tokyo Stock Exchange to change its listing market segment from the Standard Market to the Prime Market as of September 25. The company has previously announced preparations for promotion, and it is a stock that was highly anticipated for promotion, but with the formal decision, there is a move to anticipate buying demand from TOPIX-linked funds and other investors in advance. The date of supply and demand generation is expected to be the end of October.

<4203> Sumitomo Bake 3850 +195

A significant increase. It is reported that Sumitomo Chemical is transferring a part of its shareholding through off-market relative trades to the Singapore Government Investment Corporation. The number of transferred shares is 6.51 million9021 shares, and the transfer price is 3,476 yen. As a result, Sumitomo Chemical's shareholding ratio will decrease from 22.62% on September 20 to 15.61%. On the other hand, the Singapore Government Investment Corporation's shareholding ratio will be 7.02%, and it seems that there is an anticipation of further buying activity in the future.

<3153> Yashima Electric 1787 +191

Sharp rise. It announced an upward revision of its performance for the 2025 fiscal year on the previous day. Operating profit was raised from the previous estimate of 4.2 billion yen to 4.6 billion yen, an increase of 18.1% compared to the previous year. Engineering projects such as power equipment installation and plant equipment maintenance and renovation for semiconductor manufacturing, air conditioning equipment projects for datacenter, and power equipment updating projects for transportation business are performing better than expected. The early upward revision has had a strong impact.

<7203> Toyota Motor 2610.5 +125.5

Significant rise. In the previous day's FOMC meeting, a 0.5% rate cut was announced, which exceeded expectations as many expected a 0.25% rate cut. However, the US stock market initially rose and then fell, and long-term US interest rates also rose, contrary to expectations. As a result of the rise in long-term US interest rates, the foreign exchange market has also shifted to a stronger US dollar and weaker yen, reducing concerns about a strong yen after a significant interest rate cut. This has boosted confidence in the purchase of automobile stocks such as this company, which benefit from a weaker yen.