I would like to pay attention to the following 3 points in the transaction before the 26th.

■Looking for dividends-oriented shopping while determining the solidity of high-tech stocks

■Oracle Japan, 1Q operating profit up 20.2% to 22.1 billion yen

■Notable materials from the front floor: Toyota accelerates decarbonization and constructs biogas plants in the UK

■Looking for dividends-oriented shopping while determining the solidity of high-tech stocks

The Japanese stock market on the 26th seems to be aware of its solidity even though it started like this after starting ahead of buying. On the 25th, the NY Dow depreciated by 293 dollars and the NASDAQ was 7 points higher in the US market. There were also scenes where people liked the upward revision of the Organization for Economic Cooperation and Development (OECD)'s global economic growth outlook, but since the NY Dow was hitting a high every day, profit determination sales became dominant thereafter. Meanwhile, one corner of semiconductor stocks was bought, and the NASDAQ index continued to rise for 3 days, albeit slightly. The Chicago Nikkei 225 futures settlement price is 37,980 yen, which is 320 yen higher than Osaka. The yen exchange rate is hovering at 144 yen 60 yen per dollar.

The Nikkei Stock Average is likely to start buying ahead of time as it moves towards Chicago futures. The NY Dow fell for the first time in 5 business days, but since NVIDIA has broken through technical resistance lines due to daily increases, it seems to be support material. Also, since Micron Technology, which announced financial results after the transaction ended, has risen close to 15% due to overtime trading, it seems that values with a large index impact such as Advantest ＜6857＞ will push them towards buying high-tech stocks.

Nikkei 225 futures ended at 38110 yen in the night session, capturing the 75-day line, which is perceived as an upper resistance line. If the same line seems to clearly rise, there is a possibility that short cover will strengthen in the futures market, and there seems to be a possibility that business involving the index will boost the Nikkei Stock Average. Also, it is thought that dividend-oriented shopping is likely to intensify as the end of the September fiscal year approaches, and it is thought that people will become aware of the stiffness of lower prices. The 75-day line of the Nikkei Stock Average is moving around 38280 yen, and it seems likely that the upward bias will intensify if this is cleared.

Tomorrow will be the day of loss of rights, and the loss is expected to be around 280 yen according to the Nikkei Stock Average. Therefore, if it seems that it ends at the 75-day line level, the milestone of 38,000 yen will be kept even when considering the falling dividend, so it seems that sentiment will brighten up. This feeling seems to intensify after a round of buying, but it seems that dividend-oriented hunting will intensify while determining the solidity of high-value high-tech stocks. Note, Lasertech ＜6920＞ has been observed to be downgraded by analysts, and they would like to determine its solidity after the first round of sales.

■Oracle Japan, 1Q operating profit up 20.2% to 22.1 billion yen

The first quarter results for the fiscal year ending 2025 announced by Oracle Japan ＜4716＞ were sales of 63.915 billion yen, up 11.4% from the same period last year, and operating profit of 22.194 billion yen, up 20.2% from the same period last year. As for the first quarter, sales, operating profit, ordinary income, and net profit all achieved record highs. Operating profit exceeds consensus (around 19.6 billion yen).

■Notable materials from the front

・The Nasdaq Composite Index rose (18082.21, +7.68)

・1 dollar = 144.50-60 yen

・Chicago Nikkei futures rose (37980, Osaka-China ratio +320)

・The SOX index rose (5132.52, +40.75)

・Expectations that US inflation will calm down

・Active share buybacks

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

・Toyota's own ＜7203＞ accelerates decarbonization and constructs biogas plant in England

・Asahi Kasei ＜3407＞ to prove biological origin of chemical raw materials and develop a production history management system

・SUBARU ＜7270 ＞DX human resource development for thousands of administrative workers

・Kansai Electric Power ＜9503＞ Zero carbon power and hydrogen co-firing thermal power at the Expo

・Marubeni ＜8002＞ India apartment complex development participation, sales boost in Pune city

・ANAHD ＜9202＞ flying cars will remain on demonstration flights at the Expo due to abandonment of commercial operations

・Hitachi ＜6501＞Hitachi Energy invests 22 billion yen in North America to increase manufacturing capacity

・External sales of TPR (6463) wear-resistant and low-friction surface treatment technology

・OSG ＜6136＞Accelerates M&A for diamond tools and pioneers fine precision machining

・Hitachi Construction Equipment ＜6305＞ collaborates with a US company to develop an electric mini excavator

・Komatsu ＜6301＞ medium drill jumbo development, compatible with tunnel diameters over 4.5 m

・Misumi G headquarters ＜9962＞ drastically shortens parts procurement time and extracts manufacturing partners with AI

・IIJ ＜3774＞ human resource development/placement support, proposals tailored to business characteristics

・Hitachi ＜6501＞ streamlines intellectual property analysis and introduces AI analysis and graph generation services to Toyota

・Mitsubishi Electric ＜6503＞ realizes plastic sorting, demonstration machine operation, and efficient reuse with electrostatic electricity

・Shimizu Corporation ＜1803＞ expressway viaduct floor version updated with 1 self-propelled device, new construction method

・Mitsubishi Estate ＜8802＞ mixed-use development in Sydney, utilization of breweries, residential and commercial area development

・Kobe Steel ＜5406＞ commercialization of low-CO2 aluminum plate products as soon as possible

☆ Front office event schedule

＜Domestic＞

・ 08:50 Bank of Japan Monetary Policy Meeting Minutes (7/30-31)

＜Overseas＞

・Nothing in particular