I would like to pay attention to the following 3 points in the 3-day advance transaction.

■Amid the trend of depreciation of the yen, there is a strong desire to buy in anticipation

■Seibu HD, 25/3 upward revised operating profit 45 billion yen ← 40 billion yen

■Notable materials from the front: Harmonic, mass production of speed reducers for humanoid robots, strategic investment of 10 billion yen

■Amid the trend of depreciation of the yen, there is a strong desire to buy in anticipation

In the Japanese stock market on the 3rd, there is a possibility that this feeling will intensify after the first round of buying, but it is expected that the market will develop with a strong desire to buy. The NY Dow rose by 39 dollars and the NASDAQ was 14 points higher in the US market on the 2nd. Expectations for drastic interest rate cuts receded in response to ADP employment statistics that exceeded expectations, and there were also situations where they weakened. However, improvements in the economy and employment prospects led to a sense of security, and thereafter, there was a trend of buybacks centered around the semiconductor sector. The Chicago Nikkei 225 futures settlement value is 38665 yen, which is 915 yen higher than Osaka. The yen exchange rate is hovering in the 146-yen 50 yen range per dollar.

The Nikkei Stock Average is likely to start before buying, in the form of falling in favor of Chicago futures. Significant interest rate cut observations have receded in response to ADP employment statistics, and Prime Minister Ishiwari and Bank of Japan Governor Ueda had their first meeting last night, and since they expressed the view that there is no environment where additional interest rates will be raised, the depreciation of the yen progresses to the middle of the 1 dollar = 146 yen range in the exchange market. The fact that it has surpassed the depreciation level of the yen set in the Takaichi trade in the presidential election last weekend, which seems to lead to a sense of security.

Nikkei 225 futures had a long advantage with a low price of 37780 yen in the night session, and there was also a scene where they were bought up to 38740 yen at one point until the end of the session. It has almost filled up the drastic decline the day before, and it seems that the buyback movement on the seller side will intensify. There seems to be a high possibility that the sense of stalemate will gradually intensify after the first round of buying, but amid the depreciation trend of the yen, there is probably a strong desire to buy in anticipation. It is difficult to face aggressive upward price tracking movements due to heightened geopolitical risks surrounding the situation in the Middle East, and there seems to be a risk that it will be greatly shaken by related reports, but it will be difficult to set up sales.

Yesterday's Nikkei Stock Average began breaking the 75-day line, then broke through the 200-day line due to weak price movements thereafter, and was sold to the 25th line level. On the 25th, while the 200-day line level is recognized as a support line, if it seems to rise above the 75-day line again, it is likely to lead to an improvement in sentiment. It seems that there is a possibility that people will be aware of the movement to fill in the hidden line part (37797-39126 yen) at the beginning of the week.

As for shopping, it is expected that high-tech stocks will rise due to values that have a large index impact from taking over the trend of the United States. Also, it is easy for people to continue to be aware of looking for trading company stocks due to Mr. Buffett's speculation about buying Japanese stocks, and it is also expected that funds will flow into export-related matters due to the depreciation of the yen.

■Seibu HD, 25/3 upward revised operating profit 45 billion yen ← 40 billion yen

Seibu HD ＜9024＞ announced revisions to its earnings forecast for the fiscal year ending 2025/3. Sales were revised upward from 489 billion yen to 494 billion yen, and operating profit was revised upward from 40 billion yen to 45 billion yen. SRS, which is a consolidated subsidiary, resolved to additionally acquire shares of NW, and in addition to profit and loss effects such as occurrence of special profits (negative goodwill gains and differences related to phased acquisitions) due to additional acquisitions, earnings forecasts were revised based on current conditions, etc.

■Notable materials from the front

・The NY Dow rose (42196.52, +39.55)

・The Nasdaq Composite Index rose (17925.12, +14.76)

・1 dollar = 146.70-80 yen

・Chicago Nikkei futures rose (38665, +915 compared to Osaka)

・The SOX index rose (5099.20, +74.26)

・The VIX Index declined (18.90, -0.36)

・US crude oil futures rose (70.10, +0.27)

・Expectations that US inflation will calm down

・Active share buybacks

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

・Harmonic＜6324＞ mass production of speed reducers for humanoid robots, strategic investment of 10 billion yen

・GL Techno ＜255A＞ quartz glass for semiconductor devices returns to Japan, successive new plants

・Mitsui Fudosan ＜8801＞Nippon Steel Kowa Real Estate and a large logistics facility in Itabashi, Tokyo

・Sony G ＜6758＞ Pink Floyd music rights acquired for 58 billion yen

・IDEC ＜6652＞ launches an easy safety control device, no program required

・Syfuse ＜4892＞ Utilizes New Technology and Additive Manufacturing for Regenerative Medicine Automation with NSK

・Seiko Giken (6834) acquired MG and expanded sales of automotive and medical molded products

・Glory ＜6457＞ Showcase Gig becomes a subsidiary

・Dexerials ＜4980＞starts construction of a new plant in Kanuma, Tochigi

・Fujifilm 4901 Group's business innovation acquires US company's Oceania business

・TDK ＜6762＞ device development, power consumption of AI processing 1/100, to mass production in 30 years

・Tamura Seisakusho ＜6768＞ transformers reduced by 50% for EV quick chargers

・Yashima Electric (3153) acquires Tokyo Kiden and expands power supply system business

・Nankai Chemical ＜4040＞ increased production of highly exposed powder, for sterilization, and expansion to Southeast Asia

・Nippon Denko ＜5563＞Strengthening shareholder returns and eliminating the effects of short-term profit fluctuations

・Haseko ＜1808＞Solidification of construction sludge with bamboo chips, technology development

・Formulation of 90% of geopolymer concrete development and industrial by-products with Kobe Steel ＜5406＞Shimizu Corporation, etc.

・Kanto Denka Kogyo ＜4047＞Sumitomo Mine evaluates lithium battery recycling materials

・Mitsui Chemicals ＜4183＞Osaka Plant Restarts Ethylene Plant

・Nippon Zeon (4205) evolved into a research and development factory and revamped Kawasaki

・Sumitomo Bakelite ＜4203＞ mass production of semiconductor encapsulants

☆ Front office event schedule

＜Domestic＞

・ 10:30 Bank of Japan deliberation committee member Noguchi greetings

＜Overseas＞

・ 10:30 Australia/August trade balance (forecast: +5.5 billion Australian dollars, July: +6.009 billion Australian dollars)