＜6920＞ Lasertec 21345 -175

Continued decline. Taiwan TSMC announced financial results the day before, and the content led to a sense of security for semiconductor-related stocks, such as raising sales forecasts, etc., but the rise in the US SOX index was limited, and the return of ASML, which had recently been drastically low, has also been slow. Domestic semiconductor-related matters are also generally on the negative side, such as the company, Advantest, Tokyo Elec, and SCREEN. As the US presidential election approaches, it seems that concerns about the continued strengthening of semiconductor regulations against China cannot be wiped away.

＜4578＞ Otsuka HD 9049 +295

Significant continued growth. Jeffries Securities continued the “buy” investment decision and raised the target stock price from 9700 yen to 10500 yen. It is evaluated that it has taken the lead in IgAN (immunoglobulin nephropathy), which is a rare disease market on a scale of several billion dollars, and is attracting attention from pharmaceutical investors around the world. Also, it seems that capital efficiency and strengthened shareholder returns are also viewed positively. Evaluations of major products and pipeline assets have been raised, and it seems that operating profit forecasts for the current fiscal year and beyond have been revised upward by an average of 7%.

＜262A＞ Intermastic 1981

Today, it was newly listed on the Prime market, and the initial price was set at 2038 yen, which is 25% above the public price of 1630 yen, and then it developed a slight sales advantage. The company manufactures and sells eyeglass lens frames and sunglasses. In addition to introducing the SPA system to the eyeglass business for the first time in Japan, collaboration with Disney began for the first time in the domestic eyewear industry in 2013. It has been directly listed on Prime since KOKUSAI, which was listed in 23, and this month it was the largest increase rate of increase in the public offering price ratio among the 5 IPOs.

＜4174＞ Philits 794 +59

Significant continued growth. It has been announced that it will acquire 0.15 million shares, which is 3.63% of the number of issued shares, and treasury stock up to 0.18 billion yen. The acquisition period is from 10/18 to 25/1/31. It seems that the current share repurchase was decided as a flexible capital policy aimed at improving shareholder profits. It is said that if the acquired shares are not expected to be used, they will be written off at an appropriate time. The company's share buybacks began when it acquired an upper limit of 0.05 million shares over 23/11.

＜2975＞ Star Mica Holdings 656 +32

Significant continued growth. It was announced that it will acquire 0.36 million shares, which is 1.08% of the number of issued shares, and treasury stock up to 0.2 billion yen. The acquisition period is from 10/18 to 11/30. The purpose of acquisition is to implement a full return of profits to shareholders while comprehensively considering financial conditions and stock price levels, etc., using a total return ratio of 40% as an index. A stock repurchase with an upper limit of 0.1 billion yen has just been completed over 10/11, and it will be a form of additional stock buybacks.

＜6146＞ disco 38310 +2730

backlash. Second quarter financial results were announced the day before. Operating profit for the fiscal year ending 7/9 was 42.6 billion yen, up 51.6% from the same period last year, and it landed above the level estimated from the individual sales bulletin announced on 10/4. The improvement in gross profit margin was more than expected, and it seems that it also led to stock price evaluation materials. Meanwhile, the forecast for the fiscal year ending October to December is 29.2 billion yen, which is about 15 billion yen lower than the market forecast, but it was viewed as conservative as before.

＜6787＞ Meiko 5950 +170

Massive backlash. At Morgan Stanley MUFG Securities, the investment decision was newly “overweighted,” and the target stock price was set at 7600 yen. It seems that they have determined that the two changes in the printed circuit board market, de-Chineseization of the supply chain and growing demand for in-vehicle build-up boards, will be a tailwind. It seems that it is expected that results of implementing active investments to expand production capacity will be shown based on a clear eye that captures market trends.

＜6849＞ Nihon Kohden 2227 +147.5

Massive backlash. A revised earnings forecast was announced the day before. Operating income for the first half of the year was revised upward from the previous forecast of 3 billion yen to 5 billion yen, while net profit was revised downward from 1.5 billion yen to 0.5 billion yen. Since sales of AEDs were strong in the PAD market, domestic sales have exceeded expectations. Meanwhile, when exchange losses are recorded, ordinary income or less is in the form of a downward revision. Since there was an operating deficit in the first quarter, movements that positively viewed the rapid recovery of the main business base took precedence.

＜4443＞ Sansan 2347 +172

Significant continued growth. Nomura Securities has upgraded investment decisions from “neutral” to “buy,” and the target stock price has also been raised from 2,500 yen to 2700 yen. Stock prices softened in response to weak operating profit and loss in the first quarter, but fundamentals shown by adjusted operating income etc. remained strong, and it seems that earnings forecasts were revised upward mainly due to improvements in gross profit margins. An operating surplus is expected from the 2nd quarter onwards, and it seems that stock prices are expected to enter a phase incorporating medium- to long-term growth potential.

＜3498＞ Kasumigaseki Capital 14940 -1160

The sharp decline continued. The issuance of Euro yen CB maturing 2029 was announced. The total amount of corporate bonds was determined to be 22 billion yen, and the conversion value was determined to be 17710 yen, and the increase rate at the previous day's closing price was 10.00%. The allotment date for stock acquisition rights is 11/5, and the exercise period is from 11/19 to 29/10/22. The potential dilution rate due to the current financing was 12.63%, which seems to have led to sales materials. Furthermore, it seems that the funds raised will mainly be development land acquisition funds, development funds, and property acquisition funds.