＜4091＞ Nippon Sanso HD 4799 -579

Plummeting. Financial results for the first half of the year were announced the day before, and operating profit was 82.5 billion yen, up 1.1% from the same period last year, and the rate of increase slowed significantly from the same 17.8% increase in the first quarter. Impairment losses due to the cancellation of plans for hydrogen production projects have been recorded at 1.07 billion yen. Core operating income continues to be steady due to price increases and the depreciation of the yen, and it seems that sales of special gases for semiconductor manufacturing have also begun to recover, but while stock prices are in the high range, the slowdown in the operating profit rate is viewed as negative.

＜9506＞ Tohoku Electric Power 1320 -184.5

Plummeting. Financial results for the first half of the year were announced the day before, and ordinary profit was 153.4 billion yen, down 30.0% from the same period last year, and the rate of decline increased from the same 20.3% decrease in the first quarter. The decrease in profit margin due to the impact of the time lag of the fuel cost adjustment system was a factor in the decline in profit. The full-year forecast is 190 billion yen, which is a 34.9% decrease from the previous fiscal year, and it seems that they are considering temporary discounts on electricity charges. There were no major financial surprises, and while expectations were spreading to other electricity accounts, it seems that negative reactions have prevailed.

＜6504＞ Fuji Electric 8319 +369

Massive backlash. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 23.1 billion yen, up 13.5% from the same period last year, and market expectations were shaken by about 2.5 billion yen. The full-year forecast was revised upward from the previous year's 109 billion yen to 111.5 billion yen, an increase of 5.1% from the previous fiscal year. It is still below the consensus level, but the situation is conservative and leaves room for sales fluctuation due to exchange assumptions, etc. We anticipate an upturn in the industry and food distribution business due to increased demand for plant systems.

＜7148＞ FPG 2660 +285

rapid expansion. Financial results for the fiscal year ended 24/9 were announced the day before, and operating profit was 28.6 billion yen, up 56.8% from the previous fiscal year, up 25.6 billion yen, which was revised upward at the time of the 3rd quarter financial results. Along with this, the year-end dividend was also increased from the previous plan of 67.1 yen to 81.55 yen. Operating income for the fiscal year ending 25/9 is 31.7 billion yen and is expected to increase 10.7% from the same period and a 2-digit increase. The annual dividend is planned to be 130.4 yen, an increase of 10.1 yen from the previous fiscal year. A stock buyback was also announced, with an upper limit of 1 million shares and 2 billion yen.

＜4062＞ IBIDEN 4668 -301

The sharp decline continued. Financial results for the 2nd quarter were announced the day before, and operating profit for the July-9 fiscal year was 17.2 billion yen, up 8.3% from the same period last year, and market expectations were shaken by about 4 billion yen. The first half of the year was 28.5 billion yen, which is significantly higher than the company plan of 19 billion yen, but the full-year forecast was revised downward from the previous 42 billion yen to 40 billion yen. It seems that they are expecting a slowdown in earnings in the second half of the electronics segment in anticipation of new plant start-up costs, etc. Movements that negatively capture future deterioration in momentum are dominant.

＜6752＞ PanaHD 1343.5 +105.5

Massive backlash. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year ended was 132.3 billion yen, up 29.1% from the same period last year, surpassing market expectations by nearly 25 billion yen. The full-year forecast was 380 billion yen, a 5.3% increase from the previous fiscal year, and since there was a high possibility of a downward revision in the market, the positive view prevailed. It seems that the energy business is doing better than expected due to expansion to AI data centers, etc.

＜6503＞ Mitsubishi Electric 2726 +338.5

rapid expansion. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 118 billion yen, up 57.7% from the same period last year, exceeding market expectations by about 40 billion yen. The full-year forecast is 400 billion yen, an increase of 21.8% from the previous fiscal year, but since there were concerns about downward revisions, a positive impact prevailed on financial results, which included an upward trend. Profitability improvements for air conditioners and home appliances have been more than expected, and profit margins for FA systems, which were a concern, have also improved drastically.

＜6920＞ Lasertec 19615 -3860

Plummeting. Financial results for the first quarter were announced the day before, and operating profit was 15.9 billion yen, up 54.9% from the same period last year, but market expectations fell close to 10 billion yen. The full year forecast of 104 billion yen remained unchanged. It seems that there have been no cancellations or extensions of orders that were feared due to ASML's reduction in the outlook for the next fiscal year, but it seems that inquiries between ACTIS and MATRICS etc. have slowed slightly. Furthermore, disclosure of quarterly order volume, order balance, etc. has been abolished from this fiscal year.

＜6526＞ Socionext 2485.5 -436.5

Plummeting. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 5.29 billion yen, down 38.2% from the same period last year, and a 48.5% decrease compared to the previous quarter. The full-year forecast remains unchanged at 27 billion yen, down 24.0% from the previous fiscal year, but in reality, excluding exchange effects, it is about 10% lower than the initial forecast. Compared to initial forecasts, sales declined in the data center network field, and it seems that the market for China will be mainly sluggish by region.

＜6702＞ Fujitsu 2695-268

The sharp decline continued. Financial results for the 2nd quarter were announced the day before, and operating income for the July-9 fiscal year was 35 billion yen, down 24.6% from the same period last year, falling below market expectations of around 60 billion yen. The full-year forecast was revised downward from the previous 330 billion yen to 310 billion yen. Early desired retirement recruitment costs were recorded at approximately 20 billion yen in the second quarter, and although this was a downside factor, it seems that the view that it was slightly disappointing became dominant. There seems to be a view that orders and sales for regions were also sluggish than expected.