Advantest <6857> 8690 -70

Fell back. Today, major Semiconductor-related stocks including this company are generally under selling pressure. At the previous day's US FOMC meeting, a 0.25% rate cut was decided in line with market expectations, but the forecast for rate cuts in 2025 has been reduced to 2 times, serving as a sell signal for growth stocks. The SOX Index has declined by more than 3.8%. Moreover, Micron announced its earnings but presented sales forecasts that fell below market expectations, causing a sharp drop in Extended hours trading, negatively impacting domestic related stocks.

Seed <7743> 510 +52

It surged. Reports of a joint development of contact-type devices emerged. The micro display developed jointly by the company and Professor Takagi of Tokyo University of Agriculture and Technology is designed to be directly placed on the cornea of the eye, receiving and rendering data sent from smartphones and other devices. It can display not only text but also images, and is expected to provide functionalities such as translating heard speech into subtitles and overlaying map information on actual scenery.

Erax <9517> 570 -32

Significant continued decline. It has updated its year-to-date low since August 5th. SMBC Nikko Securities continues its investment rating at "2" and has lowered the Target Price from 860 yen to 740 yen. While the total sales electrical power is expected to exceed guidance, it is believed that the performance for the fiscal year ending March 2025 is likely to exceed guidance, but due to the decrease in customer numbers stemming from the transfer of the TiDash, it is anticipated that the fiscal year ending March 2026 will see a decrease in operating profit of 22.0% compared to the previous year.

Nitori Holdings <9843> 18675 -1065

Significantly fell back. The situation worsened further in the latter half of the trading session. In the currency market, the dollar has risen and the yen has weakened, entering the 155 yen range, leading to increased selling pressure on yen-weakness stocks. The US FOMC has decided on a 0.25% rate cut as expected, but the forecast for rate cuts next year has been revised down to 2 times a year, contributing to the dollar's strength. Additionally, the Bank of Japan's monetary policy meeting postponed a rate hike, which was as expected, but further contributed to the reasons for the dollar's strength and yen's weakness.

【1911】 Sumitomo Forestry 5205 -405

Significant decline continues. The number of housing starts in the USA for November announced the previous day was 1.28 million 9000 units, a decrease of 1.8% compared to the previous month. The market estimate was 1.34 million 5000 units, resulting in an unexpected decline. While single-family residences have shown a recovery, the drop in multi-unit residences has weighed heavily. Consequently, concerns about the future of the USA housing market are reflected in the company as well. Additionally, following the FOMC, the perception of a slowdown in the pace of interest rate cuts in the USA for next year is becoming stronger, which is also a negative factor.

【3370】 Fujita Corporation 272 +52

Soared sharply and temporarily reached a limit up. Announced the establishment of a shareholder incentive program. For shareholders holding more than 100 shares at the end of March, a 1000 yen WEB coupon will be given. The purpose of establishing the incentive is to deepen their understanding of the business by engaging with the company’s products and services, to enhance the attractiveness of investing in stocks, and to encourage many investors to hold the stock for the medium to long term. There is a proactive movement expecting an expansion of the investor base.

【4676】 Fuji HD 1858 +122.5

Significant continuation of increases. Nomura Securities has changed the investment rating from "neutral" to "buy," and raised the target price from 2010 yen to 2420 yen. The company has the highest proportion of non-terrestrial advertising revenue among the five broadcasting companies, and appears to be less affected by the mid-term decrease in terrestrial advertising revenue. The current stock price seems to not fully reflect the profit expansion accompanying the growth in non-terrestrial advertising revenue. The announcement of a quantitative target for share buyback also seems to be a point of future focus.

【5707】 Toho Lead 590 -150

Limit down. Announced a third-party allotment capital increase to raise a total of 7.5 billion yen with investment funds like Advantage Partners as underwriters. The financial condition has deteriorated due to market volatility and high-cost mining operations, and plans to improve financial stability through the capital increase as well as restructuring unprofitable businesses like withdrawing from the resource business and engaging in voluntary retirement appear to be in place. The potential dilution of voting rights is expected to be about 299.8%, leading to negative reactions.

＜3457＞ AndDo 1116 +150

Upper limit hit. A capital and business alliance with Dai-ichi Life HD has been announced. Dai-ichi Life HD is expected to hold a 15.73% investment ratio through a third-party allotment capital increase resulting from the disposal of its own shares, thereby applying the equity method. The amount of investment is undisclosed but is believed to be in the tens of billions of yen. To facilitate the disposal of its own shares, the company will implement a Share Buyback limited to 1.05 million shares, equivalent to 5.29% of the outstanding shares, with a maximum of 1.4 billion yen.

＜6412＞ Heiwa 2410 +268

Surge. It was announced that the largest golf course operator in Japan, Accordia Golf, will be acquired for 510 billion yen. The parent company's entire shares will be acquired from the USA investment fund Fortress. The acquisition funds will be fully covered by loans from the Bank, and the acquisition of shares is scheduled for the end of January 2025. Together with its subsidiaries, it is expected to become one of the largest golf course companies in the world. If the performance is summed up simply, both revenue and operating profit will be at approximately twice the current level. There are concerns about the financial burden, but there is movement to evaluate the business expansion.