I would like to pay attention to the following 3 points in the transaction before 5/1.

■Mainly searching using financial results as clues

■Japan Post, 24/3 upward revised ordinary income 660 billion yen ← 62 billion yen

■Notable materials from the front: Nissan's own, low-cost inverter development, equipped with general-purpose semiconductors

■Mainly searching using financial results as clues

The Japanese stock market on the 1st is likely to develop in a market where it is easy for a sense of stalemate to gradually intensify after starting ahead of sales. In the US market on April 30, the NY Dow depreciated by 570 dollars and the NASDAQ depreciated by 325 points. Since the US employment cost index for the January-March fiscal year grew more than expected, sales dominance developed due to a retreat in expectations of interest rate cuts. Wage inflation is deep-seated, and long-term interest rates have risen due to concerns that high inflation will last longer than expected. Since the Chicago Purchasing Department Association Business Index and Consumer Confidence Index for April, which were announced later, fell far below expectations, concerns about stagflation were also rekindled, and the decline widened. Chicago Nikkei 225 futures are 38165 yen, 305 yen lower than Osaka. The yen exchange rate is moving in the 70 yen range of 157 yen per dollar.

It seems that sales will start ahead of time in the form of falling in favor of Chicago futures. Nikkei 225 futures were sold up to 38090 yen during the night session, and it was a battle against the 75-day line level, which had risen the day before. If it seems that the same line is clearly being devalued, there is a possibility that downward bias will intensify due to futures leadership, but it is easy to be aware of the movement of gas removal after passing the US Federal Open Market Committee (FOMC), and buying motivation to wait for a push seems strong.

Also, in the short term, it would be easy to enter into sales gimmicks, but in addition to being in the valley of consecutive holidays, financial results announcements may peak after the consecutive holidays, so it seems that they will move towards buybacks at an early stage. The Nikkei Average is likely to break through the 75-day line, but if solidity above 38,000 yen is seen, I would like to keep in mind that sentiment will cool down. While movements that actively tilt positions are limited, searching using financial results as clues will take center stage.

When financial results were announced last night, JR East ＜9020＞, JR Tokai ＜9022＞, T&DHD ＜8795＞, JR West ＜9021＞, Hokuriku Electric Power ＜9505＞, Western Can HD ＜5901＞, Suzuken ＜9987＞, Mitsubishi Kura ＜9301＞, Nabtesco ＜6268＞, Sumitomo Hayashi ＜1911＞, ZOZO ＜3092＞, etc. are attracting attention. Also, in response to weak price movements in US high-tech stocks, it seems that high-value high-tech stocks etc. will be difficult to handle, and it seems that TOPIX type advantage will develop relatively from value stock shifts.

■Japan Post, 24/3 upward revised ordinary income 660 billion yen ← 62 billion yen

Japan Post (6178) announced revisions to its earnings forecast for the fiscal year ending 2024/3. Ordinary income was revised upward from 10.86 trillion yen to 11.98 trillion yen, and ordinary profit was revised upward from 62 billion yen to 660 billion yen. Profits from Japan Post Bank and Kanpo Life Insurance, which are under its umbrella, have improved. Both ordinary income (about 10.85 trillion yen) and ordinary profit (about 650 billion yen) exceed consensus.

■Notable materials from the front

・The Nikkei Average rose (38405.66, +470.90)

・1 dollar = 157.60-70 yen

・Expectations that US inflation will calm down

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

・Nissan's own ＜7201＞ low-cost inverter developed and equipped with general-purpose semiconductors

・Ono Pharmaceutical (4528) acquires rice companies for 370 billion yen and enhances cancer development

・Tohoku Electric Power Company ＜9506＞ strategic investment of 300 billion yen, policy for business development, finance, and management

・BIPROGY ＜8056＞ new mid-term budget, growth investment 70 billion yen, M&A acceleration

・Hitachi Zosen ＜7004＞Accelerating biogas plant development in Europe

・Sumitomo Mining ＜5713＞ participated in Australian nickel development with Mitsubishi Corporation to expand demand for EVs

・Chugoku Electric Power ＜9504＞Shimane Nuclear Power Plant Unit 2 restart postponed to December

・Mitsubishi's own ＜7211＞ new model, safety 5 stars, Australia/NZ evaluation “ANCAP”

・Hitachi ＜6501＞ acquires German robot SI for 12 billion yen to strengthen global expansion

・Wacom ＜6727＞ launches the thinnest and lightest OLED pen tablet

・Kyoei Steel ＜5440＞ global three-pronged system, new mid-term account, ordinary profit increased 18%

・Metawater ＜9551＞ new mid-term budget, sales of 200 billion yen for the fiscal year ending 28/3, increase in large-scale projects due to water supply and sewerage

・Kobe Steel ＜5406＞ aluminum product processing fee increase

☆ Front office event schedule

＜Domestic＞

・Nothing in particular

＜Overseas＞

・ 07:45 NZ · Unemployment rate for the fiscal year ending January to March (forecast: 4.2%, 10-12:4.0%)

・ 07:45 NZ · increase or decrease in the number of employees for the January-March fiscal year (forecast: +0.3% compared to the previous fiscal year; +0.4% for the 10-12 fiscal year)