Tokyo Market Open: Nikkei Average Surges Sharply on Expectations of Aggressive Fiscal Policy and Higher European and US Stocks SoftBank G Up 7%, Driven by ChatGPT Growth Rate Exceeding 10% Fujikura in Strong Buying Mood After Announcing ¥5.6 Billion Investment in Fusion-Related Wires Ebara Jitsugyo Jumps 15% Following Dividend Hike Plan and Share Buyback
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Here is a summary of this morning's opening. Thank you for your attention.
Market Overview
The Tokyo stock market started with strong buying on the 10th, with the Nikkei Average at the opening up 448 yen from the previous trading day to 56,812 yen, continuing its upward trend.
Following the Liberal Democratic Party's major victory in the House of Representatives election, the Nikkei Average saw a record surge yesterday amid expectations that the Sanae Takaichi administration would push forward aggressive fiscal policies. Today also remains bullish as short-term profit-taking is absorbed amid a risk-on mood. European stocks were mostly higher yesterday, and tech-heavy US stocks including semiconductor shares rose, strengthening bullish sentiment. However, the rapid progression of a weaker dollar and stronger yen in the foreign exchange market could lead to unstable price movements, which may impact the stock market along with long-term interest rate trends.
The Tokyo stock market started with strong buying on the 10th, with the Nikkei Average at the opening up 448 yen from the previous trading day to 56,812 yen, continuing its upward trend.
Following the Liberal Democratic Party's major victory in the House of Representatives election, the Nikkei Average saw a record surge yesterday amid expectations that the Sanae Takaichi administration would push forward aggressive fiscal policies. Today also remains bullish as short-term profit-taking is absorbed amid a risk-on mood. European stocks were mostly higher yesterday, and tech-heavy US stocks including semiconductor shares rose, strengthening bullish sentiment. However, the rapid progression of a weaker dollar and stronger yen in the foreign exchange market could lead to unstable price movements, which may impact the stock market along with long-term interest rate trends.
Top News
SoftBank G - Shares rise sharply for the third consecutive day as ChatGPT's monthly growth rate reportedly returns to over 10%
$SoftBank Group (9984.JP)$ Continuing its sharp rise for the third consecutive day. CNBC, the US financial media outlet, reported on the 9th local time that Sam Altman, CEO of OpenAI, told employees that the generative AI 'ChatGPT' has returned to a state of over 10% monthly growth rate.
SoftBank G - Shares rise sharply for the third consecutive day as ChatGPT's monthly growth rate reportedly returns to over 10%
$SoftBank Group (9984.JP)$ Continuing its sharp rise for the third consecutive day. CNBC, the US financial media outlet, reported on the 9th local time that Sam Altman, CEO of OpenAI, told employees that the generative AI 'ChatGPT' has returned to a state of over 10% monthly growth rate.
This appears to have been revealed through an internal Slack message viewed by CNBC. He also reportedly mentioned preparing to release an 'updated chat model' within this week.
Amid growing expectations for OpenAI's growth, the company, which has made substantial investments, is seeing buying interest.
Fujikura - Buy signal as the company plans to boost production of fusion-related wires with a 5.6 billion yen investment
$Fujikura (5803.JP)$ Fujikura shows buying interest. The company announced on the 9th that it has decided to invest 5.6 billion yen in equipment to boost production of high-temperature superconducting wires, which are expected to see increased demand due to advancements in nuclear fusion energy development, ensuring a stable supply system for the future.
$Fujikura (5803.JP)$ Fujikura shows buying interest. The company announced on the 9th that it has decided to invest 5.6 billion yen in equipment to boost production of high-temperature superconducting wires, which are expected to see increased demand due to advancements in nuclear fusion energy development, ensuring a stable supply system for the future.
The company plans to execute an investment of approximately 6 billion yen in the fiscal year 2024, expanding its factory so that production capacity for high-temperature superconducting wires will increase to about 3-4 times by fiscal year 2027. With this additional investment, production capacity is expected to further expand by about 2 times. The production capacity for high-temperature superconducting wires is set to be raised to one of the largest scales globally.
Ebara Corporation surged to a new high as it announced record profits and an effective dividend increase plan for the fiscal year ending December 2026, along with a share buyback program.
$EBARA JITSUGYO (6328.JP)$ Shares sharply rose, hitting a new high since listing. Following the close of trading on the 9th, the company released its consolidated financial results for the fiscal year ending December 2025 and provided an earnings forecast for the fiscal year ending December 2026. This period’s revenue is projected to grow 6.8% from the previous term to 44 billion yen, with net profit increasing 2.6% to 4.5 billion yen, marking another consecutive record-breaking profit. The annual dividend forecast was set at 75 yen. Last term's dividend was 60 yen post-stock split, indicating an effective increase in dividends. Additionally, a share buyback plan was disclosed, involving up to 600,000 shares (2.52% of issued shares excluding treasury stock) at a maximum cost of 1 billion yen. These announcements have driven buying interest.
$EBARA JITSUGYO (6328.JP)$ Shares sharply rose, hitting a new high since listing. Following the close of trading on the 9th, the company released its consolidated financial results for the fiscal year ending December 2025 and provided an earnings forecast for the fiscal year ending December 2026. This period’s revenue is projected to grow 6.8% from the previous term to 44 billion yen, with net profit increasing 2.6% to 4.5 billion yen, marking another consecutive record-breaking profit. The annual dividend forecast was set at 75 yen. Last term's dividend was 60 yen post-stock split, indicating an effective increase in dividends. Additionally, a share buyback plan was disclosed, involving up to 600,000 shares (2.52% of issued shares excluding treasury stock) at a maximum cost of 1 billion yen. These announcements have driven buying interest.
Driven by a high level of backlog orders, revenue growth is anticipated. Orders are also expected to increase in key focus areas such as 'Disaster Prevention & Mitigation,' 'Storage Batteries,' and 'Aquaculture.' Large-scale projects related to land-based aquaculture equipment are expected to boost the water treatment plant sector. For the fiscal year ending December 2025, revenue increased by 9.9% from the prior period to 41.211 billion yen, and net profit grew by 38.8% to 4.384 billion yen, surpassing initial forecasts. The share repurchase period runs from February 10 to August 31.
Nintendo - SBI lowers target share price; while memory pricing trends are discussed, emphasizing broader perspectives remains crucial.
$Nintendo (7974.JP)$ Shares continued to rise. SBI Securities maintained their 'Buy' investment rating but lowered the target share price from 17,450 yen to 15,900 yen, citing that while memory pricing trends are topical, focusing on the bigger picture is essential.
$Nintendo (7974.JP)$ Shares continued to rise. SBI Securities maintained their 'Buy' investment rating but lowered the target share price from 17,450 yen to 15,900 yen, citing that while memory pricing trends are topical, focusing on the bigger picture is essential.
Considering recent developments, SBI adjusted their forecasted operating income figures: 378 billion yen for fiscal year 26.3 (previously 420.3 billion yen) and 539.4 billion yen for fiscal year 27.3 (previously 598.8 billion yen).
In determining the target share price, given the rising market valuation of the company’s intangible assets (content), SBI applied the same PER multiple of 42.2 times based on actual performance for fiscal year 25.3. Some institutional investors have recently noted that exceeding 40 times might be somewhat high. However, Nintendo Switch 2 sales are performing well, and the recent stock price correction is likely due to some funds shifting towards AI-related stocks. SBI believes there is no significant change to the company’s growth scenario.
Mercari - Shares indicate strong buying interest following a 73% increase in first-half operating profit and upward revision of full-year core operating profit.
$Mercari (4385.JP)$ Buying momentum observed. On the 9th, the company announced that consolidated operating profit (IFRS) for the first half of fiscal year 2026 (July-December) reached 19.8 billion yen, a 73.3% increase year-on-year, surpassing market consensus of 17.8 billion yen.
$Mercari (4385.JP)$ Buying momentum observed. On the 9th, the company announced that consolidated operating profit (IFRS) for the first half of fiscal year 2026 (July-December) reached 19.8 billion yen, a 73.3% increase year-on-year, surpassing market consensus of 17.8 billion yen.
Cross-border transactions on the Marketplace expanded, and a large-scale campaign conducted in December pushed up the total transaction volume. In the fintech business, growth in payment and credit balances, mainly through 'Merucado,' also contributed to this increase.
Accordingly, the full-year core operating profit forecast for fiscal year 26.6 has been raised from the previous range of 28 billion yen to 32 billion yen to a new range of 32 billion yen to 36 billion yen (a year-on-year increase of 16.1% to 30.6%). The earlier-than-expected contribution to earnings from strengthening the core experience of products in the Marketplace is expected to exceed the previous forecast. The operating profit forecast remains unchanged. Core operating profit is calculated by deducting other income and expenses from operating profit.
Kyoei Maintenance - Sharp Drop; 3Q Cumulative Operating Profit Up 7%, Below Consensus
$Kyoritsu Maintenance (9616.JP)$ The stock price plummeted. On the 9th, the company announced that its consolidated operating profit for the third quarter cumulative period (April-December) of fiscal year 26.3 was 19.01 billion yen (a year-on-year increase of 6.6%). The market consensus was 19.9 billion yen.
$Kyoritsu Maintenance (9616.JP)$ The stock price plummeted. On the 9th, the company announced that its consolidated operating profit for the third quarter cumulative period (April-December) of fiscal year 26.3 was 19.01 billion yen (a year-on-year increase of 6.6%). The market consensus was 19.9 billion yen.
Hotel operations have been performing at high occupancy rates and premium pricing due to increased lodging demand driven by the Osaka-Kansai Expo and the rise in the number of visitors to Japan.
<Special Quotes> SBG, Fujikura, and IHI are showing buying interest.
As of 9:03:38 AM on February 10, there are 60 special buy orders and 18 special sell orders.
It surged sharply the day before. $SoftBank Group (9984.JP)$ Today, it again gathered top buy orders totaling 18.8 billion yen (sell orders were 6.3 billion yen), raising the special buy quote. $Furukawa Electric (5801.JP)$ There are also substantially more buy than sell orders, raising the possibility that the stock could be bought up to its upper limit price.
In addition, $Fujikura (5803.JP)$や $IHI (7013.JP)$ 、 $Recruit Holdings (6098.JP)$ 、 $Sumitomo Electric Industries (5802.JP)$ This stock is also moving to a special buying quote.
On the other hand, following a sharp rise the previous day, $Dexerials (4980.JP)$ In contrast, today it accumulated the highest sell orders of 2.16 billion yen (buy orders were 450 million yen), lowering the special sell quote. $Rikei (8226.JP)$や $Chemipro Kasei Kaisha (4960.JP)$There are also significantly more sell orders than buy orders, raising the possibility that it could be sold down to its daily limit in a bearish streak.
In addition, $Kyoritsu Maintenance (9616.JP)$や $Systems Engineering Consultants (3741.JP)$ 、 $ZIGExN (3679.JP)$ This stock is also shifting to a special selling quote.
As of 9:03:38 AM on February 10, there are 60 special buy orders and 18 special sell orders.
It surged sharply the day before. $SoftBank Group (9984.JP)$ Today, it again gathered top buy orders totaling 18.8 billion yen (sell orders were 6.3 billion yen), raising the special buy quote. $Furukawa Electric (5801.JP)$ There are also substantially more buy than sell orders, raising the possibility that the stock could be bought up to its upper limit price.
In addition, $Fujikura (5803.JP)$や $IHI (7013.JP)$ 、 $Recruit Holdings (6098.JP)$ 、 $Sumitomo Electric Industries (5802.JP)$ This stock is also moving to a special buying quote.
On the other hand, following a sharp rise the previous day, $Dexerials (4980.JP)$ In contrast, today it accumulated the highest sell orders of 2.16 billion yen (buy orders were 450 million yen), lowering the special sell quote. $Rikei (8226.JP)$や $Chemipro Kasei Kaisha (4960.JP)$There are also significantly more sell orders than buy orders, raising the possibility that it could be sold down to its daily limit in a bearish streak.
In addition, $Kyoritsu Maintenance (9616.JP)$や $Systems Engineering Consultants (3741.JP)$ 、 $ZIGExN (3679.JP)$ This stock is also shifting to a special selling quote.
Source: MINKABU, Trader's Web, Fisco, Stock Newspaper, Jiji Press
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