Tokyo Market Summary: Nikkei Average Continues to Grow Significantly, Will Japan's Currency Authorities Implement Undercover Interventions? Check tonight's Bank of Japan Current Account Forecast　

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Whether the Japanese currency authorities will carry out undercover intervention will be confirmed with tonight's Bank of Japan current account forecast
There is growing observation that the Japanese currency authorities may have carried out undercover exchange intervention in the foreign exchange market on the 29th. On the same day, the yen exchange rate plummeted to the 1 dollar = 160 yen level for the first time in 34 years, then suddenly rebounded to the 154 yen level at one point. If the predicted value of the Bank of Japan current account for 5/1 announced by the Bank of Japan on the evening of the 30th deviates greatly (deviates) from the estimated value of the market, it may be proof that the intervention has been implemented.
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A sense of crisis over the sharp fall in yen plus the far rise in real wages plus import prices
Toyota's stock price continued to rise, and interventional observations also fell again to the 156 yen range

The Nikkei Stock Average is in the 48,800 yen range at the end of the year, Mr. Iwasaki of Mito Securities
The Nikkei Average has risen drastically since the beginning of the year, but profit-taking sales prevailed in April, and it has remained at a level below the milestone of 40,000 yen. The Nikkei Average showed more strength than expected from January to March, and Japanese stocks have recovered to a level that cannot be said to be undervalued. Expansion of corporate performance is essential in order to attract investment sustainably. Overseas investors, mainly large companies, are paying attention to room for shareholder returns such as dividends and share buybacks. The depreciation of the yen is currently progressing, but there is also a sense of caution against exchange intervention by the authorities, and there is a high possibility that the yen will appreciate in the future. Retail companies and the like can expect cost reductions at the time of purchase. The expansion of spending through bonus payments over the summer is also likely to be a tailwind for domestic demand stocks. It is estimated that there is room for it to rise again to the 48,800 yen range, which is the highest price until the end of the year.

Eight Toyota companies are wary of “price cuts, price cuts” Chinese EVs
$Toyota Motor(7203.JP)$Eight major affiliated companies have announced consolidated financial results for the fiscal year ending 2024/3. The heads of each company at the press conference raised voices showing a sense of caution against rising Chinese electric vehicle (EV) manufacturers. Meanwhile, there are many opinions that automobile production will maintain a high level. Responding to increased labor costs and being able to rebuild the workplace culture to prevent quality issues also hold the key to future performance.

Semi-major and mid-sized securities settlement, significant increase in profit across the board due to stock appreciation - Oka Sansho G increased 25 times
The financial results for the fiscal year ending 2024/3 for the main semi-major and mid-cap securities came out on the 30th. In addition to the expansion of commission fees against the backdrop of a booming stock market, trading profit and loss also improved. There was a significant increase in profit across the board for each company. It was announced on the same day $Tokai Tokyo Financial Holdings(8616.JP)$The net profit of is 10.2 billion yen, 5.2 times the previous fiscal year, $Ichiyoshi Securities(8624.JP)$It was 1.9 billion yen, 2.5 times the same amount. The Nikkei Average hit an all-time high for the first time in 34 years after the bubble economy burst in February. In March, transactions became active, such as temporarily exceeding the 40,000 yen mark, and these changes in the market environment boosted the profits of each company.

Notable stocks
Hitachi stocks have been high since listing, increased operating profit this fiscal year, and stock buybacks and splits
$Hitachi(6501.JP)$Significant growth continues. It rose to 10,5080 yen, which was 11.91% higher at one time, and a high listing price based on considerations such as stock mergers was added. On the 26th, it was announced that adjusted operating profit for the consolidated financial results for the fiscal year ending 2025/3 (current fiscal year) is expected to increase 13% from the previous fiscal year to 855 billion yen. It exceeds the QUICK consensus market forecast of 839.8 billion yen (14 companies, as of the 24th). Company stock buybacks and stock splits have also been announced, and favorable purchases have been gathered.

Sumitomo Chemical's final deficit of 312 billion yen for the fiscal year ending March 24 is the largest ever
$Sumitomo Chemical(4005.JP)$It was announced on the 30th that consolidated final profit and loss (international accounting standards) for the fiscal year ending 2024/3 was in deficit of 312 billion yen (surplus of 6.9 billion yen in the previous fiscal year). Conventionally, a final deficit of 245 billion yen was expected, but the deficit widened by 67 billion yen. It is a consolidated subsidiary $Sumitomo Pharma(4506.JP)$To record impairment losses due to pharmaceutical patent rights, etc. This is the largest deficit ever.
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Sumitomo Chemical to cut approximately 4,000 people domestically and internationally - restructuring and business sale due to poor business performance

MOL expands back office growth, and operating profit is expected to increase 47% for the fiscal year ending March 25
$Mitsui O.S.K. Lines(9104.JP)$The range of improvements in the backfield is expanding. According to the consolidated earnings forecast for the fiscal year ending 25/3 announced around noon, it is well received that operating income is expected to increase drastically to 152 billion yen (up 47.4% from the previous fiscal year). It is expected that the energy business and product transportation business will perform well and boost profits.

Distribution source: Bloomberg, Nihon Keizai Shimbun, MINKABU