Tokyo Market Summary: Nikkei Average falls, yen falls sharply, treasurers are not sharp enough, and there is a sense of security that the Bank of Japan “approved” sales

Top news
The yen plummeted, the treasurer's poor sharpness, and there is a sense of security that the Bank of Japan “approved” sales
The yen exchange rate plummeted in the Tokyo Foreign Exchange Market on the 14th, and it has sunk to the latter half of the 1 dollar = 150 yen range since 2023/11. The January US Consumer Price Index (CPI) announced on the 13th exceeded market expectations and dollar buying spread, and a sense of caution against exchange intervention in yen purchases by the Japanese government gradually increased. However, the current acceleration in the depreciation of the yen began with the Bank of Japan's information dissemination, which is unavoidable even if interpreted as “accepting the depreciation of the yen.”

Global manufacturing profit increased for the first time in five fiscal years October-December, driven by rice consumption
Net profit for the fiscal year ending 2023/10-12 of the global manufacturing industry turned to an increase compared to the same period last year for the first time in 5 quarters since the fiscal year ending 22/7/9. Sales of automobiles, electronics, etc. increased against the backdrop of a strong US economy. Non-manufacturing industries such as retail and services also maintained strong sales, and the overall growth rate increased by 10% for the first time in 2 years.

January mutual fund management and Toyota-related stock funds performed well
When management results (based on distribution reinvestment) for 2024/1 were ranked for additional stock investment trusts (exchange-traded funds = ETF, rap/SMA/DC exclusive, bullbear type, etc.) from domestic public offerings, 6 domestic equity funds ranked out of the top 10, and 4 of them were US dollar currency selection types.

Major automobile labor unions submit requests Toyota and Nissan at record high level
$Toyota Motor(7203.JP)$Ya $Nissan Motor(7201.JP)$Labor unions of major car companies, etc. began submitting requests for 2024 spring labor-management negotiations (spring battle) to the company side on the 14th. As prices continue to rise, labor unions across the board are demanding wage increases at a high level.

Notable stocks
JT --- sharp decline, negative view of profit reduction guidance for the current fiscal year
$Japan Tobacco(2914.JP)$There was a sharp decline. Financial results for the fiscal year ending 23/12 were announced the day before. Adjusted operating income is 728 billion yen, flat from the previous fiscal year, and the fiscal year ending 24/12 is 688 billion yen, which is expected to decrease 5.5% from the same period. It also seems that they are expecting a deceleration in tobacco sales volume and an increase in investment in Ploom X.
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Update- [Financial Results Bulletin] Sales and profit are expected to increase by 6 yen in both sales and profit to record highs for the fiscal year ending 2012/12, and sales and profit are expected to increase or decrease in fiscal year 24

Rakuten Group landed with deficit reduction at the end of the first fiscal year; deficit widened at the end of the 10-12 fiscal year (4Q); financial results for the current fiscal year were not disclosed
$Rakuten Group(4755.JP)$Financial results (International Accounting Standards = IFRS) were announced after closing on 2/14 (15:00). The consolidated final profit and loss for the fiscal year ended 23/12 shrank to a deficit of 339.4 billion yen (deficit of 377.2 billion yen in the previous fiscal year), resulting in a deficit for the 5th consecutive term. Furthermore, the earnings forecast for the fiscal year ending 24/12 was not disclosed.

Mitsubishi Motors to end domestic “RVR” production due to sluggish sales
$Mitsubishi Motors(7211.JP)$It became known on the 14th that production of the small multi-purpose sports vehicle (SUV) “RVR” for the domestic market will end around April. Domestic companies introduced SUVs, and sales of the same model were sluggish, and there was no prospect that development costs in compliance with regulations could be recovered. Production for overseas markets is expected to continue.

Dai-ichi Life - Extended backmarket decline, revised upward, 3Q cumulative final profit increased 42%
$Dai-ichi Life Holdings(8750.JP)$The backfield decline widened. The company announced at 14:30 on the 14th that it will raise its consolidated ordinary income forecast for the full fiscal year 24.3 trillion yen from the previous fiscal year of 8.353 trillion yen to 10 trillion 2010 billion yen (up 7.2% from the previous fiscal year).
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Dai-ichi Life HD, 4-12 (3Q cumulative total), landed with a 20% increase in profit, and a 44% increase in profit for the 10-12 fiscal year

GMO Internet - sharp rebound for the first time in 3 days, operating profit fell 3% in the previous fiscal year, surpassed consensus
$GMO Internet group(9449.JP)$There was a sharp rebound for the first time in 3 days. The company announced on the 13th that consolidated operating profit for the full year of the 23.12 fiscal year was 42.5 billion yen (down 2.9% from the previous fiscal year). The market consensus is 40.2 billion yen.