＜8035＞ East Electric 34640 -360

fight. Financial results for the fiscal year ending 2014/3 were announced last weekend, and operating profit for the fiscal year ending January-March was 145.2 billion yen, down 4.9% from the same period last year, and market expectations were off by about 7 billion yen. Meanwhile, the fiscal year ending 25/3 is 582 billion yen, which is expected to increase 27.6% from the previous fiscal year, which is just over 10 billion yen below consensus. Fixed cost burdens such as depreciation and amortization costs and research and development expenses seem to be greater than market expectations. However, there is also a sense of surprise at the announcement of a share buyback implementation with an upper limit of 3.5 million shares and 80 billion yen, which is 0.8% of the number of issued shares.

＜8801＞ Mitsui No 1492.5 -85

A sharp decline. Financial results for the fiscal year ending March 31, '24 were announced last weekend, and operating profit was 339.7 billion yen, up 11.2% from the previous fiscal year, and landed almost at the level expected by the market. The annual dividend was 84 yen, an increase of 2 yen compared to the plan. Meanwhile, the fiscal year ending 25/3 is 340 billion yen, which is expected to increase only 0.1% from the same period, and the consensus is around 365 billion yen. The annual dividend is 30 yen, and the actual dividend is planned to increase by 2 yen. There was also an EPS annual growth rate of 8% in the new mid-term plan, and negative reactions preceded the guidance.

＜4911＞ Shiseido 4656 +146

Significant continued growth. Financial results for the first quarter were announced last weekend, and operating profit and loss were in deficit of 8.7 billion yen due to recording structural reform costs related to early retirement support plans, but core operating income was 11.3 billion yen, down 9.6% from the same period last year, and it seems that the planned ratio fluctuated by about several billion yen. Sales and profits are rising in Japan and China. Cost savings due to structural reforms were also approximately 3 billion yen, and progress is progressing smoothly against the full-year plan of over 15 billion yen. It seems that the movement to evaluate financial results has taken the upper hand.

＜7936＞ ASICS 8750 +1500

Stops are highly proportional. Financial results for the first quarter were announced last weekend, and operating profit was 33.8 billion yen, up 52.9% from the same period last year, which greatly exceeded the market consensus of around 25 billion yen. Sales are strong in each category, and gross profit margins have also improved due to strong sales of high-priced products. Sales in April also seem to have grown higher than in the first quarter. The full-year plan of 58 billion yen, an increase of 7.0% from the previous fiscal year, remains unchanged, but it seems that a significant increase is being recognized.

＜6315＞ TOWA 13450 +2320

skyrocketing. Financial results for the fiscal year ended March 24 were announced last weekend. Operating profit was 8.66 billion yen, down 13.7% from the previous fiscal year, and exceeded the previous plan of 8.16 billion yen. Since the progress rate up to the 3rd quarter was low, the achievement of the plan was viewed positively. Profit is expected to increase drastically, with a 45.5% increase from the same period to 12.6 billion yen for the fiscal year ending 25/3. Although the guidance is in line with mid-term target values, a sense of security prevails. Orders for HBM have also been steadily piling up, and expectations as a representative brand related to AI semiconductors have also been rekindled.

＜7744＞ Noritz Steel 3860 +700

Stops are highly proportional. Financial results for the first quarter were announced last weekend, and operating profit was 7.64 billion yen, 3.8 times the same period last year, and the first half forecast was revised upward from the previous 5.7 billion yen to 9.1 billion yen, and from 13.4 billion yen to 16 billion yen for the full year, respectively. The background of the upward revisions was business progress for the first quarter and the review of expected exchange rates. Expectations of a further increase remain from the high progress rate, and there is also awareness of the expansion of room for dividends due to the increase in earnings.

＜4552＞ JCR Pharma 648 -150

Stop cheap. Financial results for the fiscal year ended March 24 were announced last weekend. Operating profit was 7.53 billion yen, up 51.4% from the previous fiscal year, significantly lower than the previous plan of 10.5 billion yen. Profit is expected to decline drastically, with a 28.3% decrease of 5.4 billion yen for the fiscal year ending 25/3. The market consensus is around 7.5 billion yen. Sluggish growth etc. of the human growth hormone preparation “GLOW JECT” are the background of market expectations. Furthermore, there seems to be little impression that earnings forecasts are conservative due to plans to increase contract fee revenue, etc.

＜4971＞ Mech 4550 +700

Stops are highly proportional. First quarter results were announced last weekend. Operating income was 1.05 billion yen, a significant increase of 6.2 times from the same period last year, and forecasts for the first half of the year were revised upward from the previous 1.3 billion yen to 1.8 billion yen, and from 3 billion yen to 3.65 billion yen for the full year, respectively. The effects of the depreciation of the yen in exchange rates and progress in improving production efficiency in efforts for global production strategies seem to be in the background. Further improvements are also recognized from the progress rate.

＜5949＞ Unipres 1446 +300

The stop is high. Financial results for the fiscal year ending 2014/3 were announced last weekend, and operating income was 10.9 billion yen, 2.9 times the previous fiscal year, which greatly exceeded the previous plan of 7.5 billion yen. The annual dividend is 35 yen, an increase of 5 yen compared to the previous plan. Operating profit for the fiscal year ending 25/3 is expected to be 12 billion yen, up 9.8% from the same period, and the annual dividend is planned to be 60 yen, an increase of 25 yen from the previous fiscal year. In the medium-term plan, it is said that they are conscious of DOE of 2% or more. Note, in the mid-term target, we target operating income of 21 billion yen for the fiscal year ending 27/3.

＜5202＞ sheet glass 458 -65

Plummeting. Financial results for the fiscal year ending 24/3 were announced last weekend, and operating profit was 35.9 billion yen, up 3.0% from the previous fiscal year, falling below the previous plan of 42 billion yen. Also, the fiscal year ending 25/3 is 37 billion yen, which is expected to increase 3.2% from the same period, which is about 5 billion yen below the consensus. Sluggish sales of architectural glass and automotive glass in Germany seem to be a factor in the decline in business performance. The current fiscal year guidance also seems to assume that the European economy will bottom out from the second half.