I would like to pay attention to the following 3 points in the pre-market transaction on the 17th.

■Steady market development while at a stalemate

■Coconala, 24/8 revised upward operating profit 270 million yen ← 10 million yen

■Notable materials from the front: Honda invests 10 trillion yen in electrification and software around fiscal year 30

■Steady market development while at a stalemate

The Japanese stock market on the 17th is likely to have a solid market development despite a stalemate. In the US market on the 16th, the NY Dow depreciated by 38 dollars and the NASDAQ depreciated by 44 points. Purchases in response to expectations of interest rate cuts in the latter half of the year by the US Federal Reserve (Fed) continued, and the NY Dow was in the 40,000 dollar range for the first time. After that, it began to decline from looking like it was being pushed by profit-making sales due to a sense of accomplishment at a high price. Despite the April US Consumer Price Index (CPI) results announced the day before, senior Fed officials still reiterated their cautious stance supporting maintaining high interest rates for the time being, so long-term interest rates rose and high-tech turned to sales. Chicago Nikkei 225 futures are 38560 yen, which is 330 yen lower than Osaka. The yen exchange rate has been moving in the range of 155 yen to 40 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 temporarily bought up to 38970 yen during the night session, but then softened and ended at a low price of 38530 yen during the night session. However, it is a trend in the price range of the previous day, and it is thought that the movement to adjust holdings is the center. Since the 25th line and the 75th line, which were perceived as resistance lines, have changed to support lines, there seems to be strong motivation to buy at the same level.

There was a strong sense of stalemate in yesterday's Nikkei Stock Average after the first round of buying, but there was also a scene where the increase widened to 38949 yen until the end of the market amid strong inclusions after the middle of the backstage. The +1σ of the Bollinger Band is located around 39090 yen, and it seems that trend formation with the same level in mind is expected. There is a possibility that aggressive trading will be refrained from due to weekend factors, but it seems that the stance is to wait and see.

Also, the strength of high-tech stocks was prominent yesterday. NVIDIA's financial results are ahead next week, and there seems to be a possibility that it will lead to a wait-and-see mood, but it is easy for high-tech stocks that have been showing adjustments at the moment to be aware of sales buybacks. Yesterday's NT ratio (Nikkei average ÷ TOPIX) rose from 14.05 times the previous day to 14.21 times. As the Nikkei Average dominance is expected to develop due to the recent rebound from the bottom zone, I would like to keep an eye on trends in high-tech stocks.

■Coconala, 24/8 revised upward operating profit 270 million yen ← 10 million yen

Coconala ＜4176＞ announced revisions to its earnings forecast for the fiscal year ending 2024/8. Net sales were revised upward from 5.848 billion yen to 6.57 billion yen, and operating profit was revised upward from 0.1 billion yen to 270 million yen. An Consulting became a wholly owned subsidiary, and investments related to business development (over 200 million yen in advertising costs, labor costs, product development costs, etc.) will slide into the next fiscal year or later. As a result, sales and profits at each stage exceed previous expectations.

■Notable materials from the front

・The Nikkei Average rose (38920.26, +534.53)

・1 dollar = 155.30-40 yen

・The VIX Index declined (12.42, -0.03)

・US crude oil futures rose (79.23, +0.60)

・Expectations that US inflation will calm down

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

・Honda ＜7267＞ invests 10 trillion yen in electrification and software in fiscal year 30

・Renesas ＜6723＞ India is deeply cultivated, and the number of personnel will increase 20 times to 1000 people next year

・JR Tokai ＜9022＞ supply network cooperates with ENEOS and Hitachi to introduce hydrogen vehicles

・Nippon Thomson ＜6480＞ new mid-term plan, average operating profit of over 9 billion yen, focus on semiconductor equipment, etc.

・Sojitz ＜2768＞ biotechnology research contract, business partnership with American Ginkgo

・Marubeni ＜8002＞ Invests in US companies to strengthen infrastructure and utilize satellite data

・SUBARU ＜7270 ＞ New Car Subscription Begins, Kint Utilization, 8 Models including “Levog”

・Shima Seiki Seisakusho ＜6222＞ flat knitting machine restructuring, business sales for fiscal year 26:38.5 billion yen

・Sinfonia ＜6507＞ Thailand Plant 3 completed, production for semiconductor devices doubled

・Mass production of TDK＜6762＞ noise suppression sheets, prevention of malfunction of electronic devices

・Murata Manufacturing Co., Ltd. ＜6981＞ invested in R+ to recycle plastic

・Dai Nippon Printing ＜7912＞Invest 1 billion yen in MonoAI to strengthen XR development

・Amita HD ＜2195＞ Memorandum of Understanding with India's environmental giant, recycling waste

・Toda Construction ＜1860＞Hotel development in NZ, investment in local companies, acceleration of overseas expansion

・Nichiha ＜7943＞ new mid-term budget, operating profit of 16.5 billion yen for the fiscal year ending 27/3, non-housing strengthening/US development

☆ Front office event schedule

＜Domestic＞

・Nothing in particular

＜Overseas＞

・ 11:00 Mid-April industrial production (year-on-year forecast: +5.5%, March: +4.5%)

・ 11:00 Mid-April retail sales (year-on-year forecast: +3.7%, March: +3.1%)