In Japan Daily Round-Up

Topix +0.17%, Y/$106.98
Japan’s Topix Caps Best Week in 2 Months on Signs of U.S. Growth

  • Sekisui House (1928) +4.8%; 2Q operating income beats highest analyst estimate; announced buyback of as much as 0.73% of shares
  • Credit Saison (8253) +2.2%; Daiwa Securities plans to acquire about 5% stake in company
  • FamilyMart (8028) +1.6%; Upgraded to neutral at Daiwa
  • Rakuten (4755) -5.2%; Company pushed back the launch of its mobile phone service originally slated for next month
  • SoftBank Group (9984) -2.7%; WeWork is reportedly considering seeking a valuation of about $20b to $30b and range could end up closer to $20b, which would be less than half the valuation it previously secured from SoftBank
  • Nissan Overpaid Ghosn Whistle-Blower Hari Nada Along With CEO
  • Nissan Won’t Seek CEO Saikawa’s Resignation Over Pay Issue: Jiji
  • Rakuten To Start Limited Mobile Offering On Oct. 1; To Create Its Own Handset For Mobile Service
  • Outsourcing Plans To Raise FY OP. To 70b Yen In FY 2024: Nikkei
  • Japan’s July Cash Earnings -0.3% Y/y; Real Earnings -0.9%
  • Softbank Corp: New Mobile Price Plans To Start Orders Sept. 13; Plans Won’t Have Minimum Contract, Cancellation Fees
  • Ajinomoto to End Distribution Contract With Kellogg in Japan
  • Berkshire Hathaway Raises 430B Yen in Record Japan Bond Sale
  • Aug comps: Autobacs Seven +10.7%; Torikizokou -4.1%; Skylark +2.7%
  • Nissan Weighs Pulling Out Of S.Korea Amid Japan Trade Spat: FT
  • Suruga Bank Downgraded to Neutral at JPMorgan; PT 380 Yen
  • Askul Corp. Target Price Raised to Y3,500 From Y3,000 by Jefferies
  • FamilyMart Target Raised to Y2,400 From Y2,100 by Daiwa Securities
  • Toyota Industries Cut to Equal-weight at Morgan Stanley
  • Silchester Intl Raises Stake In Dowa To 12.39% From 11.36%
  • Capital Research Units Raise Sosei Stake To 6.85% From 5.58%
  • Sumitomo Dainippon to Acquire More Than 10% of Roivant Sciences
  • SBI To Hold 20.92% Stake In Shimane Bank After Share Purchase
  • Ardisia Investment Raises Leopalace21 Stake To 15.09% From 9.01%
  • Reno Cuts Joint Stake In Leopalace21 To 10.55% From 16.18%
  • Haba To Buy Back Own Shares In Tender For 7,458 Yen/Share
  • FMR Units Hold Joint Shinsei Bank Stake Of 5.3%: Filing
  • Itochu, Recycler Terracycle Form Capital, Business Alliance
  • JVC Kenwood (6632) says it sold all shares in venture with ZMP (7316) to ZMP
  • New 52 week highs (32): Tokyo Tatemono, Olympus, Workman, Koei Tecmo, NEC Capital, EM Systems, Azbil, Oriental Land, JR West, TEL, Goldcrest, Lasertec (Storm rating: Positive), Itochu Techno Solutions, Nissin Elec, Advantest, Hitachi High-Tech
  • New 52 week lows (27): Sansan (Storm rating: Positive), Joyfull
  • Kura Sushi Inc Reports 9-Month Group Earnings Results: 1-3Q OP Y3.9bn -26%YoY
  • HI-LEX Reports 9-Month Group Earnings Results: 1-3Q OP Y6bn -34%YoY
  • Software Svc Reports 9-Month Parent Earnings Results: 1-3Q OP Y3.1bn +12%YoY
  • Poletowin Pitcrew Reports Half-Year Group Earnings Results: 1H OP Y1.6bn +9%YoY

Source: Bloomberg, Kurt Schussler