PSA Today 8 Aug: Topix above 3,000 / June household spend / Analyst Q1 comments Sega Sammy, Kioxia, Isuzu, IIJ, JES, Sanrio / Q2s for Bridgestone, Daifuku, Intermestic / Q3 for CyberAgent – Nikkei 225 +1.85% | ¥$147.40

PSA Today Japan Market Comment by Pelham Smithers, Joel Scheiman, Julie Boote, William Nestuk, Thao Nguyen, Lindsay Whipp and Hiroyuki Terada
Tags: Advantest (6857 JT), Tokyo Electron (8035 JT), Kaga Electronics (8154 JT), Adeka (4401 JT), SoftBank Group (9984 JT), Terumo (4543 JT), Nitori (9843 JT), Aiful (8515 JT), Nippon Sheet Glass (5202 JT), Sega Sammy (6460 JT), Eneos (5020 JT), DIC (4631 JT), Obayashi Corp (1802 JT), Eli Lilly (LLY US), Chugai Pharmaceutical (4519 JT), Novo Nordisk (NOVOB DC), Kuraray (3405 JT), Toray Industries (3402 JT), Kaneka (4118 JT), Rakuten (4755 JT), KDDI (9433 JT), NTT Docomo (unlisted), Kakaku.com (2371 JT), Kioxia (285A JT), SanDisk (SNDK US), Isuzu Motor (7202 JT), Hino Motors (7205 JT), Bridgestone (5108 JT), Daifuku (6383 JT), CyberAgent (4751 JT), Nintendo (7974 JT), DeNA (2432 JT), Internet Initiative Japan (3774 JT), Japan Elevator Service (6544 JT), Intermestic (262A JT), Sanrio (8136 JT)
Main Points
 Topix breaks through above 3,000 on tariff news, earnings
 Japan household spending +5% YoY in June
 Sega Sammy Q1 loss but exciting Q2~4 outlook
 Kioxia FY25 Q1 OP ¥45bil -64% YoY
 Isuzu FY25 Q1 results decline on rising expenses, forex losses
 Bridgestone FY25 Q2 adjusted OP beats estimates
 Daifuku riding high
 CyberAgent’s FY25 Q3 beats, full-year guidance revised up
 IIJ FY25 Q1 results miss consensus estimates
 Japan Elevator Service FY25 Q1 OP +30.2% YoY driven by new contracts and higher ASPs
 Intermestic FY25 Q2 OP in line with plan
 Sanrio’s new guidance looks conservative