PSA Today 12 Feb: Yen, bonds focus / Shimano Q4 / Sony / Chemicals / BS Q4 preview / GMO PG Q1, Cover Q3, PKSHA Q1 preview / Recruit / Moriya TE, JES Q3s / Sysmex Q3 – Nikkei 225 +0.42% | ¥$153.59

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, Thao Nguyen, Lindsay Whipp, Hiroyuki Terada and Nia Dokova
Tags: Japan Steel Works (5631 JT), Taiheiyo Cement (5233 JT), Kuraray (3405 JT), Toray (3402 JT), Fujikura (5803 JT), M3 Inc (2413 JT), SoftBank Corp (9434 JT), Nissan Motor (7201 JT), Hon Hai (2317 TT), Renault (RNO FP), Canon (7751 JT), Sharp (6753 JT), Nikon (7731 JT), Konica Minolta (4902 JT), Suzuki Motor (7269 JT), Yamaha Motor (7272 JT), Astroscale Holdings (186A JT), Ispace (9348 JT), Shimano (7309 JT), Sony (6758 JT), Apple (AAPL US), Boeing (BA US), Tokyo Ohka Kogyo (4186 JT), Kioxia (285A JT), Dexerials (4980 JT), Shin-Etsu Chemical (4063 JT), Bridgestone (5108 JT), GMO Payment Gateway (3769 JT), Cover (5253 JT), Anycolor (5032 JT), Recruit (6098 JT), PKSHA (3993 JT), Moriya Transportation Engineering & Manufacturing (6226 JT), Japan Elevator Service (6544 JT), Sysmex (6869 JT), Olympus (7733 JT)
Main Points
 Tokyo shares little changed as focus shifts to Yen, JGBs
 Shimano FY24 Q4 OP +25% YoY, but guidance is disappointing
 Will Sony report a YoY decline in NP?
 A volatile day for chemical stocks
 Bridgestone FY24Q4 preview
 GMO Payment Gateway’s FY25 Q1 earnings beat
 Cover’s strong FY24 Q3 leads to an upward revision to full-year guidance
 Recruit’s revised guidance disappoints
 PKSHA: FY25 Q1 preview
 Moriya Transport Engineering FY24 Q3 OP +54.2% YoY, no change to full-year guidance
 Japan Elevator Service FY24 Q3 OP +24.2% YoY, no change to full-year guidance
 Sysmex FY24 Q3 mixed but no change to full-year guidance, which is below consensus