PSA Today 25 Apr: Most of tariff fall recouped now / Tokyo CPI / Analyst articles on Advantest, Nissan, Hino, Denso, HCM, NRI, NTT Data, Chugai, DSK – Nikkei 225 +1.90% | ¥$143.55

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Lindsay Whipp and Nia Dokova
Tags: Renesas (6723 JT), Fujikura (5803 JT), Furukawa Electric (5801 JT), Nidec (6594 JT), Fujitsu (6702 JT), Hitachi (6501 JT), NEC Corp (6701 JT), Canon (7751 JT), Shin-Etsu Chemical (4063 JT), Zeon Corp (4205 JT), Tokyo Steel (5423 JT), Daiichi Sankyo (4568 JT), Chugai Pharmaceutical (4519 JT), Advantest (6857 JT), Teradyne (TER US), Lam Research (LRCX US), Tokyo Seimitsu (7729 JT), Ulvac (6728 JT), Nissan Motor (7201 JT), Honda Motor (7267 JT), Hino Motors (7205 JT), Toyota Motor (7203 JT), Denso (6902 JT), Hitachi Construction Machinery (6305 JT), Komatsu (6301 JT), Nomura Research Institute (4307 JT), BayCurrent (6532 JT), NTT Data (9613 JT), OpenAI (pvt), Databricks (pvt), PwC (pvt), ExaWizards (4259 JT), AstraZeneca (AZN LN), Merck (MRK US)
Main Points
 Nikkei 225 recovers most of tariff losses as trade talks, good earnings numbers aid sentiment
 Tokyo area CPI +3.5% YoY in April
 Advantest FY25 OP guidance falls well short of expectations
 Nissan raises net loss forecast to a record -¥750bil
 Hino Motors FY24 Q4 results beat estimates, guidance below consensus
 Denso disappoints; Guidance assumes no tariffs
 HCM’s FY24 Q4 OP disappoints but tariffs borne by US OEM producer
 NRI’s FY24 Q4 misses consensus estimates, but FY25 OP is strong
 NTT Data to become first Japan reseller of OpenAI’s ChatGPT Enterprise solution
 Chugai pipeline updates
 DSK full-year FY24 results beat expectations