PSA Today 31 Jan: Stocks higher but eyes on JGBs as Tokyo CPI surges / Dec macro data / Q3s for Hitachi, Konami, Socionext, Denso, Komatsu, ZOZO / Hino slumps / Toyota Industries: no plan to sell shares / Chugai's FY24 – Nikkei 225 +0.15% |

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, William Nestuk, Thao Nguyen and Nia Dokova
Tags: M&A Capital Partners (6080 JT), Nihon M&A Center (2127 JT), NEC Corp (6701 JT), Nomura Research Institute (4307 JT), Hitachi (6501 JT), Fujitsu (6702 JT), NTT Data (9613 JT), Chugai Pharmaceutical (4519 JT), Eli Lilly (LLY US), Daiichi Sankyo (4568 JT), Sumitomo Pharma (4506 JT), Sumitomo Chemical (4005 JT), Canon (7751 JT), Tokuyama Corp (4043 JT), Zeon Corp (4205 JT), TDK (6762 JT), Hino Motors (7205 JT), Konami (9766 JT), Electronic Arts (EA US), Sega Sammy (6460 JT), Square Enix (9684 JT), Socionext (6526 JT), Keyence (6861 JT), Toyota Motor (7203 JT), Denso (6902 JT), Komatsu (6301 JT), Toyota Industries (6201 JT), ZOZO (3092 JT), LY Corp (4689 JT), Roche (ROG SW), GlaxoSmithKline (GSK US), SoftBank Corp (9434 JT)
Main Points
 Tokyo shares rise on Wall Street gains, strong earnings, but main attention on JGBs as Tokyo CPI surges
 Industrial production, retail sales in Dec 2024 better than expected but Tokyo CPI surges again in January
 Hitachi’s FY24 Q3 OP falls -18% YoY but ahead of consensus; FY24 guidance raised
 Konami FY24 Q3 OP +53% YoY; revises up full-year guidance
 Socionext FY24 Q3 OP -45% YoY, cuts full-year OP target
 Hino shares drop on announcement of extraordinary losses
 Denso FY24 Q3 OP in line
 Komatsu FY24 Q3 OP tops highest street estimate
 Toyota Industries: no plan for selling Toyota shares
 ZOZO’s FY24 Q3 earnings beat
 Chugai shares gain +5.8% on FY24 results