PSA Today 9 May: 11-day rally / Mar household spending / FY24 Q4s for SBI Holdings, Tokyo Seimitsu, Screen, MMC, KHI, MHI, Daikin, TIS, DeNA – Nikkei 225 +1.56% | ¥145.45

PSA Today Japan Market Comment by Pelham Smithers, Julie Boote, Joel Scheiman, Will Nestuk, Lindsay Whipp and Thao Nguyen
Tags: Nintendo (7974 JT), Bandai Namco (7832 JT), Omron (6645 JT), LY Corp (4689 JT), Kakaku.com (2371 JT), Ibiden (4062 JT), NTT Data (9613 JT), Kao Corp (4452 JT), Intermestic (262A JT), TIS Inc (3626 JT), Shiseido (4911 JT), DTS Corp (9682 JT), Renesas (6723 JT), Socionext (6526 JT), Alps Alpine (6770 JT), NTT (9432 JT), NEC Corp (6701 JT), BayCurrent (6532 JT), SBI Sumishin Bank (7163 JT), KHI (&012 JT), MHI (7011 JT), Asahi Kasei (3407 JT), Nidec (6594 JT), Makino Milling (6135 JT), Recruit Holdings (6098 JT), SBI Holdings (8473 JT), Tokyo Seimitsu (7729 JT), Screen Holdings (7735 JT), Mitsubishi Motors (7211 JT), Daikin (6367 JT), DeNA (2432 JT)
Main Points
 Topix extends rally to 11 days as Wall Street, earnings help drive Japan stocks higher
 March household spending +6.4% YoY, +2.1% YoY in real terms
 SBI Holdings FY24 Q4 NP +120% YoY
 Tokyo Seimitsu FY24 Q4 OP -3% YoY
 Screen Holdings FY24 Q4 OP +15% YoY, disappoints on guidance
 Mitsubishi Motors FY24 Q4 earnings beat estimates, guidance below consensus
 KHI falls but some positive points
 MHI pulls back from listing highs
 Daikin falls on FY25 OP guidance doubts
 DeNA’s FY24 Q4 misses; no guidance provided for FY25
 TIS FY24 Q4 and full-year results outperform