Japan Research Pack

Highlights for Today

    Japanese equity prospects after Nikkei Avg falls below 20,000 (4) - Nikkei Avg up for first time in 7 trading days

    Expecting Nikkei Average to find a near-term floor

    Hisao Matsuura/ Kiichi Fujita/ Masaki Motomura

    Suntory Beverage & Food (2587 JP) Forecasts raised on Japan Beverage acquisition (Buy->Buy, Target Price: JPY6,000->JPY6,400, Price: JPY4,815)

    Appealing medium-term growth prospects amid rising likelihood that food inflation has petered out

    Satoshi Fujiwara

    Japan healthcare sector - Post-correction investment perspectives

    We focus on defensive and growth stocks

    Kyoichiro Shigemura

    Update on revisions to NHI drug prices and treatment fees (1) - General meeting of CSIMC

    Considering introduction of cost-effectiveness evaluation for long-listed drugs

    Kyoichiro Shigemura / Narumi Nakagiri

    First Look - Ain Pharmaciez (9627 JP) - 16/4 Q1 results (Buy->Buy, Target Price: JPY7,300, Price: JPY5,820)

    Kyoichiro Shigemura

    Japan housing & real estate sector - Monetary easing to support real estate price rise

    Urban condo demand buoyed by inheritance tax and quasi-investment related demand

    Daisuke Fukushima

    Rinnai (5947 JP) Chinese ops robust on area expansion strategy (Neutral->Neutral, Target Price: JPY9,290,

    Price: JPY8,350)

    Performance running ahead of targets and picture should clarify further in key autumn sales period

    Daisuke Fukushima

    Nikon (7731 JP) Plant visit (Neutral->Neutral, Target Price: JPY1,623, Price: JPY1,516)

    Productivity gains

    Tetsuya Wadaki

    Kameda Seika [2220]: medium-term business plan - Strong commitment to improved COGS

    Plans include cutting number of SKUs, standardizing equipment and inputs

    Ryozo Minagawa / Satoshi Fujiwara