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TYO:6902

13 stories mentioning TYO:6902

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Asia

Japanese Shares Close Lower After Choppy Session, as Fresh Attacks on Iran Spook Investors

After the choppy trading session, Japanese shares extended its opening losses to close in the red on Thursday as the news of a fresh US military strike on Iran and Kuwaiti reports of missile attacks hit investor sentiment.The Nikkei 225 closed down 306.29 points, or 0.5%, at 64,693.12.News reports quoting US officials said the Central Command forces shot down four Iranian drones that were seen as a threat near the Strait of Hormuz. The US military is also reported to have hit an Iranian ground control station in Bandar Abbas.Investors are also cautious of the US inflation data that may weigh heavy on bonds and interest rates.On the domestic front, Japan's major exports to the Middle East plunged in April amid the ongoing war in the region, according to trade statistics released by country's finance ministry on Thursday.Major exports from the country, including cars and steel pipes, to the Middle East region, fell by 55.8% in value year on year to 138.695 trillion yen in April, affected by the prolonged closure of the Strait of Hormuz.On the corporate side, six Toyota Motor (TYO:7203)-affiliated auto suppliers, including Denso (TYO:6902), plan to spend a combined 1.16 trillion yen on research and development for the fiscal year ending March 2027, Nikkei Asia reported Thursday, citing company officials.Also, Sojitz (TYO:2768) plans to bid for public sector projects worth over $6 billion in Australia as part of a bold push into new markets, Nikkei reported on Thursday, citing Sojitz executive Takefumi Nishikawa.

Nikkei 225TYO:6902TYO:7203
Asia

Market Chatter: Toyota Suppliers Including Denso Boost R&D Spending to Cut Reliance on Rare Earths

Six Toyota Motor (TYO:7203)-affiliated auto suppliers, including Denso (TYO:6902), plan to spend a combined 1.16 trillion yen on research and development for the fiscal year ending March 2027, Nikkei Asia reported Thursday, citing company officials.All six companies -- Denso, Aisin (TYO:7259), Toyota Boshoku (TYO:3116), Jtekt (TYO:6473), Toyoda Gosei (TYO:7282), and Aichi Steel (TYO:5482) -- have increased their R&D budgets, with all except Jtekt anticipating record-high spending levels, the report said.Denso accounts for 705 billion yen of the total, a 2% increase from the previous year, the report said, citing Denso President Shinnosuke Hayashi.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:3116TYO:5482TYO:6473TYO:6902TYO:7203TYO:7259TYO:7282
Asia

Citi Downgrades Denso to Neutral from Buy; Price Target is 1,900 Yen

Denso (TYO:6902) has an average rating of overweight and mean price target of 2,221.18 yen, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

TYO:6902
US Markets

Mitsubishi Motors Swings to Loss in Q3 Fiscal Year

Mitsubishi Motors (TYO:7211) swung to a loss in the third quarter of the 2025-2026 fiscal year as the company felt the impact of the U.S. tariffs on its operations.The loss attributable to owners during the period was 4.49 billion Japanese yen, or 3.35 yen per share, according to the company's earnings published Tuesday.The attributable profit a year earlier was 33.2 billion yen, or 22.8 yen per share.Net sales slid 1% year on year to 1.977 trillion yen from 1.989 trillion yen."Price competition continues to be severe due to the continued aggressive export stance of Chinese manufacturers," the automobile company said during an investor call. "Furthermore, geopolitical and macroeconomic uncertainties remain high, including U.S.-China tensions, policy friction over green products, and concerns about a global economic slowdown."The impact of the tariffs eased at the start of the year as the U.S. made trade deals with China. However, the automobile industry continues to face challenges amid the Middle East conflict.Japanese automakers are forced to trim production and look for alternative supplies as the war in Iran affected aluminum supplies. Carmakers, such as Toyota (TYO:7203) and Denso (TYO:6902), purchased 70% of their aluminum imports from the Middle East, the Japan Times reported April 20, citing data from Japan's top auto lobby.Uncertainty still lingers despite the U.S. and Iran agreeing on a ceasefire. There is still the risk of metal supplies dwindling as the Strait of Hormuz has not yet fully opened.Meanwhile, Mitsubishi forecasted that its attributable profit for the full 2025-2026 fiscal year will jump 76% to 10 billion yen, with a basis earnings per share of 7.47 yen.Net sales for the full fiscal year are expected to grow to 2.900 trillion yen after the introduction of new models pushed sales volume higher, especially in December 2025, the company said.

TYO:6902TYO:7203TYO:7211
US Markets

Denso's Fiscal 2026 Profit, Revenue Rise Amid Geopolitical Risks

Denso (TYO:6902) reported higher profit and revenue for the fiscal year of 2026 despite various external factors, but predicted lower earnings in the following year due to the impact of the ongoing Middle East conflict on Japanese carmakers.The profit attributable to owners rose 5.9% year on year to 443.8 billion yen, while revenue climbed 5.3% from a year earlier to 7.540 trillion yen, due to higher vehicle sales and cost recovery from changes to certain product programs, according to the company's Tuesday press release.Operating profit jumped 6.5% year on year to 552.5 billion yen, beating the company's forecast of 500 billion yen."Although our profitability was affected by various factors - including tariff-related costs, higher parts and material prices, and increased investment in our workforce - our team's ongoing business improvements and higher production volumes enabled us to achieve a higher operating profit than last year," Denso's executive vice president and chief financial officer, Yasushi Matsui, said.The automobile maker decided to pay out an annual dividend of 67 yen for the period.The company has been profitable for the period despite withdrawing its proposal to acquire shares in ROHM (TYO:6963) after failing to secure support from ROHM's board and a special committee.The decision was made after a review of the proposal's corporate value, which concluded that "continuing the proposal at this time would not necessarily contribute to the enhancement of its corporate value".The deal could have been worth up to $8.3 billion, according to a Reuters report.However, external factors, including the Middle East war, could have implications for Japan's automobile sector, especially when it comes to aluminum supply.Denso, being the key supplier of Toyota (TYO:7203), is among the affected, as 70% of Japanese carmakers' aluminum imports come from the Middle East, according to a Bloomberg News report on April 20.Denso forecasted that the attributable profit for the fiscal year of 2027 will drop to 382 billion yen, while revenue will rise to 7.670 trillion yen. Operating profit is also expected to fall to 500 billion yen."Our operating profit forecast decreased from the 2026 fiscal year, reflecting strengthened investments aimed at future growth and potential risks associated with a highly uncertain business environment," Matsui said.

TYO:6902TYO:6963TYO:7203
Asia

Denso's Profit Edges Up 5.9% in Fiscal Year 2026

Denso's (TYO:6902) profit attributable to owners of the parent rose 5.9% to 443.8 billion yen for the fiscal year 2026, from 419.1 billion yen a year earlier.The automotive manufacturer's basic earnings per share increased to 162.96 yen from 145.02 yen a year ago, according to a Tokyo bourse filing on Tuesday.Revenue rose 5.3% to 7.54 trillion yen for the full year ended March 31 from 7.162 trillion yen in the prior year.In a separate disclosure, Denso raised its final dividend payout to 35 yen per share from 32 yen initially planned, and is payable from May 29.For the fiscal year 2027, the company expects attributable profit of 382 billion yen, basic EPS of 146.95 yen and revenue of 7.67 trillion yen.Denso plans to pay interim and year-end dividends of 37 yen , each, for the year, which is higher than the amount paid in the year-ago period.

TYO:6902
Asia

Japan Stocks Fall as BOJ Holds Rates, Flags Middle East Uncertainty

Japanese equities closed lower on Tuesday after the Bank of Japan held its policy rate at 0.75% and flagged heightened uncertainty around the economic outlook.The Nikkei 225 fell 1.02%, or 619.90 points, to close at 59,917.46.The decision came with dissent from three board members who called for a rate increase, reinforcing expectations of a potential policy shift. Governor Kazuo Ueda said the likelihood of achieving the bank's forecasts has weakened due to uncertainty tied to the Middle East conflict.He said risks are skewed both ways, with downside pressure on growth and upside risks to inflation, particularly in fiscal 2026, making it difficult to assess the duration and impact on the economy and prices.In other economic news, Japan's unemployment rate rose to 2.7% in March from 2.6%, as the number of employed fell to 68.15 million and jobless increased to 1.86 million.On the corporate front, Shares of Denso (TYO:6902) fell about 3% after it withdrew its proposal to acquire a stake in ROHM (TYO:6963), citing lack of support and limited value upside.Shares of Nissan Motor (TYO:7201) rose about 4% after it forecast a narrower fiscal 2025 loss, with loss per share seen at 157.42 yen and net loss at 550 billion yen alongside slightly higher sales.Shares of Idemitsu Kosan (TYO:5019) gained about 3% after a report said it will supply Vietnam with around 4 million barrels of crude via routes bypassing the Strait of Hormuz.

Nikkei 225TYO:5019TYO:6902TYO:6963TYO:7201
Asia

Denso Shares Fall on Withdrawal of Planned ROHM Stake Purchase

Shares of Denso (TYO:6902) fell about 3% on Tuesday after the company withdrew its proposal to acquire shares in ROHM (TYO:6963).Denso said its board decided to scrap the plan after failing to secure support from ROHM's board and a special committee following discussions on valuation and strategy, according to a Monday filing on the Tokyo Stock ExchangeThe company said it concluded that proceeding would not necessarily enhance its medium- to long-term corporate value under current conditions, including intensifying competition.Denso and ROHM will continue their existing strategic partnership, focusing on collaboration in analog semiconductors across automotive, consumer and industrial applications, including joint development and supply initiatives.Denso said it will keep exploring other collaboration opportunities in the semiconductor sector.

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Asia

Japanese Stocks Climb as Iran's Plan to Reopen Strait Boosts Sentiment

Japanese shares ended higher on Monday, tracking a broader risk-on sentiment after reports that Iran proposed reopening the Strait of Hormuz to the U.S., easing concerns over stalled peace talks and potential supply disruptions.The Nikkei 225 rose 1.4%, or 821.18 points, to close at 60,537.36.Cautious optimism returned on Monday after talks broke down over the weekend, when U.S. President Donald Trump scrapped an envoy visit, and Tehran ruled out negotiations under pressure.Iran has floated a plan through Pakistani mediators to extend the ceasefire and create space for broader talks, with nuclear discussions to follow once a U.S. blockade of the Strait of Hormuz is lifted. The proposal has been delivered to the White House, with no clear response yet. Trump is due to meet his national security team later in the day.In economic news, Japan's leading index rose to 113.3 in February after an upward revision, while the coincident index fell to 116.3 from January's revised 118.1, government data showed Monday.On the corporate front, Rohm (TYO:6963) fell 9% after saying it has not supported Denso Corporation's (TYO:6902) share acquisition proposal and that recent media reports did not originate from the company.Eneos (TYO:5020) slipped over 1% after saying it is strengthening governance following the indictment of its unit over alleged diesel price coordination in Tokyo.Kyorin Pharmaceutical (TYO:4569) edged down over 1% despite plans to transfer its generic drug business to a Daito-led platform as it shifts focus to new drug operations.

Nikkei 225TYO:4569TYO:5020TYO:6902TYO:6963
Asia

Rohm Has Not Expressed Support for Denso's Proposal to Acquire Shares

Rohm (TYO:6963) said it "has not expressed its support" for Denso Corp.'s (TYO:6902) proposal to acquire shares in the company, according to a Monday filing with the Tokyo Stock Exchange.Recent media reports about the proposal did not come from Rohm's announcement, and the company has not backed the plan at this stage. Denso is considering how to respond to the matter, Rohm said.

TYO:6902TYO:6963
Asia

Market Chatter: Japan Aluminum Shortage Threatens Auto Output

Japan's dependence on Middle Eastern aluminum is disrupting production as the Iran conflict curbs shipments and lifts prices about 13%, Bloomberg News reported Monday.Auto and parts makers, including Toyota Motor (TYO:7203) and Denso (TYO:6902), are exposed, with about 70% of imports sourced from the region. Denso cut output by roughly 20,000 units in March, according to the report.Kato Light Metal said it has inventory through May and will shift to Southeast Asian suppliers as Middle East deliveries halt, the report said.Japan imported about 30% of its aluminum from the region in 2025, leaving it among the most vulnerable to shortages. Damage to refineries and shipping bottlenecks could keep supply tight for months, with broader disruptions likely as inventories run low, according to the report.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225TYO:6902TYO:7203
Asia

Toyota Industries to Book 4.4 Trillion Yen by Selling Holdings in Toyota Motor, Others via Buybacks

Toyota Industries (TYO:6201) said it will tender all its holdings in several group companies' share buybacks and expects to record about 4.426 triillion yen in profit from the sales, according to a Friday filing on the Tokyo Stock Exchange.The company said it will tender its entire stakes in Toyota Motor (TYO:7203), Denso (TYO:6902), Toyota Tsusho (TYO:8015) and Aisin (TYO:7259), subject to the commencement of buyback offers by some of the companies.Toyota Industries said it plans to sell about 1.19 billion shares in Toyota Motor alone, valued at roughly 3.657 trillion yen based on the tender price. The move is part of a broader transaction aimed at taking the company private, it said.

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Asia

Japan Approves Additional Funding for Chipmaker Rapidus

Rapidus has secured additional funding from Japan's New Energy and Industrial Technology Development Organization (NEDO) for its fiscal year 2026 plans to accelerate next-generation 2nm logic semiconductor development.The approval covers two projects: front-end process R&D for 2nm integration and short-TAT manufacturing, and back-end development for chiplet, package design, and manufacturing tech, according to a statement on Sunday.The approved funding totalled 631.5 billion yen, according to a Reuters News report, citing Japan's industry ministry.In fiscal year 2025, Rapidus verified Japan's first 2nm GAA transistor on 300mm wafers and prototyped the industry's first organic RDL interposer using a 600mm square panel.With the new budget, Rapidus will now progress toward its target of starting mass production in 2027.Rapidus was established in August 2022 with the support of eight major Japanese companies: Denso(TYO:6902), Kioxia(TYO:285A), MUFG Bank (TYO:8306), NEC(TYO:6701), NTT (TYO:9432), SoftBank(TYO:9984), Sony (TYO:6758), and Toyota (TYO:7203)

TYO:285ATYO:6701TYO:6758TYO:6902TYO:7203TYO:8306TYO:9432TYO:9984