News & Insights

TOPIX ended April up 1.65% on March end. With little news coming from the domestic market, there continues to be a wait-and-see attitude towards FY2018 earnings results and starting from late-April, FY 2019 earnings guidance announcements.

Tokyo Stock Exchange is considering a tougher standard for listed companies in the 1st Section. The new standard will slash the number of listed companies. In this report, we will talk about TSE review, Japanese market outlook, and stock picks.

In this month’s report we describe our Economic Outlook for FY 2019. SuMi TRUST has updated its real GDP forecast for Japan for the next fiscal year ending March 2020 (FY 2019). Finally, we will introduce capital expenditures related companies that SuMi TRUST is paying close attention to.

SuMi TRUST has updated its operating profit forecast for the Nikkei 225 for the current fiscal year ending March 2019 (FY2018) and the next fiscal year ending March 2020 (FY2019).

The revised Immigration Control and Refugee Recognition Act was enacted by the Diet in December 2018 to expand the number of foreign workers. The Japanese government will establish a new residency qualification which officially enables foreign workers to be engaged in unskilled labour in order to deal with the serious labour shortage. This month, we take a look at the revised Immigration Act in more detail and consider what the impact may be for the Japanese economy.

1.Osaka-Kansai World Expo 2025 On 23 November, 2018, the 170 Member States of the Bureau International des Expositions (BIE) elected Japan to be the host of the 2025 World Expo during the 164th General Assembly of the BIE. Expo 2025 will take place in Osaka, the first expo to take place in the city since 1970. In this month, we take a look at the Osaka-Kansai Expo in more detail and consider what may be the impact for Japanese economy. 2.Market Review