Nomura Securities raised the year-end target for Japan's benchmark stock index, the Tokyo Stock Exchange Index, from 4,200 points to 4,400 points. The reason for the increase is that institutions raised the company's earnings per share forecast, driven by product price increases, sales increase, and weakening yen. Tomochika Kitaoka, chief stock strategist at Nomura, said in a research report on Monday: “We are still optimistic about the upward trend in the Japanese stock market. The increase in earnings per share will be supported by multiple factors such as product price increases and stock shrinkage.” The forecast year-on-year growth rate for the 2026 Eastern Stock Index constituent stocks was raised from 13.4% to 19.2%. According to agency estimates, about half of the recent increase in corporate profit margins comes from temporary factors such as exchange rate effects and tariff rebates; the other half comes from price increases and sales growth, which is sustainable. Supported by corporate repurchases, individual investors, and overseas capital purchases, the market supply and demand pattern is still tight. The year-end target for the Nikkei 225 Index was raised from 68,000 points to 70,000 points.

Nomura Securities raised the year-end target for Japan's benchmark stock index, the Tokyo Stock Exchange Index, from 4,200 points to 4,400 points. The reason for the increase is that institutions raised the company's earnings per share forecast, driven by product price increases, sales increase, and weakening yen. Tomochika Kitaoka, chief stock strategist at Nomura, said in a research report on Monday: “We are still optimistic about the upward trend in the Japanese stock market. The increase in earnings per share will be supported by multiple factors such as product price increases and stock shrinkage.” The forecast year-on-year growth rate for the 2026 Eastern Stock Index constituent stocks was raised from 13.4% to 19.2%. According to agency estimates, about half of the recent increase in corporate profit margins comes from temporary factors such as exchange rate effects and tariff rebates; the other half comes from price increases and sales growth, which is sustainable. Supported by corporate repurchases, individual investors, and overseas capital purchases, the market supply and demand pattern is still tight. The year-end target for the Nikkei 225 Index was raised from 68,000 points to 70,000 points.