2025-06-12-花旗集团-三菱电机（6503）_岛村（8227）_宇宙制药（3349）_日本要点_10页_161kb

Citi Research Market Review Summary

Company Analysis

• Cosmos Pharmaceutical (3349.T): Revising up full-year operating profit forecasts for 2025 and 2026. Raises target price to ¥11,200 from ¥9,500. Positive earnings outlook with potential same-store sales growth from Q2. (Analyst: Mitsuru Takayanagi)
• Shimamura (8227.T): Raises FY26 and FY27 OP estimates. Lifts target price to ¥12,000 from ¥10,100. Sees considerable share price gains as market views on product appeal and shareholder returns rise. (Analyst: Mitsuru Takayanagi)
• Mitsubishi Electric (6503.T): Maintains "Buy" rating, raises target price to ¥3,800 from ¥3,500. View remains positive on restructuring. CEO suggests greater focus on M&A, however, focuses on RoIC at IR meeting. (Analyst: Kota Ezawa)
• Hitachi (6501.T): Held IR Day emphasizing increased shareholder returns and strict investment management. Positive signals on buybacks. Adjustments made to new medium-term plan. Overall view on new MTP remains optimistic. (Analyst: Kota Ezawa)

Macro Analysis

• Japan Economic Indicators: Next week's data releases include May Nationwide CPI, customs-clearance trade data, Apr machinery orders, Reuters Tankan June. Market expects no policy rate change. Focus on BoJ's JGB purchase plans, expecting cuts to continue through CY26 Q1 and halve starting Q2. (Analyst: Katsuhiko Aiba)

Fixed Income Analysis

• Japan BoJ JGB Holdings: Provided a quick summary and update on rinban (yield curve fitting model) forecasts based on BoJ's JGB holdings as of June 10. (Analyst: Tomohisa Fujiki)