Catalyst Calendar - Japan Equity May 28 Issue

Research evidence excerpt

Catalyst Calendar - Japan Equity May 28 Issue

J P M O R G A N Asia Pacific Equity Research

28 May 2026

Catalyst Calendar - Japan Equity

May 28 Issue

Main Events Japan Equity Research

Japan Equity Research

AC• June 1 (Monday) Ono Pharmaceutical (4528, Underweight, Seiji Wakao) Japan Research

ASCO 2026 ONO-4578 (EP4 antagonist, gastric cancer) detailed data japanresearch@jpmorgan.com

announcement: If competitive data are confirmed, we think the share price AC Akira Kishimoto

would react positively. (81-3) 6736-8646

• After June 3: Nippon Shinyaku (4516, Neutral, Seiji Wakao) Result of the akira.x.kishimoto@jpmorgan.com

provisional injunction hearing for deramiocel by Capricor Therapeutics: JPMorgan Securities Japan Co., Ltd.

If Capricor’s request is approved, we would expect the outlook to deteriorate

further, which would be negative. If rejected, we would view this as positive,

but uncertainty remains as economic terms will depend on subsequent

negotiations.

• June 4 (Thursday) Shimadzu Corporation (7701, Overweight, Naoko

Saito) New medium-term plan announcement: The company will hold a

briefing on its new medium-term plan for FY2027–FY2029 at 3:30 pm. We

will focus on improvements in operating profit margin for the measuring

instruments business and the North American growth strategy. We will also

watch the company’s approach to its business portfolio and investments.

Although amortization costs for goodwill related to the planned acquisition of

Tescan are expected to increase in FY2027–FY2028 (the acquisition review

has been delayed and is not yet reflected in FY2027 guidance), and there are

risks related to the Middle East conflict, we believe Shimadzu is successfully

leveraging the added value of products such as LCMS to achieve favorable

pricing effects.