Catalyst Calendar - Japan Equity

Research evidence excerpt

Catalyst Calendar - Japan Equity

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

09 July 2026

July 9 Issue

Main Events Japan Equity Research

Japan Equity Research

AC• June-August 2026: Otsuka Holdings (4578, Overweight, Seiji Wakao) Japan Research

Announcement of Ph3 eGFR top-line data for sibeprenlimab: If favorable japanresearch@jpmorgan.com

data showing sufficient maintenance or improvement of kidney function is AC Akira Kishimoto

obtained, this could accelerate market penetration and be positive for the stock. (81-3) 6736-8646

• July 14 (Tuesday) Kao (4452, Overweight, Akiko Kuwahara) Marketing akira.x.kishimoto@jpmorgan.com

strategy briefing: Hiroshi Ito, Head of the Marketing Innovation Center, is JPMorgan Securities Japan Co., Ltd.

scheduled to speak. Kao has a track record of expanding its domestic share in

UV care and hair care by implementing evidence-based marketing. We will

focus on the company’s comments on whether such marketing strategies can

also be effective overseas going forward.

• July 15 (Wednesday) Nippon Paper Industries (3863, Underweight, Akiko

Kuwahara) President meeting: We will watch management’s comments on

(1) its strategy in the domestic business for passing through costs, including

fixed costs, into product prices, (2) progress on earnings reforms at its

Australian subsidiary, and (3) the recovery status following the accident at its

North American subsidiary’s plant.

• July 29 (Wednesday) Procter & Gamble (US; covered by Anderea

Teixeira) Apr–Jun quarter results (Cosmetics & Personal Care/Paper &

Packaging sector, Akiko Kuwahara): We will monitor P&G’s comments on

demand trends and raw material cost trends in the personal care categories and

regions where it competes with Kao and Unicharm.