The Point for Japan

Research evidence excerpt

The Point for Japan

Point |

Friday, 10 July 2026

Today's Results | Company | Industry | FX | Key Rating and Target Price Changes

Today's Results

Osaka Organic Chemical (4187.T) - Q2 in line but revised guidance still looks Click here to insert optional content

conservative; positive implications for TOK

Following the July 2 upward revisions to guidance, we view the share price

implications as neutral. Electronic materials revenue increased 13% QoQ in Q2

(primarily volume-driven growth) with OP rising from ¥1bn to ¥1.2bn. Within

electronic materials, semiconductor materials (resist inputs) and display materials

(display-related materials) saw revenue growth above the segment average (our

estimate). Electronic materials guidance is for a 5% revenue decline HoH in H2,

factoring in the dropout of one-off demand, but (particularly for semiconductor

materials) we have seen no actual deceleration in demand recently. Chemicals

revenue increased 38% QoQ Q2 (primarily price-driven growth) with OP rising from

¥0.4bn to ¥0.8bn; despite this Osaka Organic plans for a 5% revenue decline HoH

in H2 (on price adjustments due to input price declines).

Yuta Nishiyama

Company

Mitsubishi Motors (7211.T) - Signs MOU for mass production of humanoid

robots. Potential monthly production of 1,000 units. Positive for shares

After the July 9 market close, Mitsubishi Motors announced an MOU with

Highlanders, a University of Tokyo startup, for the mass production of humanoid

robots at its Kyoto plant. Production will begin in early 2027, with monthly

production capacity of c1,000 units prepared. Highlanders will handle

development and sales, while Mitsubishi Motors will leverage its automotive

production expertise in quality and other areas to provide production and

development support.