Catalyst Calendar - Japan Equity July 2 Issue

研报英文原文证据摘录

Catalyst Calendar - Japan Equity July 2 Issue

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

02 July 2026

Catalyst Calendar - Japan Equity

July 2 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

• From July onward (estimated July–September): Shimadzu Corporation akira.x.kishimoto@jpmorgan.com

(7701, Overweight, Naoko Saito) Completion of Tescan acquisition and JPMorgan Securities Japan Co., Ltd.

announcement of goodwill amortization expenses: The company aimed to

complete the acquisition of Czech electron microscope manufacturer Tescan

by the end of June, but government review has been delayed. Upon completion

of the acquisition, goodwill amortization and intangible asset amortization

expenses for FY2026 and FY2027 will be disclosed (from FY2029, the

company plans to switch to IFRS and will not record goodwill amortization).

We believe a downward revision of FY2026 operating profit guidance could

be an end to negatives. We expect solid earnings for FY2026, supported by the

effects of new products.

• From July onward (estimated July–December): Olympus (7733,

Overweight, Naoko Saito) Completion of FDA re-inspection of the Aizu

plant: The company is awaiting an FDA visit and re-inspection of the Aizu

plant to lift the warning letter. In the best-case scenario, the re-inspection will

recognize Olympus’s actions over the past three years, allowing smooth