Catalyst Calendar - Japan Equity

研报英文原文证据摘录

Catalyst Calendar - Japan Equity

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

18 June 2026

June 18 Issue

Main Events Japan Equity Research

Japan Equity Research

AC• June 25 (Thursday) Oracle Japan (4716, Overweight, Matthew Japan Research

Henderson) 4Q FY2025 earnings announcement: We expect the EPS range japanresearch@jpmorgan.com

in guidance for FY2026 will be +6% to +10% YoY. If an increase in the AC Akira Kishimoto

dividend payout ratio is also announced, it would be a positive surprise. (81-3) 6736-8646

• June 26 (Friday) Asahi Intecc (7747, Overweight, Naoko Saito) Thailand akira.x.kishimoto@jpmorgan.com

factory tour: The company has made productivity improvement at its JPMorgan Securities Japan Co., Ltd.

factories one of the themes of its medium-term plan, and productivity has

continued to improve steadily in FY6/26. The tour will introduce specific

initiatives to improve productivity. As FY6/26 earnings have been quite strong,

the hurdle for FY6/27 is rising, but if the tour confirms the company’s strengths

in productivity improvement, we believe this could lead to an increase in sell-

side consensus earnings estimates.

• From June onward (estimated June–August): Shimadzu Corporation

(7701, Overweight, Naoko Saito) Completion of Tescan acquisition and

announcement of goodwill amortization expenses: The company is aiming

to complete the acquisition of Czech electron microscope manufacturer Tescan

by the end of June, but government review is delayed. With the completion of

the acquisition, goodwill amortization expenses and intangible asset

amortization expenses for FY2026 and FY2027 will be clarified (from

FY2028, the company plans to switch to IFRS and will not record goodwill

amortization). We expect negatives to end with a downward revision of