Japan materials and energy monthly: July 2026

研报英文原文证据摘录

Japan materials and energy monthly: July 2026

Global Markets Research

Japan materials and energy monthly: July 2026 17 July 2026

EQUITY: MATERIALS

We look for ongoing favorable conditions for semiconductor- Research Analysts

related business despite share price correction Japan chemicals & textiles

Shigeki Okazaki - NSC

shigeki.okazaki@nomura.com

Impact of renewed instability in Middle East warrants attention +81 3 6703 1170

Daiki Ban - NSC

Summary: We forecast growth in semiconductor-related subsectors such as wire & daiki.ban@nomura.com

cable, electronic materials, and glass & ceramics +81 3 6703 1124

We continue to highlight the wire & cable, electronic materials, and glass & ceramics

Yusho Yoshitake - NSCsubsectors. In wire & cable, we forecast continued growth in sales of optical products for yusho.yoshitake@nomura.com

AI applications. In electronic materials and glass & ceramics too, while share prices have +81 3 6703 1169

been correcting, we expect growth in sales of products for the semiconductor industry.

Takaomi Kono - NSCWith that said, the situation in the Middle East has become unstable again, and we takaomi.kono@nomura.com

caution that fluctuations in crude oil prices could affect earnings in sectors such as oil +81 3 6703 1207

refining, chemicals, and paper & pulp.

Shu Kanbe, CFA - NSC

Wire & cable: We expect Apr–Jun results to show favorable fundamentals shu.kanbe@nomura.com

We expect Apr–Jun results at the three major Japanese wire & cable companies to +81 3 6703 1214

provide evidence of favorable business conditions, and we maintain our bullish stance. Japan steel, nonferrous metals,

We estimate Apr–Jun operating profits of ¥85.0bn at Sumitomo Electric Industries [5802] wire & cable

(Buy), in line with the 10 July QUICK consensus forecast.