The Point for Japan

A daily summary of Japanese equity developments, rate shifts, and FX trends, highlighting corporate reorganizations at Rakuten and AI infrastructure demand in the IT sector.

Key Takeaways

• 1.Rakuten Group is reorganizing its fintech business by making Rakuten Card and Rakuten Securities subsidiaries of Rakuten Bank, utilizing nonvoting shares to maintain listed status while realizing economic value.
• 2.Mitsubishi Heavy Industries (MHI) saw a significant drop in gas turbine market share to 9.1% in CY26 Q1, despite high total market demand, while competitors like Siemens Energy and GE Vernova gained share.
• 3.JPY supply/demand is improving due to increased foreign investment in Japanese equities and CA surplus repatriations, potentially supporting JPY-buying interventions below ¥155/$.

Table of Contents

• Company
• Industry
• Fixed Income
• FX
• Key Rating and Target Price Changes

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