Abstract: We analyzed consensus earnings revisions for MSCI Japan index constituents for August 2026. The index rose 3.6% over the month, from 2,456 to 2,545, while the index's 2027E EPS increased 3.6% month-on-month from ¥146.6 to ¥151.8, with 135 stocks revised up versus 31 revised down. The largest positive contributor to index EPS was Kioxia (+¥3.73 to index EPS), followed by Orix (+¥0.35) and Advantest (+¥0.31), while JFE (-¥0.34) and Daiichi Sankyo (-¥0.13) were the top detractors. Among individual stock EPS revisions, the biggest upgrades were Rakuten (+24.4%), Yamaha Motor (+23.4%), and Kawasaki Kisen Kaisha (+20.8%), while the steepest cuts were at MS&AD Insurance (-4.47%), Nissan Motor (-3.53%), and Nexon (-3.09%). On revenue estimates, Concordia Financial (+9.89%) and Kokusai Electric (+9.76%) led upgrades, while Daiwa Securities (-16.2%) and Sumitomo Mitsui Financial (-15.5%) saw the sharpest reductions.
Yamaha Motor, Orix, Advantest, Nissan Motor, Subaru, Kioxia
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