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
A monthly review of consensus earnings revisions for MSCI Japan constituents. Each issue estimates how the index's forward EPS changed over the month, and tabulates the stocks with the largest impact on index EPS alongside their EPS and revenue revisions. All issues of Index Earnings Revision Monthly →
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