NIKKEI 225 Index Earning Revision (Oct): Kioxia, Tokyo Electron, Fast Retailing, Terumo, Dena

Abstract: We analyzed the earnings revision of NIKKEI 225 component stocks for October 2026. The index's 2027E EPS rose 7.4% month on month to 3,373 yen from 3,141 yen, with 136 stocks revised up versus 56 revised down, while the index level itself was flat at 66,754. Individual stock EPS revisions contributed 51.5 yen to the index's EPS change, outpacing the 0.0% move in the index price. Kioxia led positive impact with a 16.3 yen contribution to index EPS on a 0.5% EPS increase, followed by Tokyo Electron at 15.2 yen on a 2.6% EPS increase and Fast Retailing at 9.71 yen on a 0.4% EPS increase. Terumo was the largest drag, cutting 9.30 yen from index EPS as its 2027E EPS fell 31.1%, while by percentage change Idemitsu Kosan rose 20.4% and Dena rose 18.4%.