✅Data transcription and summary are posted in the summary ▼Please subscribe and like the channel▼ 👉 / @nikkeicnbc [The stock prices, indexes, etc. displayed on the screen are from the time of broadcast on December 18, 2024] "Ask a Popular Analyst: Industry Analysis of Trading Companies" Commentary: Narita Yasuhiro (Nomura Securities Analyst) Moderator: Okamura Tomoya (Nikkei CNBC) 00:00 Trading company sector to taper off in 2024 ・Expectations for Buffett to increase purchases are slowing down at present ・Commodity market conditions (coking coal, iron ore, crude oil) are sluggish ・Relative stock prices (vs. TOPIX) of the trading company sector have fallen ・North American business slows down for non-resources due to US interest rate cuts, etc. 01:38 Trading company sector performance ・Profits have fallen for almost all companies ・Trends in parent company shareholder profits excluding one-off profits and losses ・LNG profits shifted to the second half also has an impact 03:00 Sluggish stock prices, points that individual investors should be aware of ・Uncertain environment continues with US-China conflict and Ukraine etc.04:06 Negative aspects of the Trump administration for trading companies ・Falling energy prices may also have a negative impact ・Chinese economy should also be watched04:53 Do trading companies appear to be undervalued due to their progressive dividends?・Average dividend yields for most are around 4%, a delicate line05:52 Individual stock selection ・Focus on defensiveness ・Toyota Tsusho's strong performance stands out ⇒ Does not do resources ・Itochu also doing well ⇒ Many stable businesses in Japan ・Mitsui & Co., Mitsubishi, Sumitomo, Sojitz, and Marubeni struggling07:10 [Stock to watch ① Itochu] Strength in domestic demand ・Strength in domestic demand such as convenience stores and food, also making new investments ・Aiming for 10% profit growth per year08:05 Itochu is resistant to deterioration in the external environment ・One-off profits and losses for the top five companies over the past 11 years 08:55 [Stock to watch ② Toyota Tsusho] Toyota's production recovery ・1H ended with increased profits, Toyota's production recovering from 3Q ・Sales in emerging countries such as Africa expected to recover11:00 Comparing the total shareholder return yields of trading companies・Itochu 4.0% (dividend yield 2.6%)・Marubeni 5.2% (3.9%)・Mitsui & Co. 7.4% (3.1%)・Sumitomo 5.1% (3.9%)・Mitsubishi 3.9% (3.9%)・Sojitz 8.5% (4.8%)・Toyota Tsusho 4.0% (4.0%) 11:38 [Stock to watch③Mitsui & Co.] Great capacity for share buybacks・Actively returning profits, 400 billion yen worth of share buyback this year as well12:18 Is there a possibility that the direction of share buybacks will change in the future・Mitsubishi: Balance cash in/out → If there is a sense of surplus, there is a possibility of share buybacks [Market outlook]・Maki Ohkawa (Sony Financial Group) • [Maki Ohkawa - USD/JPY exchange rate after FOMC and BOJ meetings] Yen weakening at present/Prediction came true...・Itoshima Takatoshi Itoshima (Pictet Japan) • [Itoshima Takatoshi: As TSE reforms progress, Japanese stocks become even more attractive] The model stocks published by the TSE are overwhelming... ・Sakagami Ryota (Citigroup Securities) • [Sakagami Ryota: Be bullish on Japanese stocks from mid- to late-2020 next year] The Nikkei average stock price is 46,000 yen... ・Hiroki Takashi (Monex Securities) • [Hiroki Takashi: Outlook for Japanese stocks towards the end of the year] Will the Nikkei average recover to 40,000 yen? For the first time since the financial results... ▼Finance and economic commentary▼ ・Suzuki Toshiyuki (Global market economist) • [Suzuki Toshiyuki: Reading the December FOMC] The Fed cuts interest rates by 0.25%, US stock prices fall... ・Mabuchi Haruyoshi (Bouquet de Fleurette) • [Mabuchi Haruyoshi: Is the economy and the stock market a zoo? 】The canary in the coal mine for the US economy/Japan stock market crash... ・Okazaki Ryosuke, commentator • [Okazaki Ryosuke speaks out to Prime Minister Ishiba and Japanese politicians] The Bank of Japan's monetary policy and interest rate hikes are the only... ・Nagahama Toshihiro (Dai-ichi Life Research Institute) • [Nagahama Toshihiro considers the source of funds for the '1.03 million yen barrier'] The reasons for the Democratic Party for the People's proposal/Why Japan... ▼New NISA related▼ ・Yorifuji Taiki (Money&You CEO) • [New NISA/Yorifuji Taiki thoroughly examines the relationship between the accumulation date and investment performance] For long-term investment... ・Okawa Tomohiro, commentator • [New NISA in 2025/investment tactics to consider before the end of the year] Okawa Tomohiro/Investment trust... ▼Cryptocurrency/Bitcoin▼ ・Hasegawa Tomoya (Bitbank) • [What is the Bitcoin version of Trump Trade?] We ask an analyst from the perspective of a stock investor/Dark... 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