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Toyota Boshoku shares fall for first time in six days as brokerage cuts price target to 2,950 yen

Tue Apr 21, 2026 2:55 pm JST Catalyst

Toyota Boshoku Corporation <3116> shares fell for the first time in six sessions on Tuesday. Nomura Securities cut its price target for the stock to 2,950 yen from 3,600 yen on Monday, while maintaining its top "Buy" rating. Nomura lowered its profit forecast for the fiscal year ending March 2,027, citing revised seat sales projections and higher raw material costs. The firm also factored in potential automobile production disruptions starting in June due to supply chain issues stemming from the deteriorating situation in the Middle East. However, the brokerage sees limited medium-term downside, noting the stock trades at approximately 0.8 times its estimated price-to-book ratio for the fiscal year ending March 2,028.

Source: MINKABU PRESS

*Translated by generative AI. Click here for the original article.

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