Stocks on the move (midday, the 12th): Ferrotec Corporation, JX Advanced Metals Corporation, Marumae Co.,Ltd.

Ferrotec Corporation <6890> shares briefly hit their daily limit. The stock has rallied since the company released Q&A materials from its June 4 earnings briefing, fueled by expectations of earnings outperformance driven by growth in thermomodules for optical communication transceivers. Despite subsequent profit-taking, reports that foreign brokerages raised their price targets buoyed sentiment. Sentiment was also boosted as the cumulative conversion ratio on its euro-yen convertible bonds maturing in 2028 topped 80% as of May, easing supply-demand concerns. Growing market preference for AI- and semiconductor-related shares provided additional tailwinds.

JX Advanced Metals Corporation <5016> shares rebounded sharply, snapping a three-session losing streak, after announcing on June 11 a phased expansion of production capacity for magnetic sputtering targets used in hard disk drive (HDD) media starting in the second half of fiscal 2026. The move drew buying from investors anticipating an earnings boost from increased supply volumes. As generative AI proliferation drives a surge in data handled by data centers, demand for HDDs?which play a critical role as storage devices?is expected to expand over the medium to long term. JX Advanced Metals, a long-time producer of magnetic sputtering targets essential for recording layer deposition, said it will progressively strengthen the supply framework at its Isohara plant. The company is also preparing capacity expansion plans for multiple products within its advanced materials business and will announce further details when finalized.

Marumae Co.,Ltd. <6264> shares briefly hit their daily limit after the company revised its full-year consolidated earnings and dividend forecasts upward for the year ending August 2026 after the close on June 11. Marumae raised its net sales forecast to 20 billion yen (up 75.4% year-on-year), up 2.3 billion yen, and lifted its net profit forecast to 3.3 billion yen (2.4 times the prior-year level), up 600 million yen. Orders have expanded rapidly amid a favorable semiconductor manufacturing equipment market, with the company seeing a strong demand outlook from customers. The year-end dividend forecast was raised by 7 yen to 26 yen. Adjusted for a 1-for-2 stock split on April 1, the full-year dividend forecast is 45 yen, up from 20 yen a year earlier on the same basis.

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Source: MINKABU PRESS

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