Best Tokyo Stocks to Buy Today (December 9, 2025): 9 Japan Market Ideas as the Nikkei Hovers Near Record Highs

Japan’s stock market is trading near all‑time highs again today (December 9, 2025), with the Nikkei 225 sitting just above 50,600 and the Topix around 3,380–3,390 in afternoon trade, only slightly lower on the day. ^[1]

This comes one day after a powerful offshore earthquake struck Japan’s northeast, triggering tsunami warnings, injuring a few dozen people, and briefly knocking out power – yet causing limited structural damage. Markets have largely shrugged off the quake, even as bond yields and Fed‑rate jitters keep risk appetite in check. ^[2]

At the same time:

Global investors have poured billions into Japanese equities in 2025 as reforms and corporate governance changes improved shareholder returns. ^[3]
Roughly 40–50% of Tokyo‑listed companies still trade below book value, even after this rally, highlighting a deep value universe beneath the headline indices. ^[4]
The broader Japan market trades at an estimated P/E of about 16.7 (as of December 8) – slightly above its five‑year average, but generally cheaper than U.S. benchmarks. ^[5]

Against this backdrop, today’s best stocks to watch on the Tokyo Stock Exchange cluster around a few powerful themes:

AI chips and semiconductor equipment
Physical‑AI robotics and factory automation
Nuclear & defense‑linked energy transition
Defensive healthcare and undervalued cyclicals

Below is a strictly informational look at nine notable Tokyo stocks that stand out today (December 9, 2025) based on fresh price action, current news, and recent analyst or company guidance.

⚠️ Important: Nothing here is personal investment advice. Markets are volatile, especially after big moves. Always do your own research and consider speaking with a licensed adviser before investing.

1. Lasertec (6920.T) – High‑Growth EUV Inspection Champion

Why it’s on the radar today

Lasertec shares are among the top gainers in the Nikkei 225 today, up around 3–4% and featuring in the Financial Times’ list of biggest daily movers. ^[6]
Reuters notes that semiconductor‑related stocks are limiting the Nikkei’s losses today, with chip‑testing names such as Lasertec rising even as the index trades slightly lower. ^[7]

Business & structural story

Lasertec designs cutting‑edge inspection and metrology systems for semiconductor manufacturers. It effectively dominates the ultra‑specialized market for EUV mask and mask‑blank inspection, holding close to 100% market share in that niche, according to independent research. ^[8]

These tools are critical for the most advanced chips used in data‑center AI, GPUs, and high‑end smartphones. As long as chipmakers keep pushing to smaller nodes, Lasertec sits in the middle of that capex cycle.

Recent news & forecasts

Dividend‑focused research calls Lasertec a “dividend champion”, highlighting double‑digit annual dividend growth over the past decade. ^[9]
On the flip side, Jefferies recently downgraded the stock to Hold and lifted its price target to ¥26,000, warning that today’s valuation already prices in a lot of growth. ^[10]

Takeaway: Lasertec is a classic high‑beta, high‑valuation AI infrastructure play. It can keep benefiting if AI and EUV investments remain strong, but any slowdown in leading‑edge capex or further valuation compression is a major risk.

2. Disco Corporation (6146.T) – Precision Tools Riding the Chip Bounce

Why it’s moving

Disco is one of the single biggest gainers on the Nikkei 225 today, rising almost 5% and topping the FT’s market‑movers list. ^[11]
Reuters reports that chip‑tool makers including Disco are up strongly today, helping to offset weakness in heavyweight consumer names. ^[12]

What the company does

Disco specialises in wafer sawing, grinding, and dicing equipment – the machines that cut silicon wafers into actual chips. It’s effectively a “picks and shovels” supplier to the global semiconductor industry, with high margins and a reputation for precision.

Recent fundamentals

Company filings show that Disco raised interim dividends and provided earnings guidance for the nine months ending December 31, 2025, with net income up mid‑single digits year‑on‑year. ^[13]
Equity research notes some questions around the “quality” of earnings and recent volatility in the share price – the stock dropped sharply earlier this autumn before bouncing back. ^[14]

Takeaway: Disco offers direct leverage to wafer‑fab and packaging capex, and today’s move reflects renewed optimism in AI‑related chip demand. But after a big one‑day pop, it’s inherently volatile and sensitive to the global chip cycle.

3. Tokyo Electron (8035.T) – Core Japan AI‑Chip Equipment Blue‑Chip

Why it’s interesting today

Reuters and other market reports show Tokyo Electron trading modestly higher today, adding about 0.5–1% as investors selectively return to chip names. ^[15]
The stock recently traded in the ¥33,000–34,000 range, recovering from a sharp sell‑off earlier in the year. ^[16]

Business profile

Tokyo Electron is Japan’s flagship semiconductor equipment maker, supplying etching, deposition, and cleaning tools to leading global foundries and memory makers. It’s one of the most important AI‑supply‑chain plays in the Nikkei.

Latest guidance & analyst view

In its most recent quarterly update, the company reaffirmed a gradual recovery in semiconductor demand, projecting a shift back toward memory investments in the second half of its current fiscal year. ^[17]
A recent analyst summary notes that consensus price targets have been raised to around ¥34,700, reflecting improved revenue expectations and margin outlook. ^[18]

Takeaway: Tokyo Electron is widely treated as a core long‑term holding for investors who want exposure to AI and advanced chips without picking individual chip designers. However, with forward P/E estimates around 30x and a price‑to‑book above 8x, this is not a cheap stock, and it will be sensitive to any slowdown in AI capex or export‑control shocks. ^[19]

4. Yaskawa Electric (6506.T) – Robotics Leader at the Heart of “Physical AI”

Today’s move

Yaskawa is up more than 4% today, appearing prominently among the Nikkei’s top daily gainers. ^[20]
Over the past week, Japanese market commentary has highlighted double‑digit surges in robot makers like Yaskawa, driven by an “AI‑robotics rotation” from chip stocks into automation names. ^[21]

What’s driving the story

Yaskawa is a global industrial robot and motion‑control specialist, supplying robots and servomotors to factories worldwide.
Its latest integrated report highlights the upcoming “MOTOMAN NEXT” robot line, combining AI, robotics, and advanced motion technologies, alongside an expansion of production capacity with a new robot plant in Japan. ^[22]

Fresh catalysts

UBS upgraded Yaskawa to “Buy” in October, significantly lifting its price target to ¥5,000 on the back of strong robotics demand and a recovering inverter business. ^[23]
Just days ago, Yaskawa and SoftBank announced a collaboration on “Physical AI” robots for office environments, with joint demonstrations at the International Robot Exhibition (iREX) 2025 in Tokyo. ^[24]

Takeaway: Yaskawa is a pure‑play beneficiary of AI‑driven factory automation and Japan’s chronic labour shortages. Recent upgrades and strategic partnerships give the bull case momentum – but the stock has run hard, and any cyclical downturn in capital spending could quickly reverse the gains.

5. Fanuc (6954.T) – Robotics Giant Surfing the Nvidia Partnership Wave

Why it’s still hot

Fanuc is also near the top of today’s Nikkei gainers, up close to 4%. ^[25]
Last week, robot makers Fanuc and Yaskawa surged double digits after new AI‑robotics news, helping lift the Nikkei to fresh highs. ^[26]

Key recent catalyst

Fanuc recently announced a partnership with Nvidia to build industrial robots powered by so‑called “physical AI” – robots that pair advanced AI models with real‑world manipulation and voice‑command capabilities. ^[27]
This news triggered a multi‑day rally in Fanuc and sparked a broader rotation into Japan’s robotics complex, according to multiple market commentaries. ^[28]

Investment angle

Fanuc combines:

A dominant global position in factory robots and CNC controllers
Japan’s push to automate and re‑industrialize
Direct exposure to the AI‑hardware build‑out via its tie‑up with Nvidia

But like Lasertec and Tokyo Electron, Fanuc now trades at premium valuations after a sharp move, and earnings will need to keep up with AI‑hype expectations to justify today’s price.

6. Kawasaki Heavy Industries (7012.T) – Defense, Hydrogen and Energy Transition

Why it stands out today

Kawasaki Heavy is another top Nikkei gainer today, up around 4–5%, according to FT market data. ^[29]

Three overlapping themes support the story:

Defense orders and aerospace backlog
- In its latest earnings call, Kawasaki raised its FY2025 forecast for orders by ¥30 billion, citing stronger demand from Japan’s Ministry of Defense and Boeing. ^[30]
- Rating agencies and analysts note that this order momentum is feeding into higher net‑sales forecasts, with new guidance around ¥2.34 trillion, above earlier estimates. ^[31]
Hydrogen and green‑gas engines
- The company recently unveiled the world’s first commercial 30% hydrogen‑co‑firing gas engine, building on its long‑running “Kawasaki Green Gas Engine” platform with over 240 orders to date. ^[32]
- Although an earlier Australia‑Japan hydrogen project has been scaled back, Kawasaki continues to reposition toward lower‑carbon domestic hydrogen solutions. ^[33]
Potential missile‑engine collaboration
- Reuters reported that Kawasaki is in discussions to co‑develop engines for Germany’s Taurus cruise missiles, underscoring Japan’s gradual shift toward a more assertive defense posture. ^[34]

Takeaway: Kawasaki Heavy offers a leveraged play on Japan’s rearmament, energy transition, and infrastructure investment – all themes that resonate after the recent quake and amid rising geopolitical tensions. However, political and project‑execution risks are significant, and earnings can be cyclical.

7. Tokyo Electric Power Company Holdings (TEPCO, 9501.T) – Nuclear Restart Wild Card

Today’s price action

TEPCO shares are up nearly 3% today, placing the utility among the top Nikkei gainers. ^[35]

Why the market cares right now

A Niigata prefectural governor has approved the restart of two reactors (Units 6 and 7) at Kashiwazaki‑Kariwa, the world’s largest nuclear power plant, operated by TEPCO. ^[36]
Regional assembly deliberations are under way, with a vote expected by December 22, potentially enabling TEPCO’s first reactor restart since Fukushima if inspections proceed as planned. ^[37]
Analysts estimate that bringing even a single unit back online could cut Japan’s LNG imports by around 1 million tonnes per year, easing fuel costs and boosting TEPCO’s earnings power. ^[38]

Risks & controversies

Japan’s nuclear regulator recently flagged security‑document mishandling at Kashiwazaki‑Kariwa, highlighting ongoing governance and compliance concerns at TEPCO. ^[39]
Public trust remains fragile after the 2011 Fukushima disaster, and local opposition or further safety issues could delay or derail restarts. ^[40]

Takeaway: TEPCO is a high‑risk, high‑reward turnaround and energy‑transition story. A successful restart could transform earnings and cash flow in coming years – but regulatory, political, and reputational risks are substantial.

8. Shionogi & Co. (4507.T) – Healthcare Name with Upgraded Guidance

Why it’s notable today

Shionogi is up more than 4% today, putting it firmly in the Nikkei’s top‑gainer group. ^[41]

Fundamental backdrop

In its first‑half FY2025 results (through September 30, 2025), Shionogi raised full‑year forecasts for revenue and profit, citing stronger royalty income and robust growth in its HIV franchise (via ViiV Healthcare) and other international operations. ^[42]
Presentation materials also highlight steady growth in anti‑infective drugs such as cefiderocol and continued contributions from COVID‑related treatments like ensitrelvir (Xocova). ^[43]

Why investors like it in this macro environment

With markets fretting over Fed policy, BOJ rate hikes, and earthquake‑related risks, defensive growth in healthcare has renewed appeal. ^[44]
Shionogi offers exposure to global specialty pharma and royalty streams rather than purely domestic consumption, which can help diversify a Tokyo‑focused portfolio.

Takeaway: Shionogi combines earnings upgrades, a solid pipeline, and defensive characteristics. Valuation is not rock‑bottom, but the stock looks more reasonably priced than many AI‑themed names after today’s move.

9. Konica Minolta (4902.T) – Deep Value Name Leading Today’s Rally

Today’s performance

Konica Minolta is the single biggest percentage gainer in the Nikkei 225 today, up just over 5% by early afternoon. ^[45]

Where the story stands

The company – best known for office equipment, imaging systems, and optical technologies – has had a tough few years, with flat to declining revenues, but its latest quarterly EPS came in at roughly ¥31 for the September 2025 quarter, reflecting improving profitability. ^[46]
Analyst‑compiled forecasts suggest revenue may drift slightly lower over the next few years, but earnings are expected to grow sharply from a depressed base, with one service projecting near 70% average annual EPS growth (off low levels). ^[47]

Valuation angle

After years of underperformance, Konica Minolta trades at modest price‑to‑book and P/E multiples versus more glamorous tech names, yet has ample retained earnings and improving cash‑flow metrics. ^[48]

Takeaway: For investors comfortable with turnaround risk, Konica Minolta represents a classic value‑plus‑recoveryidea – and today’s strong move may be an early sign that the market is starting to re‑rate the story. But execution risk remains real, and earnings are still sensitive to global office‑equipment demand and digital‑transition pressures.

Big Picture: Why Tokyo Stocks Still Matter into 2026

Even after a roughly 30%+ surge in Japanese stocks this year, outpacing the S&P 500 in dollar terms, strategists argue that Japan’s equity story is more than just a short‑term trade. ^[49]

Key structural drivers include:

Governance reforms and capital‑efficiency push
- The Tokyo Stock Exchange has been pressing companies with chronically low price‑to‑book ratios to boost ROE via buybacks, higher dividends, and better balance‑sheet management. ^[50]
Reflation and BOJ normalization
- Wages and prices are finally rising after decades of deflation, and bond yields are approaching 2% on the 10‑year JGB, with markets expecting further modest tightening by the BOJ. ^[51]
Sector rotation within Japan
- Leadership has shifted repeatedly in 2025 – from exporters to megabanks, from chipmakers to robotics and energy/infrastructure in recent weeks. ^[52]

For global investors, that suggests building a diversified Japan allocation, mixing:

High‑growth AI & chip‑equipment names (Lasertec, Disco, Tokyo Electron)
AI‑robotics leaders (Yaskawa, Fanuc)
Energy and infrastructure stories (Kawasaki Heavy, TEPCO)
Defensive or value‑oriented names (Shionogi, Konica Minolta, and selectively insurers or banks)

rather than betting everything on a single theme.

How to Use This List (Responsibly)

If you’re considering Tokyo stocks today:

Match ideas to your risk tolerance
- Aggressive / growth: Lasertec, Disco, Tokyo Electron, Yaskawa, Fanuc
- Balanced: Kawasaki Heavy, TEPCO (with caution), Shionogi
- Conservative / value‑oriented: Konica Minolta, large insurers or megabanks (not covered in detail here)
Watch near‑term catalysts
- Fed and BOJ meetings: Will determine how far yields and the yen move, affecting banks, exporters, and rate‑sensitive sectors. ^[53]
- Earthquake‑related policy and rebuilding: Could support construction, materials, and some insurers, but also highlight catastrophe‑risk for the sector. ^[54]
- Company‑specific news: Reactor‑restart decisions (TEPCO), new AI partnerships (Fanuc, Yaskawa), updated chip‑equipment orders (Tokyo Electron, Lasertec, Disco).
Mind currency and access
- For non‑Japanese investors, returns will depend heavily on yen moves, which some analysts describe as a “ticking time bomb” given current valuations and rate differentials. ^[55]
- Many of these companies are also available through ADRs or Japan‑focused ETFs, which may be more practical than buying individual TSE listings for some investors.

Final Disclaimer

This article is based on public information available as of December 9, 2025 and reflects general market commentary, not personalized financial advice. Prices, valuations, and news can change quickly, especially around major macro events.

Always: