Sumitomo Electric Industries, Ltd.

The Nikkei Average edged higher, closing at 66,422.60 yen, up 307 yen from the previous trading day. After Google parent Alphabet raised its capital investment plan, so-called pick-and-shovel stocks that provide semiconductor components, manufacturing equipment, and cables needed for AI data centers were sought, with Advantest and Sumitomo Electric Industries posting sharp gains. On the other hand, higher crude oil prices amid Middle East tensions and rising yen interest rates weighed on the market, and on the Tokyo Stock Exchange Prime Market, declining issues outnumbered advancing ones. TOPIX rose 0.51% to 4,053.88 points, and trading value on the Prime Market was 8.56635 trillion yen.

The global automotive wiring harness market is projected to grow from USD 42.95 billion in 2026 to USD 49.29 billion by 2033, a compound annual growth rate of 2.0 percent. The expansion is driven by the industry's shift from distributed to zonal electrical and electronic architectures, which can reduce wire length and harness complexity by 20 to 30 percent while increasing demand for higher-value, high-voltage, and high-bandwidth harness systems. Wires remain the largest component segment, with copper wires accounting for more than 60 percent of market value, and optical fiber is the fastest-growing material segment for internal combustion engine vehicles as data transmission needs rise. Asia Pacific is expected to lead the market through 2033, supported by large-scale vehicle production in China, Japan, South Korea, and India, where economical passenger cars represent over 80 percent of regional output. Key companies assessed in the report include Yazaki Corporation, Sumitomo Electric Industries, Aptiv, Furukawa Electric, Leoni AG, and Lear Corporation.

NVIDIA CEO Jensen Huang met with executives from several Japanese suppliers at a Tokyo izakaya, signaling the company's deepening reliance on Japan's industrial base for its AI expansion. The gathering included Kioxia Holdings, Shin-Etsu Chemical, Tokyo Electron, Ajinomoto, Sumitomo Electric Industries, Taiyo Yuden, Panasonic Holdings, and Nitto Boseki, spanning flash memory, silicon wafers, manufacturing equipment, chip-packaging film, fiber-optic cables, capacitors, and ultra-thin glass cloth. Huang stated that Japan provides foundational technologies for semiconductor manufacturing, and Tokyo Electron's CEO noted NVIDIA has substantial expectations for the Japanese supply chain. The meeting underscores the critical role of these specialized suppliers as NVIDIA, valued at more than $5.1 trillion, scales its AI infrastructure.

Sandisk stock jumped 6.4% after Reuters reported the company signed a multi-year deal to supply NAND flash memory to Meta Platforms. Meta is also reportedly buying DRAM from Samsung and fiber optic cables from Sumitomo Electric as it builds out its AI computing infrastructure. Broadcom and Taiwan Semiconductor Manufacturing stocks also rose, as they are involved in designing and manufacturing Meta's Iris AI chips. None of the companies have officially confirmed the report. Meta is planning to spend as much as $145 billion on AI infrastructure this year.

On July 8, multiple research firms maintained their top investment ratings on 13 stocks and raised their target prices. Morgan Stanley MUFG Securities raised its target price for Kumagai Gumi from 2,200 yen to 2,250 yen, for Penta-Ocean Construction from 2,400 yen to 2,500 yen, and for Infroneer Holdings from 2,850 yen to 3,150 yen, maintaining bullish ratings on all three. Goldman Sachs raised its target price for Sumitomo Electric Industries from 3,125 yen to 3,400 yen, for Hitachi from 6,100 yen to 6,300 yen, for Mitsubishi Electric from 7,000 yen to 7,400 yen, for Panasonic Holdings from 4,220 yen to 5,000 yen, and for Anritsu from 4,700 yen to 5,300 yen, maintaining buy ratings. Tokai Tokyo Intelligence Laboratory raised its target price for NHK Spring from 3,060 yen to 4,480 yen, and for MS&AD Insurance Group Holdings from 6,000 yen to 6,100 yen, maintaining bullish ratings. Nomura Securities raised its target price for As One from 3,400 yen to 3,500 yen, and for Pilot Corporation from 1,867 yen to 1,950 yen, maintaining buy ratings. Nikko Securities raised its target price for Chubu Electric Power from 3,000 yen to 3,500 yen, maintaining a bullish rating.

The global silver-based brazing alloys market is projected to grow from $2.98 billion in 2026 to $3.8 billion by 2030, at a compound annual growth rate of 6.3%, according to a new report from ResearchAndMarkets.com. The market had already risen from $2.8 billion in 2025 to $2.98 billion in 2026, a 6.6% increase, driven by demand from the automotive sector, electrical equipment, aerospace, household appliances, and infrastructure. Escalating vehicle production, including the shift to electric vehicles, and expansion of automotive maintenance and repair services are key growth factors. North America led the market in 2025, but Asia-Pacific is expected to see the fastest growth. Major players include Compagnie de Saint-Gobain, Linde, Sumitomo Electric Industries, Umicore, and voestalpine.