Nikkei 225 to reach 38,000 at the end of December 2024 – Nomura

Nomura’s Chief Equity Strategist, Yunosuke Ikeda, explains why he believes the Nikkei 225 will reach its highest levels by the end of 2024.

Continued profit growth at Japanese companies

Although we expect some headwinds from a weaker Dollar and stronger Yen as US interest rates decline, our main scenario is for continued profit growth at Japanese corporations in FY24 and FY25 as the spread of a price-hiking culture leads to improvement in profit margins. 

We forecast the Nikkei 225 at 38,000 at the end of December 2024.