Nomura and Daiwa CEOs said Japan’s stock rally should persist through 2027 but
cautioned AI-driven investment could reverse the trend. Nomura CEO Kentaro Okuda
said market levels, share prices and corporate earnings have been powered by AI
investment and that a shift in AI sentiment would be a major downside risk; he
forecasts the Nikkei 225 around 75,000 by year-end and above 80,000 by end-2027.
Daiwa CEO Akihiko Ogino expressed similar concern and expects the Nikkei 225 to
reach 80,000 this year.