古河電公記 三｜大幅安の朝、引けまでに八割を取り戻す｜2026.10.23
A strong intraday recovery, still below the previous close Furukawa Electric opened at JPY 2,700 at 09:12, 8.37% below the previous close of JPY 2,946.5. It recorded
A strong intraday recovery, still below the previous close
Furukawa Electric opened at JPY 2,700 at 09:12, 8.37% below the previous close of JPY 2,946.5. It recorded a low of JPY 2,655 at 09:26 and a high of JPY 2,905.5 at 15:21, closing at JPY 2,894.5 at 15:30. The open-to-close gain was 7.20%, but the close-to-close return remained −1.76%. It recovered 78.9% of the opening gap and finished in the top 4.39% of the daily range.
Volume reached 25,863,100 shares, 46.13% above 22 October's 17,698,400. This is a one-day comparison, not RVOL. The close was 3.47% above the recorded final VWAP of JPY 2,797.56. Daily data cannot establish the intraday VWAP path, continuous buying, or who traded. A 09:12 opening alone does not identify why trading began at that time.
PTS update added on 25 October｜23:58 JST observation
The supplied Kabutan screenshot (s.kabutan.jp, IMG_9786.png) shows JPY 2,900 at 23:58 on 23 October, a high of JPY 2,910 at 23:54, an unchanged low of JPY 2,821 at 21:37, volume of 79,700 shares, turnover of JPY 227 million and VWAP of JPY 2,856.39. The opening price remains JPY 2,871 at 17:01. The observed price was 0.19% above the TSE close and 1.53% above PTS VWAP. It rose JPY 40 from the earlier 23:07 observation, while cumulative volume increased by 19,500 shares. My updated reading is that PTS recovered the TSE close after an evening pullback. This improves the late-session observation but does not confirm a durable reversal or the next opening. The earlier record below is preserved; the screenshot is supplied evidence, not an independent market-data check, and 23:58 is not labelled a verified final close.
PTS and margin balances have different timestamps
At 23:07 JST, PTS stood at JPY 2,860, 1.19% below the TSE close and 0.39% above its own VWAP of JPY 2,848.93. Its high was JPY 2,905 at 17:23 and its low JPY 2,821 at 21:37. Volume of 60,200 shares was approximately 0.23% of daytime TSE volume; different sessions and participants prevent treating this as a forecast of the next opening. This is an observation, not the final PTS close.
As of 16 October, margin long balances increased by 1,211,700 shares (+7.14%) week on week, while margin short balances fell by 409,300 (−44.87%). The long/short ratio rose from 18.61 to 36.16. Both changes contributed. These balances do not show how positions changed during 23 October. Potential selling from long-position closures is a hypothesis, not an established cause of today's move.
My reading and the next test
The intraday rebound is clear; a durable reversal is unconfirmed. I will observe JPY 2,905.5–2,946.5, the JPY 2,894.5 close, the historical VWAP around JPY 2,797.56, and the JPY 2,700–2,655 opening/low area. These are historical references, not proven support or resistance. Holding above the next session's own opening price and live VWAP would strengthen the recovery interpretation; renewed lows with failed rebounds would weaken it.
The supplied PER of 19.39 is below its three-year average of 23.18, while PBR of 4.66 and PSR of 1.33 exceed their respective averages of 2.55 and 0.72. Definitions and earnings bases are unverified, so this does not establish cheapness.
Shared tables below preserve the supplied figures. Prices, timestamps, PTS, valuation and margin balances are my supplied market record and have not been independently checked for this entry. JapanNext is the stated source of the PTS data; a screenshot supplied on 25 October identifies Kabutan as the display provider for the TSE and PTS figures; the valuation and margin fields are outside that screenshot. No new company announcement, market catalyst or peer comparison was verified. All percentages are calculated from the recorded figures; this is research, not a trading recommendation.
