Tokyo Market News: investment market news from the Nikkei and Topix indices
Tokyo Market News: investment market news from the Nikkei and Topix indices

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    October 5, 2007

    Casio drops on decline in income

    Filed under: Companies, Matsushita Electric Industrial, Inpex, Aiful, AOC, Aeon, Acom, Promise, Mitsui & Company, Casio Computer

    Tokyo’s markets were mixed on Friday’s session.

    The Nikkei 225 dropped 0.16 percent to 17,065.04, but the Topix index added 0.08 percent to 1,656.91 while the Mothers market gained 3.98 percent to 848.78.

    Decliners on the session included Casio Computer (TYO: 6952), which makes a diverse range of devices including watches and mobile phones.

    Casio dropped 19 percent, its daily maximum, to ¥1,272 after it reported that net income in its fiscal first half dropped by 58 percent, spurring broker downgrades.

    Elsewhere in the electronics sector, Matsushita Electric Industrial (TYO: 6572; NYSE: MC) fell 3.3 percent to ¥2,080.

    Traders and the oil sector gained on higher oil prices.

    Trader Mitsui & Co. (TYO: 8031) was 0.7 percent higher to ¥2,800.

    In the oil sector, Inpex (TYO: 1605) gained 2.5 percent to ¥1.21 million, while AOC Holdings (TYO: 5017) added 2.6 percent to ¥1,769.

    Retailer Aeon (TYO: 8267) was 3 percent higher to ¥1,672 on a report that its net income in its fiscal first half added 2.8 percent and as it announced a higher dividend for the full year and a stock buyback worth up to ¥70 billion.

    There were also gains in the consumer finance sector.

    Promise (TYO: 8574) was up 4.6 percent to ¥2,960 on reports that it will post a higher net income in the current fiscal year than had been estimated.

    Acom (TYO: 8572; OTC: ACMU) added 5.2 percent to ¥2,840, while Aiful (TYO: 8515) jumped 17 percent to ¥2,115.





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