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 18, 2007

    Tokyo’s Mothers market gains over 7 percent

    Filed under: Companies, Mizuho, Canon, Mitsubishi UFJ, Nomura, Seven & I, Credit Saison, Sumitomo Mitsui, J-Front Retailing

    Tokyo’s markets were higher Thursday.

    The Nikkei 225 gained 0.89 percent to 17,106.09 and the Topix index was 1.09 percent higher to 1,617.75, while the Mothers market jumped 7.22 percent to 883.84.

    Banks and brokers were higher after US bank JPMorgan Chase (NYSE: JPM; TYO: 8634) reported quarterly profits that were better than had been expected.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) added 2.3 percent to ¥1,040, while Sumitomo Mitusi (TYO: 8316) gained 3 percent to ¥848,000 and Mizuho Financial Group (TYO: 8411; NYSE: MFG) was 3.8 percent higher to ¥630,000.

    Broker Nomura (TYO: 8604; NYSE: NMR; SGX: N33) was up 1.5 percent to ¥1,984 and credit card issuer Credit Saison (TYO: 8253) added 2.5 percent to ¥3,230.

    Exporters did better after the yen weakened in relation to the US dollar.

    Camera maker Canon (TYO: 7751; NYSE: CAJ) gained 2.7 percent to ¥6,100.

    Retailers saw declines after the International Monetary Fund cut its prediction of Japanese economic growth from 2.6 percent to 2 percent for this year and from 2 percent to 1.7 percent for next year.

    Departments store operator J. Front Retailing (TYO: 3086) dropped 2 percent to ¥1,026 while Seven & I (TYO: 3382) fell 2.2 percent to ¥2,870.





    September 28, 2007

    Pharma mixed on news

    Filed under: Companies, Canon, Mitsubishi Estate, Chugai Pharmaceutical, Takefuji, Daiwa House, Daiichi Sankyo, Mitsubishi Heavy Industries, Sekisui House

    In Tokyo, the Nikkei 225 was 0.28 percent lower to 16,785.69 on Friday.

    The Topix index closed at 1,616.62, while the Mothers market was higher, ending the session at 732.72 for a gain of 1.7 percent.

    The pharmaceuticals sector was mixed.

    Chugai Pharmaceutical (TYO: 4519) was 2.6 percent lower to ¥1,897 after it said it would need to extend clinical tests for a new anemia drug, while Daiichi Sankyo (TYO: 4568) gained 4.6 percent to ¥3,450 on the news that the US Food and Drug Administration approved its new blood pressure medication.

    House builders were also mixed.

    While Daiwa House Industry (TYO: 1925) dropped 0.1 percent to ¥1,499, Sekisui House (TYO: 1928; OTC: SKHSY) was 0.6 percent higher to ¥1,446.

    In the real estate sector, Mitsubishi Estate (TYO: 8802) was down 3 percent to ¥3,290.

    Consumer lender Takefuji (TYO: 8564) added 5.8 percent to ¥2,280 after it announced a share buy-back.

    Camera and copier maker Canon (TYO: 7751; NYSE: CAJ) gained 2.6 percent to ¥6,270 on the possibility that it might also buy back shares.

    Construction equipment manufacturer Mitsubishi Heavy Industries (TYO: 7011) was 1.9 percent higher to ¥751 on the announcement that it will supply a Chinese nuclear facility.





    September 21, 2007

    Tokyo markets decline in slow trade

    Filed under: Companies, Sony, Canon, Toyota, Inpex, Sharp, Honda, Sumitomo Metal Industries, Aiful, Takefuji, Acom, Pioneer, UFJ Nicos

    Tokyo’s markets were lower in limited trade on Friday ahead of another three-day weekend.

    The Nikkei 225 was down 0.62 percent to 16,312.61, while the Topix index fell 0.94 percent to 1,552.07 and the Mothers market was 0.37 percent lower to 625.93.

    Exporters were lower as the yen gained value versus the US dollar and investors worried that sales in the US could decline.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 1.9 percent to ¥6,560 while Honda Motor (TYO: 7267; NYSE: HMC) was down 3.1 percent to ¥3,750.

    In the electronics sector, Sony was 1.8 percent lower to ¥5,340 while camera maker Canon (TYO: 7751; NYSE: CAJ) fell 2.2 percent to ¥6,150.

    Sharp (TYO: 6753) and Pioneer (TYO: 6773) were both lower after reports that each company will buy shares in the other.

    Sharp dropped 2 percent to ¥1,920 and Pioneer was 2.2 percent lower to ¥1,370.

    The consumer finance sector was lower for a second day in a row following Thursday’s announcement of losses by UFJ Nicos (TYO: 8583).

    Acom (TYO: 8572) dropped 8.8 percent to ¥2,335, while UFJ Nicos fell another 13 percent to ¥207, Aiful (TYO: 8515) slipped 13.7 percent to ¥1,494 and Takefuji (TYO: 8564) was 13.8 percent lower to ¥2,000.

    Commodities-related shares, however, saw gains as prices rose.

    In the oil sector, Inpex (TYO: 1605) gained 2.5 percent to ¥1.22 million, while Sumitomo Metal Mining (TYO: 5713) added 5.1 percent to ¥2,770.





    September 19, 2007

    Tokyo markets soar on interest rate decisions

    Filed under: Companies, Mizuho, Canon, Toyota, Inpex, Mitsubishi UFJ, AOC, Cosmo Oil, Nintendo, Sumitomo Mitsui, Itochu

    Tokyo’s equities markets saw significant gains Wednesday after the Fed’s move to cut US interest rates on Tuesdady and after the Bank of Japan voted Wednesday to hold its overnight rate at 0.5 percent.

    Most analysts had expected the Japanese central bank to keep rates at their present level.

    The Nikkei 225 added 3.67 percent to 16,381.54, while the Topix index gained 3.75 percent to 1,567.58 and the Mothers market was up 2.08 percent to 633.34.

    Banks were higher on the session.

    Mizuho (TYO: 8411; NYSE: MFG) was 4.5 percent higher to ¥632,000, while Sumitomo Mitsui (TYO: 8316) added 5.8 percent to ¥821,000 and Mitsubishi UFJ (TYO: 8306; NYSE: MTU) gained 6.1 percent to ¥1.05 million for its biggest one-day gain in nearly two years.

    Soaring oil prices sent shares related to that sector higher.

    AOC Holdings (TYO: 5017) was up 4.3 percent to ¥1,812, while refiner Cosmo Oil (TYO: 5007) was 6.3 percent higher to ¥578 after it said that International Petroleum Investment Co, Abu Dhabi’s state-controlled oil company, will become its biggest shareholder by purchasing a 20.85 percent stake.

    Trader Itochu (TYO: 8001), which deals in industrial fuel, added 6.7 percent to ¥1,328.

    Oil explorer Inpex jumped 8.9 percent to ¥1.22 million for its biggest one-day gain since it listed in 2006.

    Exporters also saw gains on hopes that the Fed’s move will support demand in the United States.

    Camera maker Canon (TYO: 7751; NYSE: CAJ) added 3.5 percent to ¥6,300, while Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) and Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) gained 5.4 percent to ¥58,600.





    September 18, 2007

    Banks, non-bank lenders see declines

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Mitsubishi UFJ, Aiful, Acom, Sumitomo Mitsui, Credia

    Tokyo’s markets were lower on Tuesday as they reopened after Monday’s Respect for the Aged Day holiday.

    The Nikkei 225 dropped 2.02 percent to 15,801.80, while the Topix index fell 2.19 percent to 1,510.95 and the Mothers market was 2.64 percent lower to 620.42.

    Banks were lower on continuing fallout from Northern Rock’s (LSE: NRK) problems in the UK and on expectations that several US investment banks will report quarterly losses later in the week.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) dropped 3.9 percent to ¥990,000, the first time it has fallen below the ¥1 million level in just over two years.

    Besides the general disorder in the banking sector, Mitsubishi UFJ was also sent lower by a report that its US unit was fined nearly $32 million in the US over inadequate protections against money laundering.

    Sumitomo Mitsui (TYO: 8316) was down 5.1 percent to ¥776,000 and Mizuho ( TYO: 8411; NYSE: MFG) fell 7.9 percent to ¥605,000.

    Non-bank lenders also had a bad day of it. Acom (TYO: 8572; OTC: ACMU) was 5.6 percent lower to ¥2,765, while Aiful (TYO: 8515) dropped 9.7 percent to ¥1,855 and Credia (TYO: 8567) plummeted 32 percent to ¥167 after it filed for bankruptcy protection, saying that it will have problems raising capital and repaying debt.

    Most exporters fared little better, but camera and office equipment manufacturer Canon (TYO: 7751; NYSE: CAJ) added 1.7 percent to ¥6,090 as it announced a share buyback worth as much as ¥50 billion.

    Carmaker Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was down 2.1 percent to ¥6,390 and electronics giant Sony (TYO: 6758; NYSE: SNE) fell 2.2 percent to ¥5,300 on fears that the US economy could be affected by problems in the credit markets.





    September 14, 2007

    Exporters gain on weaker yen

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Matsushita Electric Industrial, Mitsubishi UFJ, Nintendo, Sumitomo Mitsui, Sapporo

    The Tokyo equities markets were higher Friday after the yen weakened, sending export-focused stocks higher.

    The Nikkei 225 was 1.94 percent higher to 16,127.42.

    The Topix index gained 1.43 percent to 1,544.71, while the Mother’s market was up 1.34 percent to 637.25.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) was up 2.1 percent to ¥5,420.

    Digital camera maker Canon (TYO: 7751; NYSE: CAJ) added 2.7 percent to ¥5,990, while Matsushita Electric Industrial (TYO: 6572; NYSE: MC) gained 3.9 percent to ¥2,045 on an upgrade from “neutral” to “buy” from Goldman Sachs (NYSE: GS).

    Game console manufacturer Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) jumped 5.6 percent to ¥55,100 on sales of its Wii console, which sold many more units than Sony’s PlayStation 3 in August in the United States.

    Among carmakers, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was up 2.4 percent to ¥6,530 on reports that it will build its first new factory in Japan in nearly 20 years.

    Banks gained on a JP Morgan (NYSE: JPM; TYO: 8634) recommendation to buy.

    Sumitomo Mitsui (TYO: 8316) was 3.9 percent higher to ¥821,000, while Mitsubishi UFJ (TYO: 8306; NYSE: MTU) added 4 percent to ¥1.04 million and Mizuho (TYO: 8411; NYSE: MFG) was up 4.5 percent to ¥657,000.

    Brewer Sapporo (TYO: 2501) gained 7.9 percent to ¥742 on a possible bid from Steel Partners, a US hedge fund.





    September 10, 2007

    Nikkei, Topix each drop over 2 percent

    Filed under: Companies, Sony, Mitsui Fudosan, Canon, Mitsubishi UFJ, Nomura, Sumitomo Realty & Development, Tokyo Star Bank

    Equities markets in Tokyo were lower on Monday.

    The Nikkei 225 was 2.22 percent lower to 15,764.97.

    The Topix index dropped 2.04 percent to 1,525.22 and the Mothers market was down 4.13 percent to 675.71.

    The real estate sector was again instrumental in the declines as it fell 4.2 percent as a whole.

    Sumitomo Realty & Development (TYO: 8830) was 4.5 percent lower to ¥3,160 and Mitsui Fudosan (TYO: 8801; NAS: MDSFF) dropped 4.7 percent to ¥2,550.

    The financial services sector also saw declines once again.

    Broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was down 3.3 percent to ¥1,827, its lowest in almost two years.

    Banks were mixed, however.

    While Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 2.8 percent lower to ¥1.03 million, Tokyo Star Bank Ltd. (TYO: 8384) gained 14 percent to ¥334,000 on reports that Advantage Partners might be interested to the tune of ¥410,000 per share.

    Among export-focused sectors, the electronics sector was lower on broker downgrades.

    Consumer electronics and entertainment giant Sony (TYO: 6758; NYSE: SNE) dropped 6 percent to ¥5,300 after CLSA dropped its recommendation from “buy” to “underperform”, while camera manufacturer Canon (TYO: 7751; NYSE: CAJ) fell 3.7 percent to ¥6,050 on a downgrade from “overweight” to “underweight” from HSBC Securities (LSE: HSBA; NYSE: HBC; Euronext: HSBC; SEHK: 005).





    September 7, 2007

    Real estate still on decline

    Filed under: Companies, Mizuho, Canon, Toyota, Inpex, Mitsubishi UFJ, Sumitomo Metal Industries, Sumitomo Realty & Development, Japan Petroleum, Nintendo, Daiwa House, Sumitomo Mitsui

    Tokyo’s markets dropped again Friday on continuing worries about the condition of the property market there.

    The Nikkei 225 was 0.83 percent lower to 16,122.16, while the Topix index dropped 0.73 percent to 1,557.02 and the Mothers market dipped 0.93 percent to 704.82.

    The real estate sector was down 1.5 percent as a whole after the head of a major Japanese house builder said that the nation’s real estate price bubble could burst soon.

    Sumitomo Realty & Development (TYO: 8830) fell 1.8 percent to ¥3,310.

    In a related sector, house builder Daiwa House (TYO: 1925) was 1 percent lower to ¥1,435.

    Banks were lower as well, dropping 2.2 percent as a sector.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 1.9 percent to ¥1.06 million, while Sumitomo Mitsui Financial Group (TYO: 8316) fell 3 percent to ¥846,000 and Mizuho Financial (TYO: 8411; NYSE: MFG) dropped 3.4 percent to ¥678,000.

    Exporters fell on the news that US house foreclosures were at an all-time high in the US in the second quarter.

    Carmaker Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 0.5 percent lower to ¥6,600, while Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was down 1.5 percent to ¥52,900 on the Osaka exchange and camera maker Canon (TYO: 7751; NYSE: CAJ) dropped 2.3 percent to ¥6,280.

    But some commodities-related shares were higher on higher prices for oil and gold.

    Inpex (TYO: 1609) was up 1.9 percent to ¥1.07 million while Japan Petroleum Exploration (TYO: 1662) added 6.5 percent to ¥7,880.

    Sumitomo Metal Mining (TYO: 5713) gained 2.2 percent to ¥2,340.





    August 29, 2007

    Internet sector sees gains on sale news

    Filed under: Companies, Canon, Toyota, Mitsubishi UFJ, Nomura, Yahoo Japan, Sumitomo Realty & Development, Nintendo, Sumitomo Mitsui, Isuzu, Kakaku.Com

    The slide in consumer confidence in the US hurt exporters in Tokyo, where the Nikkei 225 dropped 1.69 percent to 16,012.83 and the Topix was down 1.71 percent to 1,557.55 on Wednesday.

    The Mothers market of small and mid-caps fell 2.09 percent to 716.06.

    A major exception to the declines was the internet sector.

    In the internet sector, price-comparison site Kakaku.Com (TYO: 2371) gained 15 percent to ¥314,000 after it said it will sell part of its travel information unit to Yahoo! Japan (TYO: 4689).

    Yahoo! Japan added 4.6 percent to ¥43,450 on the announcement.

    Manufacturers of motor vehicles were mixed on the session.

    While Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 2 percent to ¥6,530, truck maker Isuzu Motors (TYO: 7202) added 4.4 percent to ¥598 after it said it is planning to raise operating profit by expanding sales overseas.

    Camera maker Canon (TYO: 7751; NYSE: CAJ) fell 2.1 percent to ¥6,400, while in Osaka game console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was 3.7 percent lower to ¥52,000. Financial services also saw declines.

    Among banks, Mitsubishi UFJ (TYO: 8306; NYSE: MTU) fell 0.9 percent to ¥1.1 million, while Sumitomo Mitusi (TYO: 8316) was down 1.3 percent to ¥890,000.

    Broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was 1.6 percent lower to ¥1,987.

    The real estate sector was down 2.1 percent as a whole, while Sumitomo Realty & Development (TYO: 8830) dropped 3.3 percent to ¥3,760.





    August 24, 2007

    Mixed day for electronics

    Filed under: Companies, Canon, Mitsui OSK, Matsushita Electric Industrial, Nippon Yusen, Kawasaki Kisen, Honda, Toshiba, Nikon, Isuzu, Hoya, Hino Motors

    Tokyo’s markets were lower Friday.

    The Nikkei 225 fell 0.41 percent to 16,248.97, while the Topix index was down 0.37 percent to 1,585.85 and the Mothers market declined 1.79 percent to 726.77.

    The electronics sector was mixed.

    Matsushita Electric Industrial (TYO: 6572; NYSE: MC) fell 0.5 percent to ¥2,015, although Toshiba (TYO: 6502; LSE: TOS) added 1.4 percent to ¥1,068.

    Optical glass manufacturer Hoya (TYO: 7741; OTC: HOCP) dropped 3.4 percent to ¥3,930.

    Honda Motor (TYO: 7267; NYSE: HMC) was 0.5 percent lower to ¥3,700.

    Elsewhere in the auto sector, however, Hino Motors (TYO: 7205) and Isuzu Motors (TYO: 7202) were both higher on rumors that were denied by both parties that they would join to develop lower-emission diesel engines.

    Isuzu added 2 percent to ¥565, while Hino was 3.3 percent higher to ¥782.

    Shippers were higher on the session.

    Mitsui OSK Lines (TYO: 9104) was up 1.1 percent to ¥1,619, while Kawasaki Kisen Kaisha (TYO: 9107) gained 1.2 percent to ¥1,619 and Nippon Yusen (TYO: 9101) advanced 1.8 percent to ¥1,116.

    Camera makers were also higher, with Nikon (TYO: 7731) adding 2.7 percent to ¥3,370 and Canon (TYO: 7751; NYSE: CAJ) gaining 3.7 percent to ¥6,490.





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