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 29, 2007

    Mothers market up 3.7 percent on session

    Filed under: Companies, Mizuho, Toyota, Nissan, Mitsubishi UFJ, Honda, Sumitomo Mitsui, Calsonic Kansei

    Tokyo’s markets gained on Monday.

    The Nikkei 225 added 1.17 percent to 16,698.08, while the Topix index had its best day in a month with a gain of 2.07 percent to 1,606.49.

    The Mothers market of small and mid-caps was up 3.7 percent to 965.17.

    Carmakers were higher after Nissan (TYO: 7201) said that operating profit in its fiscal second quarter was up by 12 percent despite analyst sentiment that profits would be down in the quarter.

    Nissan added 14.2 percent to ¥1,283, while Honda Motor (TYO: 7267; NYSE: HMC) and Toyota Motor (NYSE: 7203.T; NYSE: TM; LSE: TYT) each gained 3 percent, to ¥4,160 and ¥6,430 respectively.

    In addition, Calsonic Kansei (TYO: 7248), which makes parts for Nissan, added 6.9 percent to ¥620.

    Banks were higher after US mortgage lender Countrywide Financial (NYSE: CFC) predicted that it would return to profit in the fourth quarter, raising sentiment that the worst of the subprime crisis could be over.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was up 4.7 percent to ¥1,091 while Mizuho Financial (TYO: 8411; NYSE: MFG) was 5.6 percent higher to ¥639,000 and Sumitomo Mitsui (TYO: 8316) added 9.5 percent to ¥919,000.





    October 26, 2007

    Traders up on rise in oil prices

    Filed under: Companies, Sony, Toyota, Nissan, Inpex, Honda, Mitsubishi, Mitsui & Company, Ricoh

    Tokyo’s markets made gains Friday.

    The Nikkei 225 was up 1.36 percent to 16,505.63, while the Topix index added 1.67 percent to 1,573.97 and the Mothers market jumped 4.73 percent to 930.77.

    With oil prices in record territory above $90 per barrel, traders saw gains.

    Mitsubishi Corp. (TYO: 8058; OTC: MSBHY) was 4 percent higher to ¥3,640 while Mitsui & Co. (TYO: 8031) gained 5.6 percent to ¥3,030.

    In the oil sector, Inpex (TYO: 1605) added 3.3 percent to ¥1.27 million.

    Automobile manufacturers were higher after Honda (TYO: 7267; NYSE: HMC) reported that profits were up by 63 percent in its fiscal second quarter and raised its full-year income outlook by 8 percent.

    Honda’s shares added 8.9 percent to ¥4,040 on the news, while Nissan Motor (TYO: 7201) was up 3.2 percent to ¥1,124 and Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 4.9 percent higher to ¥6,240.

    Quarterly results also helped Sony (TYO: 6758; NYSE: SNE), which added 8.8 percent to ¥5,560 after fiscal second quarter profits were higher than expected and Nomura raised its recommendation on the electronics and entertainment conglomerate from “neutral” to “strong buy”.

    On the other hand, office equipment manufacturer Ricoh (TYO: 7752) fell 4.2 percent to ¥2,280 after half-year income results were poorer than expected and Credit Suisse dropped its recommendation to “neutral”.





    October 22, 2007

    Mothers market adds 1 percent amid declines

    Filed under: Companies, Toyota, Mitsubishi UFJ, Honda, Komatsu, Aiful, Acom, Nintendo, Sumitomo Mitsui

    In Tokyo on Monday the Nikkei 225 fell 2.24 percent to 16,438.47 and the Topix index dropped 1.77 percent to 1,563.07, but the Mothers market of small and mid-caps managed a 1.04 percent gain to 911.42.

    Exporters dropped as the yen strengthened in relation to the US dollar.

    Construction machinery manufacturer Komatsu (TYO: 6301) was 2.9 percent lower to ¥3,720 after its US rival Caterpillar (NYSE: CAT) cut its profits outlook on a downturn in sales in the United States.

    Game console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was also 2.9 percent lower to ¥64,800, while automobile manufacturers Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) and Honda (TYO: 7267; NYSE: HMC) each fell 2.1 percent, to ¥6,120 and ¥3,750 respectively.

    It was Honda’s lowest close in a month and a 14-month low for Toyota.

    Banks were still in the doldrums, with Mitsubishi UFJ trading even at ¥1,027 after early-session declines and Sumitomo Mitsui down 0.6 percent to ¥832,000 even though the consumer finance sector, in which they hold stakes, was much higher on the session.

    Acom (TYO: 8572) gained 14 percent to ¥3,000 while Aiful (TYO: 8515) added 18 percent to ¥2,670.





    October 15, 2007

    Carmakers lower on broker comment

    Filed under: Companies, Toyota, Advantest, Tokyo Electron, Mitsui Mining, Honda, Toshiba, Sumitomo Metal Industries, Nippon Mining, Rohm

    Tokyo’s markets were mixed on the session Monday.

    The Nikkei 225 added 0.16 percent to 17,358.15, but the Topix index dropped 0.12 percent to 1,657.44 and the Mothers market was down 1.57 percent to 867.62.

    Carmakers were lower after HSBC Holdings said that Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) will likely see profits weaken in the second half of its current fiscal year as the US economy slows down.

    Toyota was 1.7 percent lower to ¥6,450, while Honda (TYO: 7267; NYSE: HMC) dropped 2 percent to ¥3,930.

    Miners were higher.

    Nippon Mining (TYO: 5016), which has interests in oil, coal and non-ferrous metals, added 1.6 percent to ¥1,196, while Sumitomo Metal Mining (TYO: 5713) gained 2.3 percent to ¥2,915 and Mitsui Mining (TYO: 5706) was up 4.2 percent to ¥2,915.

    In the semiconductors sector, chipmakers were lower but makers of equipment related to making and testing chips saw gains.

    Rohm (TYO: 6963) was down 0.7 percent to ¥10,120 and Toshiba (TYO: 6502; LSE: TOS) dropped 1.6 percent to ¥1,036 after Nomura dropped its recommendation on the sector from “bullish” to “neutral”.

    However Tokyo Electron (TYO: 8035) was up 2.9 percent to ¥7,510 while Advantest (TYO: 6857; NYSE: ATE) added 6.4 percent to ¥3,850.





    September 25, 2007

    GM strike helps Tokyo carmakers

    Filed under: Companies, Mitsui Fudosan, Toyota, Mitsui OSK, Kawasaki Kisen, Mitsubishi Estate, Honda

    Tokyo markets came back from Monday’s holiday there with gains.

    The Nikkei 225 was up 0.55 percent to 16,401.73, while the Topix index added 0.95 percent to 1,566.83 and the Mothers market added 0.88 percent to 631.45.

    With the United Auto Workers declaring a strike against General Motors (NYSE: GM) in the United States, Japanese carmakers saw gains.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.2 percent higher to ¥6,640 and Honda Motor (TYO: 7267; NYSE: HMC) was up 1.6 percent to ¥3,810.

    Shippers were also higher after the Baltic Dry Index, which tracks bulk shipping fees, hit a new record.

    Mitsui OSK (TYO: 9104) added 4.6 percent to ¥1,842, while Kawasaki Kisen Kaisha (TYO: 9107) gained 5 percent to ¥1,716.

    It was Mitsui’s highest close since the beginning of August and a record high close for Kawasaki Kisen.

    The real estate sector saw gains as well.

    Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 4.1 percent higher to ¥2,955, while Mitsubishi Estate (TYO: 8802) was up 4.2 percent to ¥3,090.





    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 11, 2007

    Real estate sector gains after recent declines

    Filed under: Companies, Mizuho, Mitsui Fudosan, Toyota, Mitsubishi Estate, Mitsubishi UFJ, Honda, Sumitomo Realty & Development, Capcom

    Tokyo’s markets were mixed Tuesday.

    While the Nikkei 225 added 0.71 percent to 15,877.67 and the Topix index gained 0.47 percent to 1,532.39, the Mothers market of small and mid-caps fell 2.87 percent to 656.29.

    After several days of declines, the real estate sector was higher, gaining 3.5 percent as a whole on new figures showing that office rental rates were up in central Tokyo in August.

    Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 3.53 percent higher to ¥2,640, while Sumitomo Realty & Development (TYO: 8830) gained 4.1 percent to ¥3,290 and Mitsubishi Estate (TYO: 8802) added 4.3 percent to ¥2,810.

    Banks were higher as well.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 1 percent higher to ¥1.04 million, while Mizuho Financial (TYO: 8411; NYSE: MFG) was up 1.1 percent to ¥664,000.

    Computer game publisher Capcom (TYO: 9697) added 6.3 percent to ¥2,855 on a broker upgrade based on its sales of games for the Wii console.

    The automobile manufacturing sector was slightly lower, falling 0.2 percent as a whole even though the yen had weakened slightly against the US dollar.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.2 percent to ¥6,430, while Honda Motor (TYO: 7267; NYSE: HMC) was 0.8 percent lower to ¥3,700.





    September 6, 2007

    Carmakers, banks lower on reduced growth forecasts

    Filed under: Companies, Toyota, Mitsubishi Estate, Mitsubishi UFJ, Nomura, Honda, KDDI, Sumitomo Realty & Development

    Tokyo’s markets were mixed on the session Thursday.

    The Nikkei 225 added 0.61 percent to 16,257, but the Topix index dropped 0.1 percent to 1,568.52 and the Mothers market was 0.79 percent lower to 711.44.

    Carmakers were lower after the Organization for Economic Cooperation and Development reduced its prediction of how much the US and European economies will grow this year.

    Honda Motor (TYO: 7262; NYSE: HMC) was down 0.5 percent to ¥3,810 while Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.6 percent to ¥6,630.

    The real estate sector declined again. Mitsubishi Estate (TYO: 8802) fell 1.9 percent to ¥2,840, while Sumitomo Realty & Development (TYO: 8830) was 4.3 percent lower to ¥3,370.

    Banks and brokerages were lower as well when Bear Stearns (NYSE: BSC) cut its projection of global economic growth for 2008 and put the chances of a recession in the US at 35 percent.

    Mitsubishi UFJ (TYO: 8306; NYSE: MTU) dropped 0.9 percent to ¥1.08 million, while broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) fell 1.5 percent to ¥1,917.

    In the telecommunications sector, KDDI (TYO: 9433) added 2.5 percent to ¥863,000 after Nikko Citigroup began coverage with a “buy” recommendation.





    August 27, 2007

    Tobacco sector higher on cost-cutting news

    Filed under: Companies, Toyota, Honda, Resona, Yahoo Japan, Japan Tobacco, Sumitomo Mitsui

    Tokyo equities markets gained slightly Monday as the Nikkei 225 added 0.32 percent to 16,301.39, the Topix index gained 0.12 percent to 1,587.76 and the Mothers market of small and mid-caps was up 0.59 percent to 731.08.

    The appointment of a new Finance Minister seemed to have little effect on the markets.

    In the tobacco sector, Japan Tobacco (TYO: 2914) gained 3.4 percent to ¥609,000 after it said over the weekend that it will cut costs by consolidating overseas plants.

    Among internet companies, Yahoo Japan (TYO: 4689) added 3.5 percent to ¥40,000 on an upgrade to “overweight” from JP Morgan Chase (TYO: 8634; NYSE: JPM).

    Carmakers also made gains, with the sector as a whole advancing by 0.8 percent.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was up 0.6 percent to ¥6,700, while Honda Motor (TYO: 7267; NYSE: HMC) added 2.4 percent to ¥3,790.

    Banks did not do as well. Sumitomo Mitsui (TYO: 8316) dropped 0.9 percent to ¥919,000, while Resona Holdings was down 1.3 percent to ¥237,000 after both banks had gains of over 2 percent earlier in the session.





    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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