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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    August 6, 2007

    Carmakers mixed as many exporters decline

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Mitsubishi UFJ, Nomura, Takefuji, Mazda

    Tokyo equities markets were lower Monday.

    The Nikkei 225 was down 0.39 percent to 16,914.46 and dropped as lows as 16,675 early in the session, while the Topix index fell 0.27 percent to 1,668.04 and the Mothers market was 2.01 percent lower to 817.76.

    With the yen strengthening, exporters were mostly lower on the session.

    Carmakers were mixed, however.

    Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) added 1.4 percent to ¥7,180 after is said its profits rose by 32 percent in the most recent quarter, but Mazda Motor (TYO: 7261) was down 2.9 percent to ¥636.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) dropped 3.1 percent to ¥5,920, its biggest loss since the middle of March, while camera maker Canon (TYO: 7751; NYSE: CAJ) was down 2.3 percent to ¥6,370.

    Banks were lower as investors worried that the Japanese economy is not expanding quickly enough to encourage investment in domestically-focused shares.

    Mizuho (TYO: 8411; NYSE: MFG) and Mitsubishi UFJ (TYO: 8306; NYSE: MTU) each dropped 2.5 percent, to ¥702,000 and ¥1.16 million respectively.

    Shares in Mizuho have declined by more than 16 percent since last week.

    Also in financial services sector, broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was 3.2 percent lower to ¥2,135.

    Meanwhile, in the consumer finance sector Takefuji (TYO: 8564) added 2.1 percent to ¥3,810 after it said its profits were up substantially in the quarter.





    August 1, 2007

    Bank lower on quarterly reports

    Filed under: Companies, Sony, Mizuho, Kyocera, Nissan, Mitsubishi UFJ, Honda, TDK, Mazda, Murata Manufacturing

    Tokyo’s major indices actually saw the least of the losses in the region as the Nikkei 225 and the Topix index each dropped 2.19 percent, to 16,870.98 and 1,668.85 respectively.

    However, the Mother’s market of small and mid-caps dropped 3.79 percent to 831.92.

    Banks were hit hard, with Mitsubishi UFJ (TYO: 8306; NYSE: MTU) falling 4.7 percent to ¥1.21 million and Mizuho (TYO: 8411; NYSE: MFG) dropping 9 percent to ¥766,000.

    Both banks reported significant declines in net income in the most recent quarter.

    Export-focused sectors also saw declines.

    Among carmakers, Honda Motor was 1.4 percent lower to ¥4,240, while Nissan Motor also fell 1.4 percent, to ¥1,254.

    Mazda Motor was down 3.2 percent to ¥659.

    In the electronics sector, Sony (TYO: 6758; NYSE: SNE) was 2.9 percent lower to ¥6,130, while TDK (TYO: 6762; NYSE: TDK; LSE: TDK) fell 12 percent to ¥9,070 on a drop of 11 percent in its operating profit, prompting UBS (TYO: 8657; NYSE: UBS; SWX: UBSN) to drop its recommendation from “neutral” to “reduce”.

    Companies related to the semiconductors sector declined on rumors that Apple (NAS; AAPL; LSE: ACP; FWB: APC) could cut production of its iPhone.

    Kyocera (TYO; 6971),which makes mobile phones and ceramic chip condensers, was 4.3 percent lower to ¥11,010, while Murata Manufacturing (TYO: 6981), which makes similar components, was 4.9 percent lower to ¥8,520 on the Osaka exchange.





    November 6, 2006

    Tokyo retail sector declines

    Filed under: Companies, Sony, SMFG, Toyota, Nissan, Sharp, Fast Retailing, Seven & I, Mazda, Marui Company

    The Tokyo markets were nearly even on Monday but ended mixed, with the Nikkei 225 0.1 percent higher to 16,364.76 but the Topix index ending 0.1 percent lower to 1,616.71. Much of the losses came in sectors that depend on exports, with investors worried that new data on unemployment will make the US Federal Reserve reluctant to let interest rates fall.

    The electronics sector was lower with Sony down 1.1 percent to ¥4,730, while Sharp dropped 1.2 percent to ¥2,070.

    Despite the concerns however, some carmakers were higher. While Nissan Motor fell 0.6 percent to ¥1,437, Toyota Motor added 1 percent to ¥7,030 on reports that it will become Japan’s first company to report that their operating profits for the year were above ¥2,000 billion. Mazda was also higher, gaining 1.9 percent to ¥809 after it reported operating profits that were 55 percent higher in the quarter.

    In domestic sectors, retailers saw losses on concerns that a decline in the US economy would hurt the Japanese economy as well. Seven & I dropped 1.6 percent to ¥3,610, while Fast Retailing fell 2.7 percent to ¥10,610 after investors were not happy with sales. Department store operator Marui Company, meanwhile, dropped 8.8 percent to ¥1,417 on a profit warning.

    Among banks, SMFG was 1.5 percent lower to ¥1.29 million.





    July 14, 2006

    Electronics see declines

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Matsushita Electric Industrial, Nissan, Honda, Konica Minolta, Mazda, Bank of Yokohama

    Equities markets were down in Tokyo on Friday as investors in export-focused stocks worried that new rises in crude oil prices would dampen consumer demand in the United States. The decision by the Bank of Japan to raise interest rates for the first time in six years seemed not to have much of an effect on the markets at all, except perhaps in the banking sector.

    The Nikkei 225 dropped 1.7 percent to 14,845.24, while the Topix index fell 1.9 percent to 1,521.71. It was the first time the Nikkei had gone below the 15,000 level in more than two weeks.

    Sony was hurt not only by concerns about consumer demand but also by a decision in a European court that rescinded the European Union’s approval of an alliance with BMG. The ruling affected the music industry on a global scale and sent Sony’s shares 2.8 percent lower, to ¥4,790. Elsewhere in the electronics sector, Konica Minolta dropped 2.3 percent to ¥1,363, while Canon also declined by 2.3 percent, to ¥5,490. Matsushita Electric Industrial was down by 2.5 percent to ¥2,170.

    The automobile manufacturing sector also saw losses. Nissan declined by 1.3 percent to ¥1,188. Honda and Toyota were each 1.7 percent lower, to ¥3,500 and ¥5,720 respectively. Mazda dropped 2.1 percent to ¥735.

    Banks were down as investors lost confidence in the sector due to the increase in borrowing costs inherent in the rise in interest rates. Losses ranged from 2.2 percent, by Mizuho, which closed at ¥961,000, to the Bank of Yokohama’s 3.5 percent decline to ¥909.





    July 10, 2006

    Carmakers mixed in Tokyo

    Filed under: Companies, Sony, Mizuho, Canon, Toyota, Matsushita Electric Industrial, Advantest, Tokyo Electron, Nissan, Mitsubishi UFJ, Komatsu, Aiful, Takefuji, Acom, Promise, Mazda, Fanuc

    Equities markets in Tokyo were up substantially on Monday, with the Nikkei 225 up 1.6 percent to 15,552.81 and the Topix index 1.3 percent higher to 1,594.07.

    In the technology sector, chip-making and testing equipment companies saw gains. Advantest was up 2.7 percent to ¥12,130, while Tokyo Electron gained 3.3 percent to ¥8,250.

    Electronics companies were also up on the session, with Sony adding 1.2 percent to ¥5,050, Matsushita Electric Industrial up 1.5 percent to ¥2,390, and Canon advancing by 2.3 percent to ¥5,790.

    Automobile manufacturers were mixed on currency concerns. Mazda and Toyota gained 1 percent to ¥777 and 1.2 percent to ¥6,050 respectively, while Nissan declined by 0.1 percent to ¥1,238.

    The machinery sector was up 1.2 percent as a whole, with Komatsu adding 1.3 percent to ¥2,295. Industrial robots maker Fanuc, meanwhile, gained 4.7 percent to ¥10,120.

    Banks benefited from the news that lending was up this month at a rate it hasn’t seen in five years. Mizuho advanced by 3.2 percent to ¥998,000 and Mitsubishi UFJ added 5.2 percent to ¥1,630,000. Also helping banks was the expectation that the Bank of Japan will bring an end to zero interest rates when it meets later this week.

    Consumer finance companies saw losses during the session, again on interest rate issues, after the Liberal Democratic Party proposed new rules last week which would drop the maximum allowable interest rate on their loans from 29.2 percent to between 15 and 20 percent. Acom fell 1.8 percent to ¥5,870, while Promise dropped 2.5 percent to ¥5,500, Takefuji declined by 4 percent to ¥5,820, and Aiful was down 7.8 percent to ¥4,840.





    July 4, 2006

    Japan carmakers see gains

    Filed under: Companies, Isetan, Sony, Canon, Toyota, Kyocera, Nissan, Mitsukoshi, Aeon, JAL, Mazda

    The Tokyo equities markets were up on Tuesday as concerns that the US will raise interest rates again soon retreated. Export-reliant stocks did better than domestic stocks even though new data has supported the idea that the Japanese economy continues to recover. The Nikkei 225 added 0.4 percent to 15,638.50, while the Topix index gained 0.6 percent to 1,602.43. It was the first time in nearly a month that the Topix managed to close above the 6,000 level.

    Retailers continued to rally with evidence that summer shoppers were active. Aeon and Isetan each added 1.8 percent, to ¥2,615 and ¥2,035 respectively. Department store operator Mitsukoshi gained 2.5 percent to ¥569.

    Consumer electronics makers saw gains on expectations that the US market would continue to be strong. Kyocera was up 1.4 percent to ¥9,010. Sony also added 1.4 percent, to ¥5,100. Digital camera maker Canon gained 3.4 percent to ¥5,740.

    Automobile manufacturers were also up on the session. Nissan was up 0.5 percent to ¥1,263, while Toyota gained 0.8 percent to ¥6,010. Mazda added 5.2 percent to ¥768 on an upgrade from “neutral” to “buy” from Goldman Sachs.

    Japan Airlines, meanwhile, recovered a bit of Monday’s losses when it gained 1.5 percent to ¥277.





    June 30, 2006

    Banks, real estate higher in Tokyo

    Filed under: Companies, Takashimaya, Mitsui Fudosan, Toyota, Advantest, Tokyo Electron, Nissan, Komatsu, Tokyo Tatemono, Mazda, Daiwa House, Fanuc, Chiba Bank, Bank of Yokohama, Mitsui Trust

    The Tokyo equities markets were up strongly on Friday after Thursday’s gains on Wall Street in the wake of another hike in US interest rates by the Federal Reserve. The Nikkei 225 and the Topix index each added 2.5 percent on the day to 15,505.18 and 1,586.96 respectively. Export-focused stocks were helped by expectations of higher demand in the United States, while domestic stocks also saw advances.

    In the electronics sector, Advantest and Tokyo Electron each added 2.8 percent, to ¥11,660 and ¥8,000 respectively..

    Construction machinery maker Komatsu gained 3.4 percent to ¥2,340. Industrial robot maker Fanuc was up 3.2 percent to ¥10,280.

    Automobile manufacturers also saw gains. Toyota advanced by 4.2 percent to ¥5,990, while Nissan added 5 percent to ¥1,250 after declines earlier in the week. Mazda also gained 5 percent, to ¥717.

    The banking and real estate sectors were also up on Friday. Chiba Bank gained 4.5 percent to ¥1,070, while Bank of Yokohama was up 6.6 percent to ¥885 and Mitsui Trust added ¥1,375.

    In real estate, Mitsui Fudosan advanced by 4 percent to ¥2,485, Tokyo Tatemono added 4.1 percent to ¥1,226, and Daiwa House gained 5.8 percent to ¥1,830.

    Among the losers on the day was department store chain Takashimaya, which was down 0.6 percent to ¥1,436 after it said its first quarter earnings had been lower than had been expected.





    June 14, 2006

    Japanese carmakers see gains

    Filed under: Companies, Toyota, Matsushita Electric Industrial, Honda, KDDI, Aeon, Mazda, Sumitomo Rubber, Bridgestone, Mitsubishi Electric

    Tokyo equities markets were up on Wednesday despite early losses. The Nikkei 225, which was down by over 4 percent on Tuesday, added 0.6 percent to 14,309.56, while the Topix index gained 0.5 percent to 1,466.14. Meanwhile, the Mothers index of small and mid-cap stocks was up 3.7 percent to 1,394.09.

    The transport equipment sector added 0.9 percent as a whole. Honda was up 0.7 percent to ¥6,790, while Toyota gained 1.1 percent to ¥5,590 and Mazda advanced by 2.5 percent to ¥618.

    An expected decline in rubber prices spurred Goldman Sachs to recommend both Sumitomo Rubber, which it just began covering, and tyre maker Bridgestone. Sumitomo Rubber added 8.2 percent to ¥1,271, while Bridgestone advanced by 1.1 percent to ¥2,190.

    Another export-focused sector, electronics, gained 0.6 percent on the day. Mitsubishi Electric added 1 percent to ¥844, while Matsushita Electric Industrial was up 1.4 percent to ¥2,245.

    Retailers were up 0.5 percent on the day as a sector, with Aeon advancing by 3.7 percent on the day after recent losses.

    In the telecommunications sector, KDDI dropped 1.2 percent to ¥661,000 after it said that personal information on approximately 4 million customers had been disclosed.





    June 7, 2006

    Topix drops 2.2 percent

    Filed under: Companies, Mizuho, Toyota, Matsushita Electric Industrial, Nissan, Daiwa Securities, Honda, Komatsu, Pioneer, Mazda, Millea

    In Tokyo on Wednesday both the Nikkei 225 and the Topix index saw substantial losses as investors continued to worry about the condition of the US economy. The Nikkei closed down 1.9 percent to 15,096.01, it’s lowest closing level since November. Meanwhile, the Topix dropped 2.2 percent to 1,533.54. Another drag on the markets was the continued pullout of foreign investors from the Japanese market, as sell orders from foreign sources exceeded buy orders for the tenth day in a row.

    Automobile manufacturers suffered due to their exposure to US demand. Mazda was down 4.5 percent to ¥651. Honda lost 2 percent to 7,190, Nissan dropped 1.4 percent to ¥1,303, and Toyota, Japan’s largest carmaker, declined by 1.3 percent to ¥5,920.

    Heavy machinery manufacturer Komatsu dropped 6.5 percent to ¥2,015 on a downgrade from “buy” to “sell” from KBC Securities.

    The electronics sector was down 2.3 percent as a whole as Matsushita Electric, which makes the Panasonic brand of consumer electronics, fell 2 percent to ¥2,415. Pioneer lost 6.6 percent to ¥1,766.

    Export-focused stocks were not the only losers on the day, as the banking sector fell 2 percent as a whole and Mizuho declined by 3 percent to ¥891,000. Securities and insurance companies were also down. Daiwa Securities dropped 5.2 percent to ¥1,350, while life insurer Millea was down 4 percent to ¥1,900,000.





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