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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    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 20, 2007

    Consumer finance sector lower on forecast

    Filed under: Companies, Mitsui Fudosan, Advantest, Tokyo Electron, Sumitomo Realty & Development, Aiful, Acom, Promise, UFJ Nicos

    Equities markets were mixed in Tokyo on Thursday, with the real estate sector higher but the consumer finance and semiconductors sectors in decline.

    The Nikkei 225 was 0.2 percent higher to 16,413.79, but the Topix index retreated slightly and was down 0.05 percent to 1,566.84.

    The Mothers market of small and mid-caps also declined, falling 0.81 percent to 628.23.

    The consumer finance sector was down substantially after UFJ Nicos (TYO: 8583) said that instead of a profit it would lose ¥100 billion this fiscal year.

    Nicos, which is part of Mitsubishi UFJ Financial Group (TYO: 8306; NYSE: MTU), was 13.4 percent lower to ¥241.

    Elsewhere in the sector Aiful (TYO: 8515) dropped 11 percent to ¥1,732, while Acom (TYO: 8572) was down 7.8 percent to ¥2,560 and Promise (TYO: 8574) fell 4.5 percent to ¥2,655.

    The semiconductors sector also saw declines after analysts at Dramexchange said that the price of computer memory will decline next quarter due to oversupply.

    Chip-making equipment maker Advantest (TYO: 6857; NYSE: ATE) was 4.7 percent lower to ¥3,690, while Tokyo Electron (TYO: 8035) dropped 4.9 percent to ¥7,340.

    The real estate sector was higher on a government report that said commercial land prices were higher in the year ending in June.

    Mitsui Fudosan (TYO: 8801; NAS: MDSFF) gained 1.6 percent to ¥2,860, while Sumitomo Realty & Development (TYO: 8830) added 1.7 percent to ¥3,610.





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