S&P 500 2,441.20 17.28
Gold$1,224.80 $5.30
Nasdaq 6,253.81 61.92
Crude Oil $60,490.00      $-1570.00
Market Update

3-day Decline in Japan Stocks, Toyota Struggle with Sales Growth


Author: Hiruki Nakamura
ticker.com
Last Update: 12:22 PM ET August 05 2014

4:30 PM Tokyo Market indexes in Japan declined for the fourth day in a row as investors reacted to domestic earnings and higher yen. Toyota Motor reported 2.2% increase in first-quarter revenues. Isuzu Motors said profits were ahead of expectations. Marubeni Corp sales in first-half increased 18%.

Market indexes in Japan and across Asia dropped for the fourth day in a row as the yen gained and exporters and trading companies led the most actively traded stocks.

The Nikkei 225 Stock Average dropped 154.19 or 1% to 15,320.31 and the broader Topix index slipped 12.66 to 1,263.53.

The yen closed at 102.58 against one U.S. dollar.

Stocks in Review

Gunma Bank Ltd dropped 1.5% to 600 yen after the securities and investment services provider said net revenue in the first-quarter ending in June fell 1.6% to 34.05 billion yen from 34.60 billion yen a year ago period.

Net income in the quarter soared 24.7% to 7.34 billion yen compared to 5.89 billion yen and diluted earnings per share jumped to 15.78 yen from 12.58 yen a year earlier.

Marubeni Corp slipped 0.7% to 725.50 yen after the petro and agrochemical products maker reported net sales in the first-half ending in June climbed 18.2% to 3.69 trillion yen from 3.12 trillion yen a year ago period.

Net income in the quarter plunged 44.5% to 56.21 billion yen compared to 101.24 billion yen and earnings per share increased to 39.81 yen from 36.91 yen a year earlier.

Suntory Beverage & Food Ltd slid 0.3% to 3,800 yen after the beverages and food maker reported net sales in the first-half ending in June soared 15.5% to 598.10 billion yen from 517.97 billion yen a year ago period.

Net income in the period surged 23.8% to 14.85 billion yen compared to 11.99 billion yen and earnings per share dropped to 48.06 yen from 55.52 yen a year earlier.

Toyota Motor Corp edged up 0.02% to 6,042 yen after the automaker reported net revenue in the first-quarter ending in June jumped 2.2% to 6.39 trillion yen from 6.25 trillion yen a year ago period.

Net income in the quarter climbed 4.6% to 587.77 billion yen compared to 562.19 billion yen and diluted earnings per share increased to 185.34 yen from 177.32 yen a year earlier.

  1
Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc