4:30 PM Tokyo – Broader market averages gained to a 3-week high and domestic earnings were in focus. Kyushu Electric and Hokkaido Electric Power gained after the companies said a government-backed bank will invest in utilities. Seiko Epson swung to profit. Kawasaki Kisen Kaisha reported higher earnings.
Stocks in Tokyo jumped and investors reacted positively after the U.S. Fed said the U.S. economy is picking up. Also, reports domestic earnings were ahead of expectations.
The Nikkei 225 Stock Average jumped 181.02 or 1.3% to 14,485.13 and the Topix index increased 19.76 to 1,182.20.
The yen closed at 102.22 against the U.S. dollar.
Stocks in Review
Toyota Motor Corp
climbed 123 yen or 2.2% to 5,639 yen. Honda Motor Co
gained 54 yen to 3,434 yen. Nissan Motor Co Ltd
increased 1.6% to 891 yen.
increased 18 yen to 1,810 yen and the in preliminary earnings released by electronic products maker revised its sales and operating revenue forecast to 7,770 billion yen an increase of 0.9% in the fiscal year ending in March 2014, this compared to reported revenue of 6,800.9 billion yen a year ago.
Sony revised expected net loss for the year to climb 18% to 130 billion yen from the earlier estimated loss of 110 billion yen. This compared to a profit of 43 billion yen a year earlier.
rose 127 yen to 7,717 yen after the Japan-based wireless carrier plans to raise 300 billion yen or $2.9 billion through a five-year bonds to individual investors and the company plans to use proceeds to repay debt and invest in new investments.
The price of the issue will be declared on May 16.
Fast Retailing Co Ltd
jumped 330 yen to 32,100 yen.
ANA Holdings Inc
increased 1.3% to 226 yen after the Japan-based airline reported revenue in the year ending in March jumped 7.9% to 1.60 trillion yen from 1.48 trillion yen a year ago.
Net income in the year plunged 56.2% to 18.89 billion yen compared to 43.14 billion yen and earnings per share dropped to 5.41 yen from 13.51 yen a year earlier.
Kawasaki Kisen Kaisha, Ltd
jumped 2.9% to 211 yen after the ocean freight operator stated revenue in the year ending in March rose to 1.22 trillion yen from 1.13 trillion yen a year earlier.
Net income in the year climbed to 16.64 billion yen compared to 10.67 billion yen and earnings per share jumped to 17.75 yen from 12.07 yen a year ago.
Seiko Epson Corporation
surged 18.1% to 3,290 yen after the printers and watches maker said net sales in the year ending in March climbed 17.9% to 1 trillion yen from 851.3 billion yen a year ago period.
Net in the year swung to a profit 83.70 billion yen compared to a loss of 10.09 billion yen and earnings per share swung to a 467.87 yen from a loss of 56.41 yen a year earlier.
Wacom Co., Ltd
declined 8.4% to 613 yen after the Japan-based electronics appliances maker stated sales in the year ending in March soared 28.7% to 78.62 billion yen from 61.07 billion yen a year ago.
Net profit in the year climbed 10% to 5.25 billion yen compared to 4.77 billion yen and diluted earnings per share increased to 31.13 yen from 29.69 yen a year earlier.
Yusen Logistics Co Ltd
rose 0.2% to 1,180 yen after the transportation and logistics operator said net sales in the year ending in March jumped 19.8% to 406.04 billion yen from 339.05 billion yen a year ago.
Net income in the year soared 17.5% to 1.32 billion yen compared to 1.12 billion yen and earnings per share rose to 31.17 yen from 26.53 yen a year earlier.