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Market Update

Japan Earnings: Konica Minolta, Marubeni, Suzuki Motor, Nippon Steel

Author: Hiruki Nakamura
Last Update: 9:59 AM ET May 09 2014

4:30 PM Tokyo In short trading week, Nikkei index in Tokyo trimmed weekly losses and investors focused on the latest batch of earnings. Konica Minolta said annual net increased 44.5%. Marubeni annual sales rose 28% and net soared 62%. Suzuki Motor annual sales rose 14% and net advanced 34%.

The Nikkei 225 Stock Average rose 35.81 to 14,199.59 and the Topix index edged up 5.50 to 1,165.51. For the week, Nikkei 225 dropped 1.6%.

The yen closed at 101.77 against the U.S. dollar.

Stocks in Review

Toyota Motor Corp gained 33 yen to 5,561 yen. Honda Motor Co fell 17 yen to 3,337 yen. Nissan Motor Co Ltd increased 1% to 871 yen.

Sony slid 2 yen to 1,764 yen.

Softbank Corp slid 23 yen to 7,276 yen. Fast Retailing Co Ltd dropped 95 yen to 31,470 yen.

Konica Minolta Inc gained 1.6% to 946 yen after the Japan-based electrical and optical products maker said net sales in the year ending in March jumped 16.1% to 943.76 billion yen from 813.07 billion yen a year ago.

Net income in the year surged 44.5% to 21.86 billion yen compared to 15.12 billion yen and diluted earnings per share jumped to 41.38 yen from 28.52 yen a year earlier.

Marubeni Corporation fell 0.4% to 678 yen after the Japan-based wholesale trader stated revenues in the year ending in March surged 27.7% to 13.63 trillion yen from 10.67 trillion yen a year ago.

Net profit in the year climbed 62.1% to 210.95 billion yen compared to 130.14 billion yen net diluted earnings per share increased to 121.52 yen from 74.96 yen a year earlier.

Nippon Steel & Sumitomo Metal Corp increased 1.9% to 270 yen after the steel producer reported net sales in the year ending in March climbed 25.7% to 5.52 trillion yen from 4.39 trillion yen a year ago.

Net in the year swung to profit 242.75 billion yen compared to a loss of 124.57 billion yen net earnings per share swung to a 26.67 yen from a loss of 16.23 yen a year earlier.

Suzuki Motor Corporation rose 1.7% to 2,597 yen after the Japan-based automaker with substantial revenues from India said net sales in the year ending in March soared 14% to 2.94 trillion yen from 2.58 trillion yen a year ago.

Net income in the year jumped 33.7% to 107.48 billion yen compared to 80.39 billion yen and diluted earnings per share climbed to 191.57 yen from 131.67 yen a year earlier.

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