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Market Update

Japan Indexes in Five-day Rally; Toyota and Suntory Net Rise


Author: Hiruki Nakamura
ticker.com
Last Update: 12:51 AM ET November 05 2014

4:30 PM Tokyo The broader Topix index in Tokyo gained for the fifth day in a row and market indexes in Japan have advanced more than 8% in the month-so-far. Kakaku.com gained after second-quarter sales and net were ahead of expectations. Suntory Beverage & Food third-quarter net surged 25%.

Japanese stocks advanced for the third day in a row and the Nikkei extended gains to 8.2% in the month.

The Nikkei 225 Stock Average gained 74.85 or 0.4% to 16,937.32 and the broader Topix index rose 3.11 to 1,371.76.

The yen eased for the fourth day and closed at 114.50 against one dollar.

The stock market indexes climbed for the third day in a row after GPIF announced it plans to cut domestic bond allocation to 35% from 60% and increase target allocation for domestic and international stocks to 25% each from 12% each.

The Government Pension Investment Fund also tripled its allocation target for real estate trusts.

Stocks in Review

Kakaku.com, Inc jumped 2.8% to 1,554 yen after the on-line trade service provider reported net sales in the second-quarter ending in September soared 23.5% to 16.52 billion yen from 13.38 billion yen a year ago period.

Net income in the quarter climbed 13.5% to 4.57 billion yen compared to 4.03 billion yen and diluted earnings per share jumped to 20.50 yen from 17.91 yen in the same period a year ago.

Minebea Co Ltd increased 1.3% to 1,512 yen after the rotary appliance and electronic devices maker reported net sales in the second-quarter ending in September surged 19.8% to 216.56 billion yen from 180.80 billion yen a year ago period.

Net income in the quarter soared 109.6% to 24.64 billion yen compared to 11.75 billion yen and diluted earnings per share climbed to 45.27 yen from 22.35 yen in the same period a year ago.

The company forecasted net sales for the year to jump 23.8% to 460 billion yen and net income in the year to climb 48.5% to 31 billion yen from a year ago period.

Nissan Chemical Industries, Ltd climbed 3.9% to 2,138 yen after the chemical manufacturer stated net sales in the second-quarter ending in September jumped 4.6% to 79.92 billion yen from 76.40 billion yen a year ago period.

Net income in the quarter surged 11.2% to 8.85 billion yen compared to 7.96 billion yen earnings per share rose to 55.15 yen from 48.62 yen in the same period a year ago.

Rakuten Inc slipped 1.2% to 1,281 yen after the online travel, advertisement and shopping service provider said net sales in the third-quarter ending in September soared 14.7% to 424.22 billion yen from 369.72 billion yen a year ago period.

Net income in the quarter jumped 16.1% to 42.72 billion yen compared to 36.80 billion yen and diluted earnings per share increased to 31.88 yen from 27.49 yen in the same period a year ago.

Suntory Beverage & Food Ltd gained 0.5% to 3,975 yen after the beverages and food maker reported net sales in the third-quarter ending in September jumped 12.4% to 940.69 billion yen from 837.16 billion yen a year ago period.

Net income in the quarter surged 25.8% to 30.84 billion yen compared to 24.52 billion yen and earnings per share rose to 99.80 yen from 99.26 yen in the same period a year ago.

Toyota Motor Corp rose 0.1% to 6,808 yen after the largest automaker reported net revenues in the first-half ending in September rose 3.3% to 12.95 trillion yen from 12.54 trillion yen a year ago period.

Net income in the period soared 12.6% to 1.13 trillion yen compared to 1 trillion yen and diluted earnings per share jumped to 355.91 yen from 315.58 yen in the same period a year ago.

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