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Market Update

Japan Industrial Production Rises 1.2%, Weekly Fall of 0.3% in Nikkei


Author: Hiruki Nakamura
ticker.com
Last Update: 11:53 AM ET June 12 2015

4:30 PM Tokyo Nikkei in Tokyo rose and investors digested latest batch of earnings. Industrial production increased for the first time in three months in April. Ateam said third-quarter sales increased 24% and estimated annual sales to increase 29%. Mitsubishi Corp launched a 60-year bond offering to pay for 200 billion yen stock buyback program.

In lacklustre trading the Nikkei 225 average closed higher and for the week fell 0.3%.

The seasonally adjusted industrial production in April climbed 1.2% from the revised 1% increase in March, the first increase in three-months. In March, production declined 0.8%, the Ministry of Economy, Trade and Industry said.

For the year, industrial production in April edged up 0.1% compared to 1.7% decrease in March.

The department added total shipments in April jumped 0.6% from the previous month and revised inventories gained 0.4% from the initial flat estimate.

The Nikkei 225 Stock Average rose 24.11 to 20,407.08 and the broader Topix index gained 2.60 to 1,651.48.

For the week, Nikkei 225 decreased 0.3%.

The yen closed at 123.65 against a dollar.

Stocks in Review

Ateam Inc rose 0.07% to 2,762 yen after the online games provider said net sales in the third-quarter ending in April climbed 23.8% to 11.26 billion yen from 9.10 billion yen in a year ago period.

Net income in the period soared 82.8% to 1.03 billion yen compared to 592 million yen and diluted earnings per share increased to 55.40 yen from 30.36 yen in the same period a year ago.

The game developer forecasted net sales for the year ending in July to jump 28.8% to 15.5 billion yen and net income to surge 61.8% to 1.20 billion yen.

The retailer forecasted net sales for the fiscal second-half ending in October to climb 14.3% to 42 billion yen and net income to increase 34.1% to 3.3 billion yen.

Ihara Chemical Industry Co., Ltd declined 5.7% to 1,578 yen after the agrochemical maker reported net sales in the second-quarter ending in April soared 17.1% to 21.52 billion yen from 18.37 billion yen in a year ago period.

Net income in the period surged 58.6% to 2.54 billion yen compared to 1.60 billion yen and earnings per share jumped to 55.39 yen from 35.58 yen in the same period a year ago.

The retailer forecasted net sales for the fiscal second-half ending in October to climb 14.3% to 42 billion yen and net income to increase 34.1% to 3.3 billion yen.

Mitsubishi Corporation slipped 0.5% to 2,797.50 yen after the trading company launched a new 60-year subordinated bond to raise cash for share buybacks of 200 billion yen, doubled the issue amount from the original plan.

Shoei Foods Corporation gained 0.2% to 1,101 yen after the food and dairy products maker said net sales in the second-quarter ending in April jumped 9.3% to 55.61 billion yen from 50.89 billion yen in a year ago period.

Net income in the period climbed 68% to 1.86 billion yen compared to 1.10 billion yen and earnings per share advanced to 95.43 yen from 56.81 yen in the same period a year ago.

Zappallas, Inc climbed 4.5% to 645 yen after the mobile content provider stated revenues in the year ending in April declined 7% to 7.58 billion yen from 8.16 billion yen in a year ago period.

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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