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Market Update

Japan Post Public Offerings Soar in Tokyo, Japan Tobacco Surges on Outlook


Author: Hiruki Nakamura
ticker.com
Last Update: 11:31 AM ET November 04 2015

4:30 PM Tokyo Nikkei average in Tokyo closed up 1.3% and the Japanese government raised $12 billion through three public offerings of Japan Post related companies. Consumer confidence index in October recovered a little from September. Japan Tobacco soared 11% on sales outlook. Honda Motor sales jumped 16% in first-half.

Market averages in Tokyo closed higher and Japanese government successfully raised $12 billion through the three public offerings.

The seasonally adjusted consumer confidence index in October increased to 41.5 from 40.6 in September, the Cabinet Office said today.

The monetary base in October jumped 32.5% to 338.89 trillion yen followed by 35.1% drop in September, the Bank of Japan said.

The adjusted monetary base in October soared 16.5% to 336.70 trillion yen from a year ago month.

The Nikkei 225 Stock Average jumped 243.67 or 1.3% to 18,926.91 and the broader Topix index increased 13.46 to 1,540.43.

The yen strengthened to 121.28 against a dollar.

Stocks in Review

Honda Motor Co Ltd increased 1.9% to 4,028 yen after the automobile company reported net sales in the first-half ending in September jumped 15.6% from a year ago to 7.33 trillion yen.

Net income in the period soared 14% to 313.7 billion yen compared to 275.1 billion yen and diluted earnings per share increased to 224.93 yen from 199.56 yen.

The company lifted net sales forecast for the year to an increase of 0.7% to 14.6 trillion yen from the earlier estimate of 14.5 trillion yen and forecasted net income remain unchanged at 525 billion yen.

Japan Tobacco Inc gained 0.8% to 4,158 yen after the tobacco products maker reported net sales in the nine-month period ending in September plunged 16.3% from a year ago to 1.69 trillion yen.

Net income in the period surged 11.4% to 404.40 billion yen compared to 362.92 billion yen and diluted earnings per share increased to 224.93 yen from 199.56 yen.

The company estimated net sales for the year to soar to about 2.25 trillion yen and net income of about 474 billion yen.

Japanese government raised 1.4 trillion yen or $12 billion through the three combined public offerings, largest since the public offering of Nippon Telegraph & Telephone Corp in 1987 and NTT DoCoMo Inc listing in 1998.

Japan Post Holdings Co Ltd surged 25.7% to 1,760 yen after the postal and logistics group priced its initial public offering at 1,400 yen per share.

Japan Post Bank Co Ltd jumped 15.2% to 1,671 yen after the banking; lending and securities services provider priced its public offering at 1,450 yen.

Japan Post Insurance Co soared 55.9% to 3,430 yen after the insurance company today priced its initial public offering at 2,200 yen.

SoftBank Group Corp rose 1.4% to 6.823 yen after the mobile communication services provider reported net sales in the first-half ending in September jumped 10% from a year ago to 4.42 trillion yen.

Net income in the period tumbled 23.9% to 426.68 billion yen compared to 560.31 billion yen and diluted earnings per share declined to 349.81 yen from 471.25 yen.

Suzuki Motor Corp gained 1.5% to 3,951 yen after the automaker said reported net sales in the first-half ending in September soared 8.7% from a year ago to 1.56 trillion yen.

Net income in the period surged 46.5% to 79.05 billion yen compared to 53.95 billion yen and diluted earnings per share rose to 145.32 yen from 96.14 yen.

Suzuki forecasted net sales for the fiscal year to increase to 3.10 trillion yen and net income to jump to 125 billion yen.

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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