4:30 PM Tokyo – Stocks in Tokyo gained as earnings season accelerate and nearly 400 companies are scheduled to release results before the end of the week. Mitsui Fudosan declined after quarterly net declined. Olympus Corp swung to quarterly net profit.
Stocks in Tokyo closed higher as investors focused on domestic earnings and more than 350 companies are scheduled to release earnings in two days.
The Nikkei 225 Stock Average gained 72.58 or 0.5% to 15,232.37 and the broader Topix index rose 6.83 to 1,258.12.
The yen closed at 102.28 against one U.S. dollar.
Investors also focused on the forthcoming announcement from the Government Pension Investment Fund and speculation rose that the $1.2 trillion fund may increase its domestic stock exposure to 20% from the current 12%.
Stocks in Review
closed unchanged at 231 yen after the printing ink maker said net sales in the second-quarter ending in June climbed 7.7% to 408.38 billion yen from 384.96 billion yen a year ago period.
Net income in the quarter declined 6.5% to 10.32 billion yen compared to 10.68 billion yen and earnings per share slipped to 11.23 yen from 11.66 yen a year earlier.
Japan Display Inc
gained 1.4% to 567 yen after the phone and tab screens maker reported net sales in the first-quarter ending in June plunged 13.9% to 125.16 billion yen from 145.37 billion yen a year ago period.
Net in the quarter swung to a loss of 16.83 billion yen compared to profit of 24.36 billion and diluted loss per share swung to a 28.02 yen from earnings of 121.62 yen a year earlier.
Kumagai Gumi Co., Ltd
closed unchanged at 282 yen after the construction company lifted its revenue forecast for the year to 340 billion yen from 325.5 billion yen while expects net profit to decline 2.4 billion from 4.4 billion yen a year ago.
slipped 0.6% to 2,120 yen after the trading company reported revenues in the first-quarter ending in June edged up 0.4% to 1.89 trillion yen from 1.88 trillion yen a year ago period.
Net income in the quarter tumbled 62.8% to 77.68 billion yen compared to 209.09 billion yen and plunged to 66.81 yen from 80.21 yen a year earlier.
jumped 1.9% to 3,615 yen after the medical and life science equipment maker said net sales in the first-quarter ending in June climbed 4.9% to 167.01 billion yen from 159.23 billion yen a year ago period.
Net in the quarter swung to profit 8.14 billion yen compared to a loss of 1.83 billion yen and diluted earnings per share swung to 23.79 yen from a loss of 6.08 yen a year earlier.