4:30 PM Tokyo Ė Japanís machine orders increased better-than-expected 4.7% in August. Nikkei extended losses after the yen rebounded for the third day. Fast Retailing said annual net income dropped 27% but held out for higher sales and earnings in the current fiscal year.
Stocks in Tokyo slipped following a pattern of the week and the yen rebounded from its four-year low for the third day.
The Cabinet Office said core machine orders in August climbed 4.7% followed by 3.5% gain in July. On a yearly basis, core machine orders declined 3.3% compare to 1.1% increase in the previous month.
The Nikkei 225 Stock Average slipped 117.05 or 0.7% to 15,478.93 and the broader Topix index dropped 14.07 or 1.1% to 1,260.78.
The yen gained 0.2% and closed at 107.69 against one dollar.
Stocks in Review
Daiwa House Residential Investment Corp
dropped 1.6% to 452,500 yen after the real estate developer said revenue in the first-half ending in August jumped 3.1% to 8.58 billion yen from 8.32 billion yen a year ago period.
Net income in the year climbed 14% to 3.08 billion yen compared to 2.70 billion yen and earnings per share increased to 8.24 yen from 7.37 yen for the same period a year ago.
Fast Retailing Co Ltd
jumped 1.5% to 37,255 yen after the apparel retailer reported revenue in the year ending in August surged 21% to 1.38 trillion yen from 1.14 trillion yen a year ago period.
Net income in the year tumbled 28.7% to 74.5 billion yen compared to 104.5 billion yen and diluted earnings per share declined to 730.81 yen from 1,025.75 yen for the same period a year ago.
Revenue outside of Japan in the flagship Uniqlo brand in the year soared 64.7% to 413.6 billion yen and domestic sales climbed 4.7% 715.6 billion yen and Same-store sales in Japan jumped 1.9% year on year.
For the year ending in 2015, the retailer forecasted revenue to climb 16% to 1.6 trillion yen and net profit to soar 34% to 100 billion yen.
Meiko Network Japan Co Ltd
declined 2.6% to 1,143 yen after the exam-preparatory school operator stated net sales in the year ending in August increased 1.9% to 15.57 billion yen from 15.28 billion yen a year ago period.
Net income in the year rose 1.4% to 2.20 billion yen compared to 2.17 billion yen and diluted earnings per share gained to 79.69 yen from 78.60 yen for the same period a year ago.
dropped 2.1% to 1,757 yen after the precision machine tools maker said net sales in the third-quarter ending in August climbed 15.8% to 74.52 billion yen from 64.34 billion yen a year ago period.
Net income in the year soared 22.1% to 7.08 billion yen compared to 5.80 billion yen and diluted earnings per share jumped to 67.98 yen from 55.70 yen for the same period a year ago.