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Market Update

Nikkei Advances, Toyota to Build Plants in China and Mexico

Author: Hiruki Nakamura
Last Update: 6:43 PM ET April 03 2015

4:30 PM Tokyo – Stocks in Tokyo closed higher in thin trading and investors awaited jobs data in the U.S. Toyota said it plans to build additional manufacturing plants in China and in Mexico. Toyota estimated operating profit in the latest fiscal year of 2.7 trillion yen.

Stocks in Tokyo closed higher in thin trading as investors looked ahead to the U.S. jobless rate data.

The Nikkei 225 Stock Average jumped 122.29 or 0.6% to 19,435.08 and the broader Topix index gained 9.99 to 1,564.16.

For the week, Nikkei 225 increased 0.7%. The yen edged up to 119.66 against a dollar.

Stocks in Review

Nippon Express Co Ltd jumped 1.8% to 691 yen after the Nikkei news reported railroad, marine and air transportation services provider’s sales for the year ending in March is estimated to climb 8% to 1.9 trillion yen and operating profit to soar 20% to 49 billion yen.

SCSK Corp rose 0.9% to 3,465 yen after the Nikkei news said that the information technology company annual sales is expected to jump 3% to 310 billion yen and operating profit of about 30 billion yen on a strong demand in the financial services sector.

Toyota Motor Corp gained 0.6% to 8,426 yen after the automobile company plans to set up a new plant in China and in Mexico with an estimated cost of 150 billion yen. The plant construction at sites is expected to starts in 2018.

For the fiscal 2014 ending in March, Toyota forecasted consolidated operating profit of about 2.7 trillion yen.

Tosei Corporation increased 0.5% to 818 yen after the real estate developer reported net sales in the first-quarter ending in February rose 1.6% to 11.52 billion yen from 11.34 billion yen in a year ago period.

Net income in the year surged 59.4% to 1.39 billion yen compared to 872 million yen and earnings per share jumped to 28.80 yen from 18.07 yen in the same period a year ago.

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