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Market Update

Nikkei Drops to a 3-Week Low on Growing China Worries


Author: Hiruki Nakamura
ticker.com
Last Update: 1:02 PM ET August 20 2015

4:30 PM Tokyo Stocks in Tokyo declined following another week of volatile trading in Shanghai and weak commodities prices. Real estate information provider Next Co said quarterly revenues rose 58%. Nippon REIT said first-half sales and net rose more than 90%.

Stocks in Tokyo declined following another week of volatile trading in Shanghai and weak commodities prices.

The Nikkei 225 Stock Average slipped 189.11 or 0.9% to 20,033.52 and the broader Topix index slumped 24.60 or 1.5% to 1,623.88.

The yen eased to 123.83 against a dollar.

Stocks in Review

Fancl Corporation fell 0.8% to 1,807 yen after the cosmetics and nutritional supplements maker said total sales in July soared 13% to 7.25 billion yen from 6.42 billion yen in a year ago month.

Sales in cosmetic segment jumped 11.4% to 4.23 billion yen and sales in nutritional supplement business surged 18.5% to 2.40 billion yen and in other business sales increased 5.1% to 622 million yen.

For the year, total sales soared 20.9% to 29.37 billion yen compared to 24.28 billion yen in a year ago period.

Kobe Bussan Co Ltd slid 0.3% to 12,780 yen after the food ingredients retailer forecasted revenues for the fiscal year ending in October to jump 7% to 228 billion yen and net profit to soar 92% to 5 billion yen and same-store sales are estimated to increase 5%.

Kose Corporation decreased 1.2% to 11,770 yen after the cosmetics and makeup products maker reported net sales in the year ending in March jumped 9.4% to 207.82 billion yen from 190.05 billion yen in a year ago period.

Net income in the period soared 8.4% to 12.06 billion yen compared to 11.13 billion yen and diluted earnings per share increased to 211.37 yen from 195.2 yen in the same period a year ago.

For the first-half ending in September, the company revised its sales forecast to jump 11.9% to 111 billion yen from previous estimate of 99.20 billion yen and net income to surged 87.8% to 7.70 billion yen compared to earlier guidance of 4.10 billion yen.

Next Co., Ltd declined 3.4% to 731 yen after the online real estate information provider said revenues in July surged 58.1% to 1.99 billion yen from 1.25 billion yen in a year ago month.

Revenues in domestic real estate information services segment in July jumped 23.4% to 1.41 billion yen while revenues in custom-built houses and renovations segment plunged 20.2% to 59.05 million yen.

However, revenues in overseas services business surged to 302.61 million yen from 2.08 million in a year ago month.

Nippon REIT Investment Corporation slid 0.5% to 275,600 yen after the real estate developer said net sales in the first-half ending in June soared 90.8% to 4.60 billion yen from 2.41 billion yen in a year ago period.

Net income in the period surged 92.6% to 2.08 billion yen compared to 1.08 billion yen and diluted earnings per share jumped to 7.71 yen from 7.10 yen in the same period a year ago.

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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