4:30 PM Tokyo – Nikkei average in Tokyo closed higher and investors digested earnings reports for the third week in a row. Dai-ichi Life Insurance reported quarterly net rose 68% and revenues surged 13%. Toyo Tire & Rubber surged after estimating lower-than-expected decline in annual net income.
Nikkei average in Tokyo closed higher and investors digested earnings reports for the third week in a row.
The current account surplus in June decline to 558.6 billion yen from by 1.88 trillion yen surplus in May and from 363.9 billion yen deficit in the same month of a year ago, the Ministry of Finance said.
For the year, exports climbed 5.6% to 64.56 billion yen while import declined 4.6% to 63.54 billion yen.
Total bank lending in July jumped 2.6% to 489.397 trillion yen compared to 2.5% in June, the Bank of Japan said.
Excluding trusts, bank lending climbed 2.7% to 425.614 trillion yen 2.6% higher than the previous month.
The Nikkei 225 Stock Average increased 84.13 or 0.4% to 20,808.69 and the broader Topix index gained 12.10 to 1,691.29.
The yen eased to 124.47 against a dollar.
Stocks in Review
Dai-ichi Life Insurance Co Ltd
increased 1.4% to 2,525 yen after the life insurance company reported net sales in the first-quarter ending in June climbed 13.1% to 1.87 trillion yen from 1.65 trillion yen in a year ago period.
Net income in the quarter soared 68.3% to 115.22 billion yen compared to 68.47 billion yen and diluted earnings per share jumped to 96.95 yen from 68.95 yen in the same period a year ago.
Dai-ichi forecasted net sale for the year to decline 6.6% to 6.77 trillion yen but net income to surge 13% to 161 billion yen.
Japan Display Inc
surged 15.2% to 432 yen after the smart phone and tablet screen maker said net sales in the first-quarter ending in June more than doubled to 246.13 billion yen from 125.16 billion yen in a year ago period.
Net loss in the quarter narrowed to 461 million yen compared to 16.83 billion yen and diluted loss per share decreased to 0.77 yen from 28.02 yen in the same period a year ago.
For the second-quarter, the company estimated net sales jumped 62.1% to 260 billion yen and operating income of about 8 billion yen.
Recruit Holdings Co Ltd
gained 1.4% to 3,990 yen after the recruitment services provider said net sales in the first-quarter ending in June soared 12.5% to 344.18 billion yen from 305.81 billion yen in a year ago period.
Net income in the quarter surged 19.5% to 22.25 billion yen compared to 18.62 billion yen and diluted earnings per share increased to 39.36 yen from 35.13 yen in the same period a year ago.
For the year, the company forecasted net sale to climb 19.2% to 1.55 trillion yen and net income to decline 6.7% to 65 billion yen.
Screen Holdings Co Ltd
increased 2.6% to 669 yen after the semiconductor equipment maker stated revenues in the first-quarter ending in June jumped 6.9% to 56.12 billion yen from 52.47 billion yen in a year ago period.
Net income in the quarter climbed 45.8% to 3.43 billion yen compared to 2.35 billion yen and earnings per share advanced to 9.55 yen from 6.47 yen in the same period a year ago.
jumped 4.2% to 3,070 yen after the electronic parts and devices maker said net sales in the second-quarter ending in June fell 2.1% to 8.08 billion yen from 8.26 billion yen in a year ago period.