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Market Update

Nikkei Index Jumps 1.1% and Extends Weekly Surge to 3.8%

Author: Hiruki Nakamura
Last Update: 12:09 PM ET January 23 2015

4:30 PM Tokyo – Japan market indexes extended weekly surge after the ECB announced historic bond buying program. The yen weakened and insurance and shipping companies led the gainers. Aeon Co reported net income surged 47% in nine-month period.

Market indexes in Tokyo advanced and extended weekly gains following the larger than expected stimulus from the European Central Bank.

The ECB announced monthly bond purchase program of 60 billion euros till September 2016, essentially a plan to print money and inflate prices that is expected to spur economies in the euro zone and encourage consumers to spend more and save less.

The Nikkei 225 Stock Average jumped 182.73 or 1.1% to 17,511.75 and the broader Topix index gained 13.79 or 1% to 1,403.22. For the week, Nikkei 225 climbed 3.8%.

The yen slipped 0.3% to close at 118.35 against one dollar.

Stocks in Review

Aeon Co Ltd slid 0.2% to 1,247 yen after the convenience store operator reported net revenues in the nine-month ending in November climbed 9.9% to 5.08 trillion yen from 4.62 trillion yen a year ago period.

Net income in the period surged 47.4% to 29.36 billion yen compared to 19.93 billion yen and diluted earnings per share jumped to 34.27 yen from 18.30 yen in the same period a year ago.

The retailer forecasted net revenues for the year ending in February to soar 9.5% to 7 trillion yen and net income to increase 5.3% to 48 billion yen from a year ago.

OBIC Co., Ltd rose 0.3% to 3,745 yen after the Nikkei News reported the business management software provider’s group operating profit for the year is likely to soar 12% to about 18 billion yen and sales may climb 4% to around 41.5 billion yen.

The report added the company is expected to raise its year-end dividend to 35 yen per share, 5 yen more than the previous estimate.

Yaskawa Electric Corp climbed 5.7% to 1,569 yen after the engineering electrical equipment maker said net sales in the nine-month ending in November jumped 10.7% to 287.44 billion yen from 259.60 billion yen a year ago period.

Net income in the period advanced 59% to 17.91 billion yen compared to 11.26 billion yen and diluted earnings per share rose to 67.53 yen from 42.47 yen in the same period a year ago.

The company lifted net profit forecast for the year ending March to surge 38.5% to 23.5 billion yen from 22.5 billion yen and sales to jump 10% to 400 billion yen from a year ago period.

The company raised its annual dividend estimate to 20 yen per share from 18 yen per share a year ago.

Yamato Holdings Co., Ltd declined 3.4% to 2,416.50 yen after the home delivery service provider announced to discontinue its parcel delivery service to customers' mailboxes from April.

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