4:30 PM Tokyo – Market indexes in Tokyo gained 0.9% after the yen eased against the dollar. The Nikkei trimmed the losses in the year so far to 12%, the worst decline among the largest 25 world markets. Sony commenced its worldwide job reduction plan.
Stocks in Tokyo gained and the yen traded near a two-month high as tensions between Russia and NATO nations continued to dominate world headlines.
The Topix index gained 1% from the six-week low and investors surmised the latest sanctions against Russia lacked teeth.
The Nikkei 225 Stock Average increased 133.60 or 0.9% to 14,411.27 and the Topix index gained 11.01 to 1,165.94.
Market indexes in Japan are leading the worst decline among the 25 developed world markets with a year-to-date loss of 12%.
The yen closed at 101.40 against the U.S. dollar.
Stocks in Review
Toyota Motor Corp
slid 13 yen to 5,550 yen.
Honda Motor Co
fell 35 yen to 3,563 yen after recalling more than 880,000 Odyssey minivans sold in North America.
Nissan Motor Co Ltd
jumped 2.2% to 869 yen after UBS raised its opinion on stock to “neutral.”
decreased 8 yen to 1,720 yen after the electronics products maker commenced to trim jobs worldwide and reduce expenses by $250 million.
climbed 262 yen or 3.2% to 8,372 yen. Fast Retailing Co
slipped 90 yen to 35,590 yen.
Mitsubishi Electric Corporation
jumped 3% to 1,147 yen after the electrical and electronic equipment maker raised its annual dividend payout.
climbed 2.8% to 622 yen after the UBS raised its opinion on stock to “buy” from “neutral.”
The company and Yaskawa Electric Corporation have completed a 1.3 mega watt solar photovoltaic plant for the U.S.-based First Solar Inc. in Fukuoka Prefecture of Japan.