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Market Update

Nikkei Rebounds 1.3%, Seven & I Jumps on Sales Outlook

Author: Hiruki Nakamura
Last Update: 10:52 AM ET July 07 2015

4:30 PM Tokyo Nikkei average rebounded a day after Greek historic no vote as investors focused on domestic and regional economic news. Seven & I forecasted net sales in first-half to jump 5%. Dentsu gained after reporting better-than-expected sales in June.

Nikkei average in Tokyo rebounded after investors looked ahead after historic no vote in Greece and focused on the domestic and regional economic development.

The Nikkei 225 Stock Average jumped 264.47 or 1.3% to 20,376.59 and the broader Topix index increased 16.87 to 1,637.23.

The yen closed at 122.69 against a dollar.

Stocks in Review

Dentsu Inc increased 2.1% to 6,470 yen after the advertising and marketing services provider said net sales in June soared 96.7% to 127.70 billion yen.

The company added revenues from television segment climbed 84.1% to 55.1 billion yen and revenues from newspaper and magazine business jumped 87% and 90.1% respectively. Revenues from marketing and promotion surged 116.8% to 16.87 billion yen.

Seven & I Holdings Co., Ltd jumped 2.4% to 5,393 yen after the convenience stores operator reported net sales in the first-quarter ending in May fell 2.1% to 1.44 trillion yen from 1.47 trillion yen in a year ago period.

Net income in the year climbed 6.9% to 42.23 billion yen compared to 39.52 billion yen and diluted earnings per share increased to 47.72 yen from 44.67 yen in the same period a year ago.

The convenience stores operator forecasted net sales in the first-half ending in August to jump 5.2% to 3.16 trillion yen and net income to climb 10.8% to 93 billion yen.

Seven & I forecasted net sales in the year to increase 6% to 6.40 trillion yen and net income to surge 11.6% to 193 billion yen.

Sparx Group Co., Ltd increased 1.1% to 271 yen after the investment advisor said total assets under management as of June 30 fell 0.5% to 10 billion yen compared to 10.06 billion yen in May but surged from 7.55 billion yen in a year ago month.

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