4:30 PM Tokyo – Nikkei in Tokyo traded lower after weak sentiment and poor market conditions in Shanghai trading. Fast Retailing and SoftBank Group led the decliners among large companies in Tokyo. GDP in the previous quarter dropped 1.6%, meeting expectations.
Market indexes in Tokyo struggled and the Nikkei average closed lower in lacklustre trading as investors focused on latest batch of earnings.
The Nikkei 225 Stock Average fell 65.79 or 0.3% to 20,554.47 and the broader Topix index slid 0.65 to 1,672.22.
The yen eased to 124.37 against a dollar.
Stocks in Review
Don Quijote Holdings Co Ltd
slipped 1.7% to 5,200 yen after the discount stores operator reported net sales in the year ending in June soared 11.7% to 683.98 billion yen from 612.42 billion yen in a year ago period.
Net income in the period jumped 7.8% to 23.15 billion yen compared to 21.47 billion yen and diluted earnings per share increased to 146.63 yen from 136.56 yen in the same period a year ago.
The discount stores operator forecasted net sales for the first-half to advance 7.5% to 368 billion yen and net income of about 13.70 billion yen.
For the year, the retailer forecasted net sales to increase 6.7% to 730 billion yen and net income to edge up 0.7% to 23.30 billion yen.
H.I.S. Co., Ltd
slumped 2.1% to 4,365 yen after the Nikkei daily said travel company’s sales for the nine-month ending in June jumped 3% to 380 billion yen while operating profit soared 20% to 11 billion yen.
For the year, the company estimated operating profit to surged 22% to 19.4 billion yen.
Nagase & Co., Ltd
gained 0.7% to 1,631 yen after the paint, ink and plastic additives maker said net sales in the first-quarter ending in June rose 2.1% to 185.15 billion yen from 181.34 billion yen in a year ago period.
Net income in the period dropped 3.2% to 3.40 billion yen compared to 3.51 billion yen and earnings per share gained to 26.77 yen from 27.65 yen in the same period a year ago.
Nagase forecasted net sales for the year to jump 8.3% to 823 yen and net income to increase 6.9% to 12.10 billion yen.
Toyo Ink SC Holdings Co Ltd
increased 1.2% to 504 yen after the ink maker stated net sales in the first-quarter ending in June edged up 0.1% to 68.25 billion yen from 68.17 billion yen in a year ago period.
Net income in the period declined 18.3% to 2.62 billion yen compared to 3.21 billion yen and earnings per share fell to 8.79 yen from 10.75 yen in the same period a year ago.
The company forecasted net sales for the first-half to jump 3.9% to 145 billion yen and net income to tumble 43% to 5.60 billion yen.
For the year, the company forecasted net sales to increase 4.6% to 300 billion yen and net income to plunge 9.8% to 12 billion yen.