4:30 PM Tokyo – Nikkei average in Tokyo soared nearly 2% following the stronger-than-expected U.S. jobs report on Friday. Export sensitive stocks and trading companies led the gainers. Mitsui & Company agreed to acquire 35% stake in Australia based Santos Limited. NTT Corp estimated fiscal year sales to increase 2.7%. Toshiba plunged 7.5% on weak results.
Stocks in Tokyo closed higher led by a surge in shipbuilder, insurance and trading companies and supported by a weaker yen after the Friday's U.S. jobs report.
Mitsui & Co agreed to acquire 35% stake in Australia-based Santos Ltd and Toyo Tire & Rubber net swung to a loss.
The Nikkei 225 Stock Average soared 377.14 or 1.9% to 19,642.74 and the broader Topix index jumped 27.38 to 1,590.97.
The yen weakened to 123.48 against a dollar.
Stocks in Review
Chiba Bank Ltd
gained 1.5% to 880 yen after the banking services provider said net sales in the first-half ending in September rose 2.7% from a year ago to 118.06 billion yen.
Net income in the period declined 6.5% to 32.69 billion yen compared to 34.97 billion yen and diluted earnings per share dropped to 39.26 yen from 41.39 yen.
The bank forecasted net income for the year to increase 0.3% to 84.50 billion yen.
Mitsui & Co Ltd
jumped 2.3% to 1,540.50 yen after the trading company agreed to acquire 35% stake of Kipper gas and condensate field business from Australia-based oil producer Santos Limited for about 45 billion yen or A$520 million.
Nippon Telegraph and Telephone Corp
jumped 4.2% to 4,813 yen after the fixed and mobile services provider reported net sales in the first-half ending in September jumped 4% from a year ago to 5.59 trillion yen.
Net income in the period surged 30% to 377.32 billion yen compared to 290.33 billion yen and earnings per share slumped to 178.37 yen from 130.81 yen.
The company forecasted net sales for the year to advance 2.7% to 11.40 trillion yen and net income to soar 26.4% to 655 billion yen.
Toyo Tire & Rubber Co., Ltd
increased 1.8% to 2,671 yen after the tire maker stated net sales in the third-quarter ending in September jumped 4.8% from a year ago to 300.96 billion yen.
Net in the period swung to a loss of 4.31 billion yen compared to profit of 23.51 billion in the same period a year ago.
plunged 7.5% to 310 yen after the diversified company said net sales in the first-half ending in September declined 4.5% from a year ago to 2.97 trillion yen.
Net income in the period tumbled 29.1% to 37.3 billion yen compared to 52.6 billion yen and diluted earnings per share slumped to 8.81 yen from 12.42 yen.
For the year, the company estimated net sales to increase 6.7% to 860 billion yen and net income of 56 billion yen.