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Market Update

Nikkei Surges 3.3%, Toyota Sales Rise 14%

Author: Hiruki Nakamura
Last Update: 9:58 AM ET August 02 2013

4:30 PM Tokyo Stocks in Japan surged and the Nikkei advanced 3.3% as real estate and financial companies led the advance. The yen declined 1.3% and after the close Toyota reported 14% rise in sales and net jumped nearly 90%.

Stocks in Tokyo soared and the Nikkei index recorded its largest increase in five weeks after the yen weakened and tracked gains in the U.S. markets.

The Nikkei 225 Stock Average jumped 460.39 or 3.3% to 14,466.16 and the Topix advanced 32.78 or 2.8% to 1,196.17. For the week end, Nikkei 225 climbed 2.4%.

The yen gained in Tokyo trading to one-month high to close at 99.53 against one dollar.

Stocks in Review

Toyota Motor Corp climbed 210 yen to 6,430 yen and after the close the auto maker reported revenues in the first quarter jumped 13.7% to 6.25 trillion yen and operating income climbed to 663.3 billion yen from 353.1 billion yen a year ago. Net income surged to 562.1 billion yen compared to 290.3 billion yen.

In the quarter, vehicle sales in Europe and Asia dropped to 192,511 units and 394,866 units respectively.

Honda Motor Co. jumped 105 yen to 3,710 yen. Nissan Motor Co Ltd increased 32 yen to 1,071 yen.
Japan Exchange increased 6% to 10,030 after Tokyo Commodity Exchange, also known as Tocom, said it is considering to evaluate other system providers after its current five-year contract for trading platform from Nasdaq OMX Group Inc.

Tocom may keep the current system provider or replace with other system including the one available from Japan Exchange.

Sony rose 19 yen to 2,123 yen, Canon Inc gained 60 yen to 3,155 yen and Nikon closed unchanged at 2,049 yen.

Fanuc Corp climbed 510 yen to 15,990 yen and Softbank Corp jumped 230 yen to 6,900 yen.

Seven & I Holdings Co advanced 80 yen to 3,875 yen and Fast Retailing Co. soared 1,400 or 4.1% to 35,600 yen.

Mitsubishi UFJ Financial Group rose 18 yen to 643 yen and Sumitomo Mitsui Financial Group gained 110 yen to 4,780 yen.

Sharp Corporation climbed 3.4% to 425 yen after the electronic products maker reported net sales in the first quarter ending in June soared 32.6% to 607.9 billion yen and net loss for the quarter narrowed to 17.98 billion yen compared to 138.4 billion yen a year earlier.

Global smart-phone shipments climbed 46.7% to 229.6 million units and operating profit from solar-panel segment recorded to 6.8 billion yen but operating loss from LCD division narrowed to 9.5 billion yen.

Suzuki jumped 5.8% to 2,569 yen after auto maker lifted its full-year profit outlook by 11% to 100 billion yen.

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