4:30 PM Tokyo – Nikkei average and the yen eased and investors focused on latest earnings reports. Fuji Heavy Industries first-quarter sales surged 29% and Suzuki Motor lifted its annual sales and earnings outlook. Japan Tobacco said first-half sales were flat and net declined.
Stocks in Tokyo slipped and the yen was under pressure and investors focused on the latest batch of earnings.
The Nikkei 225 Stock Average slipped 37.13 or 0.2% to 20,548.11 and the broader Topix index edged up 0.08 to 1,659.60.
The yen eased to 124.06 against a dollar.
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jumped 1.5% to 5,610 yen after the snack, bakery and cereal food maker said net sales in the first-quarter ending in June climbed 14.5% to 59.83 billion yen from 52.27 billion yen in a year ago period.
Net income in the quarter jumped 3.1% to 3.48 billion yen compared to 3.38 billion yen and diluted earnings per share increased to 26.05 yen from 25.25 yen the same period a year ago.
Fuji Heavy Industries Ltd
declined 3.9% to 4,405 yen after the auto and equipment maker stated net sales in the first-quarter ending in June surged 29% to 765.3 billion yen from 593.4 billion yen in a year ago period.
Net income in the quarter soared 61.1% to 84.2 billion yen compared to 52.2 billion yen from the same period a year ago.
Isuzu Motors Ltd
fell 0.3% to 1,713.50 yen after the Nikkei daily said light commercial vehicles maker’s net sales for the first-quarter to climb 10% to 450 billion yen and operating profit to soar 20% to 45 billion yen.
Isuzu is schedule to release its earnings results on August 4.
Japan Tobacco Inc
gained 0.7% to 4.846.50 yen after the tobacco products maker reported net sales in the first-half ending in June was flat at 1.172 trillion yen from 1.174 trillion yen in a year ago period.
Net income in the quarter dropped 3.6% to 211.47 billion yen compared to 219.34 billion yen and diluted earnings per share slipped to 117.42 yen from 120.61 yen the same period a year ago.
The tobacco producer forecasted revenues for the year ending in December of about 2.35 trillion yen and net income of 471 billion yen.
Mitsubishi Chemical Holdings Corp
slipped 1% to 801.80 yen after the Nikkei news said diversified conglomerate’s operating profit for the firs-quarter is expected to jump more than two-fold to 70 billion yen.
increased 0.4% to 3,650 yen after the flexible circuit boards maker stated net sales in the first-quarter ending in June soared 18.2% to 176.10 billion yen from 149 billion yen in a year ago period.
Net income in the quarter surged 32% to 9.88 billion yen compared to 7.48 billion yen and diluted earnings per share jumped to 57.12 yen from 43.36 yen the same period a year ago.
For the first-half ending in September, the flexible circuit boards maker forecasted net sales to climb 23.1% to 386.50 billion yen and net income to soar 22.8% to 23 billion yen.
The company estimated revenues for the year to surge 9.6% to 760 billion yen and net income to drop 6% to 44 billion yen.
Suzuki Motor Corporation
jumped 3.4% to 4,467.50 yen after the auto maker said net sales in the first-quarter ending in June climbed 8.8% to 772.85 billion yen from 710.40 billion yen in a year ago period.
Net income in the quarter declined 15.5% to 31.70 billion yen compared to 37.53 billion yen and diluted earnings per share slumped to 56.50 yen from 66.88 yen the same period a year ago.
For the first-half ending in September, Suzuki estimated net sales to jump 4.8% to 1.50 trillion yen and net income to increase 2% to 55 billion yen.