4:30 PM Tokyo – Stocks in Tokyo closed lower and extended 2-day losses to more than 3% after investors worried about the impact of the sharp plunge in oil prices since July. Hair transplant service provider and wigs maker, Aderans Co Ltd said sales growth though brisk edged lower in November.
Stocks in Tokyo declined for the second day in a row and extended 2-day loss to more than 3% as investors worried on the impact of steep decline in oil prices.
Oil explorers led the decliners and the yen strengthened after currency traders sought safe haven on the ongoing turmoil in Greece.
Russia’s President Vladimir Putin travelled to India and announced a deal to build 12 more nuclear power reactors as the fast growing nation look for ways to diversify electricity production sources.
Russia-based Alrosa, the largest diamond mining company, signed deal with 12 companies in India to supply diamonds worth $700 million each of the next three years.
Russia is looking for ways to diversify its diamond customer base and India, the largest polishing centre in the world is looking to source diamond to bypass expensive trading hubs of Antwerp, Belgium and Dubai, UAE.
The Cabinet office said core machinery orders in October declined 6.4% for the first time in five months to 778.0 billion yen compared to the previous month.
The Nikkei 225 Stock Average slumped 155.18 or 0.9% to 17,257.40 and the broader Topix index decreased 9.79 to 1,397.04.
The yen gained 0.9% to 118.69 against one dollar.
Stocks in Review
Aderans Co Ltd
decreased 1.5% to 1,249 yen after the hair transplant service provider said total sales in November jumped 110.7% from October and sales of ready-made wig from department store and directly operated salons soared 102.1% matching the previous month growth rate.
The company said sales from Bosley segment in the month surged 114.5% compared to 88.3% in October and sales of hair club business surged 102.2% from last month.
Nippon Telephone Inc
slipped 0.9% to 919 yen after the telecommunication service provider reported net sales in the first-half ending in October soared 20.6% to 3.90 billion yen from 3.23 billion yen a year ago period.
Net in the quarter swung to a loss of 81 million yen compared to profit of 47 million yen and loss per share swung to 23.94 yen from earnings per share of 13.85 yen in the same period a year ago.
The company forecasted net sales for the year to jump 7.9% to 8.25 billion yen and net income to decline 44 million yen from a year ago period.
Sosei Group Corporation
jumped 2.9% to 4,555 yen after the biopharmaceutical company agreed to acquire Jitsubo Co., Ltd., a peptide technology provider for about 431 million yen and the transaction is expected to close on December 26.
Senshu Electric Co., Ltd
rose 0.3% to 1,755 yen after the electronic equipments maker said net sales in the year ending in October climbed 8.8% to 75.93 billion yen from 69.79 billion yen a year ago period.
Net income in the quarter surged 26.2% to 1.66 billion yen compared to 1.32 billion yen and earnings per share jumped to 158.82 yen from 125.83 yen in the same period a year ago.
The company estimated revenues for the fiscal first-half ending in 2015 to increase 1.6% to 38.70 billion yen and for the year net sales to increase 1.8% to 77.30 billion yen from fiscal 2014.