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Market Update

Nikkei in Longest Rally in Three Months on BOJ Easing Hopes


Author: Hiruki Nakamura
ticker.com
Last Update: 1:15 PM ET October 07 2015

4:30 PM Tokyo Nikkei average in Tokyo advanced for the sixth session in a row and extended longest winning streak in three months. Investor attention shifted to the next meeting of policymakers at the end of October. Aeon Mall Co said first-half sales rose 14% but net declined nearly 5%.

Nikkei in Tokyo extended gains for the third day in a row and investors focused on the latest earnings reports.

Investors shifted attention to the next Bank of Japan meeting scheduled on October 30 and speculated that the central bank may be ready to offer more easing steps.

At the last meeting, the Bank of Japan left its stimulus plan and reference rate on hold as widely expected. However, jobs market for professionals earnings more than 600,000 yen a month is very tight and wage pressures are building.

The Nikkei 225 Stock Average increased 136.88 or 0.8% to 18,322.98 and the broader Topix index rose 17.33 or 1.2% to 1,493.17.

The yen strengthened to 120.03 against a dollar.

Stocks in Review

Aeon Mall Co., Ltd gained 0.6% to 1,896 yen after the shopping centres operator reported net sales in the in the first-half ending in August jumped 14.3% from a year ago to 111.71 billion yen.

Net income in the year dropped 4.7% to 9.80 billion yen compared to 10.28 billion yen and diluted earnings per share decreased to 42.97 yen from 45.07 yen.

Aeon forecasted net sales for the year to surge 16.7% to 238 billion yen and net income may slightly up 0.4% to 24.60 billion yen.

Dentsu Inc rose 0.8% to 6,460 yen after the advertising and marketing company said total sales in September jumped 10.2% to 136.21 billion yen from a year ago month.

The company said revenues in television segment soared 9.5% to 52.92 billion yen and revenues in marketing promotion business surged 10.1% to 22.73 billion yen from same month a year ago.

NPC Incorporated increased 1.6% to 256 yen after the photovoltaic equipment maker stated net sales in the in the year ending in August tumbled 40.4% from a year ago to 9.35 billion yen.

Net income in the year surged to 561 million yen compared to 124 million yen and diluted earnings per share jumped to 25.47 yen from 5.65 yen.

The company forecasted revenues for the year to increase 16.2% to 10.86 billion yen while net income to decline 15.8% to 472 million yen.

Ryohin Keikaku Co Ltd plunged 6.9% to 24,200 yen after the Muji self-brand goods retailer reported net sales in the second-quarter ending in August soared 19.3% from a year ago to 147.45 billion yen.

Net income in the year surged 49.7% to 10.37 billion yen compared to 6.93 billion yen and diluted earnings per share gained to 389.65 yen from 260.71 yen.

For the year, the company forecasted net sales to advance 13.7% to 296 billion yen and net income to soar 20.9% to 20.10 billion yen.

SAN-A CO., LTD slumped 3.6% to 4,995 yen after the food and clothing retailer said net sales in the in the first-half ending in August increased 5.2% from a year ago to 87.67 billion yen.

Net income in the year jumped 13.6% to 4.43 billion yen compared to 3.90 billion yen and earnings per share rose to 138.63 yen from 122.05 yen.

The retailer estimated net sales for the year to increase 1.8% to 167.53 billion yen and net income to jump 5.3% to 7.97 billion yen.

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