4:30 PM Tokyo – The Nikkei 225 average rallied 2.6%, the largest one-day gain in more than two months. Investors returned to add more stock exposure following a rebound in oil and indexes in New York and in Europe. Dentsu accelerates its global expansion with more deals in France and Philippines.
Tokyo stocks rallied as bargain hunters returned ahead of the U.S. rate decision tomorrow following advances in New York and in Europe.
Dentsu signed two separate agreements to acquire JaymeSyfu Group and Same Same Agency Sas for undisclosed financial terms.
Orix Corp with a consortium signed a contract to take over the operation of two major airports in the Osaka Prefecture for 2.2 trillion yen and Shimamura’s nine-month operating profit increased 4%.
The Nikkei 225 Stock Average jumped 484.01 or 2.6% to 19,049.91 and the broader Topix index gained 38.36 or 2.5% to 1,540.72.
The yen weakened against the dollar to 121.89.
Stocks in Review
rose 1.7% to 6,690 yen after the advertising and marketing services provider agreed to acquire 70% stake in the Philippines-based digital services provider JaymeSyfu Group.
Separately, Dentsu Aegis Network Ltd agreed to acquire its French rival Same Same Agency Sas.
The company did not disclose financial details of both transactions.
jumped 3.9% to 1,698 yen after the leasing and financial services provider, in consortium with 30 other companies, signed a contract to take over the operation of two major airports in Osaka Prefecture for about 2.2 trillion yen.
The transfer of airport operations is scheduled for April 2016 and the duration of the contract is 44 years.
Shimamura Co., Ltd
gained 0.4% to 13,630 yen on the news that sale of the apparel and accessories retailer for the nine-month period ending in November jumped 7% to 410 billion yen and operating profit increased 4% to 31 billion yen.
The company forecasted operating profit for the year to surge 25% to 46 billion yen.
Top REIT, Inc
increased 1.9% to 453,000 yen after the real estate developer said net sales in the first-half ending in October dropped 4.4% from a year ago to 5.37 billion yen.
Net income in the period declined 8.6% to 1.67 billion yen and earnings per share slipped to 9.51 yen from 10.41 yen in the same period a year ago.
For the second-half, the company forecasted net sales to increase 1% to 5.42 billion yen and net income to jump 4.1% to 1.74 billion yen.