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Market Update

Rising Global Bond Yields Drag Nikkei, Konica Minolta Surges


Author: Hiruki Nakamura
ticker.com
Last Update: 9:59 AM ET May 14 2015

4:30 PM Tokyo Rising bond market yields hovered stock market sentiment in Tokyo and 10-year Japanese government bond yield jumped to a two-month high of 0.47%. Railroad company stocks declined. Konica Minolta announced stock buyback and dividend hike. Toshiba plans to write down earnings in last three years.

Stocks and market indexes in Japan continued to trade sideways on the volatile global bond market.

10-year yield on Japanese bonds rose to 0.47%, matching a two-month high as financial markets around the world are re-pricing stocks in the face of rising interest rate environment.

The Nikkei 225 Stock Average slumped 194.48 or 0.9% to 19,570.24 and the broader Topix index dropped 12.72 to 1,591.49.

The yen closed at 118.90 against a dollar.

Stocks in Review

Daiichi Sankyo Company, Limited climbed 4% to 2,184 yen after the pharmaceutical company reported revenues in the year ending in March jumped 2.3% to 919.37 billion yen from 899.13 billion yen in a year ago period.

Net income in the year soared five-fold to 318.92 billion yen compared to 53.36 billion yen and diluted earnings per share climbed to 456.62 yen from 86.41 yen in the same period a year ago.

Dentsu Inc dropped 2.5% to 5,420 yen after the advertising and marketing services provider said net sales in the year ending in March climbed 10.4% to 728.63 billion yen from 659.77 billion yen in a year ago period.

Net income in the year surged 20.1% to 79.85 billion yen compared to 66.51 billion yen and diluted earnings per share jumped to 322.1 yen from 306.4 yen in the same period a year ago.

Hitachi Ltd gained 0.8% to 838.30 yen after the diversified conglomerate reported revenues in the year ending in March jumped 2.1% to 9.76 trillion yen from 9.56 trillion yen in a year ago period.

Net income in the year declined 8.9% to 241.30 billion yen compared to 264.98 billion yen and diluted earnings per share slipped to 49.97 yen from 54.86 yen in the same period a year ago.

Hitachi forecasted revenues for the first-half ending in September of about 4.7 trillion yen and net income of about 70 billion yen.

The conglomerate forecasted revenues for the year ending in March 2016 jump 1.9% to 9.95 trillion yen and profit to climb 28.6% to 310 billion yen.

Nikon Corporation edged up 0.06% to 1,715 yen after the image and video equipments maker said net sales in the year ending in March plunged 12.5% to 857.78 billion yen from 980.56 billion yen in a year ago period.

Net income in the year tumbled 60.8% to 18.36 billion yen compared to 46.82 billion yen and diluted earnings per share slumped to 46.21 yen from 117.88 yen in the same period a year ago.

For the first-half, Nikon forecasted net sales to drop 0.3% to 374 billion yen and net income to plunge 90.1% to 1 billion yen.

The company forecasted net sales for the fiscal year ending in March 2016 to increase 0.3% to 860 billion yen and net income to climb 8.9% to 20 billion yen.

Sharp Corporation slipped 1% to 200 yen after the electric and electronic equipments maker reported revenues in the year ending in March dropped 4.8% to 2.79 trillion yen from 2.93 trillion yen in a year ago period.

Net in the year swung to a loss of 222.35 billion yen compared to profit of 11.56 billion yen and diluted loss per share swung to a 131.51 yen from diluted earnings per share of 7.87 yen in the same period a year ago.

For the fiscal first-half, the company forecasted net sales to fall 2.1% to 1.30 trillion yen and operating profit to decline 65.8% to 10 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