4:30 PM Tokyo – Nikkei average eased and in volatile trading the reference index trimmed weekly gains. SoftBank Group was in focus on speculation that the founder Son is looking to take the telecom company private.
Stocks in Tokyo lacked direction and market indexes eased after a volatile week of trading.
Resources linked stocks closed higher and SoftBank was on focus on speculation that the company founder Masayoshi Son is looking to take the company private.
The Nikkei 225 Stock Average fell 35.40 or 0.2% to 18,264.22 and the broader Topix index edged down 0.71 to 1,480.23.
For the week, Nikkei 225 jumped 2.6%.
The yen strengthened to 120.70 against a dollar.
Stocks in Review
gained 2.6% to 1,788 yen after the electronic manufacturing equipment maker said net sales in the year ending in July soared 31.5% from a year ago to 15.83 billion yen from 12.04 billion yen.
Net income in the year surged 68.6% to 1.36 billion yen compared to 807 million yen and diluted earnings per share jumped 69.87 yen from 41.38 yen in the same period a year ago.
For the year, Ateam forecasted net sales to increase 26.4% to 20 billion yen and net income to gain 2.8% to 1.40 billion yen.
Aeon REIT Investment Corp
increased 1.5% to 128,800 yen after the real estate investment company said net sales in the year ending in July jumped 23.5% from a year ago to 9.16 billion yen from 7.42 billion yen.
Net income in the year advanced 26.4% to 2.97 billion yen compared to 2.35 billion yen and earnings per share increased 2,746 yen from 2,473 yen in the same period a year ago.
SoftBank Group Corp
fell 0.6% to 6,513 yen and Bloomberg said that the company founder is in talks with a lender and consider a possible management buyout, according to a report from Bloomberg.
Tokyu REIT, Inc
jumped in 2.3% 137,300 yen after the real estate developer said net sales in fourth-quarter ending in July declined 5.4% from a year ago to 7.13 billion yen from 7.54 billion yen.
Net income in the quarter plunged 9.9% to 2.40 billion yen compared to 2.66 billion yen and earnings per share slumped 2,450 yen from 2,721 yen in the same period a year ago.