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Market Update

Tokyo Extends Rally to Fifth Day, Suntory IPO Closes Up 1.5%

Author: Hiruki Nakamura
Last Update: 3:13 AM ET July 03 2013

5:00 PM Tokyo – Market indexes in Tokyo traded higher for the fifth day in a row and the yen declined to a low in a month and crossed 100 to a dollar. Suntory Beverage rose modestly on the first day of trading after it raised $4 billion. Dentsu plans to raise $1.2 billion to pay for Aegis acquisition.

Stocks in Tokyo traded higher for the fifth day in a row and the yen fell to a low not seen since May 31.

The Nikkei 225 Stock Average fell 43.18 or 0.3% to 14,055.56 and the Topix added 1.97 to 1,173.81.

The yen weakened in Tokyo trading at 100.86 against one dollar.

Stocks in Review

Toyota Motor Corp closed unchanged at 6,230 yen and the automaker recalled around 185,000 vehicles globally including 130,000 vehicles in Japan about 7,050 vehicles from Germany and nearly 7,000 vehicles from France.

Honda Motor Co. rose 15 yen to 3,815 yen.

Nissan Motor Co Ltd added 6 yen to 1,051 yen after the U.S. sales in June climbed 12.9% to 104,124 from 92,237 units and Nissan division sales jumped 16.1% to 95,010 units a year earlier.

Sony slid 20 yen to 2,166 yen. Canon Inc fell 5 yen to 3,355 yen and Nikon up 12 yen to 2,312 yen.

Fanuc Corp increased 80 yen to 14,620 yen Softbank Corp dropped 100 yen to 5,800 yen.

Seven & I Holdings Co lowered 20 yen to 3,705 yen Fast Retailing Co. declined 500 to 34,800 yen.

Mitsubishi UFJ Financial Group rose 5 yen to 644 yen bank plan to acquire 75% in Thailand’s fifth-largest bank, Bank of Ayudhya for 560 billion yen or $5.6 billion.

The banks has the approval of General Electric Capital, which owns about 25% stake.

Sumitomo Mitsui Financial Group slid 5 yen to 4,695 yen.

Dentsu Inc. rose 0.2% to 3,475 yen after the advertising company plans to raise $1.2 billion yen to repay the debt, as in March of 2013, the Dentsu takeover the UK based Aegis Group Plc.

Dentsu today said in a statement on the company’s website that it intends to use the net proceeds of the issuance of new shares and the disposal of treasury shares to repay a part of its short-term debt borrowed for the acquisition of Aegis.

Mizuho Bank started its operations after merging with Mizuho Corporate Bank from last Monday morning.

Suntory Beverage & Food Ltd after the beverage maker stock rose modestly in its debut today and gained 1.5% to 3,145 yen. The company completed its initial public offering and prices shares at 3,100 each.

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