4:30 PM Tokyo – Market averages in Tokyo eased from the recent 7-year high and investors focused on the latest batch of earnings. Citizen Holdings nine-month revenues jumped 5.6% and net soared 33%. Suntory Beverage & Food annual sales rose 12% and earnings advanced 16%. Mabuchi Motor net was ahead of expectations.
Stocks in Tokyo eased from the recent high and investors focused on the latest batch of earnings.
The Nikkei 225 Stock Average fell 66.36 or 0.4% to 17,913.36 and the broader Topix index nearly flat at 0.01 to 1,449.38. For the week, Nikkei 225 gained 1.3%.
The yen fell to 120.36 against one dollar.
Stocks in Review
Citizen Holdings Co., Ltd
tumbled 10.9% to 869 yen after the micro display and light-emitting diode provider said net sales in the nine-month period ending in December climbed 5.6% to 246.65 billion yen from 233.53 billion yen a year ago period.
Net income in the year soared 33.3% to 17.64 billion yen compared to 13.23 billion yen and earnings per share increased to 54.44 yen from 40.83 yen in the same period a year ago.
The company forecasted net sales in the fiscal 2015 to jump to 4.7% to 324.50 billion yen and net income to gained 9% to 19 billion yen.
Iida Group Holdings Co Ltd
climbed 5.9% to 1,639 yen after the homebuilder reported revenues in the nine-month period ending in December of 842.35 billion yen and net income of 19.77 billion yen without furnishing data of comparable period.
The homebuilder forecasted revenues for the year ending in March to be about 1.18 trillion yen and net income of about 23.50 billion yen.
J. Front Retailing Co Ltd
gained 0.9% to 1,618 yen after the clothing and houseware product retailer said sales in January increase 0.8% while department sales dropped 2.2% and sales from credit business segment declined 3.8%.
Sales from wholesale segment climbed 9.9% and Parco business sales rose 1.5%.
Mabuchi Motor Co., Ltd
surged 7.1% to 5,400 yen after the small motors maker reported said revenues in the year ending in December soared 13% to 122.54 billion yen from 108.40 billion yen a year ago period.
Net income in the year surged 72% to 18.09 billion yen compared to 10.52 billion yen and diluted earnings per share jumped to 258.02 yen from 150.10 yen in the same period a year ago.
Sumitomo Mitsui Trust Holdings Inc
gained 1.8% to 466.90 yen after the Nikkei news reported investment bank is in talk with Citigroup Inc to buy its credit card business for more than 50 billion yen, as the Citi plans to exit consumer banking in the country.
Suntory Beverage & Food Ltd
slipped 0.6% to 4,215 yen after the beverages and food maker reported net sales in the year ending in December jumped 12.1% to 1.26 trillion yen from 1.12 trillion yen a year ago period.
Net income in the year climbed 16.2% to 36.24 billion yen compared to 31.20 billion yen and earnings per share slid to 117.28 yen from 118.79 yen in the same period a year ago.
The company forecasted net sales in the fiscal 2015 to increase to 3.4% to 1.30 trillion yen and net income to climb 50% to 14.19 billion yen.