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Market Update

Topix in Tokyo at 7-Week High; Komatsu and Hitachi Construction Earnings Drop


Author: Hiruki Nakamura
ticker.com
Last Update: 11:30 AM ET January 28 2015

4:30 PM Tokyo Stocks in Tokyo extended gains and Topix closed at a seven-week high and yen eased a little. Chugai Pharmaceutical said annual sales increased 8.8%. FujiFilm net in nine-month period surged. Hitachi Construction Machinery and Komatsu reported weakening earnings.

Stocks in Tokyo extended gains and Topix closed at a seven week high after better than expected earnings from industrial and export focused companies.

The Nikkei 225 Stock Average rose 27.43 to 17,795.73 and the broader Topix index added 3.54 to 1,429.92.

The yen eased to close at 118.04 against one dollar.

Stocks in Review

Chugai Pharmaceutical Co., Ltd jumped 2.9% to 3,240 yen after the pharmaceutical products maker reported revenues in the year ending in December soared 8.8% to 461.11 billion yen from 423.65 billion yen a year ago period.

Net income in the year edged up 0.2% to 50.98 billion yen compared to 50.90 billion yen and diluted earnings per share edged up to 93.38 yen from 93.35 yen in the same period a year ago.

The company forecasted net sales for the fiscal 2015 to climb 5.5% to 486.50 billion yen.

FujiFilm Holdings Corporation rose 0.3% to 3,836 yen after the color films and digital camera maker stated revenues in the nine-month period ending in December gained 2.3% to 1.82 trillion yen from 1.77 trillion yen a year ago period.

Net income in the period surged 50.2% to 93.86 billion yen compared to 62.49 billion yen and diluted earnings per share jumped to 194.15 yen from 129.35 yen in the same period a year ago.

FujiFilm forecasted revenues in the year to increase 1.6% to 2.48 trillion yen.

Separately, the company plans to buy back as many as 3.3% shares or 50 billion yen.

Hitachi Construction Machinery Co Ltd slid 0.4% to 2,488 yen after the construction equipment maker said net sales in the third-quarter ending in December climbed 3.9% to 579.77 billion yen from 557.86 billion yen a year ago period.

Net income in the period plunged 10.5% to 15.30 billion yen compared to 17.11 billion yen and diluted earnings per share slipped to 72 yen from 80.53 yen in the same period a year ago.

Komatsu Ltd dropped 2.3% to 2,587 yen after the construction machinery and vehicle maker reported net sales in the nine-month period ending in December jumped 3.4% to 1.44 trillion yen from 1.39 trillion yen a year ago period.

Net income in the period rose 1% to 116.51 billion yen compared to 115.34 billion yen and diluted earnings per share increased to 122.15 yen from 120.88 yen in the same period a year ago.

The company forecasted net sales for the year to fall 1.5% to 1.93 trillion yen and net income to decrease 1.6% to 157 billion yen.

Mizuho Financial Group, Inc slipped 0.7% to 198.60 yen after the financial service provider said total revenues in the first-half ending in September surged 37.4% to 1.51 trillion yen from 1.10 trillion yen a year ago period.

Net income in the period soared 111.1% to 403.80 billion yen compared to 191.25 billion yen and diluted earnings per share climbed to 15.91 yen from 7.43 yen in the same period a year ago.

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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