Nikkei in Tokyo at Year's High; Inpex, Dentsu in Focus

Nigel Thomas
13 Jan, 2012
New York City

Stocks in Japan gained today and added for the week on the positive momentum in the international markets. Exporters and auto makers gained after the yen edged lower. Inpex Corp finalized its investment in the $34 billion natural gas plant. Dentsu estimated 8.4% increase in December revenues.

[R]8:00 PM Tokyo – Stocks in Japan gained today and added for the week on the positive momentum in the international markets. Exporters and auto makers gained after the yen edged lower. Inpex Corp finalized its investment in the $34 billion natural gas plant. Dentsu estimated 8.4% increase in December revenues.[/R]

Stocks in Japan gained on the gathering momentum in the international markets and a rise commodities prices. The yen edged lower against the euro but traded near a high of 11-year.

The Nikkei 225 Stock Average rose 1.4% to 8,500.02 and the broader Topix index increased 1% to 734.60. For the week, the Nikkei increased 1.3%.

In trading, 1.69 billion shares changed hands, up from 1.39 billion on Thursday. The yen eased 0.7% against the euro to 98.68 yen and traded near its 11-year high.

The largest oil importer and explorer, Inpex finalized its investment of $34 billion in an off-shore natural gas field off the coast of Australia. Inpex controls 73% stake in the project.

Stock Movers

Toyota Motor closed up 42 yen to 2,637 yen and Honda Motor Co. gained 83 yen at 2,553 yen and Nissan Motor Co Ltd increased 17 yen to 686 yen. Suzuki Motor Corp added 49 yen to 1,614 yen.

Sony Corp increased 8 yen to 1,327 yen, Panasonic Corp added 1 yen at 629 yen and Canon Inc closed up 100 yen to 3,255 yen.

Nintendo Co. Ltd decreased 120 yen to 10,340 yen and Nexon Co Ltd rose 33 yen to 1,198 yen.

Olympus Corp decreased 34 yen to 1,236 yen.

Nikon Corp rose 43 yen to 1,711 yen, Fanuc Ltd closed down 80 yen to 11,650 yen and Kyocera gained 100 yen to 6,220 yen. Casio Computer Co., Ltd increased 1 yen to 442 yen.

Elpida Memory Inc rose 3 yen to 311 yen, Ulvac, Inc rose 17 yen to 992 yen and Renesas Electronics Corp decreased 2 yen to 443 yen.

Mitsui O.S.K. Lines, Ltd decreased 1 yen to 257 yen, Kawasaki Kisen Kaisha, Ltd closed up 1 yen to 131 yen and Nippon Yusen K.K. increased 1 yen to 180 yen.

Tokyo Electric Power Company, Inc increased 2 yen to 209 yen.

Fast Retailing Co. increased 250 yen to 14,770 yen and J. Front Retailing Co. Ltd rose 3 yen to 369 yen.

Dentsu Inc soared 4.2% to 2,421 yen after the largest advertising agency said its December sales increased 8.4% from a year ago.

Ms&Ad Insurance Group Holdings, Inc closed up 14 yen to 1,456 yen and NKSJ Holdings Inc increased 17 yen to 1,524 yen.

Mitsubishi UFJ Financial Group rose 1 yen to 334 yen and Sumitomo Mitsui Financial Group increased 7 yen to 2,243 yen.

Inpex Corp rose 1.2% to 516,000 yen after the company finalized the investment of $34 billion in an offshore natural gas field in Australia in which it holds 73% stake.

Komatsu Ltd increased 77 yen to 1,979 yen. JGC Corp increased 3.9% to 1,975 yen and Chiyoda Corp gained 25 yen to 824 yen after their joint venture with KBR Inc was awarded $15 billion contract for an off shore natural gas project in Australia by Inpex Corp and France based Total SA.

Hitachi Construction Machinery Co increased 50 yen to 1,371 yen and Toyo Engineering Corp increased 3 yen to 297 yen and the company lowered its full-year net income outlook by 42% to 750 million yen on high yen and raw materials costs.

Softbank Corp closed down 5 yen at 2,168 yen, KDDI increased 1.1% to 499,000 yen and NTT DoCoMo, Inc closed up 0.9% to 140,800 yen.

Nippon Sharyo Ltd jumped 7% to 310 yen after the bullet train maker said it won a contract to build trains for Central Japan Railway Co. which closed up 0.1% to 649,000.