Toyota Resumes China Production, Demonstration Worries Japan

Nigel Thomas
24 Sep, 2012
New York City

The Nikkei index in Tokyo edged lower after international trading offered weak outlook and gathering storms on relationship with China. Toyota resumes production at all nine factories in China today. All Nippon Airways plans to order 11 Dreamiliners from Boeing at list price of $3.3 billion.

[R]7:00 PM Tokyo – The Nikkei index in Tokyo edged lower after international trading offered weak outlook and gathering storms on relationship with China. Toyota resumes production at all nine factories in China today. All Nippon Airways plans to order 11 Dreamiliners from Boeing at list price of $3.3 billion.[/R]

Stocks in Tokyo traded lower on weak regional markets and rising tensions with China.

In addition, the latest private survey of businesses in China conducted between August 9 and September 3 by CBB International indicated businesses are confronting falling sales growth expectations and are looking to cut jobs.

The Nikkei 225 Stock Average dropped 40.71 or 0.4% to 9,069.29 and the broader Topix Index slid 2.70 to 753.68.

Stocks in Review

Japan Airlines Co Ltd advanced 1.1% or 40 yen to 3,720 yen and All Nippon Airways closed unchanged at 176 yen and said it plans to buy 11 additional Boeing 787-9 Dreamliner aircraft for 254.7 billion yen or $3.3 billion.

Mitsui O.S.K. Lines, Ltd slipped 9 yen to 200 yen and Kawasaki Kisen Kaisha, Ltd decreased 7 yen to 104 yen and Nippon Yusen K.K. down 5 yen to 149 yen.

Toyota Motor declined 50 yen to 3,150 yen and said it will resume production at nine plants in China today after the company halted production in response to anti-Japan demonstration.

Honda Motor Co. dropped 47 yen to 2,553 yen and Nissan Motor Co Ltd slumped 19 yen to 682 yen.

Nippon Steel lowered 6 yen to 162 yen and JFE Holdings Inc plummeted 55 yen to 1,070 yen. Tokyo Steel Manufacturing decreased 9 yen to 276 yen.

TDK dropped 40 yen to 3,070 yen, Murata Manufacturing Co slid 0.4% to 4,265 yen and Meiko Electronics Co Ltd plunged 5.4% or 608 yen.

Renesas Electronics Corp surged its daily limit of 80 yen or 31% to 336 yen on reports that a Japan controlled fund may participate with two domestic chip makers to counter the bid from the U.S. based private equity fund KKR & Co.

Canon Inc slumped 108 yen to 2,689 yen and Seiko Epson Corp slipped 10 yen to 527 yen and Ricoh Co Ltd declined 16 yen to 709 yen. Sony Corp dropped 29 yen to 967.

Panasonic Corp decreased 16 yen to 528 yen, Nikon increased 17 yen to 2,198 yen and Toshiba Corp, lowered 5 yen to 260 yen.

Olympus declined 3.8% to 1,437 yen, Nintendo Co. Ltd slumped 70 yen to 9,690 yen, Fujitsu slid 1 cent to 303 yen and Pioneer Corp. dropped 10 yen to 226 yen. Sharp Corp decreased 6 yen to 206 yen.

Fanuc Corp. plummeted 170 yen to 13,450 yen and Komatsu Ltd slipped 26 yen to 1,567 yen. Hitachi Construction Machinery Co dropped 16 yen to 1,300 yen.

FamilyMart Co Ltd, the convenience chain operator climbed 60 yen to 3,820 yen and Lawson advanced 70 yen to 5,840 yen. Ito En Ltd gained 15 yen to 1,550 yen.

Seven & I Holdings Co slumped 11 yen to 2,376 yen.

Yamada Denki jumped 45 yen to 3,620 yen. Nitori Holdings Co climbed 50 cents to 8,080 yen, apparel retailer Shimamura increased 150 yen to 9,150 yen and Sagami Co closed unchanged at 120 yen.

Fast Retailing Co. advanced 50 yen to 18,110 yen and J. Front Retailing Co. Ltd down 1 yen to 433 yen.

Kajima Corp slid 2 yen to 215 yen and Taisei Corp closed unchanged at 221 yen. Sekisui House Ltd increased 6 yen to 786 yen and Daito Trust Construction Co Ltd advanced 130 yen to 8,010 yen.

Credit Saison Co Ltd slumped 14 yen to 1,860 yen.

Tokyo Tatemono Co., Ltd closed unchanged at 292 yen and Mitsui Fudosan advanced 31 yen to 1,615 yen and Sumitomo Realty & Development Co. lowered 1 yen to 2,078 yen.

Inpex Corp slipped 1.9% to 479,000 yen and Japan Petroleum Exploration Co. slipped 20 yen to 3,175 yen. Tokyo Electric Power Company, Inc. lowered 1 yen to 132 yen.

Mitsubishi UFJ Financial Group up 1 yen to 376 yen and Sumitomo Mitsui Financial Group added 2 yen to 2,541 yen. Nomura Holdings, Inc lowered 3 yen to 287 yen.