Nikkei Participates in Asian Rally, Toyota Recalls Prius

Hiruki Nakamura
12 Feb, 2014
New York City

Real estate and financial services stocks lead the broad rally in Tokyo. The yen gained. Toyota recalled 1.9 million Prius. Nissan sales in China fell 0.4% in January. Softbank quarterly net declined and the wireless pushed ahead to explorer merger of Sprint and T-Mobile.

[R]4:30 PM Tokyo – Real estate and financial services stocks lead the broad rally in Tokyo. The yen gained. Toyota recalled 1.9 million Prius. Nissan sales in China fell 0.4% in January. Softbank quarterly net declined and the wireless pushed ahead to explorer merger of Sprint and T-Mobile.[/R]

Stocks in Tokyo gained following overseas markets advance in overnight trading and the yen strengthened against the U.S. dollar.

The Nikkei 225 Stock Average gained 81.72 or 0.5% to 14,800.06 and the Topix index jumped 15.32 or 1.3% to 1,219.60.

The yen rose to 102.53 against the U.S. dollar.

Stocks in Review

Toyota Motor Corp rose 26 yen to 6,020 yen and the leading global automaker plans to recall 1.9 million Prius vehicles produced worldwide since March 2009.

Honda Motor Co jumped 122 yen to 3,834 yen.

Nissan Motor Co Ltd gained 18 yen to 903 yen after the automobile company said its China sales fell 0.4% to 95,200 units in January from a year earlier following 70.4% jump in December and 95.7% in November.

Sony climbed 63 yen to 1,765 yen after the Nikkei reported the company is in talk with Apple to double the supply of image sensors for its new iPhone.

Softbank Corp slid 15 yen to 7,782 yen after the wireless conglomerate reported net sales in the third-quarter ending in December surged 132.8% to 1.96 trillion yen from 842.3 billion yen a year ago period.

Net income in the quarter declined 13.4% to 97.2 billion yen compared to 112.3 billion yen from a year earlier.

Fast Retailing Co slumped 705 yen to 36,630 yen.

Chiyoda Corporation declined 3.2% to 1,501 yen after the engineering construction company lowered full-year profit forecast to 0.5% from a year earlier and reported net income in the third-quarter plummeted 6% to 11.35 billion yen.

Mitsui Fudosan Co., Ltd closed unchanged at 3,295 yen after the real estate developer said sales in the third-quarter ending in December jumped 5.3% to 994.7 billion yen from 944.8 billion yen a year earlier.

Net income in the quarter surged 31.8% to 61.9 billion yen compared to 46.9 billion yen and diluted earnings per share climbed to 70.43 yen from 53.43 yen a year ago period.

The company lifted its net income forecast for the fiscal year ending in March to increase 9.3% and reiterated for net income of fiscal 2014 of 65 billion yen on revenue of 1.53 trillion yen.