Daiwa, Nomura, JAL Earnings in Focus in Japan

Hiruki Nakamura
30 Apr, 2014
New York City

Nikkei index in Tokyo close higher and investors focused on domestic earnings. Daiwa Securities and Nomura Holdings reported a sharp jump in annual earnings. Fujitsu Limited quarterly net swung to profit. Japan Airlines annual net revenues increased 5.7%.

[R]4:30 PM Tokyo – Nikkei index in Tokyo close higher and investors focused on domestic earnings. Daiwa Securities and Nomura Holdings reported a sharp jump in annual earnings. Fujitsu Limited quarterly net swung to profit. Japan Airlines annual net revenues increased 5.7%.[/R]

Stocks in Tokyo closed higher in choppy trading and the yen closed nearly unchanged as tensions between Russia and West remained high and President Obama focused his Asia trip on the rising military strength of China.

The Nikkei 225 Stock Average rose 15.88 to 14,304.11 and the Topix index gained 1.70 to 1,162.44. For the month, Nikkei 225 declined 2.7%.

The yen closed at 102.37 against the U.S. dollar.

Stocks in Review

Toyota Motor Corp gained 43 yen to 5,516 yen. Honda Motor Co jumped 65 yen to 3,380 yen. Nissan Motor Co Ltd rose 0.3% to 877 yen.

Sony slumped 23 yen to 1,792 yen.

Softbank Corp added 40 yen to 7,590 yen. Fast Retailing Co Ltd slipped 370 yen to 31,770 yen.

Daiwa Securities Group Inc dropped 2.2% to 765 yen after the Japan-based brokerage and securities group reported net sales in the year ending in March climbed 22.3% to 642.8 billion yen from 525.4 billion yen a year ago.

Net income in the year surged 132.4% to 169.5 billion yen compared to 72.91 billion yen and earnings per share jumped to 98.71 yen from 42.89 yen a year ago period.

Fujitsu Limited rose 0.3% to 600 yen after the Japan-based communication technology company said net sales in the year ending in March jumped 8.7% to 4.76 trillion yen from 4.38 trillion yen a year ago.

Net in the year swung to a profit 48.61 billion yen compared to a loss of 79.92 billion yen and earnings per share swung to a 23.49 yen from a loss 38.62 yen a year earlier.

Japan Airlines Co Ltd gained 1.3% to 5,290 yen after the Japan-based airline company stated net sales in the year ending in March increased 5.7% to 1.31 trillion yen from 1.24 trillion yen a year ago period.

Net income in the year jumped 3.2% to 166.3 billion yen compared to 171.7 billion yen and earnings per share dropped to 916.90 yen from 946.71 yen a year earlier.

Nomura Holdings, Inc declined 2.6% to 588 yen after the Japan-based investment and brokerage group reported total revenue in the year ending in March declined 11.9% to 1.83 trillion yen from 2.08 trillion yen a year ago.

Net income in the year soared 99.2% to 213.6 billion compared to 107.2 billion yen and diluted earnings per share climbed to 55.81 yen from 28.37 yen a year earlier.