Nissan Earnings Soar on China Sales, Dentsu Acquires India Based Agency

Hiruki Nakamura
28 Jul, 2014
New York City

Stocks in Tokyo advanced after a choppy trading session and the yen gained as tensions persisted in Europe. Dentsu agreed to acquire a majority stake in India based Milestone Brandcom. Nissan earnings surged 37% on 10% sales increase.

[R]4:30 PM Tokyo – Stocks in Tokyo advanced after a choppy trading session and the yen gained as tensions persisted in Europe. Dentsu agreed to acquire a majority stake in India based Milestone Brandcom. Nissan earnings surged 37% on 10% sales increase.[/R]

Market indexes in Tokyo gained and the yen advanced after tensions in the euro zone persisted and Nissan Motor reported higher earnings driven by sales growth in China.

The Nikkei 225 Stock Average gained 71.53 or 0.5% to 15,529.40 and the broader Topix index rose 4.72 to 1,286.07.

The yen closed at 101.81 against one U.S. dollar.

Stocks in Review

Dentsu Inc gained 0.6% to 4,125 yen after the advertising company agreed to acquire 51% stake of India-based advertising agency, Milestone Brandcom Pvt. Ltd. with an option to gain full control by 2019.

Hulic Co Ltd rose 0.2% to 1,289 yen after the real estate developer said net sales in the second-quarter ending in June surged 251.7% to 123.1 billion yen from 35 billion yen a year ago period.

Net income in the quarter jumped 43.9% to 11.9 billion yen compared to 8.3 billion yen a year earlier.

Mizuho Financial Group, Inc increased 1.4% to 203.50 yen after the banking and securities services provider reported total revenue in the year ending in March declined 12.5% to 2.51 trillion yen from 2.86 billion yen a year ago.

Net income in the year plunged 43% to 498.5 billion yen compared to 875.4 billion yen and diluted earnings per share dropped to 19.64 yen from 34.47 yen a year earlier.

Nissan Motor Co Ltd rose 0.8% to 1,001.50 yen after the automaker reported net revenue in the first-quarter ending in June soared 10.4% to 2.47 trillion yen from 2.23 trillion yen a year ago period.

Net income in the quarter surged 36.7% to 112.1 billion yen compared to 82.02 billion yen and earnings per share climbed to 26.75 yen from 19.57 yen a year earlier.

ValueCommerce Co., Ltd plunged 10.1% to 844 yen after the advertising service provider stated revenue in the second-quarter ending in June climbed 11.2% to 6.26 billion yen from 5.63 billion yen a year ago.

Net income in the year jumped 7.4% to 511 million yen compared to 476 million yen and diluted earnings per share increased to 15.30 yen from 14.34 yen a year earlier.