Market Indexes in Japan Inch Closer to Erasing Yearly Losses

Hiruki Nakamura
26 Aug, 2014
New York City

The Topix and Nikkei indexes in Tokyo declined and the yen eased after rising for two weeks in a row. Nikkei slipped 0.6% and the Topix eased 0.5%. E-Seikatsu, the cloud services provider said quarterly net surged.

[R]4:30 PM Tokyo – The Topix and Nikkei indexes declined and the yen eased after rising for two weeks in a row. Nikkei slipped 0.6% and the Topix eased 0.5%. E-Seikatsu, the cloud services provider said quarterly net surged.[/R]

Market indexes in Tokyo closed higher and the Topix index fell after rising the most in last twenty trading days. The Topix index is just 1% away from erasing all its losses.

The Topix added 0.4% and the Nikkei gained 0.5% and the yen declined 0.3%.

The Nikkei 225 Stock Average slipped 92.03 or 0.6% to 15,521.22 and the broader Topix index fell 6.30 to 1,285.01.

The yen eased after rising for two weeks in a row and the currency declined 0.2% for the first time in ten days of trading.

The yen closed at 103.89 against one U.S. dollar.

Stocks in Review

E-Seikatsu Co., Ltd fell 0.7% to 298 yen after the cloud solution services provider said sales in the first-quarter ending in June dropped 1% to 450 million yen from 454 million yen from a year ago period.

Net income in the quarter surged 11 million yen compared to 1 million yen a year earlier.

Kintetsu Department Store Co Ltd declined 4.8% to 355 yen after the department stores operator lowered its consolidated revenue estimate for the first-half to 141 billion yen from 151 billion yen and operating profit estimate to 1.2 billion yen from 2.7 billion yen a year earlier.

Monex Group, Inc slid 0.3% to 324 yen after the online securities services reported revenue in July declined 13% to 3.93 billion yen from 4.52 billion yen while financial expenses in the month climbed 31.7% to 448 million yen compared to 340 million yen a year ago month.