SoftBank Surges After Alibaba Lifts IPO Price, Tokyo Dome Drops

Hiruki Nakamura
16 Sep, 2014
New York City

Stocks in Tokyo closed lower after a three-day weekend and the Topix index fell from a six-year high. Tokyo Dome fell 3.6% after the baseball stadium operator said annual net income is likely to drop 38%. SoftBank gained after Alibaba lifted its IPO price range.

[R]4:30 PM Tokyo – Stocks in Tokyo closed lower after a three-day weekend and the Topix index fell from a six-year high. Tokyo Dome fell 3.6% after the baseball stadium operator said annual net income is likely to drop 38%. SoftBank gained after Alibaba lifted its IPO price range.[/R]

Stock in Tokyo closed lower and the broader Topix index declined from a six-year high after markets reopened after a three-day weekend.

The Nikkei 225 Stock Average slipped 36.76 or 0.2% to 15,911.53 and the broader Topix index fell 2.86 to 1,310.86.

The yen declined to close at 107.14 against one U.S. dollar.

Stocks in Review

3-D Matrix Ltd dropped 2.2% to 3,555 yen after the medical products maker said net loss in the first-quarter ending in July widened to 634 million yen compared to 340 million yen and loss per share increased to 31.39 yen from 17.90 yen a year earlier.

Tokyo Dome Corporation declined 3.6% to 484 yen after the entertainment services provider forecasted net income in the year to decline 38% to 5 billion yen and half-year profit to drop 30%.

Takashimaya Company, Limited slipped 1% to 884 yen after the department store operator said sales in August fell 0.3% and sales at four regional stores in Okayama, Gifu, Yonago and Takasaki slipped 0.3%.

Corporate segment sales declined 5.3% and sales from the cross-media business segment dropped 3.4%.