Typhoon Phanfone Disrupts Life in Japan, Nikkei in 2-day Advance

Hiruki Nakamura
06 Oct, 2014
New York City

Stocks in Tokyo advanced for the second day in a row and the yen traded near a new low against the dollar in the year. Life was disrupted in several regions of Japan after the typhoon Phanfone made a landfall. Osaka Organic quarterly net rose 10%.

[R]4:30 PM Tokyo – Stocks in Tokyo advanced for the second day in a row and the yen traded near a new low against the dollar in the year. Life was disrupted in several regions of Japan after the typhoon Phanfone made a landfall. Osaka Organic quarterly net rose 10%.[/R]

Stocks in Japan surged for the second day in a row after exporters gained and automakers advanced.

Trading in Tokyo was lacklustre after the typhoon Phanfone made landfall and disrupting commerce and lives of thousands of Tokyo residents. Several factories were shuttered across the nation and travel was disrupted.

The Nikkei 225 Stock Average jumped 182.30 or 1.2% to 15,890.95 and the broader Topix index increased 13.86 to 1,296.40.

The yen gained 0.2% and closed at 109.51 against one dollar.

Stocks in Review

Osaka Organic Chemical Ind. Ltd gained 1.5% to 478 yen after the specialty chemical producer said net sales in the third-quarter ending in August jumped 3.4% to 17.37 billion yen from 16.80 billion yen a year ago period.

Net income in the quarter soared 10.4% to 699 million yen compared to 633 million yen and earnings per share increased to 30.50 yen from 27.63 yen a year earlier.

Tosei Corporation surged 7.3% to 705 yen after the real estate developer stated net sales in the third-quarter ending in August declined 6.9% to 27.09 billion yen from 29.10 billion yen a year ago period.

Net income in the quarter slipped 4.7% to 1.83 billion yen compared to 1.92 billion yen and earnings per share dropped to 37.95 yen from 41.78 yen in the quarter a year earlier.

Yondoshi Holdings Inc jumped 2.5% to 2,229 yen after the apparel maker reported net sales in the second-quarter ending in August climbed 5.1% to 23.82 billion yen from 22.66 billion yen a year ago period.

Net income in the quarter surged 18.8% to 1.54 billion yen compared to 1.30 billion yen and diluted earnings per share jumped to 56.32 yen from 47.44 yen in the quarter a year earlier.