Nikkei Advances 2.6%, Exports Jumps 6.9%

Hiruki Nakamura
22 Oct, 2014
New York City

Nikkei 225 index in Tokyo soared 2.6% following the market advance in New York and Europe. September trade deficit rose 1.6% after energy import surged 21%. Fujifilm Holdings plans to increase Aviga drug that showed promise in treating Ebola-infected patients.

[R]4:30 PM Tokyo – Nikkei 225 index in Tokyo soared 2.6% following the market advance in New York and Europe. September trade deficit rose 1.6% after energy import dominated international trade. Fujifilm Holdings plans to increase Aviga drug that showed promise in treating Ebola-infected patients.[/R]

Market indexes in Tokyo advanced following the gains in New York and European markets and the yen eased.

The Ministry of Finance said merchandise trade deficit in September rose 1.6% to 958.33 billion yen compared to 943.25 billion yen in the same month a year ago.

Exports climbed 6.9% to 6.383 trillion yen from 5.970 trillion yen a year ago month while imports soared 6.2% to 7.341 trillion yen compared to 6.914 trillion yen in September 2013.

The Nikkei 225 Stock Average climbed 391.49 or 2.6% to 15,195.77 and the broader Topix index jumped 31.05 or 2.6% to 1,236.41.

The yen closed at 106.97 against one dollar.

Stocks in Review

Fujifilm Holdings Corp climbed 4.1% to 3,539 yen after the imaging, information solution provider plans to increase production of the anti-influenza drug Aviga for use by Ebola-infected patients after an initial trial showed few positive results.

Mitsubishi Chemical Holdings Corporation climbed 3.7% to 510.30 yen after the resin and compound maker revised sales forecast for the year to decline 2.8% to 1.72 trillion yen but profit to climb 230% to 33 billion yen.

Panasonic Information Systems Co Ltd inched up 0.07% to 2,839 yen after the information technology reported net sales in the second-quarter ending in September jumped 1.7% to 17.35 billion from 17.06 billion a year ago period.

Net income in the quarter plunged 27.6% to 1.12 billion yen compared to 1.55 billion yen and earnings per share slipped to 105.55 yen from 145.89 yen a year ago period.

Treasure Factory Co., LTD jumped 2.6% to 2,257 yen after the secondhand goods retailer said net sales in the first-half ending in August soared 116.2% to 4.92 billion yen from 4.23 billion yen a year ago period.

Net income in the period surged 154.3% to 243 million compared to 159 million yen and earnings per share climbed to 43.92 yen from 28.77 yen a year ago period.

Takata Corporation closed unchanged at 1,686 yen after the company’s air bags used by Honda, Toyota, BMW, Ford, Chrysler and Mazda.

The company said any additional costs of repairs for the 4.74 million vehicles subject to U.S. safety regulators would be minimal.

The company forecasted net loss of 24 billion yen for the fiscal year ending in March.