Nomura Net Rises 5%; Earnings Focus on Ebara, Bridgestone, Takata

Hiruki Nakamura
12 May, 2015
New York City

Nikkei average in Japan closed nearly unchanged and investors focused on another batch of corporate earnings. Nomura said annual net rose 5% and revenues rose 4%. Ebara and Hoya jumped but Bridgestone, Takata and Taiyo Yuden declined on earnings.

[R]4:30 PM Tokyo – Nikkei average in Japan closed nearly unchanged and investors focused on another batch of corporate earnings. Nomura said annual net rose 5% and revenues rose 4%. Ebara and Hoya jumped but Bridgestone, Takata and Taiyo Yuden declined on earnings.[/R]

Market averages closed nearly flat and investors reacted to corporate earnings announcements.

The Nikkei 225 Stock Average edged up 3.93 to 19,624.84 and the broader Topix index rose 3.94 to 1,602.27.

The yen closed at 120.17 against a dollar.

Stocks in Review

Bridgestone Corp declined 3.3% to 4,749.50 yen after the tire maker said net sales in the first-quarter ending in March jumped 3.5% to 893.66 billion yen from 863.63 billion yen in a year ago period.

Net income in the quarter fell 0.5% to 71.59 billion yen compared to 71.97 billion yen and diluted earnings per share slid to 91.31 yen from 91.81 yen in the same period a year ago.

The company forecasted net sales in the first-half ending in September to climb 7.4% to 1.88 trillion and net income to drop 3% to 138 billion yen.

The tire maker estimated net sales for the year ending in March 2016 to soar 8.3% to 3.98 trillion yen and net income to jump 6.1% to 319 billion yen.

Nomura Holdings, Inc slumped 2% to 787.90 yen after the securities and commodities broker reported revenues in the year ending in March climbed 4.2% to 1.60 trillion yen from 1.56 trillion yen in a year ago period.

Net income in the year climbed 5.2% to 224.8 billion yen compared to 213.6 billion yen and diluted earnings per share increased to 60.03 yen from 55.81 yen in the same period a year ago.

Resona Holdings Inc jumped 2.1% to 651.40 yen after the financial services provider reported revenues in the year ending in March climbed 4.2% to 861.28 billion yen from 826.94 billion yen in a year ago period.

Net income in the year slumped 4.2% to 211.48 billion yen compared to 220.64 billion yen and diluted earnings per share jumped to 84.28 yen from 64.97 yen in the same period a year ago.

Resona forecasted net revenues in the year ending in March 2016 to plunge 23.8% to 254 billion and net income to plummet 17.2% to 175 billion.

NOK Corporation rose 0.3% to 3,765 yen after the flexible circuit boards maker said net sales in the year ending in March soared 17.3% to 693.69 billion yen from 591.39 billion yen in a year ago period.

Net income in the quarter surged 115.2% to 46.81 billion yen compared to 21.76 billion yen and earnings per share climbed to 271.21 yen from 126.16 yen in the same period a year ago.

Shinsei Bank Ltd gained 0.8% to 250 yen after the bank and financial services provider stated revenues in the year ending in March climbed 5.9% to 397.39 billion yen from 375.23 billion yen in a year ago period.

Net income in the year soared 64% to 67.87 billion yen compared to 41.37 billion yen and diluted earnings per share slid to 91.31 yen from 91.81 yen in the same period a year ago.

Takata Corporation slipped 2% to 1,628 yen after the automotive air bag maker forecasted net for the year ending in March swung to profit 20 billion yen compared to a loss of 296 billion yen and global sales to climb 9% to 700 billion yen.

Takata estimated 7 billion yen in fiscal 2015 for additional costs related to air bag recall to cover legal and consulting charges.