Nikkei Extends Gains, Yen Edges Lower

Hiruki Nakamura
24 Jun, 2015
New York City

Stocks in Tokyo extended gains and the yen weakened. Konica Minolta agreed to acquire the U.S. based Radiant Vision System for 30 billion yen. Nomura Research estimated higher sales and earnings in the current fiscal year.

[R]4:30 PM Tokyo – Stocks in Tokyo extended gains and the yen weakened. Konica Minolta agreed to acquire the U.S. based Radiant Vision System for 30 billion yen. Nomura Research estimated higher sales and earnings in the current fiscal year.[/R]

Market indexes in Japan closed higher but after the close Asian markets struggled after talks between Greece and international lenders collapsed.

The Nikkei 225 Stock Average gained 58.61 or 0.3% to 20,868.03 and the broader Topix index rose 3.49 to 1,679.89.

The yen closed at 123.92 against a dollar.

Stocks in Review

Japan Excellent, Inc fell 0.7% to 147,800 yen after the real estate developer lifted total revenues forecast for the second-half period ending in December to jump 11.8% to 10.78 billion yen from the previous guidance of 9.65 billion yen and net income to increase 6.4% to 3.16 billion yen compared to the earlier estimate of 2.97 billion yen.

The company also forecasted total revenues for the first-half ending in June 2016 of about 10.68 billion yen and net income of about 3.11 billion yen.

Konica Minolta Inc declined 3.8% to 1,483 yen after the industrial and medical optical devices maker agreed to acquire the U.S.-based measurement equipment maker Radiant Vision Systems for about 30 billion yen.

Nomura Research Institute Ltd slid 0.3% to 4,945 yen after the Nikkei news said information technology services provider’s net sales for the first-quarter ending in June to increase 4% to 100 billion yen and operating profit to jump 57% to 12.5 billion yen.

For the year ending March 2016, the company forecasted net sales to increase 5% to 425 billion yen and operating profit to soar 20% to 58 billion yen.