Nikkei Extends Weekly Losses, Nexon Soars 20%

Hiruki Nakamura
14 Aug, 2015
New York City

Nikkei average in Tokyo extended weekly losses and the yen traded near low of the year so far. In volatile weekly trading, yen came under pressure after China devalued yuan for three days in a row. Asatsu-DK, the advertising company reported flat first-half revenues.

[R]4:30 PM Tokyo – Nikkei average in Tokyo extended weekly losses and the yen traded near low of the year so far. In volatile weekly trading, yen came under pressure after China devalued yuan for three days in a row. Asatsu-DK, the advertising company reported flat first-half revenues.[/R]

Nikkei average in Tokyo closed down and extended weekly losses after China devalued renminbi for three days in a row.

The Nikkei 225 Stock Average fell 76.10 or 0.4% to 20,519.45 and the broader Topix index slid 3.49 to 1,664.46.

For the week, Nikkei 225 decreased 0.9%.

The yen eased to 124.33 against a dollar.

Stocks in Review

Asatsu-DK Inc soared 6.9% to 2,875 yen after the advertising company reported net sales in the first-half ending in June edged up 0.4% to 175.11 billion yen from 174.49 billion yen in a year ago period.

Net income in the period surged 151.4% to 3.16 billion yen compared to 1.26 billion yen and diluted earnings per share jumped to 75.29 yen from 29.98 yen in the same period a year ago.

The company forecasted net sales in the year to increase 1.4% to 358 billion yen and net income to soar 28.5% to 4.75 billion yen.

Frontier Real Estate Investment Corp rose 0.6% to 529,000 yen after the real estate developer said net sales in the first-half ending in June declined 5.2% to 9.85 billion yen from 10.39 billion yen in a year ago period.

Net income in the period plunged 7.3% to 4.64 billion yen compared to 5.01 billion yen and diluted earnings per share fell to 9.36 yen from 10.10 yen in the same period a year ago.

Konaka Co Ltd gained 1.9% to 673 yen after the men''s clothing retailer stated net sales in the third-quarter ending in June slid 0.4% to 55.53 billion yen from 55.32 billion yen in a year ago period.

Net income in the quarter tumbled 21% to 2.44 billion yen compared to 3.09 billion yen and earnings per share dropped to 83.94 yen from 106.24 yen in the same period a year ago.

The retailer forecasted net sales in the fourth-quarter to jump 6.2% to 72.60 billion yen and net income to surge 27.2% to 2.20 billion yen.

Nexon Co Ltd surged 19.5% to 1,950 yen after the online game developer reported net sales in the first-half ending in June soared 12.1% to 94.64 billion yen from 84.39 billion yen in a year ago period.

Net income in the period surged 374% to 38.82 billion yen compared to 8.19 billion yen and diluted earnings per share jumped to 71.25 yen from 45.45 yen in the same period a year ago.

Skylark forecasted revenues for the year to increase 2.8% to 349.50 billion yen and net income to soar 49.9% to 14.19 billion yen.

For the year, the game developer forecasted net sales to jump 11.1% to 144.37 billion yen and net income to soar 38.6% to 46.88 billion yen.