Nikkei Eases After Reaching Six-Week High, Chugai in Focus

Hiruki Nakamura
22 Oct, 2015
New York City

Stocks in Tokyo stepped back after the Nikkei reached to a six-week high at the close of yesterday. Chugai Pharmaceutical said nine-month sales increased 10% and net soared 20% and said full-year sales are expected to rise 5.5%. SPK Corp was halted after the release of first-half results.

[R]4:30 PM Tokyo – Stocks in Tokyo stepped back after the Nikkei reached to a six-week high at the close of yesterday. Chugai Pharmaceutical said nine-month sales increased 10% and net soared 20% and said full-year sales are expected to rise 5.5%. SPK Corp was halted after the release of first-half results.[/R]

Nikkei average in Tokyo edged lower after surging as much as 2% in the previous session on the expectation of additional stimulus from the Bank of Japan.

The Nikkei 225 Stock Average slipped 118.41 or 0.6% to 18,435.87 and the broader Topix index fell 8.59 to 1,518.22.

The yen strengthened to 119.73 against a dollar.

Stocks in Review

Chugai Pharmaceutical Co., Ltd decreased 1.5% to 3,845 yen after the pharmaceutical company reported net sales in the nine-month ending in September soared 10.3% from a year ago to 367.77 billion yen.

Net income in the period surged 19.9% to 47.65 billion yen compared to 39.73 billion yen and diluted earnings per share increased to 87.15 yen from 72.79 yen.

The company forecasted net sales for the year to jump 5.5% to 486.50 billion yen and net income to advance 10% to 85 billion yen.

Dentsu Inc slipped 1.8% to 6,470 yen after the advertising and marketing services provider’s subsidiary agreed to acquire France-based communications services provider ZoneFranche SAS.

Fujifilm Holdings Corp declined 4.8% to 4,500 yen after the Nikkei daily said films, digital cameras and other medical devices maker’s operating profit for the first-half ending in September is expected to jump 6% to 76 billion yen from 71.5 billion yen in the year-ago period.

The company estimated sales for the year to increase 4% to 2.58 trillion yen and profit to soar 10% to 190 billion yen.

OBIC Co., Ltd soared 7.4% to 6,110 yen after the information technology provider said net sales in the first-half ending in September jumped 4.2% from a year ago to 28.81 billion yen.

Net income in the period advanced 40.5% to 13.27 billion yen compared to 9.44 billion yen and earnings per share increased to 148.26 yen from 105.31 yen.

The company forecasted net sales for the year to increase to 60 billion yen and net income to soar 22.2% to 22.95 billion yen.

SPK Corporation was halted at 2,260 yen after the automobile parts trader stated net sales in the first-half ending in September increased 6.4% from a year ago to 19.50 billion yen.

Net income in the period declined 7.1% to 438 million yen compared to 471 billion yen and earnings per share decreased to 86.10 yen from 91.15 yen.