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Tokyo stocks down 0.12% by break

Agence France-PresseMay 16, 2013 20:46
Tokyo stocks lost 0.12 percent Friday morning after US stocks dipped following recent record-breaking gains. The benchmark Nikkei 225 index on the Tokyo Stock Exchange fell 17.69 points to 15,019.55 by the break, but the Topix index of all first-section shares rose 0.25 percent, or 3.11 points, to 1,248.34. Japanese shares faced selling pressure from the outset as foreign hedge funds took profits, brokers said.

Japan sees results from 'Abenomics' growth strategy, as GDP jumps 3.5 pct, beating forecasts

The Canadian PressMay 15, 2013 21:16
TOKYO - Japan's economy grew by a stronger-than-expected 3.5 per cent in annual terms last quarter, giving Prime Minister Shinzo Abe a boost as his government tackles reforms needed to ensure a sustained recovery from two decades of malaise. Stronger consumer spending and public works investment coupled with aggressive monetary easing lent oomph to the recovery that began in the last quarter of 2012, when annual growth was 0.3 per cent.

Tokyo stocks down 1.08% by break

Agence France-PresseMay 15, 2013 20:46
Tokyo stocks lost early gains to close Thursday morning's session down 1.08 percent, despite US shares hitting all-time highs and fresh data that showed Japan's economy grew between January and March. The benchmark Nikkei 225 index, which closed at its highest level in more than five years on Wednesday, was down 163.08 points to 14,932.95, while the Topix index of all first-section shares declined 1.45 percent, or 18.19 points, at 1,234.66.

For Japan lenders, Abenomics' pain comes first, gain later

May 15, 2013 17:30
By Taiga Uranaka TOKYO (Reuters) - Japan's top three banks forecast weaker annual earnings as aggressive monetary easing squeezes them out of a profitable government bond trade and forces them to rely more on bread-and-butter lending where margins remain razor-thin.

Japan banks post big annual profits, warn on outlook

Agence France-PresseMay 15, 2013 15:16
Japan's three largest banks on Wednesday reported healthy annual profits driven by their overseas operations, reduced costs and investment gains, but warned over the outlook for this year. Mitsubishi UFJ, the country's biggest lender, said its net profit for the fiscal year to March was down 13.1 percent to 852.62 billion yen ($8.3 billion). But the result beat the bank's own earlier forecast with the year-on-year drop largely due to a big one-time gain from the year before, it said.

Olympus books profit as it shrugs off accounting scandal

Agence France-PresseMay 15, 2013 07:31
Japan's Olympus said Wednesday it swung to an annual net profit as it turns the page on a huge accounting scandal, adding that it expects profits to more than triple in the current fiscal year. The camera and medical equipment maker said net profit for the year to March was 8.02 billion yen ($78 million), reversing a year-earlier loss of 48.99 billion yen. Sales were worth 743.85 billion yen, down 12.3 percent. The firm's return to profitability came as it rebuilds from a scandal for which several former executives are facing criminal charges.

Asia shares gain, Tokyo jumps as yen tumbles

Agence France-PresseMay 15, 2013 04:16
Asian shares were mostly higher Wednesday, with the tumbling yen pushing Japanese stocks to a fresh multi-year high as improving confidence in the US economy boosted prospects for regional exporters. Tokyo jumped 2.29 percent, climbing above the psychologically key 15,000-mark for the first time in more than five years to end at 15,096.03 as the greenback surged through the 102-yen level following record-setting gains on Wall Street.

Sharp forecasts 14.5 pct rise in its LCD panel sales in 2013/14

May 14, 2013 18:46
TOKYO (Reuters) - Sharp Corp, which makes display screens for Apple Inc, said it expects sales of liquid crystal display panels to rise 14.5 percent to 970 billion yen ($9.53 billion) in the year to March 31. Japan's LCD pioneer, which on Tuesday released its latest business results, forecast revenue from televisions to rise 3 percent to 400 billion yen in the current business year. ($1 = 101.7450 Japanese yen) (Reporting by Tim Kelly; Editing by Edmund Klamann)

Japan's Sharp forecasts return to profit in 2013/14

May 14, 2013 18:46
TOKYO (Reuters) - Sharp Corp said it expects to rebound to an operating profit in the year to March 31 as it battles to remain viable after averting failure last year through a bailout by its banks. In the current financial year, Sharp expects an operating profit of 80 billion yen ($786 million), compared with a loss of 146.27 billion yen in the latest year to March 31. The forecast compared with the average 52.9 billion yen profit estimate from 13 analysts surveyed by Thomson Reuters I/B/E/S.
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