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Tokyo stocks close up 0.90 percent

Tokyo stocks closed 0.90 percent higher Monday, lifted by a weaker yen and bargain-hunting, despite a surprise decline in Japan's factory output. The benchmark Nikkei 225 index added 131.80 points to close at 14,827.83, while the Topix index of all first-section shares rose 1.38 percent, or 16.37 points, to 1,202.89. The upbeat start to the week came after a better-than-expected rise in US consumer incomes and spending, which led New York's three main indices higher. The Dow rose 0.36 percent, the S&P 500 added 0.46 percent and the Nasdaq gained 0.11 percent.

Tokyo stocks close up 0.90 percent

Tokyo stocks closed 0.90 percent higher Monday, lifted by a weaker yen and bargain-hunting, despite a surprise decline in Japan's factory output. The benchmark Nikkei 225 index added 131.80 points to close at 14,827.83, while the Topix index of all first-section shares rose 1.38 percent, or 16.37 points, to 1,202.89. The upbeat start to the week came after a better-than-expected rise in US consumer incomes and spending, which led New York's three main indices higher. The Dow rose 0.36 percent, the S&P 500 added 0.46 percent and the Nasdaq gained 0.11 percent.

Mitsubishi Motors buys Ford's shuttered plant in the Philippines to grow in key Asian market

TOKYO - Japanese automaker Mitsubishi Motors Corp. said Monday it is buying Ford's shuttered plant in the Philippines to grow in market where car ownership is on the rise. Mitsubishi Motors said it was acquiring the plant in Laguna, south of Manila, from Ford Motor Co. to boost production and sales. Ford closed that plant in 2012. The Tokyo-based automaker did not give a price.

Fukushima plant groundwater dumping in sea to begin in May or later

The planned dumping in the sea of groundwater at the crisis-hit Fukushima Daiichi nuclear complex will start in May or later, the industry minister said Sunday. Tokyo Electric Power Co., the operator of the plant crippled by the March 2011 quake and tsunamis, has not said when a system to move groundwater to the nearby sea will start operating.

Yahoo Japan slumps to near four-month low after eAccess buy

TOKYO (Reuters) - Shares in Yahoo Japan Corp slumped 10.2 percent to a near four-month low on Friday after it said it will buy mobile network operator eAccess from Japanese wireless carrier Softbank Corp for 324 billion yen ($3.17 billion). "Yahoo is a content provider. What are they picking up spectrum for?" a Tokyo-based senior trader at a foreign bank said. "This is a very much non-core business. It doesn't make much rational sense for them."

Daihatsu aims to sell 660,000 minivehicles in FY 2014

Daihatsu Motor Co., the minivehicle-making subsidiary of Toyota Motor Corp., said Friday it aims to sell 660,000 vehicles in fiscal 2014 starting April 1 by introducing a total of six new or renovated models. Executive Vice President Tatsuya Kaneko told a press conference in Tokyo, although market conditions are expected to be "severe" due to the consumption tax hike in April, Daihatsu will try to attract new car buyers "by providing attractive products and undertaking sales reform."

Fukushima worker dies after accident: plant operator

A worker at the crippled Fukushima nuclear plant in Japan died in hospital Friday after being buried in earth and rubble while digging a hole at the site, the facility's operator said. When the accident occurred on Friday afternoon, the man was checking the foundation of a building, digging around the edge of the concrete structure, a Tokyo Electric Power Co. (TEPCO) spokesman said. "When he was checking underneath the foundation, a mass of concrete collapsed along with the earth around it and fell on him," he said.

Fukushima worker 'unconscious' after accident: plant operator

A worker at the crippled Fukushima nuclear plant in Japan was unconscious in hospital Friday after being buried in earth while digging a hole at the site, the facility's operator said. The man, in his 50s, was in a critical condition a few hours after the accident, the company said. "A worker was buried during the process of digging a hole. He was later rescued but is unconscious now," a spokesman for Tokyo Electric Power Co. (TEPCO) said.

Yen rises in Asia after upbeat Japan inflation data

The yen inched higher in Asia on Friday after Japan published upbeat inflation data which reduced the immediate likelihood of more easing measures from the Bank of Japan. In afternoon Tokyo trade the dollar bought 102.15 yen, compared with 102.17 yen on Thursday in New York where it was boosted by better-than-expected US economic data. The euro was worth $1.3743 and 140.35 yen against $1.3742 and 140.41 yen.

Japan's Feb. jobless rate down to 3.6%, lowest since July 2007

Japan's unemployment rate improved to 3.6 percent in February from 3.7 percent the previous month, government data showed Friday, indicating an expansion in corporate profits has prompted companies to hire more workers on the back of the nascent economic recovery. The figure is the lowest since July 2007, before the collapse of U.S. investment bank Lehman Brothers Holdings Inc. in September 2008 caused the global financial crisis and hurt Japan's economy.
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