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Tokyo: Nikkei closes near 10-week high on weak yen, corporate earnings

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[TOKYO] Japanese stocks closed near a 10 week high on Thursday as a weaker yen boosted prospects for exporters, and corporate-earnings and dividend related announcements stoked share buying.

The Nikkei share average gained 1 per cent to end the day at 19,116.41, its highest close since August 28.

Major food seasoning manufacturer Ajinomoto Co Inc jumped 5.5 per cent after raising its full-year guidance and announcing share buybacks. Japan Tobacco Inc gained 6.8 per cent after raising its full-year dividend payout to 118 yen per share from 108 yen per share. Together, the two companies helped lift the Topix subindex for food by 3.4 per cent, making it the top performing sector of the day.

Home electronics retailer Yamada Denki Co Ltd rose 3.3 per cent after it announced a raised full-year earnings outlook.

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Takata Corp plunged 25.2 per cent after its top customer, Honda Motor Co, said it would stop using the company's front air bag inflators.

The broader Topix rose 1 per cent to end the day at 1,555.10 with all but two of its 33 subsectors in positive territory.

The JPX-Nikkei Index 400 added 1 per cent to 13,979.69.

REUTERS

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