| Dec 13 | Tokyo stocks close 1.37% higher on EU move to back tighter budget policing Close |
| Tokyo stocks rose 1.37 percent on Monday following a move by European Union leaders to back tighter budget policing in a desperate bid to save the debt-riddled eurozone. The Nikkei 225 index at the Tokyo Stock Exchange gained 117.36 points to close at 8,653.82. The Topix index of all first-section issues added 1.16 percent, or 8.57 points, to 746.69. Markets reacted positively as European leaders took a first step towards fiscal integration at their talks last week, said Yumi Nishimura, senior market analyst at Daiwa Securities. A total of 26 of the 27 EU states signalled their willingness to join a "new fiscal compact" to resolve the crisis threatening to break apart the monetary union. (Economic Times) |
| Dec 13 | TSE, OSE woo foreign investors |
| Japan's top two stock exchanges are starting campaigns to lure overseas investors after agreeing last month to merge amid falling trading volumes. Tokyo Stock Exchange Group Inc. is starting an English-language magazine, called Evolving Japan, targeting foreign investors, said bourse spokesman Kazuhiko Yoshimatsu. Osaka Securities Exchange Co. will hold its first overseas investor relations event this week to promote startup companies listed on its Jasdaq exchange, including auction website Rakuten Inc., according to Yumi Ito, a manager at the bourse's corporate services development group. (Japan Times) |
| Dec 12 | Nikkei gains on Europe deal; stops short of 75-day avg |
| The Nikkei average gained on Monday after European leaders agreed to draft a new treaty for deeper economic integration, but market players said the short-covering bounce may not last as the deal was no panacea for the region's long-term debt worries. The Nikkei closed just below its 75-day moving average and trading volume was thin, in a sign investors were still not confident that the worst for the debt crisis is over in Europe. "Europe is about one month behind the schedule they announced in October, in terms of putting the bailout fund to work and reinforcing banks capital. The European crisis will continue to be a burden on the market," said Mamoru Suzuki, chief economist at Mizuho Research & Consulting. (Reuters) |
| Dec 09 | Nikkei drops 1.5 pct, markets wary of euro zone debt crisis |
| Japan's Nikkei average fell on Friday and tested key support at its 25-day moving average after European leaders' agreement for fiscal integration failed to boost investor confidence about the euro-zone debt crisis. Trade volume spiked on the Tokyo exchange's first section to 2.57 billion shares, up 77 percent from its six-day average due to settlement of December futures and options in a closely watched major "SQ" special quotation. The Osaka Securities Exchange said after the close that Nikkei futures were settled at 8,478.46. (Reuters) |
| Dec 08 | Japanese Stocks Drop as Nikkei Futures Expire Amid Europe Woes |
| Japanese stocks fell, with the Nikkei 225 Stock Average slipping from a one-month high, as investors closed out futures on the last day of a contract ahead of meetings in Europe aimed at resolving the debt crisis. Nikon Corp., a camera maker that depends on Europe for about a quarter of its sales, fell 2.4 percent. Tokyo Electric Power Co., owner of the crippled Fukushima Dai-Ichi nuclear plant, sank 11 percent after a report it may be taken over by the government. Sumco Corp. slid 4.5 percent after the maker of silicon wafers for semiconducters forecast a loss. Aichi Steel Corp. led declines among large steelmakers after Credit Suisse Group AG cut its rating. (Bloomberg) |
| Dec 08 | Nikkei to stay near 4-wk high but resistance looms |
| Japan's Nikkei share average on Thursday is likely to stay near a four-week high struck the previous day, but its advance is expected to stall at technical resistance levels ahead of key events in Europe. Many market players said selling is likely to emerge between 8,700 and 8,800, where the Nikkei traded heavily from October to early November. The bottom of the cloud on the daily Ichimoku chart also looms at 8,747. On Wednesday, the benchmark Nikkei added 1.7 percent to 8,722.17, its highest close in four weeks and ending above its 75-day moving average for the first time since late October, supported by optimism on progress in the euro zone's efforts to contain its debt crisis. The broader Topix index gained 1.6 percent to 749.63. (Reuters) |
| Dec 06 | Nikkei falls over 1 pct after Europe warning |
| The Nikkei share average slipped on Tuesday, breaking a three-day rally, after a warning from Standard & Poor's raised fears of possible sovereign credit downgrades of top-rated European nations. Shares in Olympus Corp soared as much as 15 percent as investors bet that a panel report into its scandal-ridden accounts would not turn up any nasty new surprises which could lead to the stock being delisted from the Tokyo bourse. After the close, the panel said it found no evidence of involvement by organised crime. (Reuters) |
| Dec 05 | Tokyo shares end up as fast retailing, select exporters rise |
| Tokyo stocks rose on Monday, with the benchmark Nikkei Stock Average closing near a one-month high, as select exporters benefited from Italian austerity measures that helped the yen weaken, while heavyweight Fast Retailing surged on a favorable appraisal of its Uniqlo unit sales data. The Nikkei added 52.23 points, or 0.6%, to 8695.98 following the prior session's 0.5% advance. The benchmark index has now risen in five of the last six sessions. Today's closing level was the highest since Nov. 9. The Topix index of all the Tokyo Stock Exchange First Section issues also ended up 4.47 points, or 0.6%, to 748.61, with 27 of 33 subindexes ending in positive territory. (Wall Street Journal) |
| Dec 05 | Zynga rival Nexon's Tokyo IPO set at $1.2 billion: source |
| Online gaming firm Nexon Co will raise $1.2 billion after setting the price of its initial public offering at the mid-point of a pre-set range amid solid demand from investors, a source with knowledge of the matter told Reuters on Monday. Nexon will sell shares at 1,300 yen each after sounding out institutional and retail investors for the global offering last week, settling on the middle of a tentative range of 1,200-1,400 yen, the source said. The pricing comes after U.S.-based rival Zynga, known for its success with games on Facebook, was forced to lower its expected valuation in an IPO this month, due to weak markets and macroeconomic uncertainty. (Reuters) |
| Dec 03 | Analysis: Japan's silent majority may find voice over Olympus |
| Some big Japanese shareholders in disgraced firm Olympus Corp (7733.T) may support ex-CEO Michael Woodford's campaign to return to the helm -- a once-unthinkable step for investors that are more usually known for their discreet, hands-off approach. Experts say that outcome, though still uncertain, would be a rare case of activism and mark a big attitude change for domestic financial institutions which traditionally hold shares to cement business ties and prefer to avoid public battles. "There's never been an event that has actually forced people to say something needs to change. The real question is, could Olympus be a turning point?" said senior lawyer Edward Cole, whose work advising firms on share offerings and mergers makes him well acquainted with the attitudes of Japanese institutions. (AP) |
| Dec 03 | Nikko Asset IPO plan delayed over Europe debt crisis |
| Nikko Asset Management Co. has postponed its initial public offering on the Tokyo Stock Exchange as the deepening European debt crisis fuels global market turmoil. "As there is no need for the company to raise cash through an immediate listing, the company has decided that it is appropriate to suspend the listing during this time of market volatility," Nikko Asset said in an emailed statement Friday. "The company will seek to resume its listing plans when market conditions are more stable." Global stocks fell in the third quarter as the European debt crisis worsened, driving the MSCI World Index to its worst performance since the end of 2008. (Japan Times) |
| Dec 02 | Nikkei ends at 3-week high on receding eurozone fears |
| The Nikkei stock index rose to a three-week closing high Friday as fears over the eurozone debt crisis receded following successful bond auctions in France and Spain. The 225-issue Nikkei Stock Average ended up 46.37 points, or 0.54 percent, from Thursday at 8,643.75, the highest since finishing at 8,755.44 on Nov. 9. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 4.13 points, or 0.56 percent, higher at 744.14. (Mainichi) |
| Dec 02 | Japan's battle of Olympus |
 Is the Japanese sharemarket about to receive a nasty shock with the delisting of the Japanese camera and medical equipment giant, Olympus Corp?
That's the fear of investors, after the 92-year old sparked one of Japan's largest ever accounting scandals after it admitted that it hid more than $US1 billion in investment losses that dated back to the 1990s. The scandal has already triggered the resignation of three Olympus directors, and more executives are expected to leave in coming months.
The problems in the company first came to light when Michael Woodford, the company's former chief executive, started asking questions about more than $1 billion in excess payments that were made on a number of transactions it undertook in 2008.
Initially, the company denied any wrongdoing. But three weeks ago, Olympus finally admitted that it had failed to disclose some hefty losses that it incurred on investments in the 1990s, and had later tried to sanitise its books through the transactions. (Business Spectator  ) |
| Dec 01 | Nikkei surges as central banks' move calms jitters |
| The Nikkei stock average surged to a two-week high, breaking above a major resistance level on Thursday, after the world's central banks took coordinated action to ease funding strains among banks caused by the debt crisis in Europe. The central banks' move to offer cheaper dollar funding eased worries about an immediate meltdown in the global financial system, but market players remained cautious about prospects for resolution of the crisis. "This just means they expanded emergency measures. The more important point is whether Europe is going to have a bigger bailout fund, and that's still up in the air," said Soichiro Monji, chief strategist at Daiwa SB Investments. (Reuters) |
| Nov 30 | Nikkei ends lower, caution on euro zone persists |
| The Nikkei share average ended lower on Wednesday, reversing two days of gains on profit-taking as investors remained cautious over new developments in the euro zone debt crisis and looked to data later in the week. Strategists said the Nikkei was likely to tread water near 8,400 as investors await U.S. and Chinese manufacturing data on Thursday and U.S. employment data on Friday. "Weakness in Asian shares weighed on Tokyo stocks as well as talk that efforts to get the IMF to help Europe may be hitting a snag," said Masato Futoi, head of cash trading at Tokai Tokyo Securities. "But in general, trade is a bit thin and people are using these factors as an excuse to sell." The benchmark Nikkei ended the day down 0.5 percent at 8,434.61, and lost 6.2 percent in November. (Reuters) |
| Nov 29 | Japan stocks pare monthly loss as shippers, steelmakers rebound |
| Japanese stocks rose, with the Nikkei 225 Stock Average paring its biggest monthly loss since August, as shipping companies and steelmakers rebounded. Kawasaki Kisen Kaisha Ltd. and other shipping lines advanced, rising for a third day after the sector plunged by as much as 25 percent this month. JFE Holdings Inc. and Kobe Steel Ltd. both rebounded for a third day. Nikon Corp., a camera maker that depends on Europe for about a quarter of its sales, gained 2.5 percent on optimism leaders in the region will boost efforts to end the debt crisis. Japanese stocks extended gains in the final hour of trading amid daily turnover that was 30 percent lower than this year's average. (BusinessWeek) |
| Nov 29 | Bourses hoping for comeback |
| After more than half a year of talks, Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co. have finally decided to merge in January 2013, a crisis-driven move in response to growing pressure from international rivals. "The TSE could become one among (many) local exchanges from (its position) as a leading world financial center," a TSE official said of the decline in the bourses' international presence, with the Shanghai Stock Exchange exceeding the TSE in terms of average daily trading value in 2010. (Japan Times) |
| Nov 28 | Nikkei up nearly 2 pct, possible IMF aid for Italy in focus |
| The Nikkei average climbed almost 2 percent on Monday, helped by climbs in U.S. stock futures and by a report that the International Monetary Fund was considering support for Italy as bond yields across the euro zone spiked to new highs. An unsourced report in Italian daily La Stampa said up to 600 billion euros could be made available at a rate of between 4-5 percent to give Italy breathing space for 18 months after it paid a record 6.5 percent for six-month paper in a punishing bond sale on Friday. (Reuters) |
| Nov 26 | Japanese banks are too cheap to miss, says Paul Chesson |
| Paul Chesson, manager of the Invesco Perpetual Japan fund, has attributed his recent lacklustre performance to his high weighting to Japanese exporters in the technology sector, and his lack of exposure to pharmaceuticals, telecoms and utilities companies. In his latest fund update he said: 'A number of holdings in large exporters, including technology and electric appliances manufacturers underperformed the broader market given deteriorating global growth and continued yen strength.' Japan has been remarkably resilient over the year, despite the devastating earthquake and subsequent tsunami. This is in part due to an overbearish view by the market on the impact that the tsumami would have on earnings. The country has consistently beaten expectations, and disruption to supply chains and infrastructure appears to have been relatively short-lived. (citywire.co.uk) |
| Nov 25 | Nikkei drops 0.06% on uncertain outlook for eurozone debt crisis |
| Tokyo stocks edged down on Friday, with the benchmark Nikkei stock index retreating 0.06 percent on ongoing concerns about a lack of cohesion between leaders in the crisis-hit eurozone. Local brokers said that a meeting between German Chancellor Angela Merkel, President Nicolas Sarkozy of France and Prime Minister Mario Monti of Italy at which the three stated they would continue to stand by the euro, failed to impress. They said that investors were hoping to see the European Central Bank's (ECB) role expanded so that it would have the capability to lend to debt-ridden countries in the eurozone. But Merkel continued to tow her line and stated that the ECB should remain independent, despite some analysts believing that this could unravel the very fabric of the eurozone and derail its future as a single-currency hub. (Xinhua) |
| Nov 24 | Nikkei falls to lowest level since April 2009 |
| The Nikkei average fell more than 1.5 percent to its lowest intraday level since April 2009 on Thursday, hurt by a worrying German bond sale and expectations that mounting European debt concerns will continue to push overseas equities markets lower. But strategists say that Tokyo's fall is being tempered by expectations of buying by public pension funds, as well as the Bank of Japan's exchange-traded fund (ETF) purchases which are part of the central bank's liquidity-boosting program. "There are no reasons to be optimistic, but there is reason to expect BOJ and public pension fund buying, so the downside is supported for now," said Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley. (Reuters) |
| Nov 24 | Corporate law change eyed for investor suits |
| An advisory panel to the justice minister will recommend changes in the corporate law to enable shareholders to sue board members at subsidiaries and to strengthen the independence of external board members, according to draft amendments obtained by Kyodo News. The move comes as corporate governance is under scrutiny due to the Olympus Corp. and Daio Paper Corp. financial scandals. The Legislative Council is scheduled to compile an interim report by mid-December and call for public comments, and the government will also consider amending the corporate law. (Japan Times) |
| Nov 24 | Japan is fighting a losing battle on yen: UK Fund manager |
| Japan's yen will eventually rise to record highs near 60 against the dollar to help cancel out the current account surplus despite the country's best efforts to curb currency strength, a UK-based fund manager said. If governments left things alone realignments would be quicker, but they don't and because of that the process could take years, Andy Seaman, a fund manager at Stratton Street Capital told Reuters this week. "Sixty doesn't seem a long way from here, but its a lot more aggressive than many others are expecting." The yen shot to a record high of 75.31 against the dollar in October, but retreated as Japanese authorities citing excessive speculation and damage to the country's economy stepped in to push the yen lower. (Economic Times) |
| Nov 22 | Tokyo stocks end mixed as US debt worries |
| Tokyo stocks ended mixed Tuesday, with the headline index losing 0.40 per cent as investors digested news that US politicians had failed to agree on a debt-slashing deal. The Nikkei 225 index at the Tokyo Stock Exchange, which closed at its lowest level since March 2009 on Monday, lost a further 33.53 points to 8,314.74. However, the Topix index of all first-section issues added 0.10 per cent or 0.71 points to 717.79, ahead of a Japanese national holiday on Wednesday. The Nikkei stayed under pressure after a US Congress "supercommittee" failed to reach a deal to rein in the nation's huge deficit, driving down Wall Street shares. But Tokyo stocks rebounded from earlier lows, Daiwa Securities senior market analyst Yumi Nishimura said, adding the committee's failure had already been priced in on Monday. (tradingroom.com.au) |
| Nov 22 | Japan's 2 biggest exchanges to join hands amid intensifying global competition |
| The Tokyo Stock Exchange is making a $1.1 billion offer for its Osaka rival under a plan to join the two markets by January 2013 as global competition between bourse operators intensifies. The Tokyo Stock Exchange Group Inc. said Tuesday it will pay 480,000 yen ($6,239) for each share of Osaka Securities Exchange Co. in a tender offer. The TSE wants to buy between half and two-thirds of OSE's 270,000 issued shares. The offer represents a 14 per cent premium to OSE's closing price Monday. Japan's bourses are joining forces at a time of increasing competition and consolidation among the world's stock exchanges. Deutsche Boerse and NYSE Euronext are awaiting European Union approval of their merger, which would create the world's largest exchange operator. (canadianbusiness.com) |
| Nov 22 | Exchanges extend morning trading hours |
 he Tokyo Stock Exchange and four other exchanges have extended their morning trading sessions by 30 minutes to 11:30 a.m., starting Monday, to boost market activity.
The extension was first considered by the TSE, with the Osaka Securities Exchange, the Nagoya Stock Exchange, Sapporo Securities Exchange and the Fukuoka Stock Exchange following suit by extending their morning sessions.
By extending the morning trading session past 11 a.m., investors will be able to trade Japanese stocks more easily while keeping an eye on economic trends in Asian markets. (Yomiuri ) |
| Nov 22 | Buffett Sees Investment Opportunities in Japan After Olympus |
| Billionaire investor Warren Buffett said he's unfazed by the recent scandal at Japanese camera maker Olympus Corp. and is looking for investment opportunities in the nation's companies. "We're looking for companies that have some kind of sustainable competitive advantage," Buffett, chairman of Berkshire Hathaway Inc., said today at a news conference in Fukushima prefecture, northern Japan. "The fact that Olympus happens here or Enron happens in the U.S. doesn't affect our attitudes at all." "There are lots of opportunities in Japan," Buffett, 81, said in Iwaki city, adding that the earthquake hasn't changed his view on investing in the country. He said he is interested in "businesses that will be around for many, many decades." (BusinessWeek) |
| Nov 21 | Nikkei drops on Europe, U.S. debt worries |
| The Nikkei average fell to its lowest closing level since March 2009 on Monday, with key support looking fragile as newly installed European leaders grapple with sovereign debt woes and as a U.S. bipartisan committee looked set to miss a deficit reduction deadline. Olympus Corp surged 16 percent, rising by its daily limit as speculators rushed to buy shares of the troubled company even as long-term holders have cut their stakes and the company's outlook remains far from clear. In the United States, sources said the bipartisan deficit-reduction committee will announce that they failed to meet their deadline to find $1.2 trillion in budget cuts over the next decade. (Reuters) |
| Nov 21 | Shares in Japan's Olympus jump on hopes it will avoid delisting |
| Shares in Japan's Olympus Corp jumped more than 15 percent in early trade Monday on persistent speculation that the disgraced maker of cameras and endoscopes may avoid delisting despite the accounting scandal engulfing it. Japanese police, prosecutors and the securities watchdog are investigating Olympus after the 92-year-old firm admitted this month that it had hid investment losses for decades, disguising some of them as merger and acquisition payments. (Reuters) |
| Nov 21 | Buffett in Japan, spotlight on investment |
| Octogenarian billionaire investor Warren Buffett arrived on his first visit to Japan on Monday, fanning speculation about his possible investments in the country's battered stock market. Buffett, dubbed the 'Oracle of Omaha' for his long track record as a value investor, will hold a press briefing at 4.15 p.m. (2:15 a.m. EST) after touring a factory near the Fukushima Daiichi nuclear power plant crippled by the earthquake and tsunami in March. That disaster came just days before Buffett had been due to make his maiden visit to Japan. At the time, the head of Berkshire Hathaway Inc (BRKa.N) said the earthquake was one of those extraordinary events that created buying opportunities. In May, he said he would be "delighted" to invest in Japan. (Reuters) |
| Nov 21 | Despite everything, Japan looks like a bargain |
| Greg Kolb, portfolio manager of the Perkins Global Value fund, is positive on Japan because he says Japanese stocks are cheaper than anywhere in the world. He said: "Japan is extremely cheap. The Nikkei 225 index level is what it was in 1983. A 20-year bear market has eliminated optimism and enthusiasm for stocks. As value investors, we like that a lot. The Japanese market is trading on average at one-times book value. The US is double that." Fifteen per cent of the fund, which currently holds 87 securities, is invested in Japanese stocks. Kolb takes a broad view of sectors and has exposure to both export-oriented and domestic companies. He said: "It's a country-level opportunity that has been left for dead." Kolb said several Japanese stocks in his portfolio are trading below book value. "They don't have too much downside risk but do have considerable upside potential." (efinancialnews.com) |
| Nov 20 | Japan exchanges to merge in 2013: reports |
| Japan's two major bourses have agreed to merge in about January 2013, creating the world's second-largest stock exchange, according to reports. The presidents of the Tokyo Stock Exchange (TSE) and Osaka Securities Exchange (OSE) on Friday reached a basic agreement on the merger, the Nikkei business daily reported, citing unnamed sources. The two will integrate their operations within a few years after the merger by reorganising into four units specialising in cash stocks, derivatives, settlement and self-regulation, the Nikkei and Yomiuri newspapers reported. (AFP) |
| Nov 18 | Tokyo bourse braces for nervous week ahead |
| Japanese shares will remain at the mercy of investor fears over eurozone debt next week, analysts said, having closed on Friday at a nearly two-month low with a stronger yen denting exporters. Tokyo's Nikkei index has fallen in line with plummeting investor confidence in the eurozone, with Spain facing high borrowing costs ahead of general elections. "The outlook for next week is not very positive," said Kenichi Hirano, operating officer at Tachibana Securities. "US economic indicators released recently have been mixed but generally faring well. The market could have reacted positively to such data but the European situation is aggravating" the markets, Hirano said. "The market could have had the opportunity to stabilise after new governments (in Italy and Greece) boosted hopes of stronger measures to tackle the crisis," he said. (thebull.com.au) |
| Nov 18 | Tokyo stocks end down 1.23% at eight-week low |
| Tokyo stocks fell 1.23 percent to close at their lowest level in nearly eight weeks as growing fears of eurozone crisis contagion helped boost the yen, hitting exporters. The benchmark Nikkei 225 index at the Tokyo Stock Exchange fell 104.72 points to 8,374.91, the lowest finish since September 26. The Topix index of all first-section issues dropped 1.06 percent, or 7.73 points, to 719.98. "European sovereign debt problems (have) become even more serious," said Kenichi Hirano, operating officer at Tachibana Securities. Investors also avoided aggressive betting ahead of the weekend, which contributed to lacklustre trade, he told Dow Jones Newswires. (Economic Times) |
| Nov 17 | Top shareholder cuts stake in Japan's disgraced Olympus |
 Olympus Corp's biggest shareholder, Nippon Life Insurance, has reduced its stake in the 92-year-old Japanese firm which is now battling to keep the support of its lenders and survive a massive accounting scandal.
Nippon Life has cut its holding to 5.11 percent from 8.18 percent, a document filed with regulators on Thursday showed.
The move follows a meeting by Olympus executives with creditor banks and insurers the previous day to explain the disgraced company's financial situation. (Reuters ) |
| Nov 16 | Nikkei falls almost 1 pct; seen mired in recent ranges |
| The Nikkei stock average lost nearly 1 percent in thin trade on Wednesday but stayed in recent ranges as investors remained on edge about developments in the euro zone debt crisis. Olympus Corp jumped more than 15 percent as investors bought back its shares on hopes that the Tokyo bourse will not delist the scandal-hit company, while Elpida Memory Inc surged after a report that it will cut DRAM production to support prices. Rising yields in European debt markets overnight suggested the region's woes are not over yet. The spreads of French, Belgian and Austrian 10-year bond yields over German Bunds all hit their highest levels since the euro's launch in 1999, while the equivalent Dutch spread hit its widest since early 2009. (Reuters) |
| Nov 16 | Tokyo Stock Exchange Said to Forgo IPO on Path to Osaka Bid |
| Tokyo Stock Exchange Group Inc. dropped plans to sell shares to the public while it is in talks to buy a controlling stake in Osaka Securities Exchange Co., a person with direct knowledge of the matter said. The TSE will forgo an initial offering during negotiations to purchase as much as 66.6 percent of its rival by mid-2012, said the person, who declined to be named because the discussions are private. Osaka Securities' shares slipped 0.9 percent to close at 406,500 yen today. Japan's biggest bourses are discussing a merger after the country lost its place as the world's second-largest equity market to China. (BusinessWeek) |
| Nov 15 | Japan Stocks Fall as Turnover at Year's Lowest on Europe Concern |
| Japan's Nikkei 225 Stock Average fell for the first time in three days as Italian borrowing costs surged, reigniting concern Europe's debt crisis is spreading and damping the earnings outlook for Asian exporters. Turnover on the Tokyo Stock Exchange was the lowest this year. Nintendo Co., a game maker that gets more than 40 percent of sales in Europe, sank 2.5 percent. Elpida Memory Inc., Japan's biggest maker of computer memory chips, sank 9.1 percent amid low prices for memory devices. Sumitomo Mitsui Financial Group Inc., the country's second-biggest bank by market value, gained 1.4 percent after raising its profit forecast. Olympus Corp. surged by its daily limit for a second day after a report the scandal-hit company may avoid delisting. (BusinessWeek) |
| Nov 15 | Analysis: Japan walks tightrope to restore trust after scandal |
| Japanese regulators appear to be trying to regain the trust of investors unnerved by a scandal engulfing Olympus Corp, with a formula that would punish the executives responsible harshly but let the once-proud firm stay listed on the stock market. But the formula requires a tricky balancing act from the regulators as they grapple with one of the nation's biggest corporate scandals and with calls for more lasting reform. Japan's securities watchdog, police and prosecutors are probing the 92-year-old camera and endoscope maker in a rare joint effort after Olympus admitted last week that it had hid investment losses for decades using funds from M&A deals. (Reuters) |
| Nov 14 | Nikkei closes up 1 pct as Europe fears ease |
| The Nikkei average gained more than 1 percent on Monday, helped by an easing of fears about Europe's debt crisis, but investors were reluctant to push the market higher ahead of an Italian debt auction later in the day. Shares in scandal-hit Olympus Corp were overwhelmed by buy orders and remained untraded after a source familiar with the case said a fine could be imposed for false financial reports, a move that could help it avoid a delisting. Newly appointed leaders Mario Monti in Italy and Lucas Papademos in Greece are racing to form governments and limit the damage from the debt crisis that has engulfed the region. (Reuters) |
| Nov 12 | Lenders to grill Japan's Olympus as delisting looms: source |
| Lenders will confront Japan's Olympus Corp next week to demand an explanation for an accounting scandal engulfing the firm, a banking source said on Friday, though he denied reports they would seek more security over their loans. Prime Minister Yoshihiko Noda also weighed in, describing and calling for strict measures to preserve financial markets confidence. The disgraced maker of cameras and medical equipment risks being delisted from the stock market, and is being investigated by police and regulators, after it admitted this week to hiding investment losses for decades and using M&A payments to aid the cover-up. (Reuters) |
| Nov 11 | Japan's Topix Index Declines as Daio Paper, Tokyo Dome Plunge |
| Japan's Topix index edged down for a second day, the only major Asian benchmark not to rebound from yesterday, after Tokyo Dome Corp. plunged and Daio Paper Corp. joined Olympus Corp. on a watchlist for delisting. Tokyo Dome dropped 4.1 percent after the Yomiuri Giants, who play in the stadium, said the chairman of the team's owner interfered in coaching appointments. Daio Paper tumbled 19 percent after it was put on notice for possible delisting for missing an earnings deadline. The company last month said its former chairman took personal loans from it. Inpex Corp. pared losses after it denied a report that it's delaying a gas project. (BusinessWeek) |
| Nov 10 | Nikkei falls nearly 3 pct on Italy fears |
| Japan's Nikkei average fell nearly 3 percent on Thursday to its lowest close in five weeks after a surge in Italian bond yields signalled that the worst may not be over in Europe's debt crisis, while banks plunged after a drop in their global peers. Shares of Olympus Corp were overwhelmed by sell orders and remained untraded, ending down by their daily trading limit or 17 percent. After the close, the Tokyo Stock Exchange placed Olympus on its supervisory list, bringing the 92-year-old firm a step closer to delisting. (Reuters) |
| Nov 09 | Japanese shares close up 1.15% |
| Tokyo stocks rose 1.15 percent Wednesday, tracking Wall Street's gains after embattled Italian Prime Minister Silvio Berlusconi announced he would resign once key economic reforms are adopted. The Nikkei 225 index at the Tokyo Stock Exchange rose 99.93 points to 8,755.44. The Topix index of all first-section issues increased 1.54 percent, or 11.37 points, to 749.40. Scandal-hit camera maker Olympus remained under heavy selling pressure, losing 20.43 percent to close limit down at 584 yen, after plummeting 29 percent on Tuesday. Analysts said the future of the 92-year-old firm was now heavily clouded by the revelation and investors fear the company may face delisting. (Economic Times) |
| Nov 09 | Olympus shares dive another 20% as investors fear delisting |
 Shares in Japanese camera maker Olympus dived 20% in early trade on Wednesday after tumbling 29% the previous day on the revelation of the company's loss cover-ups since the 1990s.
Olympus shares suffered the daily limit loss of 150 yen to change hands at 584 yen, falling 20.43% from Tuesday's close and more than 76% since a scandal over unusually large fee payments first surfaced.
Analysts said the future of the 92-year-old firm was now heavily clouded by the revelation and investors fear the company may face delisting. (Japan Today ) |
| Nov 09 | Fast Retailing CEO: sticking to Uniqlo Japan |
| Fast Retailing Co (9983.T), Asia's largest apparel retailer, is sticking to its Uniqlo sales target in Japan, despite a weak start to the fiscal year due to a lack of new products and warm autumn weather, its top executive said. Chairman and Chief Executive Tadashi Yanai told Reuters in an interview on Tuesday that the firm had shrunk the product lineup too deeply at its Uniqlo casual-clothing chain as it focused on core products such as its HeatTech thermal underwear and down jackets. Sales at Uniqlo outlets open more than 12 months fell nearly 11 percent in September and 4 percent in October from year-earlier levels. (Reuters) |
| Nov 08 | Nikkei falls ahead of Italian vote, Olympus plunges |
| The Nikkei share average tumbled more than 1 percent on Tuesday, with investors fearful about Europe's debt situation ahead of an Italian parliamentary vote on budget reforms, and as scandal-hit Olympus plunged after saying M&A funds were used to cover securities losses. Italian woes pressured some stocks exposed to the debt-laden country, with Nomura Holdings Inc tumbling almost 15 percent. In Rome, Prime Minister Silvio Berlusconi defied huge pressure to resign as he struggled to hold a crumbling centre-right coalition together after being forced to accept intrusive IMF surveillance of his economic reforms. After the close on Tuesday, Toyota Motor Corp is set to post a drop in quarterly operating profit, with supply shortages due to the March earthquake having curbed production. (Reuters) |
| Nov 08 | Olympus Plunges After Saying Takeover Fees Used to Hide Losses |
| Olympus Corp. fell the most in at least 37 years in Tokyo trading after saying it used fees paid to advisers on the acquisition of Gyrus Group Plc and others to hide losses from investments made in the 1990s. The Japanese maker of endoscopes and cameras slid by as much as its daily limit of 29 percent, the biggest intraday loss since at least 1974, trading at 734 yen as of 9:51 a.m. on the Tokyo Stock Exchange. The benchmark Nikkei 225 Stock Average slid 0.3 percent. (BusinessWeek) |
| Nov 07 | Nikkei ends 0.39 pct lower on eurozone leadership concerns |
| Tokyo stocks closed lower Monday, with the benchmark Nikkei stock index dropping 0.39 percent, as political turmoil in the eurozone and the potential to compound the region's financial woes contributed to a circumspect market mood. Traders here said that investors once again become nervous over a potentially volatile political situation in Greece as Prime Minister George Papandreou agreed to step down to allow for emergency funding and held talks with Antonis Samaras, leader of the main opposition party, with the pair agreeing to form a coalition government. (Xinhua) |
| Nov 07 | Could Sony Be On The Road To Bankruptcy? |
| Sony (SNE) has dropped 18% since October 28, 2011. The sell-off was mainly due to the company's disappointing second quarter results. Sales decreased year-on-year, mainly due to the negative impact of the exchange rate and the decreasing sales of LCD TVs. CPS segment sales decreased 12%. This was primarily due to LCD TV sales price declines, resulting mainly from deterioration in market conditions in the Western markets, unfavorable foreign exchange rates and lower PC sales which reflected price competition. Operating loss was ¥34.6 billion, compared to plus ¥1.0 billion in the same quarter last year. This decrease was driven primarily by deterioration in the cost of sales ratio and decreasing gross profit resulting from the decrease in sales. (SeekingAlpha) |