Tokyo - NEC Corp returned to the black in the second quarter of fiscal 2008 that runs through March 31.

The Japanese electronics company attributed a net profit of 1.28 billion yen (13.15 million dollars) in the July-September quarter to capital gains from selling shares. The result compared to a net loss of 5.72 billion yen in the same period a year before.

Operating profit for the second quarter plunged 42.4 per cent to 9.28 billion yen from 16.1 billion yen due to slow demand for telecommunication systems and microchips.

NEC reported sales of 1.13 trillion yen, up 0.5 per cent.

Tokyo - Japan's benchmark Nikkei 225 Stock Average ended Thursday trading up nearly 10 per cent to above the 9,000 level after the US Federal Reserve cut its key interest rate to spur the economy.

The Nikkei surged 817.86 points, or 9.96 per cent, to end at 9,029.76.

The broader Topix index of all first-section issues also jumped 69.05 points, or 8.32 per cent, at 899.37.

Tokyo - The Tokyo stock market opened more than 3 per cent higher Thursday after the US Federal Reserve cut its key interest rate to spur the economy.

The Nikkei 225 Stock Average gained 318.87 points, or 3.88 per cent, to 8,530.77.

The broader Topix index of all first-section issues was up 25.51 points, or 3.07 per cent, to 855.83.

Japan's central bank withdrew 1.5 trillion yen (15.41 billion dollars) from the money market Thursday after the key short-term interest rate fell below the official target.

Tokyo (dpa) - The Tokyo stock market opened higher Thursday after the US Federal Reserve cut its key interest rate to spur the economy. 

Tokyo - Sumitomo Mitsui Financial Group Inc on Wednesday said it expects full-year profits to fall by more than 60 per cent due to the global financial crisis.

Sumitomo Mitsui, one of Japan's three mega banks, expects its net profit to fall 62.5 per cent to 180 billion yen (1.9 billion dollars) for the fiscal year through March, compared to a 480-billion-yen profit it forecast in May.

Sumitomo Mitsui estimated its operating revenues for the financial year to decline 5.1 per cent to 3.7 trillion yen from an initially projected 3.9 trillion yen, due to rising loan-loss provisions as well as losses in its stock investments.

Tokyo - Nippon Steel Corp on Wednesday revised upward its full-year earnings forecast, despite reporting a decline in profits for the second quarter.

Japan's largest steelmaker expects net profit to increase 7 per cent to 330 billion yen (3.49 billion dollars) for the full year that ends on March 31, up from initial projections of 255 billion yen.

The company said the upward revision was due to falling prices of row materials and crude oil.

Sales were expected to rise 11.9 per cent to 5.4 trillion yen.

For the July-September period, Nippon Steel's net profit dropped 12 per cent to 78.92 billion yen from the previous year.