Tokyo

Nikkei soars more than 3 per cent

Nikkei soars more than 3 per centTokyo - Tokyo stocks ended morning trading higher Tuesday as investor confidence was regained on a series of economic stimulus packages and the Asian stock market's advance the previous day.

The benchmark Nikkei 225 Stock Average rose 320.89 points, or 3.74 per cent, to 8,897.87. The index had lost 5 per cent Friday. The Tokyo market was closed Monday for a national holiday.

The broader Topix index of all first-section issues gained 28.83 points, or 3.19 per cent, to 895.95.

Fujitsu acquires Siemens' stake in computing joint venture

Fujitsu acquires Siemens' stake in computing joint venture Tokyo  - Japanese electronics concern Fujitsu is to take over full control of the Fujitsu Siemens Computers joint venture, according to Japanese media reports on Saturday.

Fujitsu and Munich-based Siemens AG had owned 50 per cent each of the computing firm, which was established in 1999.

Fujitsu is to make Siemens' share of the firm its own subsidiary, according to well-informed sources speaking to the Japanese business paper Nikkei.

NTT DoCoMo's net profit up 40 per cent in July-September period

Tokyo  - NTT DoCoMo Inc on Friday reported a net profit rise of 40 per cent to 173.1 billion yen (1.76 billion dollars) year-on-year for the July-September period on increased sales of handsets.

ANA's quarterly profit down 18.6 per cent

Tokyo  - All Nippon Airways Co (ANA) on Friday lowered its earnings forecast for the current fiscal year as it saw its second-quarter profits fall because of rising fuel prices and slow demand for air travel.

Japan's second-largest airline said its operating profit declined 18.6 per cent in the July-September period from the same quarter a year ago to 35.2 billion yen (358.48 million dollars).

Its net profit was down 2.7 per cent to 15.3 billion yen, and sales were down 5.8 per cent to 407.8 billion yen.

ANA attributed the results to slowing demand for domestic travel and severe competition with other airliners and railway transport services.

Asian markets mixed; Japan stocks down despite rate cut

Tokyo  - Markets across the Asia-Pacific ended a roller-coaster week mixed on Friday with key bourses in Hong Kong and Tokyo down despite a much-anticipated rate cut by the Bank of Japan.

Asian markets had posted significant gains mid-week with daily surges of up to 10 per cent or even more after a rate cut in the United States, making up for similarly heavy losses at the beginning of the week.

The Bank of Japan on Friday cut its key short-term interest rate to 0.3 per cent from 0.5 per cent to help the world's second-largest economy weather the global financial crisis.

Nissan halves profit forecast for fiscal 2008

NissanTokyo - Nissan Motor Co sharply cut its earnings forecast for the full year that runs through March 2009 on the yen's rise and slow overseas sales, the company said Friday.

Japan's third-largest automaker lowered its net profit projection by 53 per cent to 160 billion yen for the full year from an initial forecast.

Nissan halved an operating profit forecast at 270 billion yen for the full year and lowered sales by 7.2 per cent to 9.6 trillion yen.

For the second quarter through September, the automaker saw its net profit fall 38.8 per cent to 73.5 billion yen from a year before.

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