The Nikkei rose to 28,190.04 points, its highest level since June 9, before closing up 0.87 percent at 28,175 points. The index extended its gains for the third consecutive day and increased by 0.87 during the week. The broader “TOPIX” index rose 0.85 percent.
The shares of “Kikoman Corp” led the gains on the “Nikkei” index, and was the best performer, rising 9.25 percent after the company specialized in the food industry recorded strong profits.
Nippon Steel Corp. rose 8.31 percent after the company expected a six percent annual profit drop, much less than analysts’ expectations.
Apparel maker Fast Retailing rose 1.32% after it floated ideas about opening its first store in the United States for the cheap fashion brand GU this fall.
Shares of “Konami Corp. Entertainment” were the worst performer on the Nikkei index, falling 3.87 percent after the company announced a decline in profits despite the increase in revenue.
#Strong #corporate #earnings #results #push #Japanese #stocks #twomonth #high