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MarketScreener Homepage  >  Indexes  >  Nikkei 225    N225   JP9010C00002

NIKKEI 225

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Japan shares slip on weak earnings, caution ahead of U.S. jobs data

08/06/2020 | 11:27pm EST

TOKYO, Aug 7 (Reuters) - Japanese shares fell on Friday as the market reacted to a string of disappointing earnings and forecasts, while investors also took a cautious stance ahead of the U.S. non-farm payroll data for July and a long weekend.

The benchmark Nikkei share average fell 0.64% to 22,273.62 by the midday break.

Japan stock markets will be closed on Monday for a public holiday for observing 'Mountain Day'.

U.S. non-farm payroll due later in the day is widely expected to show jobs creation in the United States slowed in July from the previous month, indicating a resurgence in COVID-10 infections is undermining the world's largest economy.

SUMCO Corp, which produces equipment for making semiconductors, slid 9.77% after reporting a 26.8% decline in its January-September net profit.

SUMCO's fall dragged down its peer Advantest Corp by 4.04%, while Screen Holdings Co Ltd and Tokyo Electron Ltd lost 4.01% and 3.2%, respectively.

Shiseido Co Ltd slumped 9.3% after the cosmetics firm forecast a net loss and lower dividend for the full year.

Nikon Corp dipped 8.32% to its lowest since May 1995, as it forecast an operating loss of 75 billion yen ($710.56 million) for the fiscal year.

But not all earnings were bad, as game and electronic commerce industries saw a surge in demand from people staying at home due to the COVID-19 pandemic.

Nintendo Co Ltd rose above 2.42% after posting a five-fold jump in quarterly profit.

Square Enix Holdings Co Ltd spiked 13.87% and marked its record high, after the gaming company posted a 241.4% increase in its operating profit for the three-month period ended June 2020.

Mercari Inc also jumped 13.52% to its highest level since June 2018, as the flea market app operator logged a better-than-expected operating loss for the year ended June 30.

The broader Topix lost 0.23% to 1,546.32. ($1 = 105.5500 yen) (Reporting by Eimi Yamamitsu; Editing by Rashmi Aich)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ADVANTEST CORPORATION 0.55% 9170 End-of-day quote.18.63%
MERCARI, INC. -2.10% 5140 End-of-day quote.12.35%
NIKKEI 225 0.31% 28635.21 Real-time Quote.5.02%
NIKON CORPORATION 5.17% 855 End-of-day quote.31.34%
NINTENDO CO., LTD. -1.94% 62680 End-of-day quote.-4.79%
SCREEN HOLDINGS CO., LTD. 0.12% 8430 End-of-day quote.10.92%
SHISEIDO COMPANY, LIMITED -0.93% 7009 End-of-day quote.-1.78%
SQUARE ENIX HOLDINGS CO., LTD. -0.51% 5900 End-of-day quote.-5.75%
SUMCO CORPORATION 0.00% 2446 End-of-day quote.8.09%
TOKYO ELECTRON LIMITED 1.06% 43970 End-of-day quote.14.51%
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