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    2760   JP3571600000

TOKYO ELECTRON DEVICE LIMITED

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UPDATE1: Tokyo stocks rise on upbeat earnings, capped by profit-taking

11/15/2021 | 02:08am EST

Tokyo stocks rose slightly Monday as sentiment was lifted on a slew of robust earnings reports by Japanese companies, although advances were capped by investors moving to lock in gains from the market's three-day rally.

The 225-issue Nikkei Stock Average ended up 166.83 points, or 0.56 percent, from Friday at 29,776.80. The broader Topix index of all First Section issues on the Tokyo Stock Exchange finished 7.92 points, or 0.39 percent, higher at 2,048.52.

Gainers were led by service, transportation equipment, and pulp and paper issues.

The U.S. dollar was relatively weak in the upper 113 yen range, as the currency was sold after U.S. consumer sentiment in early November, released by the University of Michigan, declined to its lowest level in 10 years on concerns over rapid inflation, dealers said.

Stocks were higher from the outset, tracking advances on Wall Street late last week and buoyed by strong earnings results released Friday from firms including Tokyo Electron Device Ltd. and restaurant chain operator Skylark Holdings Co.

However, the market was top-heavy and moved in a narrow range throughout the day as the benchmark Nikkei inched up towards the psychological threshold of 30,000.

"Shares were initially buoyed by advances in U.S. shares, but a lack of fresh trading cues in the afternoon kept investors from chasing the upside," said Masahiro Ichikawa, chief market strategist at Sumitomo Mitsui DS Asset Management Co.

Meanwhile, the market showed limited reaction to weaker-than-expected gross domestic product data in Japan for the July-September period, brokers said.

The country's economy shrank a real 0.8 percent from the previous quarter, or an annualized 3.0 percent, amid the COVID-19 state of emergency as well as slow car sales and exports due to a global shortage of computer chips and parts, according to preliminary data released by the Cabinet Office.

On the First Section, advancing issues outnumbered decliners 1,054 to 1,029, while 100 ended unchanged.

Tokyo Electron rose 560 yen, or 1.0 percent, to 58,190 yen after the firm reported upbeat earnings that surpassed market expectations and revised upward its forecast for the business year through March from its previous estimate in August.

Among other high-tech shares, Taiyo Yuden added 150 yen, or 2.4 percent, to 6,430 yen, Screen Holdings climbed 130 yen, or 1.1 percent, to 11,610 yen, and Murata Manufacturing gained 103 yen, or 1.2 percent, to 8,681 yen.

Skylark Holdings surged 97 yen, or 6.5 percent, to 1,594 yen after releasing better-than-expected earnings results for the January-September period and lifting its profit forecast for the business year ending December.

Similar issues tracked the restaurant operator's advances, with Kura Sushi advancing 65 yen, or 1.7 percent, to 3,965 yen, while Colowide, which runs a wide range of Japanese-style pubs and restaurants, including the "yakiniku" grilled beef chain Gyu-Kaku, was up 38 yen, or 2.3 percent, to 1,674 yen.

Trading volume on the main section fell to 1,163.41 million shares from Friday's 1,321.45 million shares.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
SKYLARK HOLDINGS CO., LTD. -0.94% 1474 Delayed Quote.-1.52%
TOKYO ELECTRON DEVICE LIMITED -4.98% 5720 Delayed Quote.-8.37%
TOKYO ELECTRON LTD -6.06% 61590 Delayed Quote.-1.09%
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Financials
Sales 2022 174 B 1 522 M 1 522 M
Net income 2022 5 450 M 47,7 M 47,7 M
Net Debt 2022 - - -
P/E ratio 2022 10,9x
Yield 2022 3,41%
Capitalization 59 472 M 519 M 520 M
Capi. / Sales 2022 0,34x
Capi. / Sales 2023 0,32x
Nbr of Employees 1 247
Free-Float -
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Number of Analysts 0
Last Close Price 6 020,00 
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Managers and Directors
Atsushi Tokushige President & Representative Director
Koki Tanaka Manager-Finance
Noriyuki Kuga Chairman
Koji Nakajima Manager-Systems Technology
Yukio Saeki Director & Senior GM-Corporate Administration
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