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Market Update : 
Konica, Orix Outlook Lifts Tokyo Stocks
Author: 123jump.com Staff
123jump.com
Last Update: 6:04 PM EDT May 12 2008

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Stocks in Japan rose on strong earnings forecasts from Konica Minolta and Orix Corp. A weaker yen also helped exporters. Electric utility companies fell for the second week in a row on record crude oil prices. In Tokyo trading Nikkei 225 rose 0.6% or 88.02 to 13,743.36, and the broader Topix Index increased 0.08% or 1.03 at 1,342.79.

 
Japan Today reported that Victor Co of Japan (JVC) and Kenwood Corp will finalize agreement to set up a holding firm on Oct 1 to integrate their business operations. The holding company will have Kenwood Chairman Haruo Kawahara as chairman and JVC President Kunihiko Sato as the president.
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