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Market Update : 
Realty, Financials Lift Tokyo Stocks
Author: 123jump.com Staff
123jump.com
Last Update: 1:44 PM EDT May 02 2008


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Stocks in Japan rose sharply after the yen fell to a 2-year low. Investors returned to stocks on he falling commodities and crude oil futures prices and rising optimism related to credit market. In Tokyo trading Nikkei 225 rose 2.05% or 282.4 to 14,049.26, rising 1.3% for the week, and the broader Topix Index increased 2.3% or 31.29 to 1,377.39.

 
If a company registered in Japan at anytime expects net income to change by more than 30% - either up or down - from previously announced forecasts it must notify the Tokyo Stock Exchange.

In the previous week, NTT DoCoMo reported fiscal 2008 annual revenue declined 1.6% to 4.7 trillion yen and net income rose 7.4% to 491 billion yen. The company guided for the current year ending in March 2009 revenue to rise 1.2% to 4.77 trillion yen and net income to increase 2.4% to 503 billion yen. The mobile telecom expects the number of subscribers to increase at the end of March 2009 to 31 million from 22 million at the end of March 2008 as the company offered new discount rate plans.
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