The Ministry of Health, Labor and Welfare said that in its provisional report of Monthly Labor Survey that total wages earnings per regular employee in September fell 0.5% to 271,144 yen. Contractual cash earnings also slumped 0.3% to 269,010 yen and scheduled cash earnings declined 0.4% to 249,607 yen.

Monthly hours worked per regular employee also fell in September by 2.3% from a year earlier to 149 hours, while non-scheduled hours worked in manufacturing were 16.5%, a 1.7% plunge. However, regular employees were increased to 44.5 million in September, an increase of 1.6% compared to a year ago. Full-time employees jumped to 32.9 million, 0.8% increase compared to a year ago and part-time employees increased to 11.5 million, an increase of 3.6%.

Of the Nikkei 225 index shares Sapporo Holdings led advancers, rising 13.07%, followed by rises of 9.22% in Mitsubishi Motors Company, 8.21% in Fuji Electric House, 7.89% in Denso Corp and 7.21% in Fuji Film Holdings.

Sapporo Holdings firmed after announcing yesterday it would ally with Morgan Stanley Japan Securities Company to venture into real estate operations. A special purpose company operated by Morgan Stanley real estate fund would buy a 1.5% stake in the holding company by the end of December and boost it by 5% by the end of June 2008.

The special purpose company will also acquire a 15% stake in Yebisu Garden Place Company for 50 billion yen and help improve the value of the major office, residential and shopping complex in Tokyo. Separately, Sapporo Holdings said it will form a business alliance with Tokyo-based investment fund management firm Crescent Asia to bolster subsidiary Sapporo Beverage Co. According to the company, the tie-ups are expected to increase consolidated operating profit of 40 billion yen in 2016 and sales to 600 billion yen from 435 billion yen.

Denso Corp, Japan’s biggest auto parts maker, rose after announcing it expects net income to soar to 228 billion yen, 10% more than analyst projections as a result of rising demand in overseas markets. Carmakers rose as well. Toyota Motor Corporation rose 2.50%, Honda Motor Corp edged up 2.38% and Nissan Motor Corp climbed 2.79%.

Mitsubishi Rayon Company Limited led the decliners in the index with a loss of 13.35%, followed by losses in Taiyo Yuden Company of 7.48%, in Matsushita Electric Works of 6.82%, in Toto Limited of 5.57% and in Sumco Corporation of 5.02%.

Commodity and energy stocks fell on retreating prices of crude oil and metals. Oil prices slumped 3.4% to $90.38 per barrel after Goldman, Sachs recommended investors to sell energy contracts, forcing Inpex Holdings to slide 3.88%, Nippon Oil to decline 2.69% and Mitsubishi Corp to plummet 4.05%.

Mitsubishi Heavy Industries said in a statement today first half net income climbed 27.99 billion yen from 21.9 billion yen a year ago. Sales in the six months period ended September also rose 6.9% to 1.45 trillion yen spurred by the increased demand for wind and gas turbines, especially in the U.S. as a result of stricter environmental rules on carbon dioxide emissions. The company closed 2% up.

Fujifilm Holdings Corp net income increased 25% to 237 billion yen on higher sales of copiers. Operating profit is forecasted to rise 5% to 210 billion yen this business year. Fujifilm finished 7.21% up at the close of trade.

Matsushita Electric Works second quarter net income rose to 65 billion yen beating the estimates of 60 to 63 billion yen. Matsushita traded up 3.79%.