Tokyo markets up on earnings reports

The Tokyo equities markets were slightly higher on Thursday as a result of positive corporate earnings reports during the week. The Nikkei added 0.3 percent to 17,114.54 and the Topix index gained 0.4 percent to 1,729.37. Both domestic and export-dependent sectors saw advances on the day.

Automobile manufacturer Honda, reported record net profits for the fifth year in a row due to rising sales in the United States as well as on a weaker yen and a gain related to pensions. Shares were up 5.3 percent on the day to A?8,180 as the company said it would do a two-for-one share split on July 1 in order to increase liquidity.

In the securities sector, Daiwa Securities reported on Wednesday that its quarterly profits had tripled, sending shares up 3.1 percent to A?1,577. Meanwhile, internet brokerage Monex Beans added 4.3 percent to A?146,000 on a quarterly report which showed that profits had doubled in the quarter.

Consumer electronics manufacturer Sharp was up 1.5 percent to A?2,045 on higher quarterly profits due to higher sales in LCD televisions and cellphones.

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