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2801 - Kikkoman News Story

¥5810 -30.0  -0.5%

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Sector
Consumer Defensives
Size
Large Cap
Market Cap £8.33bn
Enterprise Value £8.42bn
Revenue £3.43bn
Position in Universe 112th / 3864

Nikkei ends at one-week high on Wall Street rally, weaker yen

Tue 4th August, 2020 8:09am
TOKYO, Aug 4 (Reuters) - Japanese shares ended higher on
Tuesday as investor sentiment was lifted by a tech-led overnight
rally on Wall Street, and a softer yen propped up exporters. 
    The benchmark Nikkei average  .N225  gained 1.7% to
22,573.66, its highest close since July 28, while the broader
Topix  .TOPX  jumped 2.14% to 1,555.26. 
    All 33 sector sub-indexes on the Tokyo exchange finished
trading in positive territory, led by highly cyclical airlines
 .IAIRL.T , land transport  .IRAIL.T  and shippers  .ISHIP.T .
    Overnight, Wall Street rallied as strong U.S. manufacturing
data and gains in tech-related stocks boosted risk appetite,
with the Nasdaq settling at a record closing high.
    An industry gauge released on Monday indicated U.S.
manufacturing activity expanded in July at the fastest pace in
more than a year.  urn:newsml:reuters.com:*:nL1N2F50TL
    Shares of export-oriented automobile makers got a boost from
a weaker yen, which edged further away from a 4-1/2-month high
hit last week against the dollar.
    Mazda Motor  7261.T  surged 10.59%, while Mitsubishi Motor
 7211.T  and Nissan Motor Co  7201.T  rallied 7.18% and 6.61%,
respectively.
    Individual stocks with better-than-expected earnings results
also provided a tailwind, prompting investors to lean towards
risk-on mood, said Shuji Hosoi, senior market strategist
at Daiwa Securities in Tokyo.
    Suzuki Motor  7269.T  rose 7.67% on better-than-expected
earnings.
    While the automaker posted a 1.3 billion yen operating
profit, its worst quarterly performance on record, it was still
better than a consensus forecast for a loss of 38 billion yen
drawn from six analysts polled by Refinitiv.  urn:newsml:reuters.com:*:nL4N2F51LH
    Food company Kikkoman Corp  2801.T  jumped 14.11% to its
daily limit on stay-at-home demand hopes, despite a 12.8%
decline in April-June net profit.
    Nikkei heavyweight SoftBank Group  9984.T  fell 0.74% after
Reuters reported, citing a person with knowledge of the matter,
that the tech conglomerate under-reported income by around 40
billion yen.  urn:newsml:reuters.com:*:nL4N2F607J 
    Elsewhere, Sony Corp  6758.T  added 4.47% ahead of earnings
later in the day.

 (Reporting by Eimi Yamamitsu; Editing by Subhranshu Sahu and
Aditya Soni)
 ((eimi.yamamitsu@thomsonreuters.com;))
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