Nikkei rises for 13th day helped by better shareholder returns

lunes 1 de junio de 2015 21:46 GYT

* Amount of share buyback by firms rose for 3rd year in
April-May - Nomura
    * NTT Docomo soars to over 10-year high on report for higher
    * Japan Tobacco falls after Canadian court orders to pay C$2

    By Ayai Tomisawa
    TOKYO, June 2 (Reuters) - Japan's Nikkei share average rose
for a 13th day on Tuesday as expectations for better shareholder
returns continued to support the market, while the weak yen
lifted exporters such as Toyota Motor Corp.
    The Nikkei 225 gained 0.2 percent to 20,596.65
points by mid-morning trade, continuing to hover near 15-year
    If the index ends higher, it will post 13 consecutive days
of gains, the longest winning streak since February 1988. The
Nikkei has gained 5.1 percent in the past 12 days.
    Further buying of exchange traded funds by the Bank of Japan
also supported the market. The central bank bought 36.1 billion
yen worth of ETFs on Monday.
    Investors said that while they expect imminent profit-taking
given the recent rises, the Japanese market will likely stay
resilient in June.
    "Japanese companies are highly regarded, especially their
investor-friendly attitudes," said Jun Yunoki, a strategist at
Nomura Securities.
    According to the brokerage, a total of 168 companies
announced share buyback plans in April and May, and the total
amount was 1.468 trillion yen, which rose for the third straight
    Yunoki added that the market will stay focused on corporate
governance issues in June when companies have shareholder
    NTT Docomo Inc gained 4.4 percent to a more than 10
year high after the Nikkei reported that the company plans a
double-digit return on equity by fiscal 2017. 
    Exporters gained ground after the dollar moves closer to
125.00 yen, fresh highs in over 12 years. 
    Toyota added 0.7 percent, Fuji Heavy Industries 
soared 1.6 percent and Nissan Motor Co gained 1.5
    Bucking the strength, Japan Tobacco Inc dropped 2.0
percent after a Canadian court ordered the company to pay C$2
billion in damages to smokers.  
    The broader Topix was flat at 1,678.92 and the
JPX-Nikkei Index 400 was flat at 15,155.76.

 (Editing by Kim Coghill)