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Kyodo economic news summary -4-.

TOKYO, Dec. 9 Kyodo

---------- Japan's core machinery orders up 17.4% in Oct.

TOKYO - The nation's core private-sector machinery orders rose a seasonally adjusted 17.4% in October from September to 1,022.0 billion yen, far exceeding the average market projection of a 5.1% increase, the government said Tuesday.

It was the first time that the machinery orders have topped 1 trillion yen since August 2001, the Cabinet Office said in a preliminary report.

---------- Oct. revenues grow at 3 of 6 main business service industries

TOKYO - Revenues in three of Japan's six major corporate service industries rose in October from a year earlier, the government said Tuesday.

Sales at advertisement-related companies expanded 5.9% to 455.5 billion yen for the second consecutive monthly rise, the Ministry of Economy, Trade and Industry (METI) said in a report.

---------- Denso to establish new Spanish unit for car air conditioners

TOKYO - Denso Corp., an auto parts maker affiliated with Toyota Motor Corp., said Tuesday it will establish a new company in Spain later this month to produce car air conditioners.

The new firm, Denso Sistemas Termicos Espana S.A., will be located in the northwestern city of Vigo as a wholly owned unit of Italian-based Denso Thermal Systems SpA with a start-up capital of 2 billion yen.

---------- Tokyo stocks rise on upbeat machinery orders data

TOKYO - Tokyo stocks closed higher Tuesday after falling in the morning, as gains from buybacks prompted by the release of upbeat machinery orders data more than offset losses from profit-taking due to a sense of caution over a firmer yen against the U.S. dollar.

The 225-issue Nikkei Stock Average advanced 78.94 points, or 0.79%, to close at 10,124.28. The broader Tokyo Stock Price Index (TOPIX) of all First Section issues on the Tokyo Stock Exchange) added 2.11 points, or 0.21%, to 997.39.
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Publication:Japan Weekly Monitor
Date:Dec 15, 2003
Words:314
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