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Kyodo economic news summary -5-.

TOKYO, Nov. 7 Kyodo

---------- Dollar falls to upper 117 yen level on Fukui's comment

TOKYO - The U.S. dollar fell to the upper 117 yen level Tuesday in Tokyo on comments by Bank of Japan Governor Toshihiko Fukui who hinted at an interest rate hike in the near future.

At 5 p.m., the dollar was quoted at 117.79-82 yen against Monday's 5 p.m. quotes of 118.25-35 yen in New York and 118.17-19 yen in Tokyo.

---------- Toyota, Isuzu to form capital, business tie-ups

TOKYO - Toyota Motor Corp. and Isuzu Motors Ltd. reached a basic agreement Tuesday toward capital and business tie-ups, the two automakers said.

Toyota said it plans to acquire a 5.9 percent stake in major truck manufacturer Isuzu on Friday by purchasing 60 million Isuzu shares from Mitsubishi Corp. and 40 million shares from Itochu Corp.

---------- Nikkei rises, upside capped ahead of U.S. midterm elections

TOKYO - Japan's key Nikkei stock index rose Tuesday reflecting a strong performance by U.S. shares overnight but gains were limited ahead of a series of potentially market-moving events at home and abroad.

The 225-issue Nikkei Stock Average gained 28.65 points, or 0.18 percent, to 16,393.41. The Tokyo Stock Price Index of all First Section issues on the Tokyo Stock Exchange was virtually flat, down 0.03 point to 1,616.68.

---------- Toyota's 1st-half group net profit, sales hit all-time highs

TOKYO - Toyota Motor Corp. on Tuesday reported its biggest-ever group net profit and sales for the April-September period, led by a weaker yen and strong demand for its fuel-efficient vehicles in the United States and Europe.

Its group net profit for the first half of fiscal 2006 gained 36.2 percent from a year before to 777.22 billion yen on sales of 11.47 trillion yen, up 15.3 percent. Toyota became Japan's first manufacturer to post sales of more than 10 trillion yen on a half-year basis.

---------- Japan gov't bond, futures prices change little

TOKYO - The prices of the benchmark 10-year Japanese government bond and bond futures changed little Tuesday as selling prompted by Bank of Japan Governor Toshihiko Fukui's comments proved to be short-lived.

In interdealer trading, the yield on the No. 282 1.7 percent issue was unchanged from Monday's close to end the day at 1.755 percent.
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Publication:Japan Weekly Monitor
Date:Nov 13, 2006
Words:391
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