Nikkei ends four-day losing streak, Bridgestone up

The Nikkei share average rose for the first time in five sessions on Thursday, gaining 0.46 percent as tyre makers surged after Bridgestone Corp lifted its earnings outlook and exporters such as Honda Motor Co Ltd benefited from easing concerns about the outlook for the US market.
Shares of Toyota Motor Corp rose after brokerage Goldman Sachs raised its rating on the automaker. Gains on Wall Street helped reassure investors who had been concerned about subprime mortgages in the United States, a key market for Japanese goods.
But much of the market's focus was on the often overlooked rubber sector after Bridgestone, Japan's largest tyre maker, lifted its net profit forecast by 18 percent due to the benefit of a weaker yen.
"Bridgestone was a real positive surprise," said Ken Masuda, senior equities dealer at Shinko Securities. "Yokohama Rubber and other tyre makers are being bought on hopes of similar earnings upgrades," Masuda said.
The Nikkei rose 82.99 points to 17,932.27, snapping a four-day losing streak. The broader TOPIX index added 0.58 percent to 1,751.12. Bridgestone gained 3 percent to 2,615 yen.
Yokohama Rubber Co Ltd Japan's third-largest tyre maker, climbed 7.1 percent to 917 yen. Second-ranked Sumitomo Rubber Industries Ltd gained 5.4 percent to 1,430 yen.
Toyo Tire & Rubber Co Ltd rose 6.2 percent to 638 yen. In addition, Goldman Sachs on Wednesday raised its price targets on all four companies.
Bull-Dog Sauce may be a focus for the market on Friday. The manufacturer of food sauces has won a court case allowing it to erect anti-take-over defences aimed at thwarting a $260 million bid by US hedge fund Steel Partners, according to a source familiar with the situation.
Honda and other exporters gained. The automaker, which makes some 80 percent of its sales outside of Japan, rose 2.1 percent to 4,420 yen. Toyota gained 0.9 percent to 7,620 yen. Goldman Sachs raised its rating on the world's largest automaker to "buy" from "neutral," citing expectations of profit growth due to the weaker yen.
As the market remains somewhat jittery about the outlook, investors can find investment opportunities, said Junichi Misawa, senior fund manager a31 as many of its major titles are set for release in the second half of the business year.
Trade activity was the lowest in a month, with 1.61 billion shares changing hands on the Tokyo exchange's first section. Advancing shares beat decliners by a ratio of more than six to one.