TOKYO: Tokyo stocks opened 0.52 percent higher on Friday despite a slump in Sony shares, which tumbled after the electro
TOKYO: Tokyo stocks opened 0.52 percent higher on Friday despite a slump in Sony shares, which tumbled after the electronics firm cut its full-year outlook.
The Nikkei 225 index gained 75.13 points to 14,403.07 at the start.
Once world-beating Sony on Thursday booked a net loss of 15.8 billion yen ($160 million) in April-September and cut its forecast for the whole year to March by 40 percent, blaming dwindling sales of digital cameras, personal computers and televisions.
Sony shares tumbled 8.79 percent to 1,712 yen Friday.
"The dollar and earnings will be the guiding influences on the market today," said SMBC Nikko Securities general manager of equities Hiroichi Nishi.
"Reactions to results and revisions by the likes of Sony and SoftBank will be foremost on investors' minds," Nishi added.
Japan's earnings reporting season hit its peak Thursday, with many major companies releasing results to September and full-year outlooks.
After the market close, SoftBank said its quarterly net profit rose 44 percent on-year. SoftBank soared 3.01 percent to 7,520 yen in early trading.
The dollar was at 98.35 yen early Friday compared with 98.37 yen in New York Thursday afternoon.
The euro slumped Thursday after discouraging eurozone inflation data raised concerns about looming deflation in the single-currency bloc.
The euro bought $1.3576 and 133.50 yen Friday against $1.3579 and 133.60 yen in US trade.
US stocks fell Thursday following a flood of mixed earnings reports, with the Dow Jones Industrial Average closing down 0.47 percent at 15,545.75.