Tokyo stocks fall on Fed chief's pessimism (3)

18:49, July 22, 2010      

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Another notable advancer on today's market was Mitsui &Co. who added 2.3 percent to 1,113 yen. The president of the U.S. subsidiary of the trading company wrote in a statement to the U.S. Senate that BP Plc. is responsible for the oil spill in the Gulf of Mexico, including compensation for the damages caused by the accident, according to reports from Kyodo News. Mitsui Oil Exploration Co. has a 10 percent stake in the Macondo well, where the accident occurred.

However Tobu Store Co. tumbled 5.2 percent to 253 yen, the sharpest slide since October 2008. The supermarket operator slashed its first-half net income forecast 64 percent to 145 million yen (1.67 million U.S. dollars) because of declining sales and was one of the steepest decliners on Thursday.

It was also a dark day for Toyo Corp. who sank 3.1 percent to 913 yen. The measuring instruments trader said operating profit for the nine months ended June 30 declined 26 percent to 782 million yen (9.04 million U.S. dollars) with a drop in sales.

Some 2.65 billion shares changed hands on the Tokyo exchange's First section, up from Wednesday's volume of 2.02 billion, with declining issues outnumbering advancing ones by 1,007 to 515.Source: Xinhua
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