Sapporo Holdings Reports 35.6% Group Net Profit Fall
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By Kyodo News International, Tokyo  Feb. 16--TOKYO -- Sapporo Holdings Ltd.
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Japanese electronics group Toshiba Corp  posted a worse-than-expected 25 percent drop in quarterly operating profit after tumbling flash memory chip prices ate into margins.
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Mizuho, one of Japan&#39;s four biggest banking groups, reported Monday that group net profit for the first fiscal half fell 8.4 percent from the previous year, despite some progress in getting rid of bad debts.
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TOKYO -- Honda Motor Co., Japan&#39;s third-largest automaker, said Wednesday its profit fell 7.5 percent in its second fiscal quarter, adding that the strong yen hurt earnings even though revenue rose.
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Tokyo's Nikkei fell nearly 1 percent to a  one-month low by Thursday afternoon as stocks like NEC Corp.  dropped after disappointing earnings from U.S. companies fanned  concern over profit trends and sent Wall Street lower.
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Toyota Motor Corp., the world&#39;s second- largest carmaker, had an unexpected drop in quarterly profit as earnings at its truck making unit fell and a stronger yen cut the value of its overseas sales.
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U.S. Steel Corp  posted a 35 percent decline in third-quarter profit on Tuesday, worse than Wall Street had expected, and forecast weak fourth-quarter earnings, sending the steelmaker's shares down 6 percent.
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Nissan Motor Co. , Japan's third-largest automaker, posted a 3.2 percent drop in quarterly operating profit as a worsening product mix favoring smaller, cheaper cars hit margins, and kept its full-year forecasts unchanged despite the weaker yen.
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Mitsubishi Tokyo Financial Group Inc. announced Wednesday its group net profit fell 43.1 percent in the fiscal first half from a year earlier to 171.7 billion yen, while merger partner UFJ
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Japanese stocks fell Friday, breaking a six-session rally, as investors took profits after the market reached a seven-year high the previous day.
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The Nikkei share average closed down 0.38  percent on Wednesday as exporters such as Honda Motor Co. met  profit-taking, and real estate firms and others dependent on  domestic demand sank after weaker than expected growth data.
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Tokyo's Nikkei fell 1 percent on Thursday  as stocks like NEC Corp. dropped after disappointing earnings  from U.S. firms fanned concern about profit trends and sent  Wall Street lower.
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By Kyodo News International, Tokyo  Feb. 16--TOKYO -- Struggling supermarket store chain Seiyu Ltd. on Friday  reported a group net loss of 55.79 billion yen for 2006, far more than 17.7  billion yen for the previous year and the fifth consecutive annual group net  loss.
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Struggling apparel giant Gap Inc. said on Thursday that fourth-quarter net profit fell 35 percent on lower or flat sales at its two main casual clothing chains and dependence on holiday season discounts.
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Shares of Nissan, which posted disappointing results and forecast poor results for the full year on Friday, fell 8 percent after several brokers lowered their ratings on the companyâs stock. Nissan posted a 23 percent decline in quarterly profit and cut its profit forecast to 460 billion yen ($3.8 billion) from 523 billion yen for the fiscal year ending March 31. The report raised concerns about the companyâs near-term growth prospects and UBS Securities, Credit Suisse Securities and Mitsubishi UFJ Securities lowered their ratings on the company. Nissan, based in Tokyo, had been recovering under its chief executive, Carlos Ghosn, until it faltered last year.
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Nissan Motor Co.  reported a worse-than-expected 23 percent slide in quarterly net profit blaming a sluggish recovery in U.S. sales, and slashed its full-year forecasts to call for the first earnings drop under turnaround king Carlos Ghosn.
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TOKYO: Japan&#39;s Nikkei average fell 0.42 per cent at the opening on Tuesday as profit-taking hit bank shares such as Mizuho Financial Group following a halt in a New York rally.