Daihatsu Motor Co., Japan's largest minicar maker, rose on the Tokyo Stock Exchange after Mizuho Securities Co. upgraded its rating on the company to ``strong buy'' yesterday.
Daihatsu shares gained as much as 40 yen, or 3.3 percent, to 1,245 yen and traded at 1,223 yen as of 9:37 a.m. Osaka-based Daihatsu said yesterday first-half net income rose 13 percent to 12.6 billion yen ($110 million).
Profit increased on higher sales of Myvi compact cars in Malaysia and Xenia vans in Indonesia. A weaker yen in the first half compared with the year-earlier period helped boost the repatriated value of overseas sales.
The benchmark Nikkei 225 Stock Average lost 2 percent. ( Bloomberg )