TOKYO, Jan 28 (Reuters) - The benchmark Nikkei average rose 0.7 percent and the broader Topix gained 0.5 percent on Thursday.
The following stocks were on the move:
**CANON CLIMBS AFTER FORECASTS 1ST ANNUAL GROWTH IN 3 YEARS**
Canon Inc climbed 2.4 percent to 3,700 yen after forecasting its first annual profit growth in three years after more than doubling its profit last quarter, as the camera and office equipment maker shifts gear back into expansion.
0035 GMT
**RAKUTEN UP AFTER ANNOUNCING JV WITH CHINA'S BAIDU**
Rakuten jumped 6.5 percent to 73,300 yen after the online mall operator said it has agreed to set up a joint venture with China's top search engine Baidu to launch a virtual shopping mall targeting the world's largest online population.
Rakuten said it would take a 51 percent stake in the venture, with Baidu to hold the rest. Total investment in the venture would be about 4.3 billion yen ($48.2 million) over three years, it said in a statement.
0033 GMT
**TOKYO ELECTRON UP AFTER SMALLER LOSS FORECAST**
Tokyo Electron jumped 3.9 percent to 5,670 yen after the world's No.2 chip equipment maker, said on Wednesday it is likely to report far smaller full-year losses than previously expected, thanks to a recovery in the semiconductor market.
The company said it now expects to post an operating loss of 14 billion yen ($156.9 million) for the year to March 31, against its previous forecast for a loss of 35 billion yen.
0017 GMT
(For IPO news, data and diary, click, for stocks click)
(Reporting by Taiga Uranaka)
((taiga.uranaka@thomsonreuters.com; +81-3-6441-1813; Reuters Messaging: taiga.uranaka.reuters.com@reuters.net)) Keywords: MARKETS JAPAN STOCKS HOT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The following stocks were on the move:
**CANON CLIMBS AFTER FORECASTS 1ST ANNUAL GROWTH IN 3 YEARS**
Canon Inc climbed 2.4 percent to 3,700 yen after forecasting its first annual profit growth in three years after more than doubling its profit last quarter, as the camera and office equipment maker shifts gear back into expansion.
0035 GMT
**RAKUTEN UP AFTER ANNOUNCING JV WITH CHINA'S BAIDU**
Rakuten jumped 6.5 percent to 73,300 yen after the online mall operator said it has agreed to set up a joint venture with China's top search engine Baidu to launch a virtual shopping mall targeting the world's largest online population.
Rakuten said it would take a 51 percent stake in the venture, with Baidu to hold the rest. Total investment in the venture would be about 4.3 billion yen ($48.2 million) over three years, it said in a statement.
0033 GMT
**TOKYO ELECTRON UP AFTER SMALLER LOSS FORECAST**
Tokyo Electron jumped 3.9 percent to 5,670 yen after the world's No.2 chip equipment maker, said on Wednesday it is likely to report far smaller full-year losses than previously expected, thanks to a recovery in the semiconductor market.
The company said it now expects to post an operating loss of 14 billion yen ($156.9 million) for the year to March 31, against its previous forecast for a loss of 35 billion yen.
0017 GMT
(For IPO news, data and diary, click, for stocks click)
(Reporting by Taiga Uranaka)
((taiga.uranaka@thomsonreuters.com; +81-3-6441-1813; Reuters Messaging: taiga.uranaka.reuters.com@reuters.net)) Keywords: MARKETS JAPAN STOCKS HOT (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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