Japan Stocks Climb as BOJ, G-7 Begin Intervention on Yen

Japanese stocks climbed, paring their worst weekly performance since 2008, as the yen tumbled after the Bank of Japan and some Group of Seven countries said they began intervening in currency markets while the country battles to control a nuclear accident.

Kyocera Corp., an electronics maker that gets more than half of its sales abroad, advanced 5.2 percent. Daikin Industries Ltd., Japan’s largest maker of air conditioners, soared 8.7 percent. Tokyo Electric Power Co., Asia’s largest utility which is struggling to prevent a meltdown at a nuclear power plant, rose for the first time this week. Mitsubishi UFJ Financial Group Inc., Japan’s largest bank by market value, climbed 3 percent.