Nikkei 225 Heads for Biggest Rise in Week on BOJ, Toyota
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Japanese shares rose, with the Nikkei 225 Stock Average closing at the highest since September 2008, as Toyota Motor Corp. raised its profit forecast and the yen fell after Bank of Japan Governor Masaaki Shirakawa said he will step down ahead of schedule.
Toyota rose 6.1 percent. Mizuho Financial Group Inc. jumped 5.2 percent to pace gains among banks on speculation Shirakawa’s replacement will take further steps to end deflation. Kawasaki Kisen Kaisha Ltd. led shippers higher as the currency’s weakness boosted prospects for exports. Toyo Seikan Kaisha Ltd. soared 17 percent after raising its profit forecast.