Japan Stocks Rise After Yellen Speech as Investors Eye Dividends

Japanese stocks rose after Federal Reserve Chair Janet Yellen said the U.S. central bank was on track to raise interest rates in 2015 and investors picked up shares ahead of a deadline to receive the next dividend payment.

MS&AD Insurance Group Holdings Inc., which goes ex-dividend on Monday, rose 4.1 percent. Kansai Electric Power Co. surged 9.6 percent after Nomura Holdings Inc. lifted its rating on the utility. Japan Tobacco Inc. added 3.9 percent after people familiar with the matter said that the company was in talks to buy cigarette assets from Reynolds America Inc. Sharp Corp. slumped 5.8 percent after the struggling electronics maker said it will miss its operating profit forecast for the first half.