February 1, 2018 / 6:44 AM / 6 months ago

Nikkei rises for first time in 7 days, helped by softer yen, upbeat earnings

TOKYO, Feb 1 (Reuters) - Japan's Nikkei share average rose on Thursday, rebounding from a six-day losing streak and pushing most sectors into positive territory, as a weaker yen and upbeat corporate earnings drove the benchmark index higher.

The Nikkei rose 1.7 percent to 23,486.11 after declining for six straight sessions.

Fujifilm Holdings jumped 12 percent after the company said it will take over Xerox Corp in a $6.1 billion deal, combining the U.S. company into an existing joint venture to gain scale and cut costs in the face of declining demand for office printing.

Sumitomo Mitsui Financial Group, Japan's second-largest bank by market valuation, and Mizuho Financial Group, the third-largest lender, jumped 4.4 percent and 2.2 percent respectively after they both reported hefty gains in their stock portfolios.

Hino Motors soared 8.0 percent after the truckmaker raised its full-year net profit outlook.

On the other hand, Fujitsu Ltd dived 13 percent after its operating profit dropped 29.3 percent for the April-December period.

The broader Topix gained 1.8 percent to 1,870.44, with 32 of its 33 subsectors rising.

Reporting by Ayai Tomisawa; Editng by Eric Meijer

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