Japan: Best and Worst Performing ADRs Last Week and YTD

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 |  Includes: ATE, HTHIY, KUBTY, MC-OLD, NSANY, TMICY
by: Steven Towns

The Nikkei extended its rally to five days last Monday, but Japanese stocks struggled the rest of the week. ADRs were no exception, as two-thirds of the 28 listed on the NYSE or trading on the Nasdaq finished the week lower.

Japanese ADRs lost a combined average 1.6% last week, which was also the end of the fourth quarter and fiscal year. Two weeks ago, all 28 ADRs were positive for the week.

The quarter end, the recent five day rally and the fact stocks went ex-dividend during the week all resulted in broader weakness. The only real buying was perhaps window dressing by funds.

Here's the 28 ADRs' combined average return over the past several weeks:

    03/16 - 03/23: +3.5%
    03/09 - 03/16: -1.9%
    03/02 - 03/09: +0.6%
    02/23 - 03/02: -3.8%
    02/16 - 02/23: +0.5%
    02/09 - 02/16: +4.2%

See the chart near the bottom for weekly, monthly and year-to-date returns.

The five best performing ADRs last week:

    1. Trend Micro (TMIC) 5.7%
    2. Hitachi (HIT) 4.0%
    3. Millea Holdings (MLEA) 2.9%
    4. Konami (NYSE:KNM) 2.3%
        NIS Group (NIS) 2.3%
        Mitsui & Co (OTCPK:MITSY) 2.3%

The five worst performing ADRs:

    1. Kubota (KUB) -7.9%
    2. Advantest (NYSE:ATE) -5.7%
    3. Nissan (OTCPK:NSANY) -5.5%
    4. Matsushita (MC-OLD) -5.1%
    5. Sony (NYSE:SNE) -4.9%

Disclosure: The author owns shares of NIS Group and IIJ and also owns IIJ call options.

Japanese-ADRs-returns-04-01-07