Japan: Best and Worst Performing ADRs Last Week and YTD

Japanese ADRs trading on the NYSE/NASDAQ were negatively impacted by further weakening of the yen against the dollar, in spite of the Nikkei retesting 18,000.

The BoJ's decision to hold at 0.5% bodes well for exporters, but keeps financial plays unattractive in the near-term.

In early trading Monday in Tokyo, the Nikkei was up nearly 1% to 18,130+, as the yen continues to trade around 123.50 against the US$.

On average, the 27 Japanese ADRs gained a combined 0.3% last week. They are up a combined average 1.9% for the year.

Average weekly Japanese ADR returns over the past two months:

06/01 - 06/08: -0.5%
05/25 - 06/01: +2.6%
05/18 - 05/25: +1.1%
05/11 - 05/18: -2.6%
05/04 - 05/11: +0.4%
04/27 - 05/04: +0.6%
04/20 - 04/27: -1.8%
04/13 - 04/20: +1.5%

The five best performing ADRs last week:

1. Makita (MKTAY) 7.5%
2. Honda (HMC) 2.6%
3. FUJIFILM (FUJI) 2.4%
4. Mitsui & Co. (MITSY) 2.0%
5. NEC (NIPNY) 1.8%

The five worst performing ADRs:

1. Millea Hldgs (MLEA) -4.2%
2. ORIX (IX) -3.1%
3. TDK (TDK) -2.9%
4. Nomura Hldgs (NMR) -1.9%
5. NIS Group (NIS) -1.6%

See the chart below for weekly and year-to-date returns.

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

Click to enlarge chart