Japan: Best and Worst Performing ADRs Last Week and YTD

Japanese ADRs trading on the NYSE/NASDAQ were further negatively impacted by the weak yen, despite the Nikkei 225 reaching a seven-year high last week and holding 18,000.

Financial stocks came under selling pressure as expected. Millea Holdings (MLEA) in particular fell on profit-taking.

Mega-banks Mitsubishi UFJ FG (MTU) and Mizuho FG (MFG) both lost more than 5% for the week.

The Nikkei lost 0.6% in Monday trading, while the broader TOPIX fell 0.7%. Both Mitsubishi UFJ and Mizuho FG traded to the downside, -1.5% and -1.0%, respectively.

On average, the 27 Japanese ADRs lost a combined 2.2% last week and are now down a combined average 0.2% for the year.

Average weekly Japanese ADR returns over the past two months:

06/08 - 06/15: +0.3%
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%

The five best performing ADRs last week:

1. Advantest (ATE) 1.4%
2. TDK (TDK) 1.1%
3. Mitsui & Co. (MITSY) 0.9%
4. Wacoal (WACLY) 0.1%
5. Canon (CAJ) -0.2%

The five worst performing ADRs:

1. Millea Hldgs (MLEA) -9.9%
2. Matsushita (MC) -5.7%
3. Mitsubishi UFJ (MTU) -5.6%
4. Mizuho FG (MFG) -5.3%
5. Kubota (KUB) -5.0%

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

Click to enlarge chart

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