June 5 (Bloomberg) -- Japanese stocks rose, with the Nikkei 225 Stock Average closing above 18,000 for the first time since February. Automakers such as Toyota Motor Corp. led gains as concern eased a slowdown in the U.S. economy will drag on the companies' profit growth.
Energy producers advanced after the price of crude oil climbed above $66 a barrel in New York.
Denso Corp., an auto-parts maker affiliate of Toyota, jumped 2.3 percent. AOC Holdings Inc., Japan's second-largest oil explorer by sales, surged 7.4 percent.
``The U.S. economy has shown signs of recovery and automakers rose, reflecting people's easing worries over the companies' earnings,'' said Naoki Fujiwara, who oversees $720 million at Shinkin Asset Management Co. in Tokyo. ``Rising oil prices provided a good support for commodity-related shares.''
Fast Retailing Co. dropped, leading losses by retailers, after saying its same-store sales declined last month.
The Nikkei gained 80.39, or 0.5 percent, to 18,053.81, the highest since Feb. 27. The broader Topix index added 3.72, or 0.2 percent, to 1776.56.
Toyota, the world's largest automaker by market value, rose 70 yen, or 0.9 percent, to 7,620. Denso, 23 percent owned by Toyota, advanced 100 yen, or 2.3 percent, to 4,490.
NOK Corp., a maker of rubber products for automobiles, surged 225 yen, or 9.2 percent, to 2,680 after Mizuho Securities Co. raised its rating on the stock to ``strong buy'' from ``hold.'' Mizuho also lifted Denso's shares to ``buy'' from `hold.''
U.S. Economy Recovering?
U.S. companies hired last month at almost twice the pace in April and manufacturing unexpectedly accelerated in May as orders picked up, reports showed last week. Toyota said on June 1 its U.S. sales jumped 14 percent from a year earlier last month, helping Asian companies boost their market share after faltering in April.
``Leading indicators including manufacturing data strengthened the view that the U.S. economy is about to bottom out,'' said Masanori Ikunaga, who helps manage $4.1 billion at Sumitomo Mitsui Asset Management Co. in Tokyo. ``Automakers and technology companies will benefit from recovering overseas markets and a cheaper yen against the euro.''
The euro strengthened to a record versus the yen, climbing to 164.52 yen as of 3:10 p.m. in Tokyo. A stronger European currency boosts the value of exporters' euro-denominated sales and makes their products more competitive.
Measures tracking petroleum explorers and oil refiners jumped 4.1 percent and 3.1 percent respectively, the two best performers among the 33 industry groups included in the Topix.
Energy Prices Rise
AOC, Japan's second-biggest oil explorer by sales, surged 123 yen, or 7.4 percent, to 1,781. Inpex Holdings Inc., the nation's largest, climbed 50,000 yen, or 4.6 percent, to 1.15 million, the highest close since April 21, 2006.
Nippon Mining Holdings Inc., which made almost 80 percent of its total sales by refining oil, advanced 27 yen, or 2.4 percent, to 1,141. Nippon Mining also rose after Goldman, Sachs & Co. lifted its 12 month share-price projection to 1,280 yen, from 1,080 yen.
Crude oil for July delivery rose 1.7 percent to $66.21 a barrel in New York, the highest close since May 21. It recently traded at $66.10.
Nitto Denko, Sony
Fast Retailing, the operator of the Uniqlo chain of casual clothing stores, dropped 400 yen, or 4.3 percent, to 8,900, the biggest fall since April 13. The company said yesterday its same-store sales in May fell 2.1 percent from a year earlier, the first decline in five months.
United Arrows Ltd., with 79 stores nationwide, slid 96 yen, or 4.9 percent, to 1,864. Ryohin Keikaku Co., operator of the Muji clothing and interior goods store, lost 80 yen, or 1.2 percent, to 6,840.
Nitto Denko Corp., the world's largest maker of optical film for liquid-crystal displays, advanced 230 yen, or 3.7 percent, to 6,430. The company said yesterday after the market closed its monthly sales increased 10 percent from a year earlier, according to Daiki Takayama, an analyst at Goldman in Tokyo.
``Overall, April-June sales of LCD film sales are increasing above the company's plan,'' said Takayama in a note to clients dated today. ``The bottoming out of the company's earnings will become clear'' toward the quarter to September.
Sony Corp. declined 60 yen, or 0.9 percent, to 6,840. Sony's rival Nintendo Co. widened its lead in Japan last month after its Wii consoles and DS portable players outsold products from Sony, Tokyo-based research firm Enterbrain Inc. said. Sony said yesterday it will cut the price for a Blu-ray DVD-player model by 17 percent to help spur sales.
Nikkei futures expiring in June added 0.2 percent to 18,050 in Osaka and gained 0.4 percent to 18,075 in Singapore.
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