Tokyo's Nikkei share average rose for a third session to end 1.06 percent higher on Friday, bolstered by gains in top trading firms including Mitsubishi Corp, which unveiled solid results and outlooks. However, after an initial rise, prices generally kept to a narrow range as investors waited for US jobs data later on Friday for clues about the outlook for the US economy and monetary policy.
The Nikkei advanced 115.50 points to 11,061.77, its highest close since October 19. The broader TOPIX index rose 0.93 percent to 1,112.13, its highest close since October 13. The Nikkei gained 2.7 percent on the week, rising for the first time in four weeks.
Mitsubishi Corp, Japan's biggest trading firm, rose 2.71 percent to 1,250 yen after the company rang up a record first-half net profit, some 48 percent higher than a year earlier due to soaring energy and metal prices. It raised its full-year earnings forecast.
Third-ranked trading company Itochu Corp gained 3.63 percent to 485 yen.
Takeda Pharmaceutical Co Ltd, Japan's biggest drug maker, rose 0.57 percent to 5,280 yen after the company posted a 16 percent rise in first-half profit, with higher sales of its top diabetes and hypertension drugs offsetting price cuts.
Aeon Co, Asia's biggest retailer, was up 2.66 percent at 1,773 yen as worries over the impact of higher energy costs on consumer spending waned.
Rival Seiyu Ltd soared 9.4 percent to 256 yen after business daily Nihon Keizai reported that Seiyu would raise capital through a third-party share allocation to its parent Wal-Mart Stores Inc and other investors this year.
Investors had sold auto makers among others prior to the US presidential election due to fears that a change in US currency and trade policies could hurt Japan's top exporters, but the re-election of President George W. Bush and a fall in crude oil prices have prompted some investors to buy back shares.
"The market is up as the post-election mood continues, but I don't feel the intention of investors to push it even higher," said Toshiro Iida, manager of equities trading at Mizuho Securities.
"The market is now returning to the basics and looking for economic fundamentals in the US, bracing for the monthly jobs report due later today," Iida said.
US stocks extended gains on Thursday, pushing the broad Standard & Poor's 500 Index to its highest close for more than two years, helped by a fall in crude oil below $49 a barrel for the first time in over a month.
Energy and resource companies fell following that drop in oil prices, with oil and natural gas producer Teikoku Oil Co losing 2.18 percent to 584 yen.
Advancers outnumbered decliners 1,159 to 337. Trade was moderately active with 1.304 billion shares changing hands, although the volume was down from Thursday's 1.462 billion.
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