Japan Shares Advance; Banks Rise on Earnings Expectations, NEC, Sony Jump

(Bloomberg) -- Japanese stocks advanced, led by
banks, after Sumitomo Mitsui Financial Group Inc. forecast
profit will increase for this business year.

Sumitomo Mitsui climbed 4.7 percent after projecting a 22
percent increase in its net income for this business year. NEC
Corp. jumped the most since Oct. 2005, after saying profit will
triple this year.


Read more at Bloomberg Stocks News

UPDATE 1-Sumitomo Mitsui net profit down 36 pct; sees rise

(Reuters) - TOKYO, May 21 - Sumitomo Mitsui Financial Group
in the 12 months through
March, below the 458 billion yen average projection of eight
analysts polled by Reuters Estimates.


Read more at Reuters.com Market News

Sumitomo to buy Westinghouse stake by June: paper

(Reuters) - The Nikkei said Sumitomo made the decision to buy the stake at a board meeting on Thursday. It will sign an agreement next month and purchase the shares by June, the paper said.

Late last year Toshiba took a 77 percent stake in Westinghouse, the U.S. power plant unit of British Nuclear Fuels, for $4.16 billion.


Read more at Reuters.com Business News