Japanese Stocks Climb on Record Weak Yen

. April 13 (Bloomberg) -- Japanese stocks advanced after the yen fell to a record low against the euro, boosting the value of overseas sales for companies such as Canon Inc.
Mitsubishi Corp. paced gains by trading companies after the price of crude oil jumped.
``The yen fell to the cheapest ever against the euro and that should have a positive impact on company earnings,'' said Soichiro Monji, who helps oversee about $47 billion at Daiwa SB Investments Ltd. in Tokyo. ``The rising price of oil will spark some interest in trading companies and oil producers.''
The Nikkei 225 Stock Average climbed 105.56, or 0.6 percent, to 17,645.98 as of 9:10 a.m. in Tokyo. The broader Topix index rose 5.18, or 0.3 percent, to 1731.36.
Nikkei futures expiring in June added 0.7 percent to 17,650 in Osaka and gained 0.7 percent to 17,655 in Singapore.
Property developers climbed after the Nikkei newspaper said Morgan Stanley will buy 13 hotels in Japan from All Nippon Airways Co. for about 280 billion yen ($2.35 billion), boosting confidence that real estate prices will rise.
Sony Corp. surged after the Nikkei said the company's group operating profit, or sales minus the cost of goods sold and administrative expenses, will increase six times for this fiscal year from the year just ended.
Retailers slipped after Seven & I Holdings Co. profit missed the company's forecast and Fast Retailing Co. lowered its net income forecast for this year.
The settlement price for Japan's Nikkei 225 options contracts for April delivery will be determined today. The settlement price, also known as the ``special quotation,'' of Nikkei 225 options is calculated after all stocks in the index begin trading.