(Adds details, fresh earnings)
By Elaine Lies
TOKYO, Jan 31 (Reuters) - Japanese stocks rose almost 2
percent on Thursday, buoyed by short-covering in Toyota Motor Co
(7203.T: Quote, Profile, Research) and other blue-chip exporters, while banks erased nearly
all their early losses as subprime fears eased slightly.
Investors sought out companies posting good earnings results
regardless of sector, with Terumo Corp (4543.T: Quote, Profile, Research), Yahoo Japan Corp
(4689.T: Quote, Profile, Research) and systems integrator NTT Data Corp (9613.T: Quote, Profile, Research) all
surging on positive results and ratings upgrades.
But despite gains made on the final trading day of the month,
the benchmark Nikkei was still down 11.2 percent for January.
Among a slew of earnings that came out after the close, Sony
Corp (6758.T: Quote, Profile, Research) posted a 6 percent rise in quarterly operating
profit thanks to strong digital camera sales, but it cut its
annual outlook.
