Around the World's Markets: Tokyo

JAPANESE STOCKS closed modestly higher, with sentiment boosted by a series of high-profile corporate restructures. The Nikkei average ended up 115 points, or 0.8 per cent, at 14,470.45.

Haseko Corp, a construction company, was among the heaviest-traded stocks, ending 18 per cent higher after announcing details of a restructuring. Sakura Bank finished up 4 per cent after it said it would cut its workforce by 4,200. "The market is increasingly evaluating positively issues involved in mergers and restructuring," said one analyst.