By Akiko Ikeda April 1 (Bloomberg) -- Japanese stocks rose, led by commodity-related shares as prices of oil and metals climbed. Shares extended gains after Dai-ichi Life Insurance Co. surged on its first day of trading. Dai-ichi Life leapt 14 percent from its initial offering price. Mitsubishi Corp., Japan’s largest commodities trader, climbed 1.5 percent after oil and metal prices increased yesterday. Fanuc Ltd., a maker of industrial robots that earns about 20 percent of its revenue in Europe, advanced 2.9 percent as the yen weakened. The Bank of Japan said its Tankan survey showed business confidence among Japan’s largest manufacturers improved for a fourth-straight quarter. The Nikkei 225 rose 1.4 percent to 11,244.4 at the 3 p.m. close in Tokyo, the highest close since October 2008. The broader Topix index gained 0.7 percent to 985.26 with nine stocks advancing for every five that fell. “A rise in commodity prices reflects a recovery in the global economy,” said Yoshinori Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co., which oversees about $95 billion. “The Tankan survey confirmed the economy and business conditions are improving in Japan.” The Topix has gained 8.6 percent in 2010, compared with a 4.9 percent advance for the Standard & Poor’s 500 Index in the U.S. and a 3.8 percent increase for the Stoxx 600 Index in Europe. Stocks in the Topix are valued at 34.7 times estimated earnings on average, compared with 15 times for the S&P 500 and 13.1 times for the Stoxx 600.

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