Nov. 19 (Bloomberg) -- Japanese stock indexes rose for the third straight week after reports indicated the U.S. recovery is accelerating, boosting the outlook for the global economy. Toyota Motor Corp., the world’s largest carmaker, climbed 1.6 percent. T&D Holdings Inc., a life insurer, gained 3 percent after the company reported profits that exceeded its forecast. Nomura Holdings Inc., Japan’s largest brokerage, increased 1.6 percent on better earnings prospects. Elpida Memory Inc., the world’s third-largest maker of computer-memory chips, jumped 5.7 percent after Daiwa Securities Group Inc. recommended the stock. The Nikkei 225 Stock Average rose 0.1 percent to 10,022.39 in Tokyo, the highest close since June 22. The broader Topix index gained 0.1 percent to 869.52, a level not seen since July 14. About eight stocks retreated for every seven that climbed. For the week, the Nikkei has increased 3.1 percent, while the Topix is up 2.7 percent. “Pessimistic views of the U.S. economy and the yen’s appreciation have receded,” said Naoteru Teraoka, general manager at Tokyo-based Chuo Mitsui Asset Management Co., which oversees $26 billion. “Japanese stocks had declined significantly, compared with other markets, because of the yen, so they are recouping the declines.” Futures on the Standard & Poor’s 500 Index were little changed. The index increased 1.5 percent to 1,196.69 yesterday as speculation grew that Ireland will accept a bailout to rescue indebted banks, and reports on U.S. manufacturing and jobless claims bolstered optimism about the economy. The Topix has declined 4.2 percent in 2010, compared with gains of 7.3 percent by the S&P 500 and 6.8 percent by the Stoxx Europe 600 Index. Stocks in the Japanese benchmark are valued at an average 15.3 times estimated earnings, compared with 14.1 times for the S&P 500 and 12.2 times for the Stoxx 600. --With assistance from Satoshi Kawano in Tokyo. Editors: Sam Waite, Nicolas Johnson. To contact the reporters for this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net; Satoshi Kawano in Tokyo at skawano1@bloomberg.net. To contact the editor responsible for this story: Nicolas Johnson at nicojohnson@bloomberg.net.

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