Bloomberg Anywhere Bloomberg Professional About Bloomberg


 
Japan Stocks: Eisai, Mizuho Trust, Taisei, Toyo Tanso

By Norie Kuboyama and Akiko Ikeda

April 14 (Bloomberg) -- Japan’s Nikkei 225 Stock Average fell 81.75, or 0.9 percent, to 8,842.68 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Arcs Co. (9948 JT) added 3.3 percent to 1,324 yen. The operator of supermarkets and discount stores said it expects a 6.6 percent rise in net income to 5.3 billion yen ($53 million) this business year, with a 3.2 percent advance in sales.

Daisyo Corp. (9979 JT) rose 1.6 percent to 1,232 yen. The Japanese-style pub chain said first-half net income rose 30 percent to 464 million yen, buoyed by increased non-operating profit. Operating profit in the six months ended Feb. 28 fell 21 percent to 897 million yen, with a 1.4 percent drop in sales.

Eisai Co. (4523 JT) gained 2.2 percent to 2,980 yen. The drugmaker’s operating profit may rise 6 percent to about 100 billion yen this year on higher drug sales in Japan and the U.S., Nikkei English News said. Sales may gain 3 percent to about 800 billion yen, with revenue from its Alzheimer’s drug Aricept gaining 20 percent in Japan, the report said. Eisai may increase its annual dividend to 150 yen a share from 140 yen a share last year, the report said.

Hogy Medical Co. (3593 JT) rallied 5.7 percent to 5,190 yen. The surgical tool maker said it expects a 45 percent gain in net income to 5.21 billion yen in the fiscal year started April 1, with a 5.1 percent advance in sales. Hogy Medical was lifted to “buy” from “hold” by Hidemaru Yamaguchi, an analyst at Nikko Citigroup Ltd.

JGC Corp. (1963 JT) climbed 5.2 percent to 1,314 yen. The plant engineering company was boosted to “buy” from “neutral” by Kunio Sakaida, a Tokyo-based analyst at Goldman Sachs Group Inc.

Kaneka Corp. (4118 JT) rose 2.4 percent to 549 yen. The synthetic resin maker’s full-year net loss was 1.8 billion yen, narrower than its 3.5 billion yen loss projection, citing lower- than-expected taxes, according to a preliminary earnings statement.

Kohnan Shoji Co. (7516 JT) tumbled 7.5 percent to 920 yen. The home-center chain said it expects a 48 percent decline in net income to 1.7 billion yen as it devalues inventory assets, reflecting a change of accounting methods.

Mizuho Trust & Banking Co. (8404 JT) soared 7 percent to 107 yen. The trust bank and Mizuho Corporate Bank Ltd. (MIZC JP) developed a new system of lending that is backed by inventory and other assets, the Nikkei newspaper said. Mizuho Trust will manage collateral, which may help the corporate arm of the Mizuho Financial Group Inc. (8411 JT) reduce the burden of such management, the report said. Mizuho Financial was unchanged at 196 yen.

NEC Electronics Corp. (6723 JT) slumped 7.1 percent to 886 yen. Japan’s third-biggest chipmaker was lowered to “sell” from “hold” by Yohei Kanazawa, an analyst at Nikko Citigroup Ltd.

Nihon Unisys Ltd. (8056 JT) advanced 5.9 percent to 699 yen. The computer and peripheral-equipment wholesaler will develop and operate charging stations for electric cars, starting with a network of about 1,000 stations in fiscal 2011, the Nikkei newspaper said.

Sankyo-Tateyama Holdings Inc. (3432 JT) rose 5.2 percent to 81 yen. The building materials maker and Nippon Light Metal Co.’s (5701 JT) Shin Nikkei Co. unit have restarted talks to merge their building-sash operations, Nikkei English News said. Nippon Light fell 5.5 percent to 86 yen.

Shimachu Co. (8184 JT) lost 2.5 percent to 1,704 yen. The furniture store chain cut its full-year net income outlook 35 percent to 6.34 billion yen and its sales forecast 12 percent to 134.8 billion yen, citing stagnating consumer spending.

Sumitomo Heavy Industries Ltd. (6302 JT) gained 5.5 percent to 423 yen, the highest since Oct. 14. Japan’s largest maker of plastic injection-molding gear was lifted to “buy” from “neutral” by Kunio Sakaida, a Tokyo-based analyst at Goldman Sachs Group Inc.

Sumitomo Real Estate Sales Co. (8870 JT) plunged 7.3 percent to 3,700 yen. The property brokerage said in a preliminary earnings statement full-year net income totaled 3.5 billion yen, missing its 5.6 billion yen outlook by 38 percent, reflecting the deterioration of the real estate industry amid the credit crunch.

Other property developers also fell. Mitsubishi Estate Co. (8802 JT) dropped 2.2 percent to 1,311 yen. Mitsui Fudosan Co. (8801 JT) lost 2.5 percent to 1,286 yen. Tokyo Tatemono Co. (8804 JT) tumbled 7.8 percent to 377 yen. Tokyu Land Corp. (8815 JT) declined 4 percent to 361 yen.

Sumitomo Realty & Development Co. (8830 JT) slumped 5.6 percent to 1,265 yen. Japan’s third-biggest property developer said in a preliminary earnings statement full-year net income amounted to 44 billion yen, falling short of its 52 billion yen outlook by 15 percent, due to additional charges for writing off stock.

Taisei Corp. (1801 JT) declined 4 percent to 219 yen. The contractor’s full-year net loss was 24.2 billion yen, wider than its 13 billion yen loss outlook, according to a preliminary earnings statement. Taisei also said it will sell 20 billion yen in convertible bonds with warrants to designated investors.

Takasago Thermal Engineering Co. (1969 JT) advanced 4.7 percent to 685 yen. The builder of air-conditioning facilities was lifted to “outperform” from “neutral” by Masahiro Mochizuki, a Tokyo-based analyst at Credit Suisse Group AG.

Toyo Tanso Co. (5310 JT) sank 5.2 percent to 3,500 yen. The maker of carbon and graphite products lowered its full-year net income outlook by 35 percent to 2.4 billion yen and its sales forecast by 7.6 percent to 30.5 billion yen.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net. Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

Last Updated: April 14, 2009 03:11 EDT

Sponsored links