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Japan Stocks: Citizen, Hitachi, Mazda, Nissan, Nissha Printing

By Norie Kuboyama and Akiko Ikeda

May 13 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 41.88, or 0.5 percent, to 9,340.49 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.

Aiful Corp. (8515 JT) added 5.7 percent to 277 yen. The consumer lender said it expects net income to almost double to 8.12 billion yen ($84.4 million) this fiscal year from 4.25 billion yen a year earlier.

Bookoff Corp. (3313 JT) surged by its daily limit of 14 percent to 841 yen, rising the most since March 2008. The used- book retailer said Dai Nippon Printing Co. (7912 JT) will become its largest shareholder with 7.17 percent voting rights. Maruzen Co. (8236 JT), a book-store operator, will hold 6.62 percent voting rights as its second-biggest holder. Other investors include closely held publishers Kodansha, Shueisha, and Shogakukan. Dai Nippon rose 2.5 percent to 1,058 yen. Maruzen added 5.9 percent to 90 yen.

Casio Computer Co. (6952 JT) slumped 5.7 percent to 784 yen. The maker of Exilim cameras and G-Shock watches posted an annual net loss of 23.1 billion yen, with sales falling by 17 percent, as the global slump in demand forced the company to cut prices of digital cameras. Casio expects a return to profit with 5 billion yen this fiscal year.

Citizen Holdings Co. (7762 JT) soared 9.2 percent to 513 yen. The watchmaker forecast to rebound to net income with 2 billion yen this business year. Citizen posted a 25.8 billion yen loss, with a 12 percent fall in sales, in the year just ended.

Culture Convenience Club Co. (4756 JT) surged by its daily limit of 15 percent to 752 yen. The operator of the Tsutaya video store chain said it expects net income to climb 72 percent to 14 billion yen this fiscal year.

Daikin Industries Ltd. (6367 JT) fell 4.2 percent to 2,885 yen. The air conditioner maker expects net income to fall 45 percent to 12 billion yen this business year, with an 11 percent slip in sales. Daikin said it will spend as much as 1.5 billion yen to buy back up to 0.14 percent of its outstanding shares.

Daicel Chemical Industries Ltd. (4202 JT) increased 3 percent to 479 yen, its highest since Sept. 26. The chemicals maker forecast net income in the year that started April 1 will more than triple to 4.5 billion yen from 1.3 billion yen a year earlier.

Elpida Memory Inc. (6665 JT) slumped 7.2 percent to 1,050 yen. Japan’s biggest computer-memory chipmaker reported a second-straight annual loss because of falling prices of semiconductors. The net loss widened to 178.9 billion yen in the 12 months ended March 31, compared with a 23.5 billion yen deficit a year earlier, the company said in a statement.

Ezaki Glico Co. (2206 JT) gained 4.1 percent to 968 yen. The confectioner expects to rebound to net income with 4.3 billion yen this fiscal year, with a 1.6 percent rise in sales. The company had a 1.07 billion yen loss a year earlier.

H2O Retailing Corp. (8242 JT) rallied 5.2 percent to 670 yen. The department store operator said it will spend as much as 8 billion to buy back up to 4.8 percent of its outstanding shares.

Hitachi Ltd. (6501 JT) plummeted 11 percent to 340 yen. The maker of nuclear reactors, household appliances and hard-disk drives said its net loss in the year just ended widened to a record 787.3 billion yen from 58.1 billion yen a year earlier, with an 11 percent drop in sales. Its loss will contract to 270 billion yen this fiscal year after the company booked tax writedowns in the previous period.

IT Holdings Corp. (3626 JT) jumped 8.4 percent to 1,331 yen. The computer services company’s full-year net income was forecast to rise 17 percent to 11 billion yen. Profit in the year ended March 31 was 9.41 billion yen, missing its forecast by 15 percent, because of weak demand for hardware amid the slumping economy. The company said it will pay a commemorative dividend of 5 yen in addition to its yearend dividend of 27 yen.

Itochu Techno-Solutions Corp. (4739 JT) climbed 8.3 percent to 2,540 yen. The computer-network systems supplier posted a 16 percent drop in net income to 12.9 billion yen in the year just ended. That beat the company’s forecast by 13 percent.

Kabu.com Securities Co. (8703 JT) slipped 2.2 percent to 110,900 yen. The online brokerage said it’s being investigated by regulators on suspicion that a former employee bought the company’s shares on inside information.

Kanac Corp. (1750 JO) sank 6.7 percent to 168 yen, while Kyowa Exeo Corp. (1951 JT) rose 1.9 percent to 808 yen. Kyowa Exeo, a builder of communication and electrical facilities, said it will pay 0.2 shares for each share of Kanac and turn it into a wholly owned subsidiary. Kanac will be delisted from the Osaka Securities Exchange on Aug. 26. Also, Kyowa Exeo had 9.39 billion yen in full-year net income, missing its outlook by 8.9 percent, citing a drop in orders and charges on devalued stockholdings.

Kayaba Industry Co. (7242 JT) declined 8.7 percent to 178 yen. The hydraulic-equipment maker forecast its net loss will widen to 6.6 billion yen this fiscal year, with a 30 percent fall in sales. The company had a 5.23 billion yen loss in the year just ended.

Kinden Corp. (1944 JO) slipped 3.4 percent to 789 yen. The electrical and environmental engineering company forecast operating profit will fall by a quarter to 19 billion yen this business year, while it expects a 7.5 percent rise in net income to 9.8 billion yen.

Kyorin Co. (4569 JT) rallied 9.7 percent to 1,310 yen. The drugmaker forecast net income more than triple to 7.3 billion yen this fiscal year from 2.04 billion yen a year earlier, as sales may rise by 6.1 percent.

Mazda Motor Corp. (7261 JT) lost 2.8 percent to 241 yen. Japan’s second-largest car exporter forecast a second-straight annual loss on a stronger yen and the global recession. The loss will likely narrow to 50 billion yen in the year ending March 2010 from a 71.5 billion yen loss a year earlier, the automaker said in a statement. Last year’s loss was the automaker’s first since the 12 months ended March 2001.

Mitsubishi UFJ Financial Group Inc. (8306 JT) fell 2.3 percent to 625. Japan’s biggest lender had its two main banking units placed on review for a possible credit-rating downgrade by Moody’s Investors Service.

NGK Insulators Ltd. (5333 JT) dropped 3 percent to 1,607 yen. The electrical-insulator maker said annual net income fell 47 percent to 24.5 billion yen, 11 percent above its projection. The company expects profit to fall 55 percent to 11 billion yen this fiscal year, with a 16 percent decline in sales.

NSK Ltd. (6471 JT) retreated 3.5 percent to 464 yen. The bearing maker forecast a net loss of 3.5 billion yen in the year to March 31, with a 15 percent fall in sales. The company earned 4.56 billion yen in the fiscal year just ended.

Next Co. (2120 JT) advanced 9 percent to 85,000 yen, its highest since February 2008. The property information provider said in a preliminary earnings statement full-year net income amounted to 375 million yen, beating its outlook by 15 percent, buoyed by lower administration costs. The company increased its full-year dividend to 210 yen from 180 yen.

Nihon Matai Co. (8042 JT) surged 22 percent to 115 yen, its biggest gain since December 2004. Rengo Co. (3941 JT), a cardboard maker, will pay 3.56 billion yen to acquire a 51.4 percent stake in food container maker Nihon Matai, the companies said in statements.

Nissan Motor Co. (7201 JT) gained 6.3 percent to 542 yen, the highest since Oct. 21. Japan’s third-largest carmaker forecast a loss of 170 billion yen for the 12 months ending March, narrowing from a shortfall of 233.7 billion yen in the year just ended, Nissan said in a statement. Tokyo-based Nissan was expected to forecast a 310 billion yen loss, according to the median of 17 analysts’ estimates compiled by Bloomberg. The company was boosted to “hold” from “reduce” by Yoshio Watanabe, an analyst at Mizuho Securities Co.

Nissha Printing Co. (7915 JT) surged by its daily limit of 14 percent to 3,310 yen, the sharpest gain since Oct. 17. The electronic-components maker said full-year net income fell 15 percent to 8.69 billion yen. That beat the company’s projection by 16 percent. Nissha Printing expects a 10 percent fall in profit to 7.8 billion yen this fiscal year.

Nitto Boseki Co. (3110 JT) tumbled 6.7 percent to 180 yen. The maker of textiles, building materials and glass fiber maker posted a net loss of 9.1 billion yen in the year just ended, reversing from 5.93 billion yen in profit a year earlier, with sales falling by 16 percent.

Olympus Corp. (7733 JT) jumped 13 percent to 1,943 yen, its steepest rise since Oct. 30. The maker of endoscopes and digital cameras forecast it will likely rebound to profit with 40 billion yen this fiscal year.

Osaki Electric Co. (6644 JT) declined 4 percent to 765 yen. The maker of electricity meters said its net income for the year ended March 31 declined 40 percent to 947 million yen. Losses related to retirement benefits for directors and charges on devalued stockholdings hurt results, Osaki said in a release to the exchange.

Pacific Metals Co. (5541 JT) dropped 5 percent to 685 yen. The stainless steel maker said it expects an 83 percent plunge in net income to 1.78 billion yen this business year, with a 39 percent drop in sales.

Rakuten Inc. (4755 JQ) gained 3.7 percent to 50,000 yen. The operator of shopping Web sites said net income jumped to 25.2 billion yen in the year ended March 31 from 1.89 billion yen a year earlier, citing deferred-tax assets related to sale of its Tokyo Broadcasting System Inc. (9401 JT) shares back to the TV broadcaster. Tokyo Broadcasting added 0.4 percent to 1,461 yen.

Rengo Co. (3941 JT) climbed 9.9 percent to 578 yen. The cardboard maker said it expects to have a 28 percent increase in full-year net income to 10 billion yen, citing lower fuel costs. It posted 7.83 billion yen in the year ended March 31, up 38 percent from a year ago.

Seino Holdings Corp. (9076 JT) added 3 percent to 587 yen, the highest since Sept. 16. The transportation company had net income of 3.3 billion yen in the year ended March 31, beating its forecast by 10 percent, according to a preliminary earnings statement. It earned 6.02 billion yen a year ago.

Taiheiyo Cement Corp. (5233 JT) advanced 7.6 percent to 198 yen, its highest since Aug. 12. The cement maker had its stock price estimate lifted to 250 yen from 160 yen by Shinya Yamada, a Tokyo-based analyst at Credit Suisse Group AG, who maintained an “outperform” rating on Taiheiyo Cement.

Takara Bio Inc. (4974 JT) sank 5.1 percent to 231,300. The biopharmaceutical company said net income in the year ended March fell 5.5 percent to 642 million yen, with a 6.7 percent slip in sales. Takara Bio expects a 44 percent decline in profit to 360 million yen this business year, because of higher corporate taxes.

Takara Holdings Inc. (2531 JT) rose 4.2 percent to 519 yen. The maker of distilled spirits posted 5.64 billion yen in net income for the year ended March 31, 21 percent higher than a year ago. The company separately said it plans to spend as much as 1.5 billion yen to buy back up to 1.17 percent of its outstanding shares from May 15 through June 25.

Takata Corp. (7312 JT) rallied 6.2 percent to 1,294 yen, the highest since Oct. 3. Japan’s largest maker of vehicle safety equipment said it will break even in the year ending in March 2010 from a net loss of 7.32 billion yen in the fiscal year that just ended.

Tomy Co. (7867 JT) soared 9.3 percent to 480 yen, its steepest gain since Oct. 30. The toymaker forecast its net income will jump to 5.7 billion yen in the year ending in March 2010 from 1.38 billion yen.

Toppan Printing Co. (7911 JT) climbed 7.8 percent to 788 yen, the highest since Oct. 6. The printing company expects a return to net income of 10 billion yen this fiscal year.

Toyota Motor Corp. (7203 JT) slid 2.1 percent to 3,660 yen. The world’s biggest automaker will slash global vehicle production by 28 percent in 2009 to the lowest in seven years as worldwide vehicle demand plummets.

Trend Micro Inc. (4704 JT) gained 5.4 percent to 2,955 yen. The world’s third-biggest maker of security software said first- quarter net income rose 4.9 percent to 4.82 billion yen. The company also said it will spend as much as 3 billion yen to buy back up to 0.75 percent of its total shares through June 30.

USS Co. (4732 JT) rallied 6.3 percent to 5,210 yen. The used-car auctioneer posted a 21 percent fall in net income to 12 billion yen in the year just ended. That was 4.8 percent above the company’s forecast. Estimated profit will fall 10 percent to 10.8 billion yen this fiscal year, with sales dropping by 9.8 percent.

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: May 13, 2009 03:16 EDT

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