Japan Stocks: Asics, Asahi Kasei, Konami, Mixi, Shimizu, Sony

Japan's Nikkei 225 Stock Average (NKY) rose 340.23, or 2.6 percent, to 13,254.89 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.

Tiremakers gained after crude oil prices fell a third day to the lowest in three months. Bridgestone Corp. (5108) , the world's largest tiremaker by sales, jumped 117 yen, or 6.8 percent, to 1,832. Sumitomo Rubber Industries Ltd. (5110) gained 52 yen, or 6.3 percent, to 873, the biggest gain since Jan. 25. Toyo Tire & Rubber Co. (5105) rallied 23 yen, or 8.2 percent, to 303.

A drop in oil prices reduces the cost of synthetic rubber and other oil-based materials that make up about 60 percent of a tire by weight, according to the Japan Automobile Tyre Manufacturers Association.

Auto and automotive stocks also gained. Calsonic Kansei Corp. (7248) , the largest parts supplier for Nissan Motor Co. (7201) , surged 35 yen, or 10 percent, to 369. Nissan Motor rose 36 yen, or 4.5 percent, to 839. Fuji Heavy Industries Ltd. (7270) , the maker of Subaru cars, advanced 37 yen, or 6.9 percent, to 572. Mazda Motor Corp. (7261) climbed 40 yen, or 7.2 percent, to 594.

Asahi Glass Co. (5201) rose 70 yen, or 6.4 percent, to 1,160, rising the most since Nov. 29. Asia's largest glassmaker said first-half operating profit, or sales minus the cost of goods sold and administrative expenses, rose 21 percent to 109.6 billion yen ($1.01 billion), beating its forecast by 14 percent, buoyed by cost cuts. Net income in the period fell 9.2 percent to 48 billion yen.

Asahi Kasei Corp. (3407) rallied 40 yen, or 7.9 percent, to 544, its biggest gain since November 2003, after the synthetic fiber maker lowered its first-half net income outlook 27 percent to 22 billion yen. The shares, which investors had sold on concern over earnings deterioration, may have rebounded as the earnings were within expectations, said Koichi Ishihara, an analyst at Mizuho Securities Co.

Asics Corp. (7936) plunged 69 yen, or 6.9 percent, to 933, the lowest since October 2005. The sporting goods maker lowered its net income forecast for the first half by 3.4 percent and for the full year by 1.9 percent to 15.2 billion yen, citing lower-than-expected sales in Europe and foreign-exchange impacts.

Fuji Machine Manufacturing Co. (6134 JN) plunged 270 yen, or 14 percent, to 1,600, its biggest drop since August 2003. The maker of automated assembly machines cut its full-year net income forecast 26 percent to 7.3 billion yen and its sales forecast 12 percent to 91 billion yen.

Fujitsu Ltd. (6702) soared 72 yen, or 9.5 percent, to 827. Siemens AG (SIE GR) plans to pull out of its computer-making venture with Fujitsu Ltd., a move that may result in the sale or dismantling of Fujitsu Siemens Computers Holding BV, the Wall Street Journal reported, citing unidentified people. Siemens has informed its Japanese partner, which has priority in buying the German company's 50 percent stake, the newspaper reported, citing people familiar with the matter.

Futaba Corp. (6986) fell 60 yen, or 3.3 percent, to 1,746. The electronic-parts maker slashed its full-year net income outlook 85 percent to 300 million yen, citing increased raw materials and transport costs, as well as a delay in passing on products prices. First-quarter profit advanced 27 percent to 1.02 billion yen.

H2O Retailing Corp. (8242) climbed 35 yen, or 5.2 percent, to 710. The railway terminal department store operator was raised to ``overweight'' from ``equal-weight'' by Yasuyuki Sasaki at a Tokyo-based analyst at Lehman Brothers Holdings Inc.

Hiroshima Gas Co. (9535) tumbled 26 yen, or 8.2 percent, to 290, the sharpest slide since August 2004. The natural gas supplier reversed its full-year forecast to net loss of 150 million yen from an 800 million yen profit on increased raw materials costs due to surging crude oil prices.

IT Holdings Corp. (3626) gained 98 yen, or 5.1 percent, to 2,020. The computer system service company was boosted to ``buy'' from ``hold'' by Kengo Nagahashi, an analyst at Nikko Citigroup Ltd.

Konami Corp. (9766) advanced 130 yen, or 3.8 percent, to 3,570. The creator of the ``Metal Gear Solid'' video game series said first-quarter net income jumped 47 percent to 5.66 billion yen, with a 17 percent gain in revenue.

Kureha Corp. (4023) soared 68 yen, or 13 percent, to 608, rising the most since April 2001. The resin products maker said first-quarter net income more than doubled to 790 million yen from a year earlier, with a 14 percent rise in sales.

Mitsubishi Rayon Co. (3404 JT) dropped 3 yen, or 1 percent, to 307. The chemical products maker cut its full-year earnings forecast to breakeven from 9.5 billion yen in profit and reduced its planned annual dividend to 6 yen from 11 yen. The company cited a higher-than-expected surge in raw materials prices and slumping demand.

Mitsubishi UFJ Financial Group Inc. (8306) slipped 11 yen, or 1.2 percent, to 904. Japan's biggest bank by market value posted a 66 percent drop in first-quarter net income to 51.2 billion yen, missing analysts' estimates, as bad-loan costs soared.

Mixi Inc. (2121) advanced 23,000 yen, or 3.5 percent, to 689,000. The social-networking Web site operator boosted its first-half net income forecast 20 percent to 900 million yen, citing lower data center costs.

Nihon Dempa Kogyo Co. (6779) shares surged 400 yen, or 20 percent, to 2,425, its biggest rise since October 2003. The maker of quartz crystal products was raised to ``buy'' from ``neutral'' by Fumihide Goto, a Tokyo-based analyst at UBS AG.

Nihon Nohyaku Co. (4997) shares surged 94 yen, or 12 percent, to 910, rising the most since Nov. 29. The fertilizer maker said nine-month net income rose 16 percent to 2.06 billion yen, buoyed by increased sales of its proprietary products as well as decreased sales and administration costs.

Nissha Printing Co. (7915) soared 820 yen, or 16 percent, 5,840, its steepest gain since November 2005. The printing service company said first-quarter net income climbed 51 percent to 3.69 billion yen, with a 40 percent surge in sales.

Paramount Bed Co. (7960 JT) dropped 72 yen, or 4.6 percent, to 1,510. The bed maker lowered its full-year net income outlook by a quarter to 600 million yen due to a later-than-expected recovery in earnings at a French subsidiary.

Santen Pharmaceutical Co. (4536 JO) slid 80 yen, or 2.7 percent, to 2,930. The ophthalmic medicine maker was lowered to ``underperform'' from ``market perform'' by Hiroshi Sakakura, an analyst at Mitsubishi UFJ Securities Co.

Shimizu Corp. (1803) rallied 42 yen, or 10 percent, to 447, after the general contractor said first-quarter net income advanced 12 percent to 4.8 billion yen on a 38 percent jump in sales. Bigger rival Obayashi Corp. (1802) soared 52 yen, or 12 percent, to 474, the biggest gain since March 2001. Kajima Corp. (1812) surged 28 yen, or 9 percent, to 341.

SRI Sports Ltd. (7825) added 5,400 yen, or 4.5 percent, to 126,700. The sporting goods maker's first-half net income amounted to 2.8 billion yen, 12 percent above its 2.5 billion yen estimate, according to a preliminary earnings statement issued by SRI Sports.

Sanyo Electric Co. (6764 JT) rallied 21 yen, or 10 percent, to 228. Japan's third-biggest solar-cell maker forecasts its global market share will more than double by 2020 as it increases output to meet demand. Sanyo's share of the solar-battery market will climb to 10 percent by 2020, from 4 percent in the year ended March 31, the company said.

Sony Corp. (6758) advanced 230 yen, or 5.7 percent, to 4,290. The firm will buy Bertelsmann AG's (BTG GR) 50 percent stake in Sony BMG Music Entertainment for $900 million to gain full control of the world's second-largest record company and artists including Britney Spears and Justin Timberlake.

Sumitomo Real Estate Sales Co. (8870) declined 80 yen, or 2.5 percent, to 3,170. The property brokerage said first-quarter net income plunged 82 percent to 534 million yen, with a 28 percent drop in revenue due to slumps in housing and land transactions.

Tamron Co. (7740) soared 245 yen, or 16 percent, to 1,786. The lens maker said it will buy back as much as 2.8 percent of its outstanding shares through Sept. 30.

Tomy Co. (7867) rose 33 yen, or 4.9 percent, to 707. The toymaker almost tripled its first-half net income outlook to 1.6 billion yen, citing increased royalty income and lower administration costs.

Yorozu Corp. (7294) rallied 176 yen, or 15 percent, to 1,361, the biggest gain since August 2006. The maker of motor vehicle parts boosted its full-year net income forecast 17 percent to 3.61 billion yen, on better-than expected sales.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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