Japan’s Nikkei 225 Stock Average fell 152.26, or 1.4 percent, to 11,121.53 at the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
A.D. Works Co. (3250 JQ) surged 22 percent to 22,600 yen, headed for its biggest gain on record. The real-estate company’s preliminary full-year net income was 220 million yen, 17 percent more than it had forecast.
Azearth Corp. (3161 JQ), a retailer of protective clothing, began trading today. It climbed to 500 yen after opening at 470 yen, its initial offering price.
Central Glass Co. (4044 JT) fell 5.9 percent to 445 yen, headed for its biggest decline since November 2009. The glassmaker was cut to “hold” from “buy” by Katsuhiko Ishibashi, an analyst at Deutsche Bank AG.
Chubu Electric Power Co. (9502 JT) rose 2 percent to 2,296 yen. The utility company was boosted to “buy” from “neutral” and its share price forecast was raised to 2,850 yen from 2,250 yen by Takahiro Mori, an analyst at Merrill Lynch & Co., the securities company bought by Bank of America Corp.
CSK Holdings Corp. (9737 JT) dropped 6.6 percent to 424 yen. The computer services company will take an extraordinary group loss of about 8.8 billion yen for the sale of its Cosmo Securities unit to Iwai Securities Co. (8707 JT), CSK said before markets closed yesterday. Iwai rose 5.2 percent to 605 yen.
Dainippon Screen Manufacturing Co. (7735 JT) jumped 7.1 percent to 500 yen, headed for its highest close since June 2008. The chip-equipment maker’s target share price was raised to 915 yen from 626 yen by Tetsuya Wadaki, an analyst at Nomura Holdings Inc.
Hino Motors Ltd. (7205 JT) gained 3.7 percent to 422 yen, headed for its highest close since October 2008. The automaker narrowed its full-year preliminary net loss to 3 billion yen, compared with its forecast of a 22.5 billion yen loss.
J. Front Retailing Co. (3086 JT) dropped 3 percent to 560 yen. The retailer’s March sales fell 3.3 percent from the same month a year ago, the company said.
JVC Kenwood Holdings Inc. (6632 JT) jumped 3.6 percent to 58 yen. Softbank Corp. (9984 JT) agreed to acquire JVC Kenwood’s Victor Entertainment and Teichiku Entertainment music units, the Yomiuri newspaper reported. Softbank lost 1.6 percent to 2,184 yen.
Kuroda Electric Co. (7517 JT) rose 3.1 percent to 1,401 yen. The company was boosted to “buy” from “neutral” by Koichi Hariya, an analyst at Ichiyoshi Securities Co.
Nippon Sheet Glass Co. (5202 JT) rose 2.5 percent to 289 yen, the highest since October 27. The glassmaker said it appointed Craig Naylor as Chief Executive Officer.
Saison Information Systems Co. (9640 JQ) advanced 2.4 percent to 690 yen. The information system developer’s preliminary full-year net income was 997 million yen, 40 percent more than it expected. The company cited lower than estimated costs to relocate its data center.
Seiko Epson Corp. (6724 JT) increased 2.9 percent to 1,627 yen. The communications equipment maker was boosted to “buy” from “neutral” by Toshiya Hari, an analyst at Goldman Sachs Group Inc.
Takashimaya Co. (8233 JT) declined 2.3 percent to 827 yen. The department-store chain said sales in March dropped 2.2 percent year on year.
Takata Corp. (7312 JT) rallied 4.4 percent to 2,390 yen. The auto-parts maker’s share price forecast was raised to 2,250 yen from 2,000 yen by Shinji Kakiuchi, an analyst at Morgan Stanley.
Tokyu Livable Inc. (8879 JT) advanced 6.9 percent to 946 yen, headed for its highest close since July 2009. The real- estate company said preliminary full-year net income was 1.74 billion yen, beating its forecast of 820 million yen.
To contact the reporter on this story: Anna Kitanaka in Tokyo at firstname.lastname@example.org