Aichi Steel, Alpine, Furukawa Electric, Kokuyo, Minebea: Equity Movers
Japan’s Nikkei 225 Stock Average fell 34.63, or 0.3 percent, to 10,914.46 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.
Aichi Steel Corp. (5482 JT) rallied 7.1 percent to 423 yen. The specialty steelmaker’s net income for the year ended March 31 was 6.6 billion yen ($70.9 million), beating its forecast of 3.2 billion yen profit, according to a preliminary earnings statement. The company also said it will pay a yearend dividend of 6 yen.
Alpine Electronics Inc. (6816 JT) soared 11 percent to 1,298 yen, the highest close since June 2008. The maker of car- audio equipment said in a preliminary earnings statement its full-year net loss narrowed to 1.3 billion yen from 9.29 billion yen a year earlier. The loss was smaller than the company’s forecast of 3 billion yen.
Canon Marketing Japan Inc. (8060 JT) gained 7.8 percent to 1,421 yen, the sharpest advance since July 7. The company, which distributes all of Canon Inc.’s (7751 JT) products, booked 657 million yen in net income for the three months ended March 31, compared with a loss of 4.54 billion yen a year earlier. Canon Inc. rose 0.4 percent to 4,245 yen.
Cmic Co. (2309 JT) surged by its upper daily limit of 5,000 yen, or 22 percent, to 28,000 yen. The medical research provider’s first-half net income totaled 1.08 billion yen, beating its 500 million yen outlook, with better-than-expected sales and cost savings.
CyberAgent Inc. (4751 JT) gained 2 percent to 170,500 yen, after the online advertising agency boosted its full-year net income projection 61 percent to 5 billion yen, with better-than- expected sales, and increased its planned dividend to 1,700 yen from 1,300 yen.
Fujifilm Holdings Corp. (4901 JT) fell 2.2 percent to 3,145 yen. The film maker may turn to operating profit of about 120 billion yen for the year ending next March, Nikkei English News reported. That was 16 percent below the analyst estimates, according to data compiled by Bloomberg.
Hyakugo Bank Ltd. (8368 JT) advanced 3.3 percent to 438 yen. The regional bank booked 5.6 billion yen in full-year net income, 30 percent higher than its forecast, according to a preliminary earnings statement.
Hyakujushi Bank Ltd. (8386 JT) rose 3.3 percent to 438 yen. The regional bank had 5 billion yen in full-year net income, exceeding its forecast of a 3.2 billion yen profit, it said in a preliminary earnings statement.
Jtekt Corp. (6473 JT) declined 3.7 percent to 1,068 yen. The autoparts maker said its net loss unexpectedly widened to 20 billion yen from a 12 billion yen loss a year earlier, citing business restructuring costs at its subsidiary. It had earlier forecast a loss of 11 billion yen.
Kokuyo Co. (7984 JT) rallied 8.6 percent to 851 yen, headed for the biggest gain since October 2008. The stationary maker’s first-quarter net income jumped to 2.52 billion yen from 1.01 billion yen a year earlier.
Medinet Co. (2370 JT) surged 12 percent to 46,450 yen. The provider of immunotherapeutic specialists to medical institutions boosted its full-year net income outlook 60 percent to 320 million yen, citing cost cuts and foreign exchange gains.
Nippon Synthetic Chemical Industry Co. (4201 JT) leapt 7 percent to 644 yen. The chemical-products maker had 5.7 billion yen in full-year net income, up 14 percent from its forecast of a 5 billion yen profit, according to a preliminary earnings statement. The company raised the planned year-end dividend to 6 yen from 4 yen. It separately said it will spend 6 billion yen to boost output of LCD film material.
Sumitomo Mitsui Construction Co. (1821 JT) gained 2.2 percent to 92 yen. The general contractor’s full-year net income amounted to 2.5 billion yen, beating its 2 billion yen outlook by 25 percent on lower costs and earnings turnarounds in a subsidiary, according to a preliminary earnings statement.
United Urban Investment Corp. (8960 JT) climbed 2 percent to 599,000 yen, while Nippon Commercial Investment Corp. (3229 JT) plunged 20 percent to 116,500 yen. The real-estate investment funds said they will merge.
Yahoo Japan Corp. (4689 JT) rose 4 percent to 36,050 yen. The operator of Japan’s most visited Internet portal had its stock price estimate increased to 34,600 yen from 27,500 yen by Credit Suisse Group AG. Also, Macquarie Group Ltd. boosted its 12-month target price on Yahoo Japan to 41,000 yen from 36,000 yen, maintaining its “outperform” rating.
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