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Alps, Autobacs, Konica Minolta, Pioneer, Sony, Takefuji: Japanese Stocks

Japan’s Nikkei 225 Stock Average fell 158.04, or 1.5 percent, to 10,462.51 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.

Acom Co. (8572 JT) rose 2.7 percent to 1,350 yen. The consumer lender said it agreed to acquire a loan-guarantee business of Mitsubishi UFJ Nicos, a Mitsubishi UFJ Financial Group Inc. credit-card unit. Also, Acom expects to turn to net income of 26.2 billion yen ($283 million) this fiscal year.

Alps Electric Co. (6770 JT) soared for a second day, jumping 12 percent to 808 yen, the highest since September 2008. The auto-electronics maker was raised to “outperform” from “underperform” by Mitsubishi UFJ Morgan Stanley Securities Co. Alps said on May 12 it expects net income will jump to 14 billion yen this fiscal year from 570 million yen in the year ended March 31.

Autobacs Seven Co. (9832 JO) jumped 6.1 percent to 3,470 yen, the steepest advance since May 18, 2009. The autoparts retailer posted a return to net income of 5.87 billion yen in the fiscal year ended March 31, buoyed by lower advertizing costs and smaller foreign-exchange losses. The company also said it will buy back as much as 4.46 percent of its outstanding shares.

CSK Holdings Corp. (9737 JT) gained 5.3 percent to 520 yen, the highest since June 17, 2009, as it extended yesterday’s 14 percent surge. The computer services company said on May 12 it expects a return to net income of 500 million yen this fiscal year as it cuts costs.

Digital Garage Inc. (4819 JQ) sank 13 percent to 179,500 yen. The website service provider agreed with Twitter Inc. (2903130Z US) to exclusively sell advertising space on the Japanese-language version of the social-networking Web site.

Heiwa Corp. (6412 JT) advanced 5.3 percent to 939 yen, the largest gain since May 15, 2009. The pachinko-machine maker forecast net income will rise 22 percent to 14.6 billion yen this fiscal year on sales growth.

Japan Drilling Co. (1606 JT) tumbled 13 percent to 3,940 yen, the sharpest decline and lowest since its listing of Dec. 17, 2009. The offshore drilling contractor forecast net income will decline 59 percent to 4.12 billion yen this fiscal year on falling sales.

JGC Corp. (1963 JT) climbed 4.5 percent to 1,619 yen after the plant engineering company said it expects net income to rise 22 percent to 33 billion yen this fiscal year on growing sales.

Kansai Paint Co. (4613 JT) rallied 7.3 percent to 736 yen, rising the most since January 2009, after the paint maker forecast an 11 percent increase in net income to 13.1 billion yen on sales growth.

Kojima Co. (7513 JT) slumped 4 percent to 724 yen. The electronics retailer’s pre-tax profit may drop to about 5.5 billion yen in the current fiscal year from an estimated 6 billion yen for the year ended March 31, due to falling prices, the Nikkei newspaper reported.

Konica Minolta Holdings Inc. (4902 JT) slid 3.9 percent to 1,070 yen. The maker of film used in liquid-crystal displays said full-year operating profit fell 22 percent to 44 billion yen, with a 15 percent drop in sales.

Nissan Chemical Industries Ltd. (4021 JT) lost 4.6 percent to 1,163 yen. The chemical products maker was cut to “neutral” from “buy” by Takaaki Muramatsu, a Tokyo-based analyst at UBS AG.

Nissha Printing Co. (7915 JT) tumbled 14 percent to 2,724 yen, the steepest drop since January 2009. The maker of film for screens used in mobile phones expects a 39 percent decline in net income to 4.2 billion yen this fiscal year.

Nissin Foods Holdings Co. (2897 JT) rose 4.6 percent to 3,180 yen. The maker of instant noodles was raised to “overweight” from “neutral” by Naomi Takagi, a Tokyo-based analyst at JPMorgan Chase & Co.

Pioneer Corp. (6773 JT) soared 9 percent to 362 yen. The maker of car-navigation and audio equipment expects to turn to net income of 11 billion yen this fiscal year as sales recover.

Properst Co. (3236 JQ) plunged by its daily limit of 300 yen, or 23 percent, to 980 yen. The real-estate company filed for bankruptcy protection with 55.4 billion yen in liabilities. The company said in a press release that it will maintain its stock listing on the Jasdaq market.

Shinsei Bank Ltd. (8303 JT) lost 4.5 percent to 106 yen, Aozora Bank Ltd. (8304 JT) sank 5 percent to 114 yen. The lenders said they canceled a planned merger that would have created Japan’s sixth-largest bank by assets. Shinsei Bank, the lender partly owned by U.S. investor J. Christopher Flowers, said it may raise as much as 100 billion yen in capital after scrapping the merger plans.

Sony Corp. (6758 JT) slumped 6.8 percent to 2,950 yen, the sharpest decline since May 14, 2009. The electronic-products maker forecast net income of 50 billion yen in the year ending March 2011. That’s less than half the average of 19 analyst estimates compiled by Bloomberg. Sony lost 40.8 billion yen a year earlier.

Takefuji Corp. (8564 JT) rose 2.7 percent to 348 yen. The consumer lender turned to full-year net income of 4.58 billion yen compared with a loss a year earlier. It expects the profit will more than double to 9.9 billion yen this fiscal year.

Ulvac Inc. (6728 JT) lost 5.8 percent to 1,969 yen, the biggest drop since July 13, 2009. The maker of liquid crystal display and solar panels said nine-month operating profit plunged 75 percent to 282 million yen. JPMorgan Chase & Co. cut its Ulvac rating to “neutral” from “overweight.”

Unitika Ltd. (3103 JT) soared 9 percent to 85 yen, the sharpest increase since May 18, 2009, after the synthetic-fiber maker said it expects net income to nearly double to 6 billion yen this fiscal year on rebounding sales and lower costs. The company earned 3.04 billion yen a year earlier.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net. Anna Kitanaka in Tokyo at akitanaka@bloomberg.net.

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