Cosmo Oil, Fuji Fire, Invoice, Promise, Resona, T&D, Toyota: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 73.34, or 0.7 percent, to 10,113.50 at the midday 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.

Cosmo Oil Co. (5007 JT) gained 4.2 percent to 251 yen. The refiner partly owned by the government of Abu Dhabi was raised to “outperform” from “market perform” by Reiji Ogino, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

Fuji Fire & Marine Insurance Co. (8763 JT) slumped 2.3 percent to 129 yen. The casualty insurer posted net income of 4.78 billion yen ($52.2 million) in the year ended March 31. That was 13 percent below the company’s 5.5 billion yen forecast.

Fuji Heavy Industries Ltd. (7270 JT) dropped 3.1 percent to 506 yen. The maker of Subaru vehicles was lowered to “outperform” from “strong outperform” by Tsuyoshi Mochimaru, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

Fuso Chemical Co. (4368 JQ) surged 17 percent to 2,336 yen. The maker of chemical products and resin additives said it expects a 43 percent gain in net income to 2.05 billion yen this fiscal year, as growing demand in chip markets may boost sales of its electronic materials.

Gree Inc. (3632 JT) climbed 4.9 percent to 6,050 yen, the highest since its listing of Dec. 17, 2008. The social- networking site operator was raised to “buy” from “outperform” by Jun Hasebe, an analyst at Daiwa Securities Group Inc.

Invoice Inc. (9448 JT) rose 2.7 percent to 1,428 yen. The provider of telecommunications billing services said in a preliminary earnings statement that full-year net income totaled 2.64 billion yen, beating its profit outlook by 32 percent.

Nichicon Corp. (6996 JT) advanced 2.8 percent to 1,117 yen. The capacitor maker was raised to “strong outperform” from “outperform” by Akihiko Uchino, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

Nishi-Nippon City Bank Ltd. (8327 JT) advanced 2.8 percent to 261 yen and Bank of the Ryukyus Ltd. (8399 JT) rose 0.7 percent to 1,087 yen. The regional banks may repay their bailout debts as soon as this summer, Nikkei English News reported.

Noritsu Koki Co. (7744 JO) jumped 6.3 percent to 727 yen, set for the biggest gain since February 2009. The maker of photo processing equipment expects to return to profit with net income of 250 million yen this fiscal year. It lost 20.9 billion yen a year earlier.

Promise Co. (8574 JT) slumped 4.2 percent to 664 yen. Japan’s second-largest consumer lender by market value will offer severance payments to 900 employees next month. The company expects to take a charge of about 7.5 billion yen this fiscal year, and says it will save about 3.8 billion yen in labor costs in the same period, according to a statement.

Resona Holdings Inc. (8308 JT) jumped 5.4 percent to 1,130 yen. Chairman Eiji Hosoya said Japan’s fourth-largest bank is seeking to buy back part of the 1.67 trillion yen of preference shares held by the government.

Sanrio Co. (8136 JT) leapt 3.7 percent to 890 yen. Shintaro Tsuji, president of the maker of Hello Kitty products, said the company may pay an anniversary dividend for the first half. He declined to say how much the dividend may be. Tsuji was speaking at a briefing for analysts.

Shinkin Central Bank (8421 JT) rose 1.8 percent to 162,900 yen. The lender’s full-year net income amounted to 29.2 billion yen, reversing the previous year’s loss of 182.5 billion yen.

T&D Holdings Inc. (8795 JT) advanced 3.9 percent to 2,157 yen. The life insurer said it expects a 36 percent gain in net income to 33 billion yen this fiscal year.

Toyota Motor Corp. (7203 JT) dropped 2 percent to 3,440 yen. The world’s largest carmaker will offer free repairs from tomorrow for an engine fault affecting 22,300 Passo subcompact models in Japan.

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

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