Hitachi, Sowa Jisho, Tokyo Electric, Toyota Boshoku, Yahoo: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 56.87, or 0.6 percent, to 9,711.83 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.

Child-care impact: The government started a child-care allowance today, paying 13,000 yen ($142) per child per month, the Nikkei newspaper and other media reported.

Tokyo Individualized Educational Institute Inc. (4745 JT), a cram school operator, jumped 9.9 percent to 255 yen, its highest close since Sept. 2, and its rival Gakkyusha Co. (9769 JQ) rose 1.9 percent to 586 yen. Up Inc. (9630 JT), an operator of cram schools and English conversation schools, gained 4.5 percent to 514 yen. Also, Nishimatsuya Chain Co. (7545 JT), a children’s clothing retailer, advanced 2.8 percent to 951 yen.

Hitachi Ltd. (6501 JT) slumped 3.5 percent to 359 yen. Hitachi President Hiroaki Nakanishi said the “financial confusion in Europe is affecting various parts of our business,” the Financial Times reported, citing an interview. Separately, the Nikkei English News said Hitachi plans to reconfigure its nuclear businesses.

Sowa Jisho Co. (3239 JQ) dropped by its daily limit of 30 yen, or 30 percent, to 69 yen, falling to the lowest level since its listing in 2007. The Osaka Securities Exchange will delist the condominium management company’s shares from the Jasdaq Securities Exchange on July 1 because Sowa Jisho’s liabilities exceeded its assets for a second consecutive year, failing the bourse’s requirements for listing, Sowa Jisho said in a Japanese-language release yesterday.

Tokyo Electric Power Co. (9501 JT) gained 4.3 percent to 2,353 yen, its biggest advance since November 2008. Asia’s biggest utility was lifted to “buy” from “neutral” by Hiroyuki Sakaida, a Tokyo-based analyst at Goldman Sachs Group Inc., who also increased the stock price estimate to 2,600 yen.

Toyota Boshoku Corp. (3116 JT) lost 5.4 percent to 1,416 yen. A parts affiliate of Toyota Motor Corp. (7203 JT) was lowered to “neutral” from “overweight” by Kohei Takahashi, a Tokyo-based analyst at JPMorgan Chase & Co., who also cut the target price to 1,600 yen. Toyota Motor slid 0.5 percent to 3,265 yen.

Unitika Ltd. (3103 JT) increased 3.9 percent to 81 yen. The synthetic-fiber maker’s stock price estimate for 12 months was increased to 88 yen from 74 yen by Hiromichi Aoki, an analyst at Nomura Holdings Inc., who maintained his “neutral” rating.

Yahoo Japan Corp. (4689 JT) leapt 2.5 percent to 32,800 yen. The operator of Japan’s most-visited Internet portal was raised to “neutral” from “underperform” by Atsuo Takahashi, an analyst at Mizuho Securities Co. Also, Barclays Capital raised the share-price estimate on Yahoo Japan to 42,000 yen from 41,000 yen.

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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