Hitachi Cable, Kubota, Ohara, Sanyo, Sekisui, Sharp, Voltage: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 162.60, or 1.7 percent, to 9,705.25 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.
Cement makers: Domestic demand for cement in July will drop 0.6 percent, compared with an estimate of 4.8 percent decline in June, Japan’s Ministry of Land, Infrastructure, Transport and Tourism said yesterday. Fresh concrete demand will increase 1.3 percent, according to the ministry. Sumitomo Osaka Cement Co. (5232 JT) surged 7.3 percent to 176 yen, the most since May 2009. Taiheiyo Cement Corp. (5233 JT) jumped 4.4 percent to 120 yen. Mitsubishi Materials Corp. (5711 JT) gained 3 percent to 244 yen.
Asahi Diamond Industrial Co. (6140 JT) leapt 9 percent to 1,483 yen, the highest close since January 1995. The maker of diamond-tipped tools was rated “strong outperform” in new coverage by Yoshihito Hasegawa, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.
Brother Industries Ltd. (6448 JT) climbed 3.5 percent to 1,030 yen. The maker of office equipment and sewing machines has resumed production of industrial sewing machines in China after a week-long strike by workers demanding pay raises, Reuters reported, citing the company.
Dr Ci:Labo Co. (4924 JT) rallied 5.3 percent to 248,500 yen, the highest close since March 2005. The cosmetics developer’s net income for the nine months ended April 30 surged 88 percent to 3.51 billion yen ($38.6 million) with a jump in sales.
Hitachi Cable Ltd. (5812 JT) rose 2.6 percent to 238 yen. The electric cable maker plans to invest 3 billion yen to 4 billion yen to start producing industrial cables at a plant in Vietnam as early as fiscal 2012, Nikkei English News reported, without saying how it got the information.
Kubota Corp. (6326 JT) gained 3.3 percent to 744 yen. Asia’s largest tractor maker was raised to “outperform” from “market perform” by Teruo Isozaki, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.
Mitsubishi Tanabe Pharma Corp. (4508 JT) climbed 2.6 percent to 1,290 yen. A medicine it helped discover won the support of a committee advising the U.S. Food and Drug Administration for treating multiple sclerosis.
Nabtesco Corp. (6268 JT) rose 4.5 percent to 1,385 yen, the highest close since July 2008. JPMorgan Chase & Co. analyst Hirotaka Wada increased his rating on the hydraulic-equipment maker to “overweight” from “neutral.”
Ohara Inc. (5218 JT) surged 6.7 percent to 1,499 yen. The optical glassmaker said it will spend 3.7 billion yen to boost output capacity of glass substrates for hard disk drives in addition to 1.6 billion yen it had planned earlier. It aims to produce 2.1 million glass substrates by July 2011.
The company more than doubled its full-year net income forecast to 2 billion yen, citing sales of optical glass for camera lenses and demand for glass substrates. It raised its planned year-end dividend to 20 yen from 15 yen.
Sanyo Electric Co. (6764 JT) gained 4.8 percent to 130 yen. The electrical appliances maker would consider making solar modules in the U.S. and Europe, Nikkei English News said, citing an interview with Sanyo President Seiichiro Sano. Sanyo’s parent Panasonic Corp. (6752 JT) leapt 6.9 percent to 1,220 yen, gaining the most since July 24.
Sekisui House Ltd. (1928 JT) dropped 4.2 percent to 813 yen. The home builder said it had a 2.45 billion yen operating loss in its real-estate sales business for the three months ended April 30.
THK Co. (6481 JT) extended yesterday’s gain, rising 4.1 percent to 2,034 yen. The industrial machinery maker was increased to “outperform” from “underperform” by Christopher Cintavey, an analyst at Macquarie Group Ltd. He boosted his 12- month share price estimate to 2,700 yen from 1,300 yen.
Toshiba Corp. (6502 JT) advanced 2.2 percent to 460 yen. Fujitsu Ltd. (6702 JT) gained 0.9 percent to 560 yen. The companies are in final talks to combine mobile-phone operations and create Japan’s second-largest handset producer, two officials at the companies said.
Toyo Ink Manufacturing Co. (4634 JT) soared 13 percent to 355 yen, rising the most since May 19, 2009. The maker of printing ink was rated “buy” in coverage by Takashi Nishihira, an analyst at Ichiyoshi Research Institute Inc.
Voltage Inc. (3639 JT) was traded at 3,310 yen, 44 percent higher than its initial offering price of 2,300 yen. The provider of mobile content service was listed on the Tokyo Stock Exchange’s Mothers section today.
Bloomberg moderates all comments. Comments that are abusive or off-topic will not be posted to the site. Excessively long comments may be moderated as well. Bloomberg cannot facilitate requests to remove comments or explain individual moderation decisions.