Bit-isle, Cosel, Mitsui, JFE, Nippon Steel, Nintendo, Nissan: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 179.26, or 1.8 percent, to 10,067.15 at 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.
Trading houses: Mitsui & Co. (8031 JT), a trading house that counts commodities as its biggest source of profit, rose 4.4 percent to 1,140 yen, while Itochu Corp. (8001 JT), which holds an interest in a Brazilian iron-ore producer, gained 4.3 percent to 773 yen. Crude oil for July delivery yesterday gained 2.4 percent to the highest close since May 6 in New York. The London Metal Exchange Index of six metals including copper and zinc yesterday rose 0.7 percent to the highest level in two weeks.
Bit-isle Inc. (3811 JX) jumped 5.5 percent to 82,200 yen. The Internet data center operator increased its planned full- year dividend to 1,000 yen ($11) from 600 yen.
Cosel Co. (6905 JT) soared 6.9 percent to 1,448 yen, the highest close since December 2007, after the maker of power- supply products said it expects net income to nearly double to 3.68 billion yen for this fiscal year on a 43 percent surge in sales.
Hikari Tsushin Inc. (9435 JT) rallied 4.5 percent to 1,645 yen. The mobile-telecommunication subscription agency said it will spend as much as 2 billion yen to buy back up to 2.76 percent of its outstanding shares.
Japan Wind Development Co. (2766 JT) plummeted by its daily limit of 30,000 yen, or 21 percent, to 113,600, the lowest close since at least 2003. The shares yesterday plunged by 22 percent after the wind power developer said on June 14 it would be placed on the so-called monitoring post by the Tokyo Stock Exchange. The company is likely to fail to meet a TSE deadline to file its earnings auditing report because it changed its auditor, according to the release.
JFE Holdings Inc. (5411 JT) rose 4.4 percent to 2,986 yen. Japan’s second-largest steelmaker will spend about 29 billion yen on maintenance work on an idled blast furnace, JFE’s steel unit said on its website.
Kumiai Chemical Industry Co. (4996 JT) soared 9.4 percent to 257 yen, the biggest gain since May 29, 2009. Ihara Chemical Industry Co. (4989 JT) climbed 4.6 percent to 248 yen. The chemical makers separately said they plan to sell rights for a herbicide, jointly developed and marketed by Kumiai in the U.S. Kumiai Chemical boosted its full-year net income forecast by 38 percent to 760 million yen. Ihara, an agrochemical maker, raised its annual profit outlook by 47 percent to 660 million yen.
Mitsubishi Heavy Industries Ltd. (7011 JT) rose 3.1 percent to 337 yen. Japan’s transport ministry will begin tests in January of electric buses it’s developing with Mitsubishi Heavy and Mitsubishi Fuso Truck & Bus Corp., the Nikkei newspaper reported, citing people in the ministry.
Nintendo Co. (7974 JO) advanced 5.2 percent to 26,520 yen, while Sony Corp. (6758 JT) rose 1 percent to 2,639 yen. The companies demonstrated new 3-D capabilities for video games.
Nippon Steel Corp. (5401 JT) rose 2.3 percent to 318 yen. Toyota Motor Corp. (7203 JT) agreed to pay an additional 19,500 yen to 20,000 yen a ton to buy steel from Nippon Steel for the April-September period, compared with last year, Nikkei English News said. Toyota increased 1.2 percent to 3,330 yen.
Nippon Yakin Kogyo Co. (5480 JT) soared 9.8 percent to 336 yen. The stainless-steel producer has won an order of alloy used in airplane materials from aircraft makers in Japan and the U.S., the Nikkan Kogyo newspaper said.
Okuma Corp. (6103 JT) rallied 4.7 percent to 581 yen after Tachibana Securities Co. maintained its “strong outperform” rating on the machinery maker.
Senko Co. (9069 JT) leapt 5.4 percent to 293 yen. The logistics company said it will sell new shares to the public for 269 yen each to raise as much as 4.31 billion yen.
Shimamura Co. (8227 JT) advanced 2.9 percent to 8,220 yen. The apparel retailer’s operating profit probably rose 16 percent to about 8 billion yen for the March-May period, buoyed by favorable Taiwan operations, the Nikkei newspaper reported.
Shochiku Co. (9601 JT) slumped 3.5 percent to 756 yen, the steepest drop since February 2009. The movie producer and theater operator said it will raise as much as 4.04 billion yen from a sale of shares and use the funds for rebuilding Kabuki-za, a theater in Tokyo’s Ginza area that stages traditional Japanese dramas.
Sumitomo Electric Industries Ltd. (5802 JT) increased 1.5 percent to 1,121 yen, while Hitachi Ltd. (6501 JT) rose 1.7 percent to 361 yen. The companies will join a power-line project in Indonesia, the Sankei newspaper said.
Suzuki Motor Corp. (7269 JT) advanced 2.9 percent to 1,890 yen. The automaker plans to increase its Indian production capacity for passenger cars to 1.45 million units a year in 2012, Nikkei English News reported, citing President Shinzo Nakanishi.
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