Crescendo, Leopalace21, Sundrug, Teijin, Yamada Denki: Japanese Stocks

Japan’s Nikkei 225 Stock Average fell 125.12, or 1.2 percent, to 10,112.89 as of the close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Advance Residence Investment Corp. (3269 JT) fell 2.1 percent to 114,700 yen. The real-estate-investment trust will sell new shares to the public for 113,684 yen ($1,249) each, according to a filing with Japan’s finance ministry.

Japan Single-Residence REIT Inc. (8970 JT) soared 9.9 percent to 108,500 yen, the highest since Oct. 27, while Crescendo Investment Corp. (8966 JT) slumped 3.2 percent to 150,700 yen. Crescendo Investment will buy Japan Single- Residence in a stock transaction. Crescendo will first split each share into four and offer three of those units for each share of Japan Single-Residence, according to separate filings.

Japan Wind Development Co. (2766 JT) plunged by its daily limit of 10,000 yen, or 15 percent, to 55,400 yen, the lowest since at least March 2003. The wind-power developer said President Masayuki Tsukawaki’s stake in Japan Wind was reduced to 6.27 percent from 10.99 percent as his security on loan was sold by financial institutions in terms of an acceleration clause. Tsukawaki is no longer the largest shareholder of Japan Wind, it said in a release.

JVC Kenwood Holdings Inc. (6632 JT) fell 2.5 percent to 39 yen. Japan’s Securities and Exchange Surveillance Commission recommended the government impose fines on JVC Kenwood and its Victor unit for falsifying financial statements.

Leopalace21 Corp. (8848 JT) advanced 4.1 percent to 329 yen. The real-estate company’s rating was boosted to “buy” from “hold” by Takeshi Fujita, a Tokyo-based analyst at Deutsche Bank AG.

Net One Systems Co. (7518 JT) jumped 5.3 percent to 132,100 yen. The communications-network designer has signed a contract with SeaMicro Inc., a California-based start-up, to start selling Internet servers that run Intel Corp.’s 512 Atom microprocessors from next month. Net One aims to generate 3 billion yen ($33 million) in sales of the new server over three years, it said in a release dated yesterday on its Web site.

Nihon Inter Electronics Corp. (6974 JT) tumbled 11 percent to 153 yen. The maker of semiconductor devices said it has doubts about its viability, as its liabilities exceeded assets by 4.74 billion yen at the end of March. The Tokyo Stock Exchange will move the company’s shares to the bourse’s second section from the first section as of Aug. 1, Nihon Inter separately said in a release.

Nisshin Fudosan Co. (8881 JT) sank 5 percent to 652 yen, after gaining as much as 3.1 percent earlier today. The real- estate company will aid Tada Corp. (1843 JP), a condominium builder under court-led rehabilitation, and make it a subsidiary through a stock purchase. Nisshin Fudosan raised its full-year net income forecast by 51 percent to 2.87 billion yen, citing higher-than-expected sales and gains related to the investment in Tada.

Sakura Internet Inc. (3778 JT) soared 9.7 percent to 176,000 yen. The Internet-service company said it will cancel 3.58 percent of its outstanding shares on June 30.

Sundrug Co. (9989 JT) lost 4.3 percent to 2,192 yen, the largest decline since Dec. 10. The drugstore chain was rated “underweight” in new coverage by Daisuke Matsumoto, an analyst at Barclays Capital in Tokyo, who set its target price at 1,900 yen.

Teijin Ltd. (3401 JT) climbed 2.8 percent to 290 yen. The fiber maker may post net income of between 3 billion yen and 4 billion yen for the three months ending June 30, reversing a 17.7 billion yen loss a year earlier, the Nikkei newspaper reported.

Yamada Denki Co. (9831 JT) rose 1.7 percent to 6,160 yen. The electronics retailer was rated “overweight” in new coverage by Barclays Capital analyst Maki Shinozaki, who set its stock price estimate at 7,400 yen.

Yokogawa Bridge Holdings Corp. (5911 JT) rallied 5.3 percent to 575 yen. The builder of bridges and steel towers said it will spend as much as 1.2 billion yen to buy back up to 3.3 percent of its shares.

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

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