Eisai, Fuji Electric, JX Holdings, Mazda, Sanrio, Suzuki: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 72.70, or 0.8 percent, to 9,503.66 at the close. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Eisai Co. (4523 JT) rose 3.9 percent to 2,887 yen, the most since May 2009. The pharmaceutical company and Pfizer Inc. (PFE US) won U.S. regulatory approval to sell a higher-dose version of Aricept that the companies say will help counter a potential sales decline of the world’s biggest drug for Alzheimer’s disease.
Inpex Corp. (1605 JT) rose 4.9 percent to 430,000 yen. Deutsche Securities Inc. reaffirmed its “buy’ rating on the stock, saying a $6.6 billion equity-financing plan is a long- term positive. The explorer will announce the price of the new shares between July 26 and 28.
JFE Holdings Inc. (5411 JT) advanced 1.6 percent to 2,742 yen. The steelmaker may have group pretax profit of 100 billion yen ($1.14 billion) for the first half of the year ending September, compared with a pretax loss one year earlier, Nikkei English News reported.
JX Holdings Inc. (5020 JT) increased 1.5 percent to 468 yen. The petroleum company and Idemitsu Kosan Co. (5019 JT) may post pretax profits for the quarter ended in June, boosted by higher margins from refining, Nikkei English News reported, without saying where it got the information. Idemitsu Kosan climbed 0.5 percent to 6,550 yen.
Kinugawa Rubber Industrial Co. (5196 JT) soared 27 percent to 374 yen, the most since January 2009. The rubber and resin processor raised its full-year net income forecast to 4.3 billion yen from 3 billion yen.
Koa Corp. (6999 JT) surged 9.1 percent to 986 yen. The electronic-parts maker forecast it will have 1.5 billion yen in net income for the six months ending Sept. 30, compared with a net loss of 181 million yen a year earlier. The company also said it will pay a first-half dividend of 8 yen a share, up from the previous year’s payout of 4.5 yen.
Misumi Group Inc. (9962 JT) increased 2.3 percent to 1,760 yen. The mail-order distributor of precision machine parts said sales in June increased 57 percent to 10.5 billion yen from a year earlier, 7.2 percent higher than the company’s target.
Nidec Copal Corp. (7756 JT) advanced 2.9 percent to 1,388 yen. The maker of electronic components for optical equipment said first-quarter net income jumped to 1.33 billion yen from 201 million yen a year earlier with an increase in sales.
Nidec Sankyo Corp. (7757 JT) jumped 1.9 percent to 713 yen. The maker of electronic components raised its full-year net income forecast 13 percent to 6.2 billion yen.
Nishi-Nippon City Bank Ltd. (8327 JT) rose 1.6 percent to 253 yen. The lender was rated “overweight” in new coverage at JPMorgan Chase & Co.
Panasonic Electric Works Co. (6991 JT) advanced 4.4 percent to 952 yen. The manufacturer of building materials and light equipment boosted full-year net income 53 percent to 23 billion yen.
Rhythm Watch Co. (7769 JT) surged 8.3 percent to 144 yen. The clockmaker said it will spend as much as 600 million yen to buy back up to 2.6 percent of its shares.
Sanrio Co. (8136 JT) leapt 12 percent to 1,229 yen, the highest close since September 2008. The maker of Hello Kitty products boosted its full-year net income forecast by 31 percent to 6.2 billion yen, citing a jump in licensing revenue in the U.S. and Europe. The company said it will pay a special dividend of 5 yen, in addition to the planned annual dividend to 10 yen a share.
Sanyo Chemical Industries Ltd. (4471 JT) jumped 4.4 percent to 596 yen. The maker of chemical products raised its full-year net income forecast to 5.1 billion yen from 3.8 billion yen.
Suzuki Motor Corp. (7269 JT) fell 3.2 percent to 1,764 yen. Its Indian unit Maruti Suzuki India Ltd. (MSIL IN) tumbled in Mumbai trading after first-quarter net income unexpectedly declined and Citigroup Inc. and Nomura Holdings Inc. lowered their ratings.