Chuo Mitsui, Dainippon Sumitomo, Nippon Sheet, Shizuoka Bank: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 149.75, or 1.7 percent, to 8,845.39 at the 3 p.m. close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Bank of Iwate Ltd. (8345 JT) plunged 11 percent to 4,140 yen, the biggest slide since October 1998. The regional bank said it will sell 120,000 existing shares to raise 519.4 million yen ($6.1 million).

Chuo Mitsui Trust Holdings Inc. (8309 JT) lost 3.5 percent to 301 yen. Sumitomo Trust & Banking Co. (8403 JT) decreased 1.9 percent to 459 yen. The financial companies reached a final agreement to merge. Chuo Mitsui shareholders will get a one-to- one share swap and Sumitomo Trust owners will receive 1.49 shares for each they hold, according to a statement from the banks to the Tokyo Stock Exchange.

Daiichi Kensetsu Corp. (1799 JQ) jumped 3.2 percent to 652 yen. The civil engineering company said it will spend as much as 160 million yen to repurchase up to 0.93 percent of its outstanding shares.

Dainippon Sumitomo Pharma Co. (4506 JT) increased 1.8 percent to 692 yen after the pharmaceutical company was raised to “buy” from ”hold” by Citigroup Global Markets Japan Inc.

Mitsubishi UFJ Financial Group Inc. (8306 JT) lost 1.9 percent to 408 yen. The company’s Bank of Tokyo-Mitsubishi UFJ unit, Credit Agricole SA (ACA FP) and two other banks were due to sign an agreement today for a $1 billion syndicated loan for China’s Sinochem Corp., Nikkei English News said, without citing anyone.

Nippon Sheet Glass Co. (5202 JT) sank 5 percent to 189 yen, the lowest close since March 2009. The glassmaker plans to raise as much as 49.8 billion yen by selling shares to the public in Japan and overseas.

Shizuoka Bank Ltd. (8355 JT) gained 3.7 percent to 699 yen. The regional bank plans to buy back up to 1.45 percent of its outstanding shares for as much as 8 billion yen.

Toyota Tsusho Corp. (8015 JT) decreased 4 percent to 1,188 yen. The trading company said its shareholders will sell as many as 13.7 million shares to the public. The Toyota Motor Corp. (7203 JT) trading unit said in a press release that the price hasn’t been determined. Toyota retreated 2.4 percent to 2,910 yen.

Uchida Yoko Co. (8057 JT) added 3.6 percent to 233 yen. The office-equipment trader had a 2.1 billion yen net loss for the year ended July 20, narrower than its earlier forecast of a 2.4 billion yen loss, according to a preliminary earnings statement.

UKC Holdings Corp. (3156 JT) fell 3.6 percent to 840 yen. The wholesaler of semiconductors and electronics parts will sell shares for 840 yen each to raise as much as 1.58 billion yen, according to a filing with Japan’s finance ministry.

To contact the reporter on this story: Monami Yui in Tokyo at myui1@bloomberg.net; Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.