ABC-Mart, JGC Corp., Kureha, Nidec, Oji Paper, Toshiba: Equity Movers
Japan’s Nikkei 225 Stock Average rose 51.29, or 0.6 percent, to 9,114.13 as of the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
ABC-Mart Inc. (2670 JT) slumped 3.6 percent to 2,386 yen, the lowest close since June 2009. The shoe retailer said same- store sales dropped 8.9 percent in August as the number of customers fell 10.6 percent.
Furukawa Electric Co. (5801 JT) gained 3.5 percent to 326 yen. The wire and cable producer will spend 8.2 billion yen ($97.2 million) to build a production line for a plate-type light reflector for LED-backlit LCD televisions by November, Nikkei English News said, without saying where it got the information.
Kureha Corp. (4023 JT) rallied 3.2 percent to 426 yen. The maker of chemical products boosted first-half net income forecast 67 percent to 1 billion yen, citing higher sales and lower sales and overhead costs.
Matsuya Co. (8237 JT) tumbled 7.2 percent to 582 yen. Isetan Co., a unit of Isetan Mitsukoshi Holdings Ltd. (3099 JT), will end its capital and operational connections with Matsuya this month, and end talks about integrating operations, Nikkei English News said, without saying where it got the information. Isetan Mitsukoshi, which gained 0.5 percent to 938 yen, denied the report.
Isetan Mitsukoshi has no plans to sell shares in Matsuya, spokeswoman Miho Okada said, denying the report. Isetan Mitsukoshi shares slid 0.6 percent to 927 yen.
Nidec Corp. (6594 JO) retreated 2.5 percent to 7,400 yen. The world’s biggest maker of disk-drive motors plans to sell as much as 100 billion yen of five-year convertible bonds, according to a filing with Japan’s finance ministry.
Oji Paper Co. (3861 JT) lost 1.8 percent to 385 yen. The papermaker was cut to “neutral” from “buy” at UBS AG.
Sony Corp. (6758 JT) advanced 2.4 percent to 2,485 yen. The world’s third-largest maker of televisions hasn’t decided yet whether to offer its own tablet computer to compete with Apple Inc.’s (APPL US) iPad, Chief Executive Officer Howard Stringer said in Berlin. Sony predicts it will sell 2.5 million 3D television sets this year, according to Executive Deputy President Hiroshi Yoshioka.
United Arrows Ltd. (7606 JT) fell 4 percent to 1,012 yen. The apparel chain did not disclose its monthly sales report which is usually announced on the second business day every month, aiming to avoid fluctuation in share prices between Aug. 31 and Sept. 29, when it buys back its own shares through a tender, the company said on its Web site. It plans to disclose August sales figures on Oct. 4.
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