Abilit, Hitachi High-Tech, Kenedix, Konami, Monex, Panasonic: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 35.79, or 0.4 percent, to 9,566.32 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.

Property developers: Mitsui Fudosan Co. (8801 JT), Japan’s biggest property developer by sales, rose 1.7 percent to 1,411 yen after Japanese land-price declines slowed for the first time since 2007, according to the Ministry of Land, Infrastructure, Transport and Tourism. Mitsubishi Estate Co. (8802 JT) climbed 1.4 percent to 1,339 yen. Nomura Real Estate Holdings Inc. (3231 JT) increased 3.2 percent to 1,179 yen. Sumitomo Realty & Development Co. (8830 JT) advanced 1.7 percent to 1,721 yen.

Abilit Corp. (6423 JO), a pachinko-machine maker, sank 7.4 percent to 75 yen. Konami Corp. (9766 JT), a Japanese video game developer, will acquire Abilit in a stock transaction on Jan. 1. Konami will offer 0.052 of a share for each in Abilit share, according to a statement to the Tokyo Stock Exchange. Konami increased 0.5 percent to 1,498 yen.

Asahi Co. (3333 JT), a bicycle retailer, fell 4 percent to 1,178 yen. The company’s first-half net income dropped 7.5 percent to 1.39 billion yen ($16.3 million) on a parent basis because of higher sales administration costs.

Hitachi High-Technologies Corp. (8036 JT), a trading company, increased 4 percent to 1,588 yen. The company’s stock rating was raised to “overweight” from “neutral” at JPMorgan Chase & Co. Its share price estimate was left unchanged at 2,000 yen.

Kenedix Inc. (4321 JT), a property investor, jumped 8.4 percent to 14,310 yen. The company’s stock rating was raised to “hold” from “reduce” by BNP Paribas. The share-price estimate was also increased to 14,200 yen from 9,600 yen.

Kobe Bussan Co. (3038 JO), a supermarket operator, gained 5.1 percent to 1,503 yen. The company boosted its full-year net income forecast by 35 percent to 1.15 billion yen. The company also raised the planned yearend dividend to 40 yen from 30 yen and plans to spend as much as 360 million yen to buy back up to 2.27 percent of its outstanding shares.

Ministop Co. (9946 JT), a convenience-store operator, rose 3.2 percent to 1,259 yen. The company booked 2.1 billion yen in net income for the six months to Aug. 31, beating the company’s forecast by 17 percent, citing strong sales of products for summer and lower administration costs, according to a preliminary earnings statement.

Mitsui & Co. (8031 JT), a trading company, rose 1.8 percent to 1,216 yen. The company will acquire 5 percent of Arch Pharmalabs Ltd. (ARCZ IN), an Indian maker of drug intermediates, for 1.2 billion yen through a private placement in October.

Monex Group Inc. (8698 JT), a provider of investment services, tumbled 7.4 percent to 28,380 yen, the lowest close since April 2009. The company plans to sell at least 140,000 shares in Japan to raise 4.67 billion yen, according to a statement to the Tokyo Stock Exchange. Also, Citigroup Inc. (C US) will reduce its stake in Monex Group to 3.6 percent from 20.6 percent in a share sale to the public, Monex said.

Nippon Sharyo Ltd. (7102 JT), a maker of freight rail cars, advanced 7.5 percent to 416 yen. Nippon Sharyo and Sumitomo Corp. (8053 JT) won a $560 million rail-car order from the U.S., Sumitomo said. Sumitomo rose 0.5 percent to 1,082 yen.

Nippon Steel Trading Co. (9810 JT), a steel-products trader, rallied 3 percent to 240 yen. The company raised its net income forecast for the year ending March to 6.7 billion yen, compared with its previous outlook of 5.5 billion yen.

Panasonic Corp. (6752 JT), the electrical company, rose 2.4 percent to 1,138 yen. The company plans to avoid issuing new shares as part of its buyouts of Sanyo Electric Co. (6764 JT) and Panasonic Electric Works Co. (6991 JT) and will use its cash and loans to finance the purchases, Nikkei English News reported. Sanyo was unchanged at 137 yen. Panasonic Electric Works slid 0.1 percent to 1,107 yen.

Taiheiyo Cement Corp. (5233 JT), a cement maker, lost 2.8 percent to 103 yen. The company’s stock rating was lowered to “neutral” from “neutral plus” by Kenzo Sato, an analyst at Toward the Infinite World Inc.

Toyoda Gosei Co. (7282 JT), an auto-parts maker, dropped 4.4 percent to 1,907 yen, the largest decline since September 2009. The company’s investment rating was reduced to “neutral” from “buy” by Yuichiro Isayama, an analyst at Goldman Sachs Group Inc. The share price target was also cut to 2,300 yen from 3,000 yen.

To contact the reporters on this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net; Anna Kitanaka in Tokyo at akitanaka@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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