Acrodea, Izumiya, JFE, Kobe Steel, Taiyo Yuden, Takefuji: Japanese Stocks

Japan’s Nikkei 225 Stock Average fell 107.38, or 1.1 percent, to 9,495.76 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Steelmakers: JFE Holdings Inc. (5411 JT) and other steelmakers advanced after Goldman Sachs Group Inc. reported Chinese steel exports are likely to decline in 2011-12 from this year’s estimated levels amid production cuts. JFE and Posco (005490 KS) will likely benefit from the expected drop in China exports due to tightened supply, the report said. JFE rose 0.5 percent to 2,629 yen. Nippon Steel Corp. (5401 JT) gained 1.1 percent to 288 yen. Kobe Steel Ltd. (5406 JT) increased 1.3 percent to 197 yen.

Acrodea Inc. (3823 JT), a software developer, rallied 4.6 percent to 36,100 yen. FueTrek Co. (2468 JT) a large-scale integration developer, said it will buy a 2.7 percent stake in Acrodea. FueTrek rose 0.6 percent to 87,000 yen.

Aeon Credit Service Co. (8570 JT), a credit-card company, slipped 2.8 percent to 938 yen. First-half operating profit at Aeon Credit fell 2.2 percent to 8.51 billion yen ($101 million) on falling revenue.

Asahi Co. (3333 JT), a bicycle retailer, gained 3.2 percent to 1,197 yen. The company was boosted to “outperform” from “neutral” by Yukinori Oishi, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

Daihatsu Motor Co. (7262 JT), a unit of Toyota Motor Corp. (7203 JT), climbed 3.2 percent to 1,100 yen after the companies said in a joint statement they will hold a news conference today to announce a business collaboration. Toyota will enter the mini-car market by selling cars made by Daihatsu, the Nikkei newspaper reported. The cars will be sold under the Toyota name, the report said. Toyota slid 0.7 percent to 3,075 yen.

Izumiya Co. (8266 JT), a supermarket operator, declined 5.3 percent to 304 yen, the lowest since at least September 1978. The retailer slashed its full-year net income forecast by 75 percent to 200 million yen.

Kayaba Industry Co. (7242 JT), a maker of hydraulic equipment, jumped 5.9 percent to 459 yen, the highest close since July 2008. The company was raised to “positive” from “neutral plus” by Satoru Takada, an analyst at Tokyo-based Toward the Infinite World Inc.

Orient Corp. (8585 JT), a consumer-credit company, leapt 5.2 percent to 61 yen. The company more than doubled its first- half net-income forecast to 5.9 billion yen, citing lower costs related to bad loans. The company cut its full-year net income projection by 5.6 percent to 10.2 billion yen with less-than- expected revenue.

Sumitomo Seika Chemicals Co. (4008 JT), a maker of chemical products, advanced 2.7 percent to 339 yen. The company raised its full-year net income forecast by 22 percent to 2.2 billion yen.

Taiyo Yuden Co. (6976 JT), a maker of electronic components, slid 2 percent to 1,022 yen. The company plans to reduce staff in its recording-media unit by 45 percent as demand shrinks for data-storage CDs and DVDs. It expects a net loss of 2.8 billion yen in the six months ending Sept. 30, compared with a previous estimate for net income of 4.5 billion yen, according to a statement.

Takefuji Corp. (8564 JT), Japan’s third-largest consumer lender, plunged by 32 percent to 116 yen after being untraded since Sept. 24. Takefuji will file for bankruptcy protection today, according to a person with direct knowledge of the matter. The Tokyo Stock Exchange placed the stock on watch for possible delisting. Takefuji’s rating was cut to CC from CCC- by Standard & Poor’s. The outlook for the rating is negative, S&P said in a statement.

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

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

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