Citizen, Inpex, Mitsui O.S.K., Nintendo, Tokyo Electric: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 64.71, or 0.7 percent, to 9,494.67 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Asahi Holdings Inc. (5857 JT), a metal recycler, rose 2.6 percent to 1,950 yen. The company boosted its full-year net income forecast 12 percent to 5.8 billion yen ($69 million) with increased sales.

Daikin Industries Ltd. (6367 JT), an air-conditioner maker, gained 2.8 percent to 3,180 yen, extending yesterday’s 2.5 percent increase. The company was rated “outperform” in new coverage by Teruo Isozaki, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

GMO Internet Inc. (9449 JT), which provides Internet- related services, jumped 3.2 percent to 288 yen. The company said it will buy a 36.9 percent stake in Click Securities Inc., a Japanese online brokerage, for 5.27 billion yen.

Gulliver International Co. (7599 JT), a used-car dealer, rallied 2.6 percent to 4,315 yen. The company more than doubled its full-year net income forecast to 4.7 billion yen from 1.9 billion yen, citing lower marketing costs and gains from a sale of shares.

Inpex Corp. (1605 JT), Japan’s biggest energy explorer, sank 3.3 percent to 394,500 yen. The company is exiting the Azadegan oil field development project in Iran because of U.S. pressure, Nikkei English News reported, without saying where it got the information.

Mitsui O.S.K. Lines Ltd. (9104 JT), Japan’s second-largest shipping line, fell 2.7 percent to 532 yen. The company had its rating reduced to “hold” from “buy” at Citigroup Global Markets Japan Inc.

Nintendo Co. (7974 JO), the world’s biggest maker of portable video-game players, tumbled 9.2 percent to 20,890 yen, set for the steepest drop since January 2009. The company cut its full-year net income forecast to 90 billion yen from 200 billion yen, citing the strong yen and the outlook for year-end sales.

Parts suppliers also declined. Mitsumi Electric Co. (6767 JT) plunged 6.1 percent to 1,295 yen. Hosiden Corp. (6804 JO) slumped 7.1 percent to 799 yen, headed for the biggest decline since April 2009. Megachips Corp. (6875 JT) retreated 4.8 percent to 1,437 yen.

Ricoh Leasing Co. (8566 JT), which leases industrial machinery, advanced 1.9 percent to 2,069 yen. The company increased its full-year net income forecast 18 percent to 8.11 billion yen.

Tokyo Electric Power Co. (9501 JT), a power utility, dropped 3.5 percent to 2,031 yen, on course for the lowest close since December 2002. The company plans to raise as much as 555 billion yen by selling shares to the public, according to a filing with Japan’s finance ministry.

Tsubakimoto Chain Co. (6371 JT), a maker of power transmission equipment, gained 3.5 percent to 351 yen. The company had its rating raised to “neutral plus” from “neutral” at Toward the Infinite World Inc.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

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

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