Japan Stocks: Hitachi Koki, Nippon Building, Sumitomo Metal, Suzuki Motor

Japan’s Nikkei 225 Stock Average rose 172.67, or 1.8 percent, to 9,691.43 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.

BOJ impact: Japanese real-estate investment trusts and developers rose for a second day after the Bank of Japan said it will set up a fund to buy government debt and other assets including REITs to boost the economy. Nippon Building Fund Inc. (8951 JT) jumped 5.2 percent to 814,000 yen. Japan Real Estate Investment Corp. (8952 JT) leapt 6.4 percent to 838,000 yen. Japan Retail Fund Investment Corp. (8953 JT) rose 3.8 percent to 124,700 yen.

Mitsubishi Estate Co. (8802 JT) climbed 4.2 percent to 1,476 yen. Mitsui Fudosan Co. (8801 JT) gained 3.5 percent to 1,555 yen. Sumitomo Realty & Development Co. (8830 JT) jumped 5.2 percent to 1,841 yen. Tokyu Land Corp. (8815 JT) surged 7.4 percent to 378 yen. Tokyo Tatemono Co. (8804 JT) leapt 7.5 percent to 346 yen.

Hagihara Industries Inc. (7856 JT), a textile maker, dropped 2.4 percent to 954 yen. The company will sell new shares for 947 yen each to the public to raise as much as 522.8 million yen ($6.28 million), according to a filing with the nation’s finance ministry.

Hitachi Koki Co. (6581 JT), a maker of electric tools, plunged 6 percent to 693 yen, the steepest slide since March 2009. The company said a German subsidiary falsified earnings to cover up for excessive business investments. The company said it will determine the impact on earnings by Nov. 15, ahead of the announcement of fiscal second-quarter results.

Japan Electronics Materials Corp. (6855 JT), a semiconductor probe card maker, lost 1.2 percent to 483 yen, the lowest close since March 2009. Nomura Holdings Inc. cut its rating on the company to “neutral” from “buy.”

Kikkoman Corp. (2801 JT), a soy-sauce maker, gained 2.7 percent to 957 yen. The company may report a group operating profit of about 10 billion yen for the interim half ending Sept. 30, Nikkei English News reported, without saying how it got the information. That’s almost in line with the company’s forecast, according to the report.

Nomura Holdings Inc. (8604 JT), Japan’s largest brokerage, gained 6.9 percent to 435 yen. The company, which has increased its global workforce by almost half in two years, expanded U.S. equity trading and introduced stock research in New York to compete for a bigger market share in the Americas.

Ricoh Co. (7752 JT), a maker of office equipment, retreated 1.3 percent to 1,229 yen. The company had its rating cut to “equalweight” from “overweight” at Barclays Capital.

Sala Corp. (2734 JT), an energy-supply company, declined 2.4 percent to 486 yen. The company slashed its full-year net income outlook by 80 percent to 150 million yen, with less-than- expected sales. The company reported nine-month net income following a year-earlier loss.

Sumitomo Metal Mining Co. (5713 JT), Japan’s largest gold producer, leapt 7.2 percent to 1,411 yen, the largest increase since July 2009. Gold futures for December delivery rose to a record $1,342.60 an ounce in New York yesterday.

Suzuki Motor Corp. (7269 JT), an automaker, jumped 5.2 percent to 1,949 yen, rising the most since June 2009. The company will reduce engine production in Japan in response to the yen’s strength, the Asahi newspaper reported, without saying where it obtained the information. The company will cut production of engines for export and increase overseas output, the report said.

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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