Elpida, Izumi, Kose, Onward, Panasonic, Seven & I, Sharp: Japanese Stocks
Japan’s Nikkei 225 Stock Average fell 95.93, or 1 percent, to 9,588.88 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.
Daiichi Sankyo Co. (4568 JT), a drugmaker, rose 1.9 percent to 1,747 yen. The company may see group operating profit for the year increase 5 percent to more than 100 billion yen ($1.2 billion), Nikkei English News said, without saying where it got the information.
Fanuc Ltd. (6954 JT), an industrial robot maker, sank 1.8 percent to 10,650 yen. The company had its rating reduced to “neutral” from “outperform” at Macquarie Group Ltd.
Izumi Co. (8273 JT), a shopping-center operator, surged 6.4 percent to 1,160 yen. The company booked 4.82 billion yen in first-half net income, 4.2 percent more than a year earlier. Sales gained 1.6 percent.
Koito Manufacturing Co. (7276 JT), which makes lighting and other equipment for aircraft and cars, plunged 16 percent to 1,047 yen, the most since March 1992. The Bangkok Post said Thai Airways International Plc may seek $550 million in compensation from Koito Industries Ltd. (6747 JT), a seat-making unit, following delivery delays. Koito Industries retreated 3.3 percent to 145 yen, the lowest close since its listing in March 1988.
Kose Corp. (4922 JT), a cosmetics maker, gained 2.4 percent to 2,074 yen. Kose had its stock rating increased to “outperform” from “neutral” at Mitsubishi UFJ Morgan Stanley Securities Co.
Onward Holdings Co. (8016 JT), an apparel maker, dropped 3.3 percent to 623 yen. The company cut its full-year sales forecast by 2.7 percent to 243.3 billion yen.
Panasonic Corp. (6752 JT), the world’s biggest maker of plasma televisions, rallied 3.4 percent to 1,176 yen. The company said it withdrew its registration for a new share sale worth as much as 500 billion yen. Panasonic separately said it acquired 80.98 percent of Sanyo Electric Co. (6764 JT) and 83.93 percent of Panasonic Electric Works Co. (6991 JT) after recent tender offers. Sanyo was unchanged at 136 yen. Panasonic Electric sank 1.4 percent to 1,080 yen.
Seven & I Holdings Co. (3382 JT), operator of the 7-Eleven chain of convenience stores, dropped 3.7 percent to 1,975 yen. The company cut its full-year sales projection to 5.14 trillion yen from 5.2 trillion yen.
Shinsei Bank Ltd. (8303 JT) climbed 6.2 percent to 69 yen. The lender had its rating increased to “outperform” from “market perform” at Keefe, Bruyette & Woods.
Shiseido Co. (4911 JT), Japan’s largest cosmetics maker, fell 3.8 percent to 1,760 yen. The company’s share price estimate was cut to 2,000 yen from 2,300 yen at Mitsubishi UFJ Morgan Stanley Securities Co. and to 2,300 yen from 2,400 yen at Goldman Sachs Group Inc.
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