Hitachi Chemical, Honda, Nomura, NSK, Osaka Gas, Seiko Epson: Japan Stocks

Japan’s Nikkei 225 Stock Average fell 47.73, or 0.5 percent, to 9,154.72 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.

Acom Co. (8572 JT), Japan’s largest consumer lender by market value, fell for a second day, tumbling 11 percent to 819 yen, the lowest since at least December 1994, after saying in a preliminary earnings statement it had a first-half net loss of 43.9 billion yen ($544 million) as costs to repay overcharged interest rose. Acom also said it won’t pay a dividend for this fiscal year. The company paid a 10 yen dividend a year earlier. It made those announcements before the market closed on Oct. 29.

Can Do Co. (2698 JT), a discount retailer, plunged by its daily limit of 15,000 yen, or 16 percent, to 77,700 yen, its biggest drop since at least December 2003. The company plans to raise as much as 720 million yen in a public share sale, according to a filing with the nation’s finance ministry.

Comsys Holdings Corp. (1721 JT), a telecommunication- systems company, gained 3.8 percent to 742 yen. The company said it will repurchase as much as 3.6 percent of its total shares. It also raised its full-year net income forecast by 38 percent to 10.1 billion yen.

Dainippon Screen Manufacturing Co. (7735 JT), a maker of chip equipment, rose 2.2 percent to 468 yen. The company will sell its entire stake in Semes Co. to Samsung Electronics Co. (005930 KS) for 52.2 billion won ($46 million), ending its venture with the Korean electronics company. Also, Dainippon Screen said in a preliminary earnings statement first-half net income was 9.5 billion yen, beating its estimate by 42 percent.

Hitachi Chemical Co. (4217 JT), a chemical maker, plummeted 8.5 percent to 1,368 yen, the biggest drop since December 2008. The company cut its full-year net income forecast by 5.4 percent to 26.5 billion yen.

Honda Motor Co. (7267 JT), Japan’s second-largest carmaker, fell 5 percent to 2,789 yen, the largest slip since July 2009, after the company lowered its second-half earnings forecast.

Hosiden Corp. (6804 JO), a maker of electronic components, lost 6.6 percent to 745 yen, the lowest since April 2003, after slashing its full-year net income estimate by 60 percent to 2 billion yen, citing less-than-expected sales and the stronger yen.

House Foods Corp. (2810 JT), a food processor, advanced 4 percent to 1,236 yen, the steepest advance since August 2009. The company said it will buy back up to 2.7 percent of its shares and said first-half net income dropped 20 percent to 3.08 billion yen.

Kurita Water Industries Ltd. (6370 JT), a maker of water- treatment equipment, rallied 6.8 percent to 2,235 yen, the steepest advance since September 2009. Kurita Water said first- half operating profit rose 4.1 percent to 13.4 billion yen. That was 9.9 percent above the company’s estimate. Kurita also said it will buy back up to 1.94 percent of its total shares.

Meidensha Corp. (6508 JT), an electrical machinery maker, soared 9.8 percent to 315 yen, the biggest gain since September 2009. The company tripled its full-year net income estimate to 1.5 billion yen, citing a recovery in demand and reductions in fixed costs.

Nomura Holdings Inc. (8604 JT), Japan’s biggest brokerage, retreated 5 percent to 397 yen, the lowest since October 1982. The company said profit plunged 96 percent in the second quarter, hurt by declines in trading and brokerage commissions.

Noritz Corp. (5943 JT), a maker of gas-fired baths and water heaters, tumbled 14 percent to 1,271 yen, the largest decline since May 1992. Noritz said third-quarter operating profit fell to 441 million yen from 629 million yen, dragged down by higher sales-and-administration costs.

NSK Ltd. (6471 JT), a bearing maker, leapt 6.6 percent to 650 yen, the biggest advance since June 2009. The company increased its full-year net income projection to 22.5 billion yen from 21 billion yen.

Sharp Corp. (6753 JT), Japan’s largest maker of liquid- crystal displays, lost 5.4 percent to 752 yen, the lowest close since March 2009. Deutsche Bank AG cut its target price on Sharp to 730 yen from 750 yen, while keeping its “sell” rating. Shares of Sharp extended their drop after the company said on Oct. 28 it expects annual net income of 30 billion yen, 40 percent below its previous estimate. It cited the stronger yen and falling prices of panels.

Sumitomo Forestry Co. (1911 JO), a homebuilder and lumber distributor, gained 5.4 percent to 628 yen, the sharpest gain since Jan. 4. The company raised its full-year net income projection 25 percent to 7.5 billion yen, citing higher sales.

Yamatake Co. (6845 JT), an electronics parts maker, sank 7.9 percent to 1,805 yen, the largest decline since November 2008, after cutting its full-year net income forecast 14 percent to 8.2 billion yen.

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.

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.