Acom, Aiful, Best Bridal, Maspro Denkoh, NTT Urban, Promise: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 30.41, or 0.3 percent, to 9,797.10 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.
Consumer lenders: Acom Co. (8572 JT), Aiful Corp. (8515 JT) and Promise Co. (8574 JT) had their investment ratings increased to “buy” from “neutral” by Nomura Holdings Inc. Acom rose 3.9 percent to 997 yen. Aiful jumped 6.3 percent to 85 yen. Promise rallied 7.2 percent to 539 yen.
Best Bridal Inc. (2418 JT), a wedding-service provider, surged 12 percent, to 82,900 yen, the steepest advance since April 2009. The Tokyo Stock Exchange approved the company to move to the bourse’s first or second section from the current Mothers section as of Dec. 8, Best Bridal said in a release. The company said President Masayuki Tsukada will sell 32,500 shares in the company to the public.
Daiken Corp. (7905 JT), a maker of housing materials, leapt 6.3 percent to 203 yen. The company will buy back as much as 0.79 percent of its outstanding shares.
Edion Corp. (2730 JT), an operator of electronics retail chains, slumped 3.7 percent to 643 yen. The retailer was investigated by Japan’s Fair Trade Commission on suspicion of violation of the anti-monopoly law, Edion said today in a release.
Gakken Holdings Co. (9470 JT), a publisher of educational books and magazines, soared 9.9 percent to 156 yen, the sharpest advance since August 2009. The company said it expects net income to about triple to 900 million yen ($10.8 million) this fiscal year as it withdraws from its unprofitable operations. The company earned 305 million yen a year earlier.
Hokuhoku Financial Group Inc. (8377 JT), a regional bank, sank 5.7 percent to 150 yen, the sharpest decline since July 2009. The lender said it expects net income of 17.5 billion yen for this fiscal year. That is below the mean estimate of 18.4 billion yen in a Bloomberg survey of four analysts.
Maspro Denkoh Corp. (6749 JT), a maker of television antennas, plunged 15 percent to 650 yen, the biggest drop and the lowest close since listing on the Tokyo bourse in March 1997. Denso Corp. (6902 JT), an auto-parts maker, said it will sell its entire 7.16 percent stake in Maspro Denkoh to cancel a capital alliance. Denso was little changed at 2,648 yen.
Nihon Nohyaku Co. (4997 JT), an insecticide and fungicide maker, tumbled 8.9 percent to 399 yen, the steepest decline since Nov. 19, 2009. The company said it expects a 13 percent drop in net income to 1.4 billion yen this fiscal year.
NTT Urban Development Corp. (8933 JT), a property developer, gained 3.3 percent to 75,700 yen. Mitsubishi UFJ Morgan Stanley Securities Co. raised its rating on NTT Urban to “outperform” from “neutral.”
Taiyo Nippon Sanso Corp. (4091 JT), a producer of industrial gases and frozen foods, slid 3.5 percent to 666 yen. Credit Suisse Group AG cut its investment rating on Taiyo Nippon Sanso to “neutral” from “outperform.”
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