Japan Stocks: Acom, Asahi Glass, Elpida, Sumitomo, Toyota

Japan’s Nikkei 225 Stock Average rose 51.01, or 0.5 percent, to 9,988.05 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.

Chip-related firms: Elpida Memory Inc. (6665 JT), the world’s third-largest maker of computer-memory chips, tumbled 6.2 percent to 935 yen. Renesas Electronics Corp. (6723 JT), a semiconductor maker, lost 3.6 percent to 785 yen. Sumco Corp. (3436 JT), a maker of silicon wafers for semiconductors, fell 1.8 percent to 1,302 yen.

“The risk of excess PC inventory in China is a new concern,” Credit Suisse Group AG said in a sector report of semiconductor and semiconductor manufacturing equipment.

1st Holdings Inc. (3644 JQ), a software developer, fell to 558 yen from its initial offering price of 630 yen. The company started trading on the Osaka Securities Exchange’s Jasdaq Standard market.

Acom Co. (8572 JT), a consumer lender, slumped 2.9 percent to 951 yen. The company was removed from the MSCI Japan Index yesterday.

Adways Co. (2489 JT), a provider of Internet marketing services, soared 8.7 percent to 85,900 yen. The company said it will buy back up to 5 percent of its shares.

Asahi Glass Co. (5201 JT) lost 3 percent to 905 yen and Nippon Electric Glass Co. (5214 JT) fell 3.2 percent to 1,138 yen. Goldman Sachs Group Inc. cut its investment rating on Asahi Glass to “sell” from “neutral” and lowered the rating on Nippon Electric to “neutral” from “buy,” citing growing concerns of LCD glass oversupply.

Nippon Sheet Glass Co. (5202 JT) also declined 2.6 percent to 191 yen.

E-Guardian Inc. (6050 JT), a provider of Internet- monitoring services, rose to 2,700 yen from its initial offering price of 1,300 yen. The company started trading on the Tokyo Stock Exchange’s Mothers market.

Harima Chemicals Inc. (4410 JT), an industrial oil solution marketer, leapt 3.2 percent to 486 yen. Harima Chemicals and Mitsubishi Corp. (8058 JT) will spend $120 million to acquire Momentive Specialty Chemicals Inc.’s (HXN US) resin operations. Mitsubishi and Harima will form a venture to operate the business, with Harima taking a stake of 90 percent or more. Harima made the announcement in a release. Mitsubishi rose 0.9 percent to 2,134 yen.

Rakuten Inc. (4755 JQ), an online shopping provider, gained 3.9 percent to 66,600 yen. All Nippon Airways Co. (9202 JT), Asia’s largest listed carrier by sales, and Rakuten expanded their travel business alliance to include international services. The companies will let travelers select hotels and flights in package tours and the international service begins today, the companies said in a statement. All Nippon rose 0.3 percent to 297 yen.

Ryoyo Electro Corp. (8068 JT), an electronic-components wholesaler, increased 3 percent to 838 yen. The company boosted its full-year net income outlook 10 percent to 1.1 billion yen.

Sumitomo Corp. (8053 JT), a trading house, rallied 3.7 percent to 1,132 yen. The company has agreed to acquire a 29 percent stake in drugmaker C&O Pharmaceutical Technology Holdings Ltd. (COPT SP) for about S$96.2 million, according to a statement to the Singapore exchange.

Toyohira Steel Corp. (5450 JS), a steel products maker, surged 31 percent to 184 yen, the steepest rise since November 2000. JFE Holdings Inc. (5411 JT), Japan’s second-largest steelmaker, will pay 0.071 of a share for each share of Toyohira Steel to make the unit wholly owned, Toyohira said in a release. JFE slid 0.5 percent to 2,647 yen.

Toyota Motor Corp. (7203 JT), the world’s largest carmaker, advanced 2.8 percent to 3,310 yen. The automaker will assemble plug-in hybrid cars in China starting in 2012 with its partner there, China FAW Group Corp., Nikkei English News reported.

Toyota Tsusho Corp. (8015 JT), a trading company, rose 2 percent to 1,386 yen. The company won Taiwan’s government approval to invest NT$1.75 billion in Greencol Taiwan Corp., a chemical venture, the island’s Ministry of Economic Affairs said in a statement on its website.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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