Japan Stocks: Fast Retailing, Kobe Steel, Konami, Ricoh, Toray
Japan’s Nikkei 225 Stock Average fell 26, or 0.3 percent, to 10,431.36 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.
Smart-grid-related companies: Japanese utility companies will start introducing next-generation power meters from 2012, the Nikkei newspaper reported without citing anyone. Osaki Electric Co. (6644 JT), a maker of electricity meters for power companies, surged 6.2 percent to 822 yen, the biggest gain since May 27. Fuji Electric Holdings Co. (6504 JT), which formed a meter-design and manufacturing venture with General Electric Co. (GE US), rose 1.9 percent to 276 yen.
ABC-Mart Inc. (2670 JT), a shoe retailer, climbed 4.4 percent to 3,200 yen. The company said same-store sales rose 5.4 percent in January from a year earlier, as customer traffic increased 6.1 percent.
Acom Co. (8572 JT), Japan’s largest consumer lender, declined 6.8 percent to 1,453 yen. The company said claims for reimbursement of overcharged interest rose to 13,100 in December from 12,900 in November.
Brother Industries Ltd. (6448 JT), an office-equipment maker, gained 2.4 percent to 1,309 yen, the highest close since August 2008. The company raised its full-year net income forecast 17 percent to 28 billion yen ($343 million).
Daicel Chemical Industries Ltd. (4202 JT), a chemical maker, sank 3.6 percent to 571 yen. The company’s net income for the three months ended Dec. 31 fell to 3.89 billion yen from 6.27 billion yen a year ago.
Fast Retailing Co. (9983 JT), Asia’s biggest clothing chain, advanced 3.8 percent to 12,710 yen. The company said sales at its Uniqlo stores in Japan rose for the first time in six months as its Heattech thermal underwear and other winter items drew shoppers.
Heiwa Corp. (6412 JT), a maker of pachinko machines, leapt 7 percent to 1,355 yen, the highest close since October 2007. The company offered to buy back as much as 16 percent of its shares for 1,107 yen a share. The company raised its full-year net income forecast 27 percent after pachinko-machine sales increased.
Itochu Techno-Solutions Corp. (4739 JT), a computer- network-systems developer, fell 2.8 percent to 2,916 yen. The company cut full-year net income forecast 9.6 percent to 11.3 billion yen.
Kobe Steel Ltd. (5406 JT), a steelmaker, advanced 3.9 percent to 216 yen, the biggest gain since July 28. The company said net income more than doubled to 17.7 billion yen in the three months to Dec. 31, from 7.4 billion yen a year earlier.
Konami Corp. (9766 JT), a video-game developer, plunged 7.8 percent to 1,564 yen, falling the most since August 2009. The company reported a 9.5 percent drop in net income to 9.62 billion yen for the nine months to Dec. 31 as sales fell.
Osaka Titanium Technologies Co. (5726 JT), a titanium smelter, leapt 4.4 percent to 5,120 yen, the highest close since August 2008. The company had its 12-month share price estimate increased to 6,010 yen from 4,940 yen at Nomura Holdings Inc.
Panasonic Corp. (6752 JT), the world’s largest maker of plasma televisions, lost 3.2 percent to 1,090 yen. The company reported profit that missed analysts’ estimates after falling prices extended losses at the main TV operations.
Ricoh Co. (7752 JT), a maker of office equipment, tumbled 9.9 percent to 1,052 yen, falling the most since November 2008. The company posted 7.8 billion yen for the October-December period, down from 12.6 billion yen a year ago. JPMorgan Chase & Co. cut its rating on the company to “underweight” from “neutral.”
SKY Perfect JSAT Holdings Inc. (9412 JT), a satellite broadcaster, retreated 4.1 percent to 30,400 yen. The company’s net income for the nine months ended Dec. 31 declined 54 percent to 2.69 billion yen.
Sumitomo Chemical Co. (4005 JT), a maker of chemical products, rose 3.2 percent to 451 yen, the highest close since April 27. The company’s net income for the nine months to Dec. 31 jumped to 14.1 billion yen from 1.23 billion yen a year ago.
Toray Industries Inc. (3402 JT), a textile maker, climbed 3.8 percent to 573 yen, a level not seen since July 2008. The company boosted its net income forecast for the year ending March 31 by 29 percent to 54 billion yen.
Toshiba Machine Co. (6104 JT), an industrial machinery maker, jumped 4.4 percent to 498 yen, a level not seen since August 2008. The company was raised to “outperform” from “neutral” at Mitsubishi UFJ Morgan Stanley Securities Co.
Toyota Boshoku Corp. (3116 JT), a parts affiliate of Toyota Motor Corp. (7203 JT), tumbled 5.3 percent to 1,395 yen, the steepest decline since June 1. Toyota Boshoku booked 900 million yen in net income for the three months ended Dec. 31, down from a 6.54 billion yen profit a year ago. Toyota dropped 1.2 percent to 3,440 yen.
Yamaha Corp. (7951 JT), a manufacturer of musical instruments, rose 3.4 percent to 1,126 yen, the highest close since April 30. The company boosted its full-year net income forecast 30 percent to 6.5 billion yen, and said it will buy back as much as 0.5 percent of its shares.
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