Japan Stocks: Daikin, Dowa, Secom, Toyota, Yokogawa Electric

Japan’s Nikkei 225 Stock Average fell 18.15, or 0.2 percent, to 10,617.83 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.

Daikin Industries Ltd. (6367 JT), Japan’s largest air- conditioner maker, fell 3.1 percent to 2,837 yen. The company said nine-month net income fell 38 percent to 11.8 billion yen ($143 million), while operating profit in the period jumped 53 percent.

Dowa Holdings Co. (5714 JT), a metal-products smelter, slumped 5.9 percent to 586 yen, the sharpest fall since November 2009. UBS AG reduced the investment rating for Dowa to “neutral” from “buy,” and JPMorgan Chase & Co. cut the rating to “underweight” from “neutral.”

Ferrotec Corp. (6890 JQ), a semiconductor-equipment maker, rallied 6.4 percent to 1,445 yen, the highest since November 2008. The company raised its full-year net income outlook 39 percent to 3.2 billion yen, citing benefits from more-than- expected demands of silicon products used for solar batteries.

Mitsubishi Materials Corp. (5711 JT), Japan’s third-largest copper producer, slipped 2.5 percent to 270 yen. The company slashed its full-year net income outlook 44 percent to 10 billion yen.

Nippon Shokubai Co. (4114 JT), a chemicals maker, gained 4.1 percent to 974 yen, the highest since January 2008. The company boosted its full-year net income forecast 23 percent to 19 billion yen on emerging-market demand.

Nippon Signal Co. (6741 JT), a traffic signal maker, tumbled 6.3 percent to 665 yen, the largest drop since April 2009. The company cut its full-year net income projection 27 percent to 2.4 billion yen, citing production delays from its operation system malfunctions and the related extraordinary costs.

Pixela Corp. (6731 JT), a maker of graphics software for image editing, surged by its upper daily limit of 80 yen, or 30 percent, to 345 yen, the biggest gain since September 2009. The company more than doubled its full-year net income outlook to 360 million yen from 170 million yen on sales growth.

Santen Pharmaceutical Co. (4536 JO), a maker of ophthalmic medicines, rose 3.9 percent to 3,075 yen, the sharpest advance since November 2009. The company plans to raise about 5.64 billion yen by selling treasury shares to the state-backed Development Bank of Japan, according to a filing with the nation’s finance ministry.

Secom Co. (9735 JT), a provider of security services, increased 3.2 percent to 4,155 yen, the highest since July 15. The company said nine-month net income rose 20 percent to 47.8 billion yen. The company plans to buy out Secom Techno Service Co. (1742 JT), a security system constructor, for as much as 14.6 billion yen through a tender offer. Secom Techno Service soared by its daily limit of 500 yen, or 18 percent, to 3,295 yen, the steepest advance since its listing of Oct. 15, 1999.

SMC Corp. (6273 JT), a maker of directional-control devices, retreated 3.8 percent to 14,180 yen. The company was cut to “equal-weight” from “overweight” by Tsutomu Kijima, an analyst at Barclays Capital in Tokyo.

Sumitomo Realty & Development Co. (8830 JT), Japan’s third- largest developer by market value, slid 2.8 percent to 2,013 yen. The company said nine-month profit fell 6 percent as rental income declined after the company’s vacancy rate rose to the highest since at least 2004 in September.

Toyota Motor Corp. (7203 JT), the world’s largest automaker, jumped 5.2 percent to 3,670 yen, the biggest gain since December 2009. The company raised its full-year profit forecast as sales in emerging markets exceeded the company’s estimates. Separately, a U.S. investigation found unintended acceleration in Toyota vehicles was rooted in mechanical flaws rather than electronic defects.

Yokogawa Electric Corp. (6841 JT), a maker of electronic measuring tools, plunged 11 percent to 662 yen, the steepest drop since May 2009. The company said it will not pay a dividend for this fiscal year. Yokogawa paid a dividend of 2 yen per share a year earlier. Also, Yokogawa Electric said it will separate its semiconductor-tester division into a wholly owned subsidiary and reduce the number of employees at the unit to 180 from 300.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; Kana Nishizawa in Tokyo at knishizawa5@bloomberg.net.

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

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