Japan Stocks: Astellas, Honda, Noritz, Sumitomo Osaka Cement
Japan’s Nikkei 225 Stock Average rose 41.28, or 0.4 percent, to 10,849.57 as of the 11 a.m. trading break in Tokyo. The following were among the most-active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Astellas Pharma Inc. (4503 JT), Japan’s second-biggest drugmaker, rose 1.5 percent to 3,315 yen. The company will pay Aveo Pharmaceuticals Inc. as much as $1.3 billion for the rights to develop and sell an experimental cancer drug in markets outside of Asia, the companies said.
GS Yuasa Corp. (6674 JT), a battery maker, fell 2.1 percent to 604 yen. The company was cut to “neutral” from “outperform” by Credit Suisse Group AG on Feb. 16.
Honda Motor Co. (7267 JT), Japan’s second-largest carmaker by sales, increased 2.3 percent to 3,740 yen. The company may buy back 40 billion yen of its shares, according to spokeswoman Akemi Ando.
Ibiden Co. (4062 JT), a maker of ceramics, building materials and electronics, gained 2.9 percent to 2,798 yen. The company will open a new plant Malaysia to make mobile-phone components on expectations global demand for smartphones will grow, the Nikkei newspaper reported.
Inpex Corp. (1605 JT), Japan’s biggest energy explorer, gained 1.8 percent to 572,000 yen. The company’s share price target was raised to 740,000 yen from 640,000 yen by Nomura Holdings Inc. The investment rating was maintained at “buy.”
NHK Spring Co. (5991 JT), the autoparts maker, advanced 2.9 percent to 1,021 yen. The stock was raised to “neutral” from “underweight” by JPMorgan Chase & Co. The share price target was also increased to 1,080 yen from 800 yen.
Noritz Corp. (5943 JT), a maker of gas-fired baths and water heaters, jumped 5.2 percent to 1,446 yen. The share price target was raised to 1,900 yen from 1,700 yen by Deutsche Bank AG. The investment rating was kept unchanged at “buy.”
Okuma Corp. (6103 JT), the machine-tool maker, advanced 2.2 percent to 785 yen. The company was raised to “positive” from “neutral plus” by Naruhiko Takatsuji, an analyst at Tokyo- based Toward the Infinite World Inc.
Sumitomo Osaka Cement Co. (5232 JT), which makes cement as well as materials for cosmetics, jumped 5.1 percent to 225 yen. The company’s share price estimate was raised to 240 yen from 220 yen by Mizuho Securities Co. The investment rating was maintained at “outperform.”
To contact the editor responsible for this story: Nick Gentle at email@example.com.