Japan’s Nikkei 225 (NKY) Stock Average rose 101.12, or 1.1 percent, to 9,536.13 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.
Arisawa Manufacturing Co. (5208 JT), a processor of industrial materials, slumped 9.8 percent to 379 yen. The company widened its full-year net loss forecast to 2.16 billion yen ($27 million) from 50 million yen, citing writedowns and foreign-exchanges losses.
Celsys Inc. (3829) (3829 JT), a software maker, plunged 13 percent to 97,200 yen. The company said it plans to raise as much as 358.7 million yen by selling shares to the public.
Godo Steel Ltd. (5410) (5410 JT), a maker of steel products, jumped 9.1 percent to 192 yen. The company raised its full-year operating profit outlook to 400 million yen from break-even.
Hino Motors Ltd. (7205) (7205 JT), an auto-making affiliate of Toyota Motor Corp. (7203) (7203 JT), slid 2.3 percent to 387 yen. The carmaker said it will halt the production of Toyota vehicles until April 1. Toyota rose 1.9 percent to 3,275 yen.
J. Front Retailing Co. (3086 JT), an operator of department stores and supermarkets, leapt 3.1 percent to 334 yen. Citigroup Inc. initiated coverage of the retailer at “buy.”
Komatsu Ltd. (6301) (6301 JT), Japan’s largest construction machinery maker, gained 4.7 percent to 2,795 yen, the highest since July 2008. Deutsche Bank AG increased its stock price estimate for Komatsu to 3,000 yen from 2,900 yen, leaving the “buy” rating unchanged.
NEC Corp. (6701) (6701 JT), Japan’s biggest maker of personal computers, lost 5.5 percent to 171 yen. The company said it won’t pay a full-year dividend, citing expected losses from the March 11 earthquake. NEC paid a dividend of 4 yen per share a year earlier.
Nippon Telegraph & Telephone Corp. (9432) (9432 JT), Japan’s largest maker of phone-network equipment, rose 2.2 percent to 3,755 yen. NTT Group says its companies have been steadily restoring services centered in Japan’s Tohoku region that were disrupted by a March 11 earthquake.
Seikagaku Corp. (4548) (4548 JT), a maker of materials used for pharmaceutical products, soared 9.8 percent to 1,047 yen, the largest rise since October 2008. The company said the U.S. Food and Drug Administration approved its medical device Gel-One, a single injection Hyaluronic Acid treatment for osteoarthritis pain of the knee. Nomura Holdings Inc. raised the rating for Seikagaku to “buy” from “neutral.”
Sony Corp. (6758) (6758 JT), Japan’s biggest exporter of consumer electronics, advanced 3.3 percent to 2,634 yen. The company was boosted to “buy” from “hold” by Yasuo Nakane, a Tokyo-based analyst at Deutsche Bank AG.
Sumco Corp. (3436) (3436 JT), a maker of silicon wafers for semiconductors, rallied 5.2 percent to 1,507 yen. The company was raised to “outperform” from “neutral” by Yukihiko Fukunaga, an analyst at Tachibana Securities Co.
Tokyo Electric Power Co. (9501 JT), Asia’s largest utility, sank 6.2 percent to 846 yen. Japan’s Nuclear and Industrial Safety Agency ordered the utility to improve radiation monitoring at the Fukushima Dai-Ichi nuclear plant after three workers were exposed to radiation yesterday. The workers were contaminated after stepping in water with radiation levels 10,000 higher than water used in reactor cooling, Hidehiko Nishiyama, a spokesman for the agency, said at a briefing today.
Toyo Kanetsu K.K. (6369 JT), a maker of liquefied natural gas tanks, soared 8.5 percent to 217 yen, the highest since August 2008. The government and Tokyo Electric Power Co. will construct LNG thermal power plants to minimize rolling blackouts this winter, the Nikkei newspaper reported. The government will also seek more LNG imports from overseas, the report said.
Unihair Co. (8170 JT), a wig-maker, increased 2.3 percent to 934 yen. The company said it plans to cut 400 jobs by offering buyout packages.
VT Holdings Co. (7593 JX), which sells automobiles produced by Honda Motor Co. (7267 JT), surged 27 percent to 286 yen, the steepest gain since July 2009. The company raised its full-year net income outlook 13 percent to 2.6 billion yen, a record. The company doubled its planned second-half dividend to 10 yen. Honda slid 1.1 percent to 2,978 yen.
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