Japan Stocks: Fast Retailing, GS Yuasa, Nintendo, Tepco

Japan’s Nikkei 225 (NKY) Stock Average rose 177.15, or 1.9 percent, to 9,768.08 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.

Chiyoda Co. (8185 JT), a specialty retailer, soared 14 percent to 1,155 yen, the biggest gain since August 2002. The company said full-year net income totaled 1.05 billion yen ($12 million), more than double its estimate of 453 million yen, citing lower costs related personnel and rents in a preliminary earnings statement.

Fast Retailing Co. (9983 JT), operator of the Uniqlo casual-clothing chain, rallied 7.3 percent to 11,940 yen. The retailer raised its full-year net income forecast by 18 percent to 60 billion yen on overseas growth and lower costs. Also, Fast Retailing said it will form a venture with Mitsubishi Corp. (8058) (8058 JT) to operate Uniqlo clothing stores in Thailand. Mitsubishi rose 1.5 percent to 2,309 yen.

Fuji Electronics Co. (9883 JT), a trader of electronic components, surged 13 percent to 1,314 yen, the sharpest advance since April 2010. The company said it expects net income to rise 8.2 percent to 2.4 billion yen this fiscal year on a 17 percent increase in sales.

Fullcast Technology Co. (2458 JQ), surged by its upper daily limit of 4,000 yen, or 21 percent, to 23,500 yen. Yumeshin Holdings Co. (2362 JQ), a provider of temporary workers, soared 11 percent to 117 yen. Yumeshin will acquire Fullcast Technology, the Nikkei newspaper reported. Yumeshin may pay as much as 2 billion yen for Fullcast, which supplies engineers to clients on an as-needed basis, the report said.

GS Yuasa Corp. (6674) (6674 JT), a battery maker, rallied 6.4 percent to 563 yen, the sharpest rise since Sept. 1. The company will supply lithium-ion batteries to PSA Peugeot Citroen (UG FP), the Nikkei newspaper reported.

Izumi Co. (8273 JT), a shopping-center operator, jumped 6.7 percent to 1,250 yen after posting a 14 percent gain in full-year net income to 9.94 billion yen and saying it will retire 12.69 percent of its outstanding shares on May 31.

Mimasu Semiconductor Industry Co. (8155 JT), a maker of semiconductor materials, jumped 4.6 percent to 841 yen after saying nine-month net income advanced to 1.86 billion yen from 347 million yen a year earlier on a 17 percent rise in sales.

Nintendo Co. (7974 JO), the world’s largest maker of handheld video-game players, dropped 2 percent to 20,600 yen. The company had its stock price estimate lowered to 23,000 yen from 24,000 yen by Haruka Mori, an analyst at Barclays Capital in Tokyo.

Sanix Inc. (4651) (4651 JT), a sanitation-services provider, rallied 12 percent to 223 yen. The company said March sales jumped 17 percent to 3.35 billion yen from the same month a year earlier.

Toho Zinc Co. (5707 JT), Japan’s third-biggest producer of the metal, climbed 2.3 percent to 395 yen. The company said it will increase production of refined lead by 2 percent in the first half of the fiscal year.

Tokyo Electric Power Co. (9501 JT), Asia’s largest utility, known as Tepco, soared by its daily limit of 80 yen, or 24 percent, to 420 yen. The company expects to boost generating capacity to 50 million kilowatts by Japan’s summer, the Yomiuri newspaper reported on its website. Separately, Tepco told reporters that it has found no unusual parameters for water level, pressure and other operations at the No. 3 and No. 4 reactors at its Fukushima Dai-Ichi nuclear power plant after an earthquake late yesterday.

Toyo Electric Manufacturing Co. (6505 JT), an electrical equipment maker, gained 4.5 percent to 375 yen. The company had a return to nine-month net income of 425 million yen from a year-earlier loss on an 18 percent gain in sales.

TV Asahi Corp. (9409) (9409 JT), a TV broadcaster, rose 3.6 percent to 128,900 yen. The company was rated “outperform” in new coverage by Hirotoshi Murakami, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.

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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