Japan Stocks: Dainippon Screen, Daito Trust, Sapporo
Stock Chart for Dainippon Screen Manufacturing Co Ltd (7735)
Japan’s Nikkei 225 (NKY) Stock Average rose 134.61, or 1.4 percent, to 9,575.64 at the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Intel impact: Semiconductor-related firms advanced after Intel Corp. (INTC) , the world’s biggest chipmaker, forecast second-quarter sales that may top analysts’ estimates. Dainippon Screen Manufacturing Co. (7735 JT) jumped 3.7 percent to 736 yen. Ibiden Co. (4062 JT) leapt 6.3 percent to 2,569 yen. Shinko Electric Industries Co. (6967 JT) surged 6.9 percent to 841 yen. Tokyo Electron Ltd. (8035) (8035 JT) climbed 3.8 percent to 4,465 yen. Toshiba Corp. (6502) (6502 JT) rose 4 percent to 417 yen.
Daito Trust Construct Co. (1878 JT), a developer, fell 3 percent to 6,200 yen. The company reported in a preliminary earnings statement it had full-year net income of 43.1 billion yen ($521 million), missing its forecast by 5.1 percent. The company cited delay in construction of buildings due to last month’s earthquake.
Hitachi Ltd. (6501) (6501 JT), an electronics and power-equipment company, increased 3.4 percent to 400 yen. The company will join a test in southwest England of technologies for distributing electricity from alternative sources over a power grid, the Nikkei newspaper reported.
Hogy Medical Co. (3593 JT), a maker of surgical tools, retreated 3 percent to 3,255 yen. The company said net income for the year ended March 31 fell 9.5 percent to 4.45 billion yen, missing its forecast by 12 percent. The company forecast the profit will drop 5.7 percent this year.
Itoham Foods Inc. (2284) (2284 JT), a producer of processed meat products, climbed 3.3 percent to 313 yen. The company said 289 employees applied for buyout packages this month. The company, which had aimed to cut 150 jobs, will book a 3 billion yen charge for the fiscal year ended March.
Sapporo Holdings Ltd. (2501) (2501 JT), a beverage maker, rallied 3.2 percent to 324 yen. The company’s beer shipments may return to pre-earthquake levels next month, the Nikkei newspaper reported, citing an interview with President Tsutomu Kamijo.
Yamato Kogyo Co. (5444 JT), a railway-track component maker and builder of electric steel furnaces, gained 3.9 percent to 2,622 yen. Goldman Sachs Group Inc. rated the company “buy” in new coverage, citing the company generates strong cashflow and its profit in Japan will likely recover on reconstruction demand after the earthquake disaster.
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