Japan Stocks: Canon, Daiwa, Hitachi Medical, Kuraray, Shiseido

Japan’s Nikkei 225 (NKY) Stock Average rose 133.15, or 1.4 percent, to 9,691.84 at the close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Canon Inc. (7751) (7751 JT), the world’s largest camera maker, rallied 7 percent to 3,740 yen, the biggest gain since May 2009, after Nomura Holdings Inc. maintained a “buy” rating on the stock, citing prospects for mid-term growth of the company’s digital single-lens reflex camera operations. Canon yesterday cut its annual profit and sales forecasts after last month’s earthquake disrupted production. “Almost all of the company’s immediate negative factors have run their course,” Tetsuya Wadaki, an analyst at Nomura, said in a Japanese-language report dated yesterday.

Daihatsu Motor Co. (7262 JT), the minicar maker owned 51 percent by Toyota Motor Corp. (7203) (7203 JT), jumped 6.5 percent to 1,221 yen after posting record net income of 52.6 billion yen ($642 million) in the year ended March 31. Daihatsu postponed its profit forecast for the year ending March 31, citing the impact on production from last month’s earthquake in Japan. Toyota slid 0.3 percent to 3,185 yen.

Daiwa Securities Group Inc. (8601) (8601 JT), Japan’s second- largest brokerage, sank 4.4 percent to 344 yen. The company swung to a loss last fiscal year as investment banking income fell after it ended a 10-year joint venture with Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT). The net loss was 37.3 billion yen for the year ended March 31, compared with a profit of 43.4 billion yen a year earlier. Sumitomo Mitsui fell 0.1 percent to 2,442 yen.

Fujitsu General Ltd. (6755) (6755 JT), a maker of air-conditioning units, soared 8.7 percent to 425 yen. The company said operating profit rose 17 percent to 11 billion yen in the year ended March 31 as sales advanced by 11 percent.

Hitachi Medical Corp. (6910) (6910 JT), a medical-equipment maker, jumped 7.3 percent to 1,148 yen, the highest price since November 2007, after president Kazuyoshi Miki told to reporters in Tokyo today that the subsidiary is manufacturing radiation- measurement devices on three shifts around the clock to meet surging demand after radiation leaked from a nuclear reactor crippled by the last month’s earthquake.

Ibiden Co. (4062 JT), a maker of ceramics and building materials, leapt 4.9 percent to 2,754 yen. The company said it expects net income will advance 19 percent to 23.5 billion yen this fiscal year, with a 9.8 percent rise in sales.

Kadokawa Group Holdings Inc. (9477) (9477 JT), a publisher, climbed 6.4 percent to 1,933 yen. The company said in a preliminary earnings statement full-year net income amounted to 6.36 billion yen, beating its 2.3 billion yen outlook. The company also boosted its planned full-year dividend to 35 yen from 30 yen.

Kuraray Co. (3405 JT), a fiber maker, surged 11 percent to 1,178 yen after forecasting net income will rise 18 percent to 34 billion yen this fiscal year on growing sales.

Koito Industries Ltd. (6747) (6747 JT), an aircraft-seat maker that falsified test results, tumbled 13 percent to 113 yen. The company set more money aside for compensation claims by airlines on delivery delays. The company, which also makes train seats and lighting, said full-year net loss widened to 16.7 billion yen from 10.8 billion yen a year earlier.

Matsui Securities Co. (8628 JT), an online brokerage, slipped 3.5 percent to 391 yen, the lowest price since June 2003. Matsui Securities said full-year net income fell 29 percent to 5.41 billion yen, with a 9.3 percent drop in revenue.

Nippon Sharyo Ltd. (7102) (7102 JT), the unit of Japan’s biggest bullet-train operator, slumped 6.7 percent to 351 yen. The company forecast net income will fall 30 percent to 2.6 billion yen this fiscal year, as sales may drop by 11 percent.

NTT Data Corp. (9613) (9613 JT), a network-services company, gained 4.4 percent to 259,600 yen. Operating profit at NTT Data likely fell 6 percent to about 77 billion yen in the year ended March, more than its profit outlook of 75 billion yen, as a series of acquisitions boosted its overseas sales, the Nikkei newspaper reported.

PanaHome Corp. (1924) (1924 JT), a homebuilder, jumped 8 percent to 539 yen. The company forecast net income will gain 23 percent to 5.3 billion yen this fiscal year, with growing sales.

Osaka Titanium Technologies Co. (5726) (5726 JT), a titanium smelter, soared 9.5 percent to 6,210 yen after saying it expects a return to net income of 3.8 billion yen this fiscal year from a year-earlier loss, as sales may double.

Shiseido Co. (4911 JT), Japan’s biggest cosmetics maker, slumped 3.9 percent to 1,360 yen after saying full-year net income plunged 62 percent to 12.8 billion yen, dragged down by charges for a drop in the value of marketable securities and losses damaged by last month’s quake.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net.

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