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Japan Stocks: Chiba Bank, Ebara, Panasonic, Seiko Epson, Sony

Japan’s Nikkei 225 (NKY) Stock Average rose 154.46, or 1.6 percent, to 10,004.20 at the 3 p.m. 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.

All Nippon Airways Co. (9202 JT), Asia’s largest listed carrier by sales, gained 2.5 percent to 243 yen. The company aims to cut 30 billion yen ($369 million) in costs this fiscal year. The carrier delayed the announcement of its profit forecast for the year ending March 31, saying it needed time to determine the impact of last month’s earthquake.

Chiba Bank Ltd. (8331) (8331 JT), a regional lender, advanced 6.1 percent to 506 yen. The company said it will spend as much as 6 billion yen to buy back up to 1.3 percent of its outstanding shares.

Cosmo Oil Co. (5007 JT), a refiner, gained 3.4 percent to 274 yen. The company had 28 billion yen in net income for the year ended March 31, 56 percent more than it forecast, according to a preliminary earnings statement.

Daikin Industries Ltd. (6367) (6367 JT), a maker of air conditioners, increased 2.5 percent to 2,631 yen. The company will spend 5 billion yen to build an air-conditioner manufacturing plant in Brazil, according to a statement on its website.

Ebara Corp. (6361) (6361 JT), a pump maker, jumped 5.9 percent to 482 yen. The company had 28.5 billion yen in net income for the year ended March 31, beating its forecast for an 11 billion yen profit, according to a preliminary earnings statement.

Electric Power Development Co. (9513 JT), Japan’s biggest power wholesaler, leapt 4 percent to 2,211 yen. The company projected full-year net income will increase 33 percent to 26 billion yen.

Elpida Memory Inc. (6665) (6665 JT), the world’s third-largest maker of computer-memory chips, gained 2.8 percent to 1,236 yen. The company will start mass production of the world smallest dynamic random access memory chip in July, it said. The chip has a 25-nanometer line width, Elpida said.

Fujitsu Ltd. (6702) (6702 JT), Japan’s biggest computer-services provider, retreated 2 percent to 452 yen. The company said full- year net income plunged 41 percent to 55.1 billion yen.

Furukawa Co. (5715 JT), a maker of civil-engineering machinery and metal products, gained 2.2 percent to 92 yen. The company had 500 million yen in net income for the year ended March 31, exceeding its forecast for a 100 million yen profit, according to a preliminary earnings statement.

Inpex Corp. (1605) (1605 JT), Japan’s biggest energy explorer, fell 2.6 percent to 600,000 yen. Japan Petroleum Exploration Co. (1662) (1662 JT), the second-biggest oil driller, slid 1.3 percent to 3,900 yen. Crude for June delivery slipped as much as 1.5 percent to $112.21 a barrel in electronic trading in New York.

Mizuho Financial Group Inc. (8411) (8411 JT), Japan’s third- biggest bank, increased 3.1 percent to 132 yen. The company will turn three affiliates into wholly owned subsidiaries. Mizuho will pay 0.54 share for each Mizuho Trust & Banking Co. (8404 JT) share, 1.48 shares for each Mizuho Securities Co. (8606 JT) share, and 0.56 share for each Mizuho Investors Securities Co. (8607 JT) share, according to statements to the Tokyo Stock Exchange. Mizuho Trust advanced 4.4 percent to 71 yen. Mizuho Securities tumbled 5.9 percent to 193 yen. Mizuho Investors lost 3.9 percent to 74 yen.

Nitto Denko Corp. (6988) (6988 JT), a chemical-products maker, surged 7.2 percent to 4,615 yen. The company’s full-year net income rose to 55.7 billion yen from 37.6 billion yen a year earlier. The company had forecast a 58 billion yen profit.

Panasonic Corp. (6752) (6752 JT), the world’s largest maker of plasma televisions, rose 2.8 percent to 1,026 yen. The company reported its first annual profit in three years, helped by sales of audio-visual products and appliances. Panasonic also said it plans to reduce its workforce to 350,000 by March 2013.

Seiko Epson Corp. (6724) (6724 JT), a maker of electronic devices, climbed 5.7 percent to 1,492 yen, the biggest gain since Aug. 2. The company forecast net income will jump 66 percent to 17 billion yen this fiscal year.

Sony Corp. (6758) (6758 JT), the maker of PlayStation game consoles, rose 2.5 percent to 2,316 yen. The company apologized for a breach of its online video-game service and said it will resume the service by the end of the month.

Sumitomo Osaka Cement Co. (5232 JT), a cement maker, advanced 4.1 percent to 228 yen. The company’s full-year net income rose to 1.4 billion yen due to higher-than-expected domestic cement demand and cost cuts, according to a preliminary earnings statement. The company had forecast a 300 million yen profit.

Tokuyama Corp. (4043) (4043 JT), an industrial chemical maker, advanced 3.6 percent to 434 yen. The company’s full-year net income increased more than expected to 9.7 billion yen from 7.5 billion yen a year earlier, according to a preliminary earnings statement. The company had forecast a profit of 7.5 billion yen.

Toto Ltd. (5332) (5332 JT), a maker of toilet fixtures and sinks, declined 2.2 percent to 617 yen. The company projected its operating profit for the year ending in March 2012 will drop 14 percent to 12 billion yen.

Yamato Holdings Co. (9064 JT), a parcel-delivery company, fell 3 percent to 1,249 yen. The company forecast a 32 percent drop in full-year net income to 22.5 billion yen.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

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

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