Japan Stocks: Kansai Electric, Kojima, Nintendo, Toyo Tanso

Japan’s Nikkei 225 (NKY) Stock Average fell 84.75, or 0.9 percent, to 9,889.72 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Processed meat makers: Nippon Meat Packers Inc. (2282) (2282 JT) sank 4.2 percent to 1,082 yen, while Itoham Foods Inc. (2284) (2284 JT) slid 3 percent to 321 yen. The government will instruct Fukushima prefecture to suspend all shipments of beef cattle from the region, Kyodo News reported.

Sporting goods makers: Descente Ltd. (8114) (8114 JT) and other sporting goods companies gained after Japan won its first Women’s World Cup soccer championship in Frankfurt. Descente jumped 3.7 percent to 454 yen. Xebio Co. (8281 JT) rose 1.7 percent to 1,911 yen. Mizuno Corp. (8022) (8022 JT) increased 1.3 percent to 379 yen.

Chugoku Electric Power Co. (9504 JT), a utility, fell 2.1 percent to 1,349 yen. The company stopped output at the No. 1 unit at its Misumi thermal power station in western Japan yesterday because of a potential steam leak, it said on its website. The halt will cause a temporary drop in power output, though the utility has enough back-up capacity to maintain stable supplies, Chugoku Electric said.

Invincible Investment Corp. (8963) (8963 JT) a real-estate investment trust, soared 9.2 percent to 12,350 yen. The REIT plans to sell 711,597 shares valued at 7 billion yen to four investors, including a unit of Fortress Investment Group LLC (FIG US), according to a filing with Japan’s finance ministry.

Japan Tobacco Inc. (2914) (2914 JT), a cigarette maker, slipped 2.3 percent to 313,000 yen. The company said June domestic cigarette sales volume fell 27.1 percent from a year earlier.

Kansai Electric Power Co. (9503 JT), Japan’s second-largest utility by revenue, retreated 3.3 percent to 1,393 yen. The power company shut down the No. 1 reactor at its Ohi nuclear plant on July 16 and faces a shortage of as much as 6.6 percent of generating capacity in August.

Kojima Co. (7513 JT) gained 4.6 percent to 590 yen. Yamada Denki Co. (9831 JT) rose 1.6 percent to 6,990 yen. K’s Holdings Corp. (8282) (8282 JT) added 0.6 percent to 4,000 yen. The appliance retailers probably had record current profit, or pretax profit from operations, in the three months ended June, the Nikkei newspaper reported. Japan’s promotion of energy conservation increased sales of products such as electric fans and low-power lighting fixtures, while a shift to all-digital broadcasting boosted sales of flat-panel televisions, the report said.

Marusan Securities Co. (8613 JT), a brokerage, climbed 3.7 percent to 341 yen. The company said it will buy back up to 1.42 percent of its shares. Net income in the quarter ended June 30 plunged to 10 million yen from 56 million yen a year earlier on lower revenue, according to a preliminary earnings statement.

Mebiopharm Co. (4580 JT), a biotechnology company, was untraded for a second day after it debuted on the Tokyo AIM exchange on July 15, with sell-offers exceeding buy-bids 46 to one. The shares were offered at 675 yen today. On July 7, Mebiopharm said it canceled a plan to sell new shares in an initial public offering, but still plans to list existing shares on the market.

Tokyo AIM is an alternative investment market established by the Tokyo Stock Exchange and the London Stock Exchange, and the framework is based on the London AIM market for growing companies.

Nintendo Co. (7974 JO), the maker of video-game players, lost 2.7 percent to 14,760 yen. Macquarie Group Ltd. cut its equity rating on Nintendo to “neutral” from “outperform,” and lowered its target price to 16,000 yen from 23,200 yen. “We estimate that Nintendo will need to downgrade its forecasts by over 20 percent as a result of soft 3DS and forex,” Macquarie said in a report dated yesterday.

Tokai Rika Co. (6995 JT), a maker of electronic parts for automobiles, advanced 4.3 percent to 1,620 yen. Mitsubishi UFJ Morgan Stanley Securities Co. boosted its investment rating for Tokai Rika to “outperform” from “neutral,” increasing its stock-price estimate 38 percent to 2,000 yen.

Toyo Tanso Co. (5310 JT), a maker of carbon and graphite products, rallied 5.9 percent to 4,050 yen. The company said net income jumped to 3.7 billion yen in the year ended May 31 from 1.44 billion yen a year earlier as sales rose 35 percent. The company expects profit will decline 8.1 percent to 3.4 billion yen this fiscal year.

Toyota Boshoku Corp. (3116) (3116 JT), an auto parts affiliate of Toyota Motor Corp. (7203) (7203 JT), climbed 2.6 percent to 1,364 yen. Mitsubishi UFJ Morgan Stanley Securities raised its investment rating on Toyota Boshoku to “neutral” from “underperform,” saying that the company is no longer overvalued on a production recovery in Toyota Motor.

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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