Japan’s Nikkei 225 Stock Average sank 3.7 percent to 9,299.88 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.
Brokerages: Nomura Holdings Inc. (8604) (8604 JT) fell to the lowest level in 36 years in Tokyo trading, leading declines in Japanese securities companies amid a global share rout.
Nomura retreated 5.4 percent to 349, the lowest since February 1975. Daiwa Securities Group Inc. (8601) (8601 JT) dropped 3.6 percent to 321 yen. Mizuho Securities Co. (8606 JT) slipped 4.8 percent to 177 yen.
Exporters including Canon Inc. (7751) (7751 JT) and Toyota Motor Corp. (7203) (7203 JT) slid after the U.S. Labor Department yesterday said initial claims for unemployment insurance payments fell last week to a level that shows limited improvement in the labor market, boosting concern the global economy is faltering and cutting the earnings outlook for exporters. Applications for jobless benefits slid 1,000 in the week ended July 30 to 400,000, the lowest level in almost four months.
Canon, the world’s biggest camera maker by sales, lost 3.9 percent and Toyota, the world’s No.1 carmaker by market value, fell 3.2 percent. Fanuc Corp. (6954) (6954 JT), a maker of industrial robots that earns about 75 percent of sales overseas, retreated 4.6 percent. Mazda Motor Corp. (7261) (7261 JT), Japan’s No. 2 car exporter, sank 5.3 percent.
Oil companies: Inpex Corp. (1605) (1605 JT), the nation’s largest oil explorer by market value, tumbled 6.8 percent to 533,000 yen and Japan Petroleum Exploration Co. (1662) (1662 JT), the No. 2, lost 5.4 percent to 3,565 yen after crude oil for September delivery declined the most in three months in New York yesterday. AOC Holdings Inc. (5017) (5017 JT), an oil explorer, slid 4.8 percent to 518 yen.
Metal producers such as Sumitomo Light Metal Industries Ltd. (5738) (5738 JT) and Furukawa-Sky Aluminum Corp. (5741) (5741 JT) tumbled after The London Metal Exchange Index of prices for six metals including copper and aluminum slid 1.9 percent yesterday, the lowest close since June 28. Sumitomo Light sank 8.2 percent to 78 yen. Furukawa-Sky lost 8 percent to 266 yen. Nippon Light Metal Co. (5701 JT) fell 5.3 percent to 144 yen.
Amada Co. (6113 JT), a maker of metal-cutting machines, rose 1.4 percent to 593 yen, while CSK Corp. (9737) (9737 JT) slumped 7.3 percent to 292 yen. Amada is among companies to be added to the Nikkei 225 (NKY) Stock Average, the index’s compiler said in a statement. Amada will replace CSK on Sept. 28.
Daicel Chemical Industries Ltd. (4202) (4202 JT), a chemicals maker, declined 6.3 percent to 504 yen. The company said net income in the quarter ended June 30 fell 22 percent to 3.24 billion yen ($41 million), as the March earthquake reduced its production of inflators used for car airbags.
Japan Drilling Co. (1606 JT), an offshore drilling contractor, climbed 1.6 percent to 3,025 yen. The company raised its full-year net income outlook 11 percent to 3.22 billion yen.
Furukawa Electric Co. (5801 JT), a maker of wires and cables, retreated 6 percent to 300 yen. The company said net income in the quarter plunged 93 percent to 301 million yen as the March earthquake decreased demand for wire harnesses.
Mitsumi Electric Co. (6767 JT), which supplies parts to Nintendo Co. (7974 JO), plunged 9.1 percent to 652 yen, its lowest since October 1985. Mitsumi forecast a full-year loss on sluggish orders for “amusement-related products” and the yen’s appreciation. Nintendo rose 1.4 percent to 12,120 yen.
Mixi Inc. (2121) (2121 JT), the operator of Japan’s largest online social-networking service, tumbled 7.8 percent to 333,000 yen. The company said net income in the first quarter plunged 69 percent to 147 million yen, citing a decrease in advertizing revenue after the March quake and a change in accounting methods.
Nippon Sheet Glass Co. (5202 JT), a glassmaker, decreased 4.7 percent to 224 yen. The company said operating profit in the first quarter declined 44 percent to 3.62 billion yen.
Rakuten Inc. (4755) (4755 JQ), Japan’s largest online retailer, rallied 4.2 percent to 82,900 yen. The company said operating profit in the second quarter fell 0.8 percent to 15.1 billion yen. The profit was more than the mean estimate of 13 billion yen in a Bloomberg survey of five analysts.
Sony Corp. (6758) (6758 JT), an electronics maker, slumped 5 percent to 1,828 yen, its lowest since March 2009. Sony plans to begin sales of the PlayStation Vita portable games machine in the U.S. and Europe next year, missing the Christmas-holiday shopping season. The product will initially launch in Japan before the end of December, followed by introductions in the U.S. and Europe early next year, Kazuo Hirai, Chairman Howard Stringer’s top lieutenant, told reporters in Tokyo.
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