Japanese Stocks: Advantest, AOC, Daihatsu, Denso, Gree, Jafco

Japan’s Nikkei 225 (NKY) Stock Average fell 224.52, or 2.5 percent, to 8,719.24 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.

Automakers: Nissan Motor Co. (7201 JT), Honda Motor Co. (7267 JT) and other carmakers declined after Goldman Sachs Group Inc. lowered its rating on Japanese automotive sector to “neutral” from “attractive,” on concern U.S. economic growth is slowing and the protracted strength of the yen. Nissan slid 4.4 percent to 653 yen. Honda sank 3.3 percent to 2,403 yen. Yamaha Motor Co. (7272 JT), a motorcycle maker, retreated 4.7 percent to 1,126 yen.

Autoparts makers: Bridgestone Corp. (5108) (5108 JT), Denso Corp. (6902) (6902 JT) and other autoparts makers slid after Goldman also cut the sector’s rating to “neutral.” Bridgestone fell 3.2 percent to 1,642 yen. Denso dropped 3.3 percent to 2,331 yen. Stanley Electric Co. (6923 JT) retreated 5 percent to 1,063 yen. Toyota Industries Corp. (6201) (6201 JT) slid 3.9 percent to 2,100 yen.

Exporters: Advantest Corp. (6857) (6857 JT), Fanuc Corp. (6954) (6954 JT) and other exporters declined on heightened concern the global economy is slowing. Advantest, Japan’s largest maker of chip-testing equipment, fell 4.8 percent to 1,018 yen. Fanuc, the nation’s No.1 industrial robot maker, sank 5 percent to 12,150 yen. Sony Corp. (6758 JT), the country’s biggest exporter of consumer electronics, fell 3.2 percent to 1,594 yen.

Oil companies: AOC Holdings Inc. (5017) (5017 JT), an oil explorer and refiner, slumped 6.3 percent to 446 yen. Japan Petroleum Exploration Co. (1662) (1662 JT), Japan’s second-biggest oil explorer by revenue, fell 5.2 percent to 3,095 yen while larger Inpex Corp. (1605) (1605 JT) slipped 4.7 percent to 475,000 yen. Crude oil for September delivery plunged 5.9 percent to settle at $82.38 a barrel in New York yesterday as fuel demand will falter amid signs of weaker economic growth globally.

Daihatsu Motor Co. (7262 JT), a mini-car maker, climbed 2.4 percent to 1,249 yen. Goldman Sachs Group Inc. raised its investment rating on Daihatsu to “buy” from “neutral,” saying expected new model changes may improve competitiveness for its core models from the second half of this fiscal year.

Don Quijote Co. (7532 JT), a discount retailer, rose 2.6 percent to 2,799 yen. The company said it expects an 11 percent gain in net income to 14 billion yen ($182 million) this fiscal year. Net income rose 24 percent to 12.7 billion yen in the year ended June 30, Don Quijote said in a release.

Gree Inc. (3632) (3632 JT), operator of a social-networking website, tumbled 6.4 percent to 2,290 yen. Goldman Sachs Group Inc. cut its investment rating on the online company to “neutral” from “buy.” Goldman also removed Gree from its “conviction buy list,” citing recent rises in the stock price, according to a Japanese-language report dated Aug. 18. DeNA Co. (2432 JT), an online social media site, also dropped 5.3 percent to 4,030 yen.

Jafco Co. (8595 JT), a venture-capital company, plunged 10 percent to 1,512 yen, the lowest since March 2009. Ichiyoshi Securities Co. cut the equity rating on Jafco to “neutral” from “buy,” saying there’s concern the recent slumping markets in Japan and overseas may reduce the value of investment securities it holds.

Senkon Logistics Co. (9051 JQ), a trucking company, soared 7 percent to 599 yen, the steepest advance since August 2010, after saying its board decided to quintuple the upper limit of the shares to be bought back through Nov. 8 to 500,000 shares, 9.63 percent of its outstanding shares. The company had planned to repurchase up to 100,000 shares, or 1.93 percent of its total stock.

Sony Financial Holdings Inc. (8729) (8729 JT), the insurance and banking arm of Sony Corp. (6758), slumped 4.7 percent to 1,269 yen. Nomura Holdings Inc. cut its stock price estimate for Sony Financial to 1,900 yen from 2,380 yen, after lowering the value of its life insurance business.

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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