Japanese Stocks: Hino, Inaba Seisakusho, Nishimatsuya, Skymark

Japan’s Nikkei 225 (NKY) Stock Average rose 16.33, or 0.2 percent, to 8,735.57 at the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Chubu Electric Power Co. (9502 JT), the utility, rose 1.5 percent to 1,474 yen. The Japan Bank for International Cooperation, a public financial institution and export credit agency, may provide 100 billion yen of emergency loans to Chubu Electric this month, the Yomiuri newspaper reported.

Chuo Kagaku Co. (7895 JQ), a maker of plastic food containers, surged 14 percent to 459 yen, set for the biggest gain since May 2009. Mitsubishi Corp. (8058) (8058 JT), Japan’s biggest trading house by market value, plans to pay as much as 7 billion yen to acquire Chuo Kagaku through a tender offer. It will offer 386 yen for each Chuo Kagaku share, according to a statement. Mitsubishi slid 1.3 percent to 1,750 yen.

Hino Motors Ltd. (7205) (7205 JT), the truck maker, slipped 1.5 percent to 394 yen. Deutsche Bank AG lowered its equity rating on Hino to “hold” from “buy.”

Inaba Seisakusho Co. (3421 JT), a maker of prefabricated garages and sheds, rallied 6.3 percent to 863 yen. The company more than tripled its full-year net income projection to 180 million yen ($2.3 million) from 50 million yen, citing cost cuts.

Nishimatsuya Chain Co. (7545 JT), an apparel retailer, lost 4.8 percent to 629 yen. The company cut its full-year net income outlook 24 percent to 3.83 billion yen, as lower advertising and other fixed costs failed to cover reduced prices for spring and summer clothing.

Resorttrust Inc. (4681) (4681 JT), a resort hotel operator, leapt 3.4 percent to 1,254 yen. Daiwa Securities Group Inc. boosted its equity rating on Resorttrust to “outperform” from “neutral,” saying operating rates at its hotel restaurants recovered quicker than expected after the March earthquake.

Skymark Airlines Inc. (9204) (9204 JT), an airline, advanced 3.1 percent to 1,346 yen. Morgan Stanley MUFG Securities Co. raised its stock price estimate on Skymark to 1,800 yen from 1,650 yen. “We see limited risk of earnings deterioration” due to the likely realization of a firm-specific growth scenario from it low-price strategy and expansion.

Stella Chemifa Corp. (4109) (4109 JT), a maker of high-purity chemical products, retreated 4.1 percent to 2,180 yen, en route for the lowest close since May 2009. Daiwa Securities Group Inc. cut its investment rating on Stella Chemifa to “neutral” from “outperform,” saying the stocks are getting less undervalued.

Thine Electronics Inc. (6769) (6769 JQ), a chip developer, surged by its upper daily limit of 10,000 yen, or 18 percent, to 64,200 yen, the steepest advance since January 2010. The company said it will buy back up to 3.2 percent of its outstanding shares.

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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