Japan Stocks: Advantest, Cresco, Renesas, Sumco, Tokyo Dome

Japan’s Nikkei 225 (NKY) Stock Average rose 19.92, or 0.2 percent, to 8,741.16 as of 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.

Advantest Corp. (6857) (6857 JT), a maker of memory-chip testers, lost 2.6 percent 841 yen. The company was lowered to “neutral” from “overweight” by JPMorgan Chase & Co., which also cut its share price target on the company to 1,000 yen from 2,500 yen.

Cresco Ltd. (4674) (4674 JT), a business-software developer, jumped 7.1 percent to 557 yen, its biggest drop since March 22. The company boosted its net income forecast by 26 percent to 240 million yen, citing an increase in information technology investments.

Daihatsu Motor Co. (7262 JT), a maker of minicars, gained 4.9 percent to 1,380 yen, its highest level since Sept. 2008. The company said it expects to sell about 7,000 of its new Mira e:S minicars a month in Japan.

Denso Corp. (6902) (6902 JT), the maker of electronic parts for cars, rose 3.2 percent to 2,514 yen. Mizuho Securities Co. raised its investment rating on the stock to “neutral” from “underperform.”

DIC Corp. (4631) (4631 JT), a maker of printing ink, declined 5.2 percent to 147 yen. The company was cut to “neutral” from “buy” by Goldman Sachs Group Inc., which cited a delay in the recovery of ink sales because of an economic slowdown in the U.S. and Europe. Goldman also lowered its share price target to 190 yen from 220 yen.

Renesas Electronics Corp. (6723) (6723 JT), an electronics chipmaker, rallied 5.4 percent to 512 yen. The stock was raised to “neutral” from “underperform” by SMBC Nikko Securities Inc.

Softbank Corp. (9984) (9984 JT), a mobile-phone operator, fell 4.1 percent to 2,602 yen. Vodafone Group Plc, which currently has a partnership agreement with Softbank, will replace existing agreements by joining the Conexus Mobile Alliance, which covers at least 10 Asian countries and includes NTT DoCoMo Inc.

Sumco Corp. (3436) (3436 JT), a maker of silicon wafers for semiconductors, slumped 6.1 percent to 765 yen, its lowest level on record. The company’s share price estimate was cut to 720 yen from 800 yen by Goldman, which cited a downturn in the silicon wafer business.

Takara Bio Inc. (4974) (4974 JT), a drug company, jumped 4.2 percent to 425 yen. The company increased its first half net income forecast to 90 million yen from its previous outlook of a 45 million yen net loss, citing improved sales in its gene medical business.

Tokyo Dome Corp. (9681) (9681 JT), the operator of a baseball stadium and amusement park, increased 4.4 percent to 166 yen. The company’s share price target was boosted to 180 yen from 160 yen by Mitsubishi UFJ Morgan Stanley Securities Co., which maintained its “neutral” rating on the company.

Tokyo Rope Manufacturing Co. (5981 JT), a maker of wires and ropes, declined 3.9 percent to 173 yen. The company was lowered to “neutral plus” from “outperform” by Cosmo Securities Co., which cited a lower earnings outlook. Cosmo also cut the share price target to 240 yen from 410 yen.

To contact the reporter on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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