Japan Stocks: Asahi Glass, Furukawa, Mitsumi, Osaka Exchange

Japan’s Nikkei 225 (NKY) Stock Average fell 43.21, or 0.5 percent, to 8,758.19 as of 9:45 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Asahi Glass Co. (5201 JT), a glassmaker, lost 4.8 percent to 631 yen, heading for the lowest close since May 2009. The company cut its full-year net income outlook 22 percent to 90 billion yen ($1.15 billion) on a longer-than-expected slump in the liquid-crystal display market and supply-chain disruptions caused by flooding in Thailand.

DeNA Co. (2432 JT), a social-networking service provider, advanced 3.1 percent to 2,708 yen. The company agreed to buy the Yokohama BayStars baseball team from Tokyo Broadcasting System Holdings Inc. DeNA said it will pay 9.5 billion yen for 66.9 percent of the club.

Furukawa Electric Co. (5801 JT), a maker of wire and cable, plunged 10 percent to 195 yen. The company reversed its full- year forecast to a net loss of 5 billion yen from a 3 billion yen profit, citing losses from the stronger yen and flooding in Thailand.

Hirose Electric Co. (6806 JT), an electric equipment maker, lost 4.1 percent to 6,980 yen. The company cut its full-year operating profit forecast 12 percent to 19.5 billion yen. The company also cut its second-half dividend from 75 yen to 55 yen.

Kirin Holdings Co. (2503 JT), a brewery maker, fell 2.6 percent to 946 yen, set for the lowest close since March 2009. The company cut its full-year net-income forecast 48 percent to 27 billion yen. The company cited securities losses and impairment of fixed assets for its outlook.

Mitsumi Electric Co. (6767 JT), an electronic-parts maker, tumbled 13 percent to 532 yen. The company widened its full-year net loss outlook to 10 billion yen from 6 billion yen. Bigger- than-expected declines in product prices and stronger-than- expected yen affected the company’s loss projection, Mitsumi said in a release.

Nikon Corp. (7731) (7731 JT), a camera maker, gained 2.7 percent to 1,792 yen. The company said net income in the six months ended Sept. 30 jumped to 50.4 billion yen from 10.6 billion yen a year earlier, as sales grew by 22 percent. The company cut its full-year net-income forecast 8.3 percent to 55 billion yen, saying flooding in Thailand hurt its output.

Oriental Land Co. (4661 JT), the operator of Tokyo Disney Resort, climbed 3.7 percent to 8,120 yen. The company forecast net income of 29.4 billion yen for the year ending March 31, compared with 22.9 billion yen a year earlier.

Osaka Securities Exchange Co. (8697 JQ), Japan’s second- biggest bourse, rallied 6.4 percent to 388,500 yen. Osaka Securities Exchange and Tokyo Stock Exchange Group Inc. have entered final takeover talks, forging a deal that would unite Japan’s largest bourse operators next year, Nikkei reported, without citing anyone. Tokyo Stock Exchange, which runs the main venue in the world’s third-largest equity market, would offer to buy between 50 percent and 66 percent of Osaka, according to the newspaper.

Takeda Pharmaceutical Co. (4502 JT), the nation’s biggest drugmaker, fell 2.1 percent to 3,430 yen, en route for the lowest close since April 2009. The company slashed its full-year net-income forecast 31 percent to 170 billion yen. Takeda cited costs related to the 9.6 billion-euro ($13.2 billion) takeover of Swiss rival Nycomed and the yen’s appreciation for the revised forecast.

Tokio Marine Holdings Inc. (8766) (8766 JT), Japan’s biggest non- life insurer, slumped 1.8 percent to 1,850 yen. The company cut its first-half net income 17 percent to 79 billion yen because of natural disasters abroad, according to a preliminary earnings statement.

Yamada Denki Co. (9831 JT), an electronics retailer, rose 1.7 percent to 5,900 yen. The retailer’s first-half current profit, or pretax profit from operations, may have risen about 30 percent to 70 billion yen from a year earlier as sales of energy efficient home appliances increased, the Nikkei newspaper reported, without saying where it obtained the information. A shift to all-digital broadcasting boosted demand for flat-panel televisions, the report said.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; Masaaki Iwamoto in Tokyo at miwamoto4@bloomberg.net.

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

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