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Japan Stocks: Edion, Nippon Electric, Olympus, Sony, Tosoh

Japan’s Nikkei 225 (NKY) Stock Average rose 102.80, or 1.2 percent, to 8,617.27 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.

Glassmakers: Nippon Electric Glass Co. (5214 JT), Nippon Sheet Glass Co. (5202 JT) and other companies in the sector gained after Barron’s reported, citing Darice Liu of Brigantine Advisors, that Corning Inc. (GLW US) may rise 20 percent or more if sales of television and computer displays pick up.

Nippon Electric jumped 5.3 percent to 738 yen. Nippon Sheet gained 4.3 percent to 146 yen. Asahi Glass Co. (5201 JT) rose 2.8 percent to 636 yen.

Aoyama Trading Co. (8219 JO), an apparel retailer, advanced 4 percent to 1,254 yen. The company returned to profitability with net income of 445 million yen ($5.8 million) in the six months ended Sept. 30 from a 1.65 billion yen loss a year earlier.

Digital Garage Inc. (4819) (4819 JQ), a website service provider, rallied 6 percent to 263,000 yen. The company said first-quarter net income jumped to 533 million yen from 32 million yen a year earlier on a 53 percent surge in sales.

Edion Corp. (2730) (2730 JT), an operator of electronics retailers, rose 4.8 percent to 608 yen. The company raised its full-year net-income forecast 20 percent to 12 billion yen.

Hiramatsu Inc. (2764) (2764 JT), a restaurant operator, surged 18 percent to 63,000 yen, set for the sharpest advance since at least April 2004. The company said it will buy back up to 3.34 percent of its outstanding shares. It also expects a 24 percent gain in net income to 1.06 billion yen this fiscal year.

Japan Bridge Corp. (5912) (5912 JT), a bridge builder, soared 11 percent to 222 yen. The company will spend 5.5 billion yen to acquire Oriental Shiraishi Corp. (1786 JP), a civil-engineering company, according to a statement.

Matsumotokiyoshi Holdings Co. (3088 JT), a drugstore chain, increased 3.4 percent to 1,509 yen. The retailer said net income more than doubled to 4.42 billion yen in the six months through September from 1.86 billion yen a year earlier, when a charge related to an accounting change weighed on results.

Misawa Homes Co. (1722 JT) jumped 9.5 percent to 518 yen. The homebuilder raised its full-year net-income outlook 50 percent to 6 billion yen on a gain from a lawsuit.

Mizuho Financial Group Inc. (8411 JT), Japan’s third- biggest publicly traded lender, added 3 percent to 104 yen. The company will cut 3,000 jobs by fiscal 2015 through its banking unit merger, the Nikkei newspaper reported.

Olympus Corp. (7733) (7733 JT), an endoscope maker, was bid at 540 yen and poised to rise by its daily limit of 80 yen from the last close of 460 yen. Japan’s securities regulator may recommend Olympus pay a levy for making false financial statements to avoid delisting from the stock market, Reuters reported, citing an unidentified source familiar with the case.

Daio Paper Corp. (3880) (3880 JT), which is also on the Tokyo Stock Exchange’s watchlist for possible delisting, rallied 17 percent to 505 yen, headed for the biggest gain since at least February 1988.

Sony Corp. (6758) (6758 JT), Japan’s leading exporter of consumer electronics, climbed 2.2 percent to 1,384 yen. Sony led a group that will pay $2.2 billion to Citigroup Inc. for the publishing unit of EMI, the 114-year-old music company that is home to the Beatles.

Taihei Dengyo Kaisha Ltd. (1968) (1968 JT), a builder of factories and power plants, soared 13 percent to 560 yen. It more than doubled its full-year net income outlook to 2.3 billion yen from 1.03 billion yen. Taihei Dengyo also said it will buy back up to a million shares.

THK Co. (6481 JT), a maker of industrial machinery, gained 3.6 percent to 1,482 yen. Goldman Sachs Group Inc. raised its stock price estimate on THK to 1,750 yen from 1,700 yen, maintaining its “buy” rating. “No need to be pessimistic about the cut in company’s earnings projections as its orders hit the bottom in October and will likely start mild recovery,” Goldman Sachs said in a Japanese-language report on Nov. 11, after THK cut its full-year operating-profit forecast 36 percent to 18.5 billion yen.

Tosoh Corp. (4042) (4042 JT), a chemical maker, slumped 5.7 percent to 216 yen, headed for the lowest close since November 2010. An explosion on Nov. 13 sparked a fire at Tosoh’s vinyl chloride monomer plant in Yamaguchi, Tosoh said on its website. A worker was killed in the blaze.

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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