Japan Stocks: Hitachi, Honda, Komori, Olympus, Tokai Tokyo
Japan’s Nikkei 225 Stock Average (NKY) rose 190.33, or 2.3 percent, to 8,477.82 as of the 3 p.m. trading close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Hitachi Ltd. (6501 JT), a maker of electronic equipment and machinery, rose 5.5 percent to 425 yen. Citi Global Markets Japan Inc. raised the investment rating on Hitachi to “buy” from “neutral,” citing cost-cutting efforts.
Komori Corp. (6349) (6349 JT), a maker of printing machines, soared 12.3 percent to 474 yen. It plans to buy back as much as 7.5 percent of its outstanding shares for up to 2.5 billion yen between today and Feb. 29, according to a statement to the Tokyo Stock Exchange.
Olympus Corp. (7733 JT) added 1.3 percent to 1,003 yen. The Nikkei newspaper reported the optical-equipment maker started two task forces to strengthen corporate governance and rebuild operations. The Securities and Exchange Surveillance Commission has opened an investigation into the scandal-hit company and will request documents related to acquisitions, the Nikkei newspaper reported separately, without citing anyone.
Taisho Pharmaceutical Holdings Co. (4581 JT), a pharmaceuticals-products maker, jumped 9.3 percent to 5,120 yen. It plans to buy back as much as 3.38 percent of its outstanding shares for up to 15 billion yen, according to a statement to the Tokyo Stock Exchange. The buyback is scheduled between Dec. 1 and March 31.
Tokai Tokyo Financial Holdings Inc. (8616) (8616 JT), a securities company, jumped 11 percent to 208 yen. The firm plans to buy back as much as 1.13 percent of its outstanding shares for up to 600 million yen, according to a statement to the Tokyo Stock Exchange. The buyback is scheduled between today and Dec 22.
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