Elpida, Kawasaki Kisen, Nipro, Toyota, Yahoo: Japan Stocks

Japan’s Nikkei 225 Stock Average rose 208.27, or 2.3 percent, to 9,260.34 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Shipping lines: Nippon Yusen K.K. (9101) (9101 JT), Mitsui O.S.K. Lines Ltd. (9104 JT) and Kawasaki Kisen Kaisha Ltd. (9107) (9107 JT), Japan’s top three shipping companies, gained after Mitsubishi UFJ Morgan Stanley Securities Co. raised their target prices.

Nippon Yusen, the sector leader, rose 3.8 percent to 245 yen. Mitsui O.S.K. soared 7.1 percent to 363 yen, while Kawasaki Kisen jumped 7.6 percent to 184 yen.

Elpida Memory Inc. (6665) (6665 JT) plunged 14 percent to 320 yen, the steepest drop since September 2009. The chipmaker said it sees “uncertainty” over remaining in business because it still doesn’t have the necessary financing as an April debt deadline approaches. Elpida hasn’t been able to reach a deal with the trade ministry, the Development Bank of Japan and its main lenders, the company said in a statement.

Kansai Electric Power Co. (9503) (9503 JT), the nation’s second- largest utility, climbed 5 percent to 1,396 yen after Credit Suisse Group AG raised its investment rating to “outperform” from “neutral.”

Kenedix Inc. (4321) (4321 JT), a real estate investment company, jumped 7.4 percent to 13,070 yen. It swung from a loss with net income of 1.31 billion yen last year, which it forecast to rise to 1.7 billion yen this year, according to the statement.

Kozosushi So-Honbu Co. (9973 JQ) tumbled 12 percent to 149 yen. An unidentified buyer offered to pay 140 yen per share to acquire 52.57 percent of the sushi franchise from Skylark Co. (8180 JP), according to a Kozoshushi statement. Skylark plans to sell its entire stake, according to another release.

Medipal Holdings Corp. (7459) (7459 JT), a maker of medical tools and equipment, jumped 5.6 percent to 966 yen, the highest since October 2010. The company said it will spend as much as 10 billion yen to buy back up to 11 million shares.

Nexon Co. (3659) (3659 JT) slipped 4.8 percent to 1,203 yen. The online game developer said net income rose 19 percent to 25.8 billion yen in the year ended Dec. 31, missing an earlier projection of 26 billion yen.

Nipro Corp. (8086) (8086 JT), a medical-products manufacturer, tumbled 6.8 percent to 644 yen, the biggest drop since October 2003. The company said it will raise as much as 27.7 billion yen by selling new shares and convertible bonds.

Pola Orbis Holdings Inc. (4927) (4927 JT) dropped 4.1 percent to 1,995 yen. The cosmetics maker said it expects net income to drop 13 percent to 7 billion yen this year.

Sony Financial Holdings Inc. (8729) (8729 JT), the insurance and banking arm of Sony Corp. (6758) (6758 JT), rallied 7.2 percent to 1,423 yen. JPMorgan Chase & Co. raised its price estimate to 2,600 yen from 2,300 yen, citing improved insurance contracts. The investment bank maintained its “overweight” rating. Parent Sony gained 5.7 percent to 1,575 yen.

Tokio Marine Holdings Inc. (8766) (8766 JT), a non-life insurer, leapt 5.7 percent to 2,157 yen. The company maintained its net income forecast of 10 billion yen for the year ending March 31, even after rivals forecast losses this fiscal year. Nomura Holdings Inc. (8604) raised its target price on the stock to 2,710 yen from 2,500 yen, keeping its “buy” rating.

Toyota Motor Corp. (7203) (7203 JT), Asia’s biggest carmaker, climbed 4.7 percent to 3,265 yen. Satoshi Ozawa, the chief financial officer, said he expects operating profit of 840 billion yen next fiscal year, the Nikkei newspaper reported, citing an interview. Toyota forecast operating profit of 270 billion yen for this fiscal year.

Yahoo Japan Corp. (4689) (4689 JT), the operator of Japan’s most- visited Internet portal, lost 3.7 percent to 25,070 yen. Yahoo Inc.’s discussions to sell its stake in Alibaba Group Holding Ltd. and its Japanese operations in a tax-efficient manner have reached an impasse, according to a person briefed on the matter.

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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