Japan Stocks: Asahi Glass, Dainippon Screen, Hitachi, Toyota

Japan’s Nikkei 225 Stock Average fell 17.07, or 0.2 percent, to 10,394.03 at the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Asahi Glass Co. (5201 JT) rose 1.9 percent to 1,065 yen. The glassmaker raised its full-year net income forecast by 22 percent to 110 billion yen ($1.2 billion), citing higher demand for glass used in flat panel displays and automobiles.

Daicel Chemical Industries Ltd. (4202 JT) rallied 6.3 percent to 606 yen, the steepest gain since May 2009, after the chemical maker forecast net income will advance 49 percent to 16.5 billion yen this fiscal year on sales growth.

Daiichi Sankyo Co. (4568 JT), Japan’s third-largest drugmaker, rose 2.5 percent to 1,657 yen, after its Indian unit Ranbaxy Laboratories Ltd. (RBXI IN) posted record quarterly profit yesterday.

Dainippon Screen Manufacturing Co. (7735 JT) slumped 7 percent to 489 yen. The chip-equipment maker was cut to “hold” from “buy” by Yoshikazu Higurashi, a Tokyo-based analyst at Deutsche Bank AG.

H2O Retailing Corp. (8242 JT) slumped 4.7 percent to 607 yen, after the retailer said it expects net income to fall 14 percent to 2.6 billion yen this fiscal year.

Hitachi Ltd. (6501 JT) leapt 4.7 percent to 400 yen. The world’s third-largest maker of hard-disk drives forecast its first annual profit in five years after exiting its plasma-screen business and other money-losing operations. Net income may be 130 billion yen in the 12 months to March 2011, after a loss of 107 billion yen the previous year, Hitachi said in a statement.

Isuzu Motors Ltd. (7202 JT) gained 6.3 percent to 302 yen. Japan’s largest maker of light-duty trucks forecast net income will more than double to 20 billion yen this fiscal year, with sales growth. It earned 8.4 billion yen in the year to March 31.

NHK Spring Co. (5991 JT) jumped 7.3 percent to 939 yen, the highest close since June 2008. The autoparts maker expects a 65 percent gain in net income to 17 billion yen this fiscal year, as sales grow.

Nihon Kohden Corp. (6849 JT) soared 12 percent to 1,920 yen. The medical equipment maker posted a 28 percent gain in full-year net income to 5.92 billion yen. It expects a 6.5 percent rise in profit this fiscal year.

Nitto Boseki Co. (3110 JT) surged 9.5 percent to 220 yen. The maker of textiles, building materials and glass fiber expects net income to double to 2.7 billion yen this fiscal year. It earned 1.35 billion yen in the year ended March 31.

NSK Ltd. (6471 JT) gained 5 percent to 716 yen. The bearing maker forecast net income will more than quadruple to 21 billion yen this fiscal year.

NTT Data Corp. (9613 JT) rallied 11 percent to 357,000 yen, the biggest advance since November 2008. The network-services company said it expects net income to rise 32 percent to 47 billion yen this fiscal year. UBS AG boosted the rating to “buy” from “neutral.”

Olympus Corp. (7733 JT) sank 7.7 percent to 2,418 yen, the steepest drop since April 28, 2009. The endoscope maker forecast net income will fall 56 percent to 21 billion yen this fiscal year.

Renesas Electronics Corp. (6723 JT) tumbled 6.6 percent to 1,096 yen, after the chipmaker formed on April 1 from a merger of NEC Electronics Corp. and Renesas Technology Corp. reported a loss.

Rohm Co. (6963 JO) slid 3.5 percent to 6,360 yen, extending yesterday’s 1.6 percent drop, after the electronic-component maker said full-year net income fell 28 percent to 7.13 billion yen. Charges from restructuring costs and impaired assets dragged down earnings, Rohm said 20 minutes before the market closed yesterday.

Sumitomo Metal Mining Co. (5713 JT) leapt 3.7 percent to 1,372 yen. Japan’s largest nickel producer expects net income to gain 24 percent to 67 billion yen this fiscal year. The company also said it plans to invest 75.8 billion yen in fiscal 2010, a 34 percent increase from the previous year.

Toyota Motor Corp. (7203 JT) rose 2.7 percent to 3,590 yen. The world’s largest carmaker forecast net income will rise 48 percent to 310 billion yen this fiscal year as auto demand recovers in North America, its largest market.

Trend Micro Inc. (4704 JT) lost 5.7 percent to 2,925 yen, the lowest close since May 18 last year. The world’s third-biggest maker of security software said first-quarter net income dropped 27 percent to 3.53 billion yen, dragged down by higher marketing costs.

USS Co. (4732 JT) surged 7.5 percent to 6,470 yen, the sharpest gain since August 2009. The manager of used-car auctions announced it plans to buy back and retire shares. USS also said it expects net income to gain 6.2 percent to 13.5 billion yen this fiscal year.

Yamaha Motor Co. (7272 JT) climbed 4.8 percent to 1,368 yen, after the world’s second-largest motorcycle maker said it returned to first-quarter net income of 7.51 billion yen, with rising sales. It lost 15.8 billion yen a year earlier.

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