Japan Stocks: Daikin, NGK Insulators, Sumitomo Heavy, Takefuji

Japan’s Nikkei 225 Stock Average fell 4.38, or less than 0.1 percent, to 9,995.02 as of the close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Consumer lenders: Japan’s consumer finance companies face multibillion-dollar losses and an industry shakeout as stricter loan rules that take effect today force them to slow lending, analysts said. The law caps interest rates at 20 percent and prohibits lending to borrowers with consumer debt equal to a third or more of their annual income.

Takefuji Corp. (8564 JT) tumbled 7.6 percent to 279 yen. Promise Co. (8574 JT) sank 6.1 percent to 648 yen. Acom Co. (8572 JT) declined 5.6 percent to 1,129 yen. Aiful Corp. (8515 JT) sank 5.2 percent to 127 yen. Credit Saison Co. (8253 JT) lost 4.1 percent to 1,039 yen.

CanBas Co. (4575 JT) plunged by its daily limit of 150 yen, or 19 percent, to 643 yen, the biggest drop and the lowest level since Sept. 18. The developer of anti-cancer drugs and Takeda Pharmaceutical Co. (4502 JT), Asia’s biggest drugmaker, will end collaboration on a cancer medication because of disagreement on the future development of the drug. Takeda rose 0.3 percent to 3,895 yen.

Cosel Co. (6905 JT) jumped 6.1 percent to 1,480 yen, the highest since December 2007. The maker of power supply products had its stock fair value boosted to 2,000 yen from 1,700 yen by Ichiyoshi Research Institute, which maintained a “buy” rating on Cosel.

Daikin Industries Ltd. (6367 JT) rose 2.1 percent to 2,960 yen. The air-conditioner maker was boosted to “outperform” from “neutral” by Shinji Kuroda, a Tokyo-based analyst at Credit Suisse Group.

Eiken Chemical Co. (4549 JT) leapt 3.1 percent to 830 yen. Japan’s health ministry approved Eiken Chemical to make and sell a kit that tests for the H1N1 influenza virus, the company said in a release.

Exedy Corp. (7278 JT) rallied 4.6 percent to 2,444 yen. The audio speaker maker was raised to “overweight” from “equal-weight” by Shinji Kakiuchi, a Tokyo-based analyst at Morgan Stanley.

Kewpie Corp. (2809 JT) advanced 3 percent to 1,025 yen. The mayonnaise maker said in a preliminary statement that first-half net income totaled 6.2 billion yen, beating its profit forecast by 32 percent amid cost cuts.

Leopalace21 Corp. (8848 JT) plunged 13 percent to 298 yen, the lowest since Dec. 14. The real-estate company was cut to “underperform” from “neutral” by Masahiro Mochizuki, a Tokyo-based analyst at Credit Suisse Group.

NGK Insulators Ltd. (5333 JT) sank 3.7 percent to 1,551 yen, the lowest since May 2009. The maker of electrical insulators and industrial ceramic products had its stock-price estimate lowered to 1,350 yen from 1,600 yen by Shinya Yamada, a Tokyo-based analyst at Credit Suisse Group., who maintained the company’s “underperform” rating.

NOK Corp. (7240 JT) gained 4.7 percent to 1,635 yen, the highest price since July 2008. The maker of oil seals and rubber products for cars had its stock-price estimate boosted to 1,550 yen from 1,450 yen by Morgan Stanley analyst Shinji Kakiuchi, who maintained its “equal-weight” rating.

Seiko Holdings Corp. (8050 JT) jumped 5.3 percent to 300 yen, the highest close since October 2008. The watchmaker aims to double net income by improving the profitability of its watchmaking and electronic-component divisions and expanding into new industries.

Sumitomo Heavy Industries Ltd. (6302 JT) rose 2.8 percent to 555 yen. The heavy machinery maker’s share-price estimate was increased to 560 yen from 480 yen by Teruo Isozaki, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co., who maintained the stock’s “market perform” rating.

Suncity Co. (8910 JT) surged by its upper daily limit of 500 yen, or 25 percent, to 2,519 yen, its steepest increase since at least September 2004. The real-estate company will likely receive a debt waiver of about 1.8 billion yen from a debt servicing company, Nikkei English News said.

Teac Corp. (6803 JT) climbed 4.3 percent to 49 yen. The maker of computer peripherals aims for operating profit of 3.6 billion yen for the year ending March 2013 through cutting its costs, Teac said.

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