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Japan Stocks: Canon Electronics, Mitsubishi Tanabe, Toa Oil

Dec. 20 (Bloomberg) -- Japan’s Nikkei 225 Stock Average fell 87.42, or 0.9 percent, to 10,216.41 as of 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.

Canon Electronics Inc. (7739 JT), a maker of camera units and magnetic heads, climbed 3.4 percent to 2,317 yen, the highest close since June 16. The company raised its net income forecast for the year ending Dec. 31 by 12 percent to 7.7 billion yen ($92 million). The company said it will pay a year-end dividend of 35 yen, up from the previous year’s 25 yen payout.

DeNA Co. (2432 JT), an operator of game and shopping websites, gained 4.2 percent to 3,095 yen, its highest close since its listing on the Tokyo Stock Exchange in February 2005. Nippon Television Network Corp. (9404 JT) and TV Asahi Corp. (9409 JT) will start offering game software through DeNA, the Nikkei newspaper reported. Nippon Television fell 0.5 percent to 12,520 yen. TV Asahi slid 0.1 percent to 143,200 yen.

Gree Inc. (3632 JT), a Japanese social networking website operator, rose 2.3 percent to 1,123 yen. The company said 171 companies will provide social applications for Gree’s platform for smart phones.

H.I.S. Co. (9603 JT), Japan’s largest listed travel agency by revenue, advanced 6.6 percent to 1,947 yen. The company forecast a 54 percent jump in full-year net income to 5.2 billion yen.

Hoosiers Corp. (8907 JT), a real estate company, soared 19 percent to 31,500 yen, the highest close since June 2008. The company said it aims to earn 2.95 billion yen in net income in the year ending March 2012, compared with this year’s target of 1.66 billion yen.

Mitsubishi Tanabe Pharma Corp. (4508 JT), a drugmaker, jumped 2.5 percent to 1,356 yen. The company was raised to “equalweight” from “underweight” at Barclays Capital.

Nihon Parking Corp. (8997 JQ), which provides parking services, surged 15 percent to 53,500 yen, a level not seen since July 2009. Tokyo Tatemono Co. (8804 JT), a property developer, will make a tender offer to buy out Nihon Parking for as much as 3.25 billion yen, or 60,000 yen a share, according to a statement to the Tokyo Stock Exchange. Tokyo Tatemono slid 1.3 percent to 370 yen.

Toa Oil Co. (5008 JT), a consignment-based oil refiner, jumped 6.4 percent to 117 yen, a level not seen since November 2009. The company boosted its net income forecast for the year ending Dec. 31 to 1.38 billion yen from 490 million yen, citing a recovery in the market for petroleum products.

Tokyo Electron Device Ltd. (2760 JT), a distributor of semiconductors, surged 11 percent to 155,000 yen, the largest gain since June 2004. The company said its shares will move to the Tokyo Stock Exchange’s first section on Dec. 24 from the second section.

Uny Co. (8270 JT), a supermarket operator, dropped 4.2 percent to 778 yen. The company was cut to “underperform” from “neutral” at Macquarie Group Ltd.

To contact the reporter on this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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