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Japan Stocks: Dainippon Screen, Elpida, Japan Wool, Pioneer

Jan. 17 (Bloomberg) -- Japan’s Nikkei 225 Stock Average was little changed at 10,502.86 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.

Dainippon Screen Manufacturing Co. (7735 JT), a maker of chip equipment, increased 3.8 percent to 691 yen, the highest close since November 2007. The company had its 12-month share price estimate raised to 1,000 yen from 790 yen at JPMorgan Chase & Co.

Elpida Memory Inc. (6665 JT), the world’s third-largest maker of computer memory chips, climbed 2.5 percent to 1,087 yen. The company was raised to “hold” from “sell” at Deutsche Bank AG.

Japan Wool Textile Co. (3201 JT), a textile maker, surged 12 percent to 770 yen, the largest gain since January 2008. The company said it expects full-year net income to increase 40 percent to 3 billion yen ($36.2 million) this year. The company also said it will spend as much as 240 million yen to buy back up to 0.4 percent of its shares.

Nippon Light Metal Co. (5701 JT), an aluminum producer, advanced 3 percent to 172 yen, a level not seen since July 2008. UBS AG raised the 12-month share price estimate on the company to 190 yen from 160 yen.

Nippon Meat Packers Inc. (2282 JT), Japan’s biggest producer of ham and sausage, rallied 3.1 percent to 1,139 yen. The company had its 12-month share price estimate raised to 1,300 yen from 1,200 yen at Goldman Sachs Group Inc.

Pioneer Corp. (6773 JT), a maker of audio and video equipment, leapt 4.6 percent to 384 yen, a level not seen since Feb. 4. Mainichi newspaper said on its website that Bank of America Corp.’s Merrill Lynch increased its share price estimate on Pioneer to 440 yen from 396 yen.

Plenus Co. (9945 JT), a distributor of boxed meals, jumped 5.8 percent to 1,329 yen, climbing the most since March 2009. The company raised its full-year net income forecast 22 percent to 2.4 billion yen, citing a recovery in same-store sales and cost cuts.

Union Tool Co. (6278 JT), a maker of drill bits, plunged 8.2 percent to 2,218 yen, the biggest drop since October 2008. Operating profit for the year ended Nov. 30 totaled 2.64 billion yen, short of the company’s forecast by 11 percent.

Yaskawa Electric Corp. (6506 JT), a maker of servomotors, gained 2.5 percent to 851 yen, the highest close since April 27. The company has won an order from a Japanese venture to supply motors and control equipment for about 1,000 electric vehicles, the Nikkei newspaper reported.

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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