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Japan Stocks: Inpex, Mitsubishi Estate, Teijin, Toho Titanium

Japan’s Nikkei 225 Stock Average rose 16.12, or 0.2 percent, to 10,518.98 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.

Inpex Corp. (1605 JT) jumped 4.2 percent to 506,000 yen, the highest close since June 28. Japan Petroleum Exploration Co. (1662 JT) advanced 2 percent to 3,365 yen. The oil explorers advanced after the Organization of Petroleum Exporting Countries raised estimates for the amount of crude it will need to produce this year because of surging Asian demand.

JGC Corp. (1963 JT), a plant-engineering company, rose 3.3 percent to 2,027 yen, the highest close since September 2008. Mito Securities Co. increased its rating on the company to “outperform” from “neutral plus.”

Kewpie Corp. (2809 JT), a mayonnaise maker, fell 2 percent to 1,003 yen, the lowest close since June 17. The company had its rating reduced to “neutral” from “outperform” at Daiwa Securities Group Inc.

Mitsubishi Estate Co. (8802 JT), a property developer, advanced 3.4 percent to 1,627 yen, a level not seen since May 6. The company had its 12-month share-price estimate increased to 1,740 yen from 1,510 yen at Nomura Holdings Inc.

Mitsubishi Heavy Industries Ltd. (7011 JT), a heavy machinery maker, leapt 4.1 percent to 332 yen, the biggest gain since June 21. The company said in a faxed statement it won an order from Virginia Electric Power Co. for a steam turbine and three gas turbines.

Nachi-Fujikoshi Corp. (6474 JT), a bearings maker, surged 7.8 percent to 345 yen, the highest close since August 2008. The company booked a net income of 5.56 billion yen ($67 million) for the year ended Nov. 30, beating its forecast by 18 percent. The company projected a 26 percent increase in profit for this fiscal year.

Nippon Steel Corp. (5401 JT) retreated 1.4 percent to 293 yen. JFE Holdings Inc. (5411 JT) dropped 1.4 percent to 2,787 yen. Japan’s biggest steelmakers may miss their earnings forecasts for the year through March 31 because of increasing material costs, the Nikkei newspaper said.

Skymark Airlines Inc. (9204 JT), Japan’s largest budget carrier, leapt 6.2 percent to 1,399 yen, the highest close since February 2005. The company plans to increase its fleet of Airbus SAS A380 airplanes to 15 or 16 by 2016 as part of a planned partnership with Airbus, the French weekly newsletter La Lettre de L’Expansion reported, without citing anyone.

Teijin Ltd. (3401 JT) gained 4 percent to 395 yen, the highest close since June 2008. Toray Industries Inc. (3402 JT) rose 2.9 percent to 531 yen, the highest close since May 13. The fiber makers had their share price estimates increased at Goldman Sachs Group Inc.

Toho Titanium Co. (5727 JT) jumped 6.1 percent to 2,274 yen. Osaka Titanium Technologies Co. (5726 JT) leapt 6.5 percent to 4,570 yen, a level not seen since August 2008. Ishihara Sangyo Kaisha Ltd. (4028 JT), a producer of titanium oxide, soared 32 percent to 124, the biggest advance among the 1,662 companies in the Topix index. The titanium producers jumped after the Nikkei newspaper said export prices for titanium sponge used for aircraft engines will be 5 percent higher in 2011.

Yellow Hat Ltd. (9882 JT), a car accessories retailer, soared 12 percent to 948 yen, the highest close since February 2007. The company was rated “buy” in new coverage at Nomura Holdings Inc.

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