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Japan Stocks: Dainippon Sumitomo, Japan Tobacco, Kuraray

Japan’s Nikkei 225 Stock Average rose 46.31, or 0.5 percent, to 9,755.10 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.

Acrodea Inc. (3823 JT), a developer of software for mobile phones, slumped 4.1 percent to 36,450 yen. The company said it plans to raise about 1 billion yen ($13 million) selling equity warrants to Macquarie Bank Ltd.

Bank of the Ryukyus Ltd. (8399 JT), a regional lender, jumped 6.5 percent to 950 yen. The bank said it will buy back up to 1.4 percent of its outstanding shares.

Dainippon Sumitomo Pharma Co. (4506 JT) gained 6.2 percent to 775 yen. The drugmaker boosted its full-year net income outlook 36 percent to 15 billion yen. It also signed an agreement to license an antipsychosis drug in Europe to Takeda Pharmaceutical Co. (4502 JT). Takeda slid 0.6 percent to 3,880 yen.

Japan ERI Co. (2419 JQ), a provider of building inspection services, surged by its upper daily limit of 70,000 yen, or 21 percent, to 403,000 yen, the highest since January 2006. The company said it will conduct a 300-for-1 stock split, changing its minimum trading unit to 100 shares. The company’s current trading unit is 1 share, according to Bloomberg data.

Japan Tobacco Inc. (2914 JT), the world’s third-largest publicly traded cigarette company, fell 2.8 percent to 300,500 yen on concern further shipment halts may cause a negative impact on its earnings. Continued production adjustments beyond June might reduce operating profit by about 70 billion yen for its fiscal 2011, according to Daiwa Securities Capital Markets Co. Japan Tobacco said on March 25 that it won’t ship products domestically from March 30 to April 10 because of earthquake damage to five of its plants.

Kuraray Co. (3405 JT), a fiber maker, advanced 5 percent to 1,072 yen. The company may post a 70 percent gain to more than 52 billion yen operating profit for the year ending March, buoyed by demand for polarizer materials for liquid crystal displays, the Nikkei newspaper reported.

Kurita Water Industries Ltd. (6370 JT), a maker of water-treatment equipment, rose 3.1 percent to 2,459 yen. The company may supply synthetic cloth to cover nuclear reactors in Fukushima as part of efforts to prevent the spread of radiation, the Yomiuri newspaper reported.

Medinet Co. (2370 JT), a provider of immunotherapy services, soared 15 percent to 16,110 yen. The company has obtained patent rights for anti-esophageal cancer peptides in Japan, Medinet said in a release.

Nippon Carbon Co. (5302 JT), a maker of graphite electrodes, slumped 6.1 percent to 199 yen. The company was cut to “neutral” from “outperform” by Jun Yamaguchi, a Tokyo-based analyst at Credit Suisse Group AG.

Nippon Shokubai Co. (4114 JT), a chemicals maker, rose 3.4 percent to 1,042 yen, the highest since December 2007. The company will spend about 25 billion yen to boost capacity for superabsorbent polymer used in paper diapers in Indonesia, the Nikkei newspaper reported.

Parco Co. (8251 JT), a shopping-center operator, advanced 5.1 percent to 825 yen. Mori Trust Co. (MTCZ JP), a real-estate company, will propose changing the management of Parco, the Nikkei newspaper reported. Mori Trust is Parco’s largest shareholder.

Shimamura Co. (8227 JT), an apparel retailer, climbed 5.6 percent to 7,330 yen. The company said full-year net income rose 8.2 percent to 23.5 billion yen.

Taiyo Yuden Co. (6976 JT), a maker of electronic components, increased 4.3 percent to 1,115 yen. The company was boosted to “overweight” from “neutral” by Masashi Itaya, a Tokyo-based analyst at JPMorgan Chase & Co.

Tonichi Carlife Group Inc. (8291 JT), a car dealership, soared by its daily limit of 30 yen, or 33 percent, to 120 yen, the steepest increase since May 2009. The company said it expects a 1.82 billion yen gain from the sale of shares and fixed assets of a wholly owned driving school in Tokyo as part of its measures to focus on its core business.

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