Japan Stocks: Advantest, Hitachi Construction, JT, NTN, Shinsei

Japan’s Nikkei 225 Stock Average fell 145.84, or 1.5 percent, to 9,901.35 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.

Advantest Corp. (6857 JT), the world’s biggest maker of memory-chip testers, tumbled 6.9 percent to 1,400 yen. The company said net income fell 56 percent to 346 million yen ($4.5 million) in the three months ended June 30, while sales increased 14 percent.

Fujitsu General Ltd. (6755 JT), a maker of air-conditioning units partly owned by Fujitsu Ltd. (6702 JT), leapt 4.6 percent to 621 yen, the highest close since December 2007. The company boosted its net income forecast to 3.5 billion yen from 1.7 billion yen for the six months through Sept. 30 because of strong sales of air conditioners in Japan and abroad. Fujitsu lost 1.5 percent to 464 yen.

Hitachi Ltd. (6501 JT), a maker of products from electronics to nuclear reactors, advanced 1 percent to 485 yen. The company will likely post about 50 billion yen in operating profit for the April-June period, the Nikkei newspaper reported without citing anyone. That’s about 60 percent of the company’s target for the first-half period as demand for construction machinery and home appliances was strong in emerging countries, according to the report.

Hitachi Construction Machinery Co. (6305 JT) gained 3.8 percent to 1,745 yen. The company boosted its forecast for net income to 3.8 billion yen from 1.5 billion yen for the six months ending Sept. 30, citing higher sales of parts and cost reductions.

Hitachi Metals Ltd. (5486 JT), a metal products maker, dropped 2.8 percent to 1,054 yen. Operating profit fell 8.7 percent to 10.9 billion yen in the three months ended June 30, according to a statement to the Tokyo Stock Exchange.

Japan Tobacco Inc. (2914 JT), Asia’s largest-listed tobacco company by market capitalization, rose 1.4 percent to 337,500 yen. The company said it favors a sale of the Japanese government’s stake in the company to end constraints on management.

The company may choose to buy back some shares in the event of a sale, Hideyuki Yamamoto, a spokesman for Japan Tobacco, said in an e-mail to Bloomberg News today.

Kobe Steel Ltd. (5406 JT), a steelmaker, retreated 3.4 percent to 170 yen. The company posted a 51 percent drop in first-quarter net income and slashed its annual profit forecast 62 percent to 20 billion yen.

NTN Corp. (6472 JT), a bearing maker, gained 1.5 percent to 474 yen. The company forecast full-year net income will rise 22 percent on higher sales. Separately, NTN said it will spend a total of 526 million yen, offering 100 yen per share, to buy smaller rival Nippon Kagaku Yakin Co. (5995 JO). Nippon Kagaku Yakin soared 43 percent to 100 yen.

Nissan Shatai Co. (7222 JT), a car assembler partly owned by Nissan Motor Co. (7201 JT), rose 2.7 percent to 652 yen. The company narrowed its net loss forecast to 1.4 billion yen from 2.5 billion yen for the six months ending Sept. 30. Nissan Motor declined 2.1 percent to 830 yen.

NTT Data Corp. (9613 JT), a network-services company, plunged 5.3 percent to 269,500 yen. Operating profit probably fell 10 percent to about 12 billion yen for the April-June period, the Nikkei newspaper reported without citing anyone. Profitability worsened as costs increased, according to the report.

Shima Seiki Manufacturing Ltd. (6222 JO), a maker of knitting machinery, lost 5.2 percent to 1,916 yen. Operating profit fell 8.3 percent to 2.85 billion yen in the three months ended June 30, as sales prices declined because of the yen’s appreciation, according to a statement to the Tokyo Stock Exchange.

Shinsei Bank Ltd. (8303 JT), a lender, increased 1.1 percent to 89 yen. The company was rated “overweight” in new coverage at Morgan Stanley MUFG Securities Co., which said the company’s new consumer-lending business has a big potential market.

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