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Japan Stocks: Fanuc, Japan Tobacco, Orix, Taiheiyo Cement, Tepco

Japan’s Nikkei 225 Stock Average fell 50.53, or 0.5 percent, to 10,047.19 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.

Disco Corp. (6146 JT), a chip-manufacturing equipment maker, rose 3.6 percent to 4,630 yen. The company’s sales increased 3.5 percent to 24.9 billion yen ($319 million) in the first quarter, according to the company’s preliminary earnings report.

Fanuc Corp. (6954 JT), Japan’s biggest maker of industrial robots, gained 1.2 percent to 14,730 yen. The company raised its first-half net income forecast 11 percent to 75 billion yen, citing improving orders and altered product designs that helped ease parts supply problems.

Japan Tobacco Inc. (2914 JT), Asia’s largest-listed tobacco company by market capitalization, extended yesterday’s gain, adding 4.7 percent to 333,000 yen. Japan’s Vice Finance Minister Fumihiko Igarashi said on July 25 the Japanese government is weighing selling assets including shares in Japan Tobacco and Nippon Telegraph & Telephone Corp. (9432 JT) to pay for earthquake reconstruction.

UBS AG analyst Naomi Takagi estimates that if Japan Tobacco buys back shares equivalent to between 10 percent and 20 percent of its outstanding shares that could boost earnings per share by as much as 40 percent, compared with the company’s forecast for the year ending in March 2012, according to a report dated yesterday.

Hitachi Cable Ltd. (5812 JT), a maker of power cables and optical fiber, surged 7.5 percent to 215 yen. Net income jumped to 1.72 billion yen in the three months to June 30 from 296 million yen a year earlier, helped by higher sales and reduced fixed costs.

Koito Manufacturing Co. (7276 JT), a maker of lighting equipment for cars, lost 2.4 percent to 1,347 yen. It posted a loss of 790 million yen for the quarter ended June 30 on a 20 percent drop in sales.

Komeri Co. (8218 JT), a home-center chain, advanced 4.1 percent to 2,388 yen. The company was raised to “buy” from “neutral” at Nomura Holdings Inc. The company, which sells agriculture-related products as well as household goods, will benefit from reconstruction demand following the earthquake disaster, Nomura said.

K’s Holdings Corp. (8282 JT) declined 4.2 percent to 3,735 yen. Yamada Denki Co. (9831 JT) retreated 4.4 percent to 6,380 yen. The appliance retailers had their ratings lowered to “neutral” from “buy” at Nomura, which said demand for televisions will slump following Japan’s shift to digital broadcasting on July 24.

M3 Inc. (2413 JT), a medical-information services provider, rose 4.1 percent to 658,000 yen, the highest level since January 2006. Net income jumped 63 percent to 1.1 billion yen as sales climbed 25 percent in the three months ended June 30, according to a statement to the Tokyo Stock Exchange. Revenue increased from an online medical information service, the company said in the document.

Nippon Electric Glass Co. (5214 JT), a glassmaker, sank 2.5 percent to 996 yen. The company posted a 45 percent drop in first-quarter net income to 13.7 billion yen and projected profit for the six months through Sept. 30 will fall to between 26.5 billion yen and 29.5 billion yen from the previous year’s 42.5 billion yen. The company expects it will take a while for demand for glass used for electronic devices to recover and that glass demand for building materials will continue to be sluggish, according to a statement to the Tokyo Stock Exchange.

Orix Corp. (8591 JT), a financial services company, rose 2.2 percent to 8,450 yen. The company’s first-quarter net income jumped 44 percent to 23.7 billion yen, compared with a year earlier. Revenue during the period gained 6.2 percent.

S.T. Corp. (4951 JT), a maker of mothballs and aromatics, surged 15 percent to 1,017 yen, the biggest gain since February 1999. The company will start selling radiation meters for household use in October, it said on its website.

Taiheiyo Cement Corp. (5233 JT), Japan’s biggest cement maker by market value, retreated 3.1 percent to 154 yen. The Nikkei newspaper reported the company’s full-year operating profit will probably be about 25 billion yen, lower than the median estimate of 27.3 billion yen by 10 analysts surveyed by Bloomberg.

Tokyo Electric Power Co. (9501 JT), the utility battling the worst nuclear crisis since Chernobyl, plummeted 16 percent to 431 yen, after a bill before parliament said stakeholders in the company will be asked to “cooperate” in compensating those affected by the Fukushima Dai-Ichi nuclear plant disaster.

While the language in the bill is vague, the wording raises concern shareholders may lose their capital and lenders may have to waive some loans, Daiwa Securities Capital Markets Co. analyst Toshiyasu Ohashi said yesterday when a draft of the bill was released.

Toshiba Corp. (6502 JT), an electronics maker, fell 1.9 percent to 411 yen. The company will likely post operating profit of between 2 billion yen and 3 billion yen for the April-June period, compared with a 29.4 billion yen profit a year earlier, the Nikkei newspaper reported without saying where it obtained the information. Falling factory utilization rates after the March earthquake hurt its profit, according to the report.

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