Japan Stocks: Daio Paper, NOK, Tokyo Dome, Tsumura

Japan’s Nikkei 225 Stock Average rose 13.67, or 0.2 percent, to 8,514.47 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Capcom Co. (9697 JT), a game developer and amusement center operator, advanced 3.1 percent to 2,166 yen, reversing earlier declines, after saying it will release a game based on its “Monster Hunter” franchise for Gree Inc.’s (3632 JT) social network. Gree fell 0.5 percent to 2,742 yen.

Daio Paper Corp. (3880 JT) plunged by its daily limit of 100 yen, or 19 percent, to 433 yen, the steepest drop since at least February 1988. The Tokyo Stock Exchange placed the papermaker on a watchlist for a possible delisting after Daio said it will probably miss its Nov. 14 earnings deadline, facing removal from the bourse if it fails to meet its revised reporting date. Daio said last month it was planning to file a criminal complaint against its former chairman after an investigation revealed he received loans from subsidiaries.

Himawari Holdings Inc. (8738 JQ), a trader of commodity futures, tumbled 8.7 percent to 95 yen, the lowest since at least May 2002. The company plans to raise about 1.13 billion yen by selling 12.5 million shares to IS Holdings Co., according to a filing with Japan’s finance ministry.

Konaka Co. (7494 JT), a men’s suit store chain, surged 23 percent to 333 yen, the sharpest advance since at least July 1997, after saying it forecast net income will nearly quadruple to 3.05 billion yen this fiscal year that started Oct. 1 on cost cuts. The company had a 795 million yen profit in the year ended Sept. 30.

NOK Corp. (7240 JT), a maker of rubber products, leapt 5.5 percent to 1,282 yen. NOK said net income fell to 6.91 billion yen in the six months ended Sept. 30, beating its 6.6 billion yen outlook. The company lowered its full-year net-income forecast 29 percent to 15.8 billion yen.

Olympus Corp. (7733 JT) lost 5 percent to 460 yen, the lowest since February 1975. The company said it’s likely to miss a Nov. 14 deadline for the release of its first-half earnings and will instead aim to give the figures by Dec. 14. Olympus was placed on Tokyo Stock Exchange Group Inc.’s so-called watchlist for review for possible delisting, according to the Japanese bourse’s website.

Rohto Pharmaceutical Co. (4527 JO) soared 6.3 percent to 977 yen. The drug maker said net income in the six months ended Sept. 30 rose 13 percent to 4.08 billion yen, citing cost cuts.

Shimadzu Corp. (7701 JT), a maker of measuring instruments and precision tools, slipped 3 percent to 638 yen. The company said first-half net income fell 23 percent to 2.14 billion yen, while operating profit jumped 56 percent to 7.31 billion yen.

Tokushu Tokai Holdings Co. (3708 JT), a paper products maker, jumped 9.6 percent to 183 yen. The company said it will buy back up to 10.03 percent of its outstanding shares for as much as 3.2 billion yen through March 31.

Tokyo Dome Corp. (9681 JT), an operator of the home stadium of the Yomiuri Giants baseball team, lost 4.1 percent to 165 yen. Japan’s Yomiuri Giants baseball team said the chairman of the club’s owner, the Yomiuri newspaper, tried to influence the team’s coaching appointments, violating protocol. Chairman Tsuneo Watanabe shouldn’t consider the Giants or professional baseball his “personal property,” Hidetoshi Kiyotake, the team’s general manager, told reporters in Tokyo today.

Tokyo Seimitsu Co. (7729 JT), a maker of chip-manufacturing equipment, gained 5.6 percent to 1,490 yen. The company raised its full-year net-income projection 26 percent to 7.8 billion yen, citing cost reductions. It also plans to pay a full-year dividend of 16 yen per share, up from 10 yen a year earlier.

Toyo Engineering Corp. (6330 JT), a plant-engineering company, rallied 5.7 percent to 262 yen after boosting its full-year net income projection to 2.7 billion yen from 500 million yen on lower fixed costs. The company raised its planned annual dividend to 5 yen per share from 3 yen. The increase includes a commemorative dividend of 1 yen to mark its 50th anniversary.

Tsumura & Co. (4540 JT), a drugmaker, slid 4.5 percent to 2,105 yen, its lowest level since March 2008. The company cut its full-year net-income outlook 10 percent to 12.2 billion yen as sales of the medical-use herbal medicines failed to reach the company’s projection in the first-half period.

Ulvac Inc. (6728 JT), a maker of solar cells and vacuum components, declined 4.1 percent to 912 yen, the lowest since at least April 2004. The company said first-quarter net income plunged 81 percent to 233 million yen.

Yokogawa Electric Corp. (6841 JT), a maker of electronic measuring tools, climbed 4.9 percent to 754 yen. Cosmo Securities Co. boosted its investment rating on the stock to “outperform” from “neutral plus,” while Tachibana Securities Co. initiated coverage of Yokogawa with a “strong outperform” rating.

(Corrects to remove erroneous reference to former chairman in Olympus item.)
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