Japan Equity Movers: Ono Pharma, TV Tokyo, Toshiba, Pasona, HIS

Topix declines 0.3% after 11 straight daily gains. Real estate and transportation equipment groups lead declines, textile & apparel stks rise. Volume about equal to 30-day avg for morning session. Nikkei -0.4%.


  • Pasona (2168 JP) 8.2%; raised to overweight from neutral at Mitsubishi UFJ Morgan Stanley, PT 1,300 yen
  • HIS (9603 JP) +8.2%; 1H oper. profit +20% to 10b yen, sales +3.2% to 260.8b yen; FY forecasts unchanged
  • Access (4813 JP) +7%; turns net profit of 146m yen in 1Q vs 408m yen loss year ago; oper. loss narrows to 287m yen vs 384m yen y/y
  • Cookpad (2193 JP) +4.4%; to split stock 3-for-1 effective July 1
  • Teijin (3401 JP) +4.1%; biggest Nikkei 225 gainer; upgraded to buy at UBS
  • Toshiba (6502 JP) +2.4%; considers restoring dividend, Nikkei reports; will hold AGM June 25; gets approval to delay securities report, expects to submit by end-Aug.


  • Yahoo Japan (4689 JP) -3.1%; biggest Nikkei 225 decliner, falls after Friday’s 12% gain on e-commerce alliance with Alibaba
  • Tomoe Engineering (6309 JP) -2.9%; cuts full-yr oper. profit forecast 30% to 1.28b yen; reduces sales target 5.5% to 40.4b yen
  • Ono Pharmaceutical (4528 JP) -2.2%; study shows Opdivo’s effectiveness against non-squamous, small-cell long cancer tied to whether patients have high levels of PD-L1 on tumors, potentially limiting market for the treatment
  • TV Tokyo (9413 JP) -2%; downgraded to underweight from neutral at Mitsubishi UFJ Morgan Stanley, PT 1,640 yen
  • Mitsui & Co. (8031 JP) -1.6%, Marubeni (8002 JP) -1.1%; cut to neutral at SMBC Nikko

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