Japan Equity Movers: Toshiba, Pasona, HIS, Cookpad, Ono Pharma

Japan stks erase losses in late afternoon trading. Topix closes 0.3% higher to extend longest winning streak in 6 yrs to 12th day. Non-bank financial and utility groups lead gainers while shipping skts fall. Volume about even with 30-day avg. Nikkei little changed.

ADVANCERS:

  • Pasona (2168 JP) +10%; raised to overweight from neutral at Mitsubishi UFJ Morgan Stanley, PT 1,300 yen
  • HIS (9603 JP) +10%; 1H oper. profit +20% to 10b yen, sales +3.2% to 260.8b yen; FY forecasts unchanged
  • Cookpad (2193 JP) +5.3%; to split stock 3-for-1 effective July 1
  • Access (4813 JP) +4.7%; 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
  • Teijin (3401 JP) +3.9%; upgraded to buy at UBS
  • Toshiba (6502 JP) +3.3%; climbs after gaining approval to delay earnings release, setting date for AGM; considers restoring dividend, Nikkei reports
  • Shiseido (4911 JP) +2.6%; Apr. retail sales rose 43% y/y
DECLINERS:
  • Yahoo Japan (4689 JP) -3.2%; biggest Nikkei 225 decliner, falls after 12% gain Fri. on e-commerce alliance with Alibaba
  • Tomoe Engineering (6309 JP) -2.8%; 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) -2.1%; downgraded to underweight from neutral at Mitsubishi UFJ Morgan Stanley, PT 1,640 yen

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