Furuno, Koa, Hitachi High-Technologies, KDDI, Konami, Tosoh: Equity Movers
Japan’s Nikkei 225 Stock Average fell 193.41, or 1.7 percent, to 10,908.77 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.
D.A. Consortium Inc. (4281 JX) soared 16 percent to 50,700 yen, its highest close since June 2008. The stock was boosted to “neutral plus” from “neutral” by Tomoaki Kawasaki, an analyst at Cosmo Securities Co.
Fuji Heavy Industries Ltd. (7270 JT) declined 3.7 percent to 489 yen. The automaker, which makes Subaru vehicles, will spend several billion yen by July to increase U.S. production by 40 percent, the Nikkan Koygo newspaper reported, without saying where it obtained the information.
Furuno Electric Co. (6814 JO) slumped 5.8 percent to 473 yen, its biggest decline since November 2009. The marine- equipment maker swung to a 3.2 billion yen full-year loss in the 12 months ending Feb. 28, from 1.23 billion yen profit a year earlier.
Gendai Agency Inc. (2411 JQ) surged 12 percent to 103,000 yen, its biggest increase since June 2006. The provider of advertising services for pachinko parlors forecast a 16 percent increase in profit for this fiscal year to 1.3 billion yen.
Japan Tobacco Inc. (2914 JT), the world’s third-largest publicly traded cigarette maker, fell 2.6 percent to 319,000 yen. Gallaher Group Ltd., a unit of Japan Tobacco, was fined 50.4 million pounds ($77 million) for coordinating cigarette prices with 11 other companies including Imperial Tobacco Group Plc and Wal-Mart Stores Inc.’s Asda unit, the U.K. Office of Fair Trade said on April 16.
Kaga Electronics Co. (8154 JT) lost 3.8 percent to 976 yen, its biggest decline since September 2009. The maker of parts for computers and electronics missed its break-even forecast, reporting a loss of 200 million yen, according to a preliminary earnings statement.
KDDI Corp. (9433 JT) dropped 2.6 percent to 461,500 yen. Japan’s second-largest mobile-phone operator said in a preliminary earnings statement that full-year net income totaled 212.5 billion yen, 5.6 percent less than forecast. KDDI took a 61 billion yen charge to reduce its fixed-line network, the company said.
Koa Corp. (6999 JT) jumped 7.9 percent to 956 yen. The electronic parts maker’s full-year net income jumped to 1.2 billion yen, 35 percent more than its forecast, according to a preliminary earnings statement.
Konami Corp. (9766 JT) fell 6.1 percent to 1,804 yen, the most since August 2009. The game maker’s full-year profit totaled 13 billion yen, 19 percent less than forecast, according to a preliminary earnings statement. The company was also cut to “underweight” from “neutral” by Eiji A Maeda, an analyst at JPMorgan Chase & Co.
PanaHome Corp. (1924 JT) sank 2.1 percent to 608 yen. The homebuilder’s full-year net income totaled 2.4 billion yen, down from a 2.94 billion yen profit the previous year, the company said in a preliminary earnings statement.
Sawai Pharmaceutical Co. (4555 JT) declined 4.1 percent to 6,820 yen, the most since November 2009. The drugmaker was cut to “neutral” from “outperform” by Katsuhiko Suzuki, an analyst at Mizuho Securities Co.
Takaoka Electric Manufacturing Co. (6621 JT) jumped 6.3 percent to 374 yen, the highest level since July 1997. The maker of chargers for electric cars said full-year net income jumped to 408 million yen from 313 million yen the previous year, according to a preliminary earnings statement.
Towa Pharmaceutical Co. (4553 JT) dropped 4.7 percent to 4,975 yen, the most since November 2009. The drugmaker was cut to “underperform” from “neutral” by Katsuhiko Suzuki, an analyst at Mizuho Securities Co.
Ube Industries Ltd. (4208 JT) slipped 2 percent to 241 yen. The chemical products maker’s group operating profit may have fallen 13 percent to about 27 billion yen in the year ended March, topping its estimate by about 2 billion yen, Nikkei English News reported.
To contact the reporter on this story: Anna Kitanaka in Tokyo at email@example.com