Bridgestone, Fanuc, Hino, IHI, Kao, Mitsui O.S.K., Shimano: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 46.87, or 0.4 percent, to 11,212.66 at 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.
Tiremakers: Yokohama Rubber Co. (5101 JT) and other tiremakers gained after Arifumi Yoshida, an analyst at Citigroup Global Markets Japan Inc., raised his rating on the shares. Yokohama Rubber jumped 2.8 percent to 439 yen after it was boosted to “buy” from “sell.” Bridgestone Corp. (5108 JT) gained 1.6 percent to 1,588 yen and Sumitomo Rubber Industries Ltd. (5110 JT) rose 2.5 percent to 836 yen after they were raised to “buy” from “hold.”
Clarion Co. (6796 JT) rose 5.2 percent to 204 yen. The car audio-equipment maker’s full-year net income was 500 million yen, compared to its forecast of a 3.1 billion yen loss, the company said in a preliminary earnings statement.
Fanuc Ltd. (6954 JT) surged 11, the most since November 2008. The industrial robot maker expects 48.8 billion yen net income for the current fiscal year. The company said full-year profit for the year ended March 31 was 37.5 billion yen, 12 percent more than its forecast.
FCC Co. (7296 JT) surged 9.1 percent to 1,931 yen, its steepest gain since April 2009. The clutch maker expects net income of 7 billion yen for the current fiscal year, compared with its profit of 2.25 billion yen ($24 million) for the year ended March 31. Separately, the company was boosted to “buy” from “neutral” by Kunihiro Matsumoto, a Tokyo-based analyst at UBS AG.
Fuji Heavy Industries Ltd. (7270 JT) jumped 6.3 percent to 539 yen, its highest close since September 2008. The automaker said in a preliminary earnings statement its full-year net loss was 17 billion yen, compared with its forecast for a 25 billion yen net loss.
GS Yuasa Corp. (6674 JT) rose 2.6 percent to 683 yen. The battery maker said in a preliminary earnings statement its full- year net income was 6.5 billion yen, 86 percent more than forecast. The company raised its planned year-end dividend to 6 yen a share from 5 yen.
Hino Motors Ltd. (7205 JT) jumped 4.8 percent to 460 yen. The automaker forecast full-year net income will rise to 11 billion yen for the current fiscal year, compared to a loss of 3 billion yen for the previous year.
Hitachi Ltd. (6501 JT) gained 2.2 percent to 414 yen, its highest close since December 2008. The electronic-equipment maker said in a preliminary earnings statement its full-year loss was 110 billion yen, compared with the deficit of 210 billion yen the company projected.
Hitachi Construction Machinery Co. (6305 JT) fell 3.7 percent to 2,058 yen. The excavator maker said profit for the year ended March 31 fell 78 percent to 4.02 billion yen from a year earlier.
Hitachi Koki Co. (6581 JT) advanced 4.4 percent to 1,063 yen. The maker of electric tools and equipment expects net income of 6 billion yen for the current fiscal year, compared with its profit of 3.33 billion yen for the year ended March 31.
Hitachi Metals Ltd. (5486 JT) rose 4.5 percent to 993 yen. The precision-tool maker expects net income of 14 billion yen for the current fiscal year. The company said profit from the previous fiscal year was 1.94 billion yen, compared with a 3.02 billion yen net loss a year earlier.
IHI Corp. (7013 JT) soared 9.3 percent to 188 yen, the highest since September 2009. Japan’s second-largest maker of heavy machinery said in a preliminary earnings statement its full-year net income was 17 billion yen, compared with its forecast of 7 billion yen. The company said it has agreed to set up a nuclear power equipment venture with Toshiba Corp. (6502 JT) in October. Toshiba rose 0.6 percent to 548 yen.
Kao Corp. (4452 JT) fell 1.7 percent to 2,293 yen. Japan’s biggest maker of household products said full-year net income fell 37 percent to 40.5 billion yen from a year earlier.
Koito Industries Ltd. (6747 JT) sank 4 percent to 192 yen after the Japanese plane-seat maker forecast a second straight annual loss and compensation costs of at least 6.9 billion yen after admitting that it faked safety-test data.
Konica Minolta Holdings Inc. (4902 JT) jumped 7.5 percent to 1,255 yen. The maker of film used in liquid-crystal displays said in a preliminary earnings statement its full-year net income was 16.9 billion yen, 69 percent more than forecast.
Meidensha Corp. (6508 JT) advanced 2.5 percent to 445 yen after the maker of electrical machinery said in a preliminary earnings statement its full-year net income rose 30 percent to 650 million yen from a year earlier.
Mitsui O.S.K. Lines Ltd. (9104 JT) slid 3 percent to 688 yen. The operator of the world’s largest merchant fleet said full-year net income was 12.7 billion yen, 90 percent less than a year earlier. The company also said it plans to cut costs by 45 billion yen this fiscal year.
Nidec Servo Corp. (6585 JT) tumbled 6.9 percent to 554 yen, its sharpest decline since February 2009. Nidec Corp. (6594 JO) will make the electronics manufacturer a wholly owned unit, according to a filing with Japan’s Ministry of Finance. Nidec Corp. was unchanged at 9,850 yen.
NSK Ltd. (6471 JT) gained 3.5 percent to 749 yen. The bearing maker may report a 35 billion yen group operating profit for the year ending next March, Nikkei English News reported.
Okuma Corp. (6103 JT) rose 4.4 percent to 719 yen after Takeshi Ishizuka, an analyst at Mitsubishi UFJ Financial Group Inc. increased the machinery maker’s 12-month target price to 659 yen from 520 yen while maintaining his “market perform” rating.
Shimadzu Corp.?(7701 JT) advanced 3.6 percent to 805 yen, the highest since October 2008. The maker of measuring instruments and precision tools said in a preliminary earnings statement its full-year net income was 6.1 billion yen, 36 percent more than forecast.
Shimano Inc. (7309 JO) climbed 2.9 percent to 4,125 yen. The maker of bicycle equipment and fishing gear said first- quarter operating profit rose 41 percent to 7.25 billion yen. The company also said it will buy back as much as 1.1 percent of its outstanding shares.
Tokai Rika Co. (6995 JT) slumped 3.3 percent to 1,854 yen. The maker of electronic parts for automobiles forecast full-year net income of 10.5 billion yen this fiscal year, 17 percent less than the previous year’s profit.
Tokai Rubber Industries Ltd. (5191 JT) surged 6.1 percent to 1,192 yen. The resin-products maker said in a preliminary earnings statement its full-year net income was 3.5 billion yen, compared with its 1.5 billion yen forecast.
Yamada Denki Co. (9831 JT) surged 8.9 percent to 7,220 yen, the highest since October 2008. The electronics retailer said in a preliminary earnings statement its full-year net income was 55.8 billion yen, 29 percent more than forecast. The company also raised its planned year-end dividend to 40 yen a share from 33 yen.