Asahi Glass, Ferrotec, Nippon Electric Glass, Tokio Marine: Equity Movers
Japan’s Nikkei 225 Stock Average fell 245.77, or 2.5 percent, to 9,784.54 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.
Dai-ichi Seiko Co. (6640 JQ) declined 5.7 percent to 2,127 yen, the lowest close since June 23, 2009. The maker of electronic and auto parts was lowered to “neutral” from “outperform” by Yoshiki Yuge, an analyst at Daiwa Securities Group Inc.
Ferrotec Corp. (6890 JQ) fell 2.7 percent to 967 yen. The maker of electronic components said full-year net income plunged 79 percent to 156 million yen ($1.7 million) as sales fell. It forecast profit will jump to 1.36 billion yen this fiscal year as sales recover.
Geomatec Co. (6907 JQ) jumped 19 percent to 1,229 yen, the sharpest increase since October 2008. The maker of flat panel display boards and optical equipment parts forecast net income will triple to 1.2 billion yen this fiscal year on a 19 percent advance in sales.
Kawashima Selkon Textiles Co. (3009 JT) gained 1.4 percent to 74 yen. The textile maker said it expects to turn to net income of 300 million yen this fiscal year.
Mizuno Corp. (8022 JT) rose 1.5 percent to 398 yen. The sporting-goods maker said forecast operating profit will rise 44 percent to 4 billion yen this fiscal year. In the year ended March 31, operating profit fell 4.4 percent to 2.78 billion yen on falling sales.
Nippon Electric Glass Co. (5214 JT) sank 3.9 percent to 1,170 yen and Asahi Glass Co. (5201 JT) fell 2.4 percent to 982 yen. The glassmakers were cut to “neutral” from “outperform” by Shinya Yamada, a Tokyo-based analyst at Credit Suisse Group AG.
Sony Corp. (6758 JT) increased 0.6 percent to 2,884 yen. Google Inc. (GOOG US) introduced software that puts Web content on television to persuade more consumers to use the Internet in their living rooms and view advertisements that generate revenue. The new tool, Google TV, will work with Intel Corp. (INTC US) chips in products by Sony and Logitech International SA (LOGN VX), Google said at a conference in San Francisco.
Universal Entertainment Corp. (6425 JQ) tumbled 9.4 percent to 1,441 yen. The pachinko machine maker that was slated to report earnings yesterday said it will postpone the announcement till early June because of slow progress on the works.