Aeon, Comsys, Fujikura, Kawasaki Kisen, Oji Paper, Renown: Japanese Stocks
Japan’s Nikkei 225 Stock Average fell 27.82, or 0.3 percent, to 9,756.72 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Aeon Co. Ltd. (8267 JT) declined 2.1 percent to 939 yen. The supermarket operator and Parco Co. (8251 JT) are in competition with other firms to buy the Seibu department store in the Yurakucho district, which is scheduled to close at the end of the year, Nikkei English News reported, without saying how it obtained the information. Parco slipped 2.6 percent to 762 yen.
Comsys Holdings Corp. (1721 JT) sank 2.3 percent to 769 yen, set for the lowest close since April 2009. The telecommunication company was lowered to “market perform” from “outperform” by Mitsubishi UFJ Morgan Stanley Securities Co.
Fujikura Ltd. (5803 JT) fell 2.8 percent to 410 yen. The maker of optic-fiber products was among companies that were fined for price fixing, Japan’s Fair Trade Commission said in a statement on its website.
Funai Electric Co. (6839 JO) leapt 6.2 percent to 3,440 yen, headed for the sharpest gain since Sept. 30. The audio-visual equipment maker was increased to “overweight” from “equalweight” by Yuji Fujimori, an analyst at Barclays Capital.
Internet Initiative Japan Inc. (3774 JT) jumped 5.4 percent to 230,300 yen. The Internet connection services provider had its rating increased to “buy” from “hold” at Citigroup Global Markets Japan Inc.
JX Holdings Inc. (5020 JT) gained 2.7 percent to 487 yen. The petrochemical company’s Nippon Oil unit plans to invest about 20 billion yen ($221.8 million) to begin commercial production of a new biofuel in Southeast Asia by fiscal 2015, Nikkei English News said, without citing anyone.
Kawasaki Kisen Kaisha Ltd. (9107 JT) advanced 3.6 percent to 342 yen. Japan’s third-largest shipping line was raised to “buy” from “neutral” by Nomura Holdings Inc.
Mitsui O.S.K. Lines Ltd. (9104 JT) gained 2 percent to 620 yen. The shipping line was boosted to “buy” from “neutral” by Nomura Holdings Inc.
Netmarks Inc. (3713 JT) surged 15 percent to 16,100 yen. Nihon Unisys Ltd. (8056 JT) offered to buy out the computer- services provider, the companies said in a joint press release. Nihon Unisys slid 0.5 percent to 641 yen.
Relo Holdings Inc. (8876 JQ) dropped 2 percent to 1,421 yen. The property manager plans to raise as much as 1.47 billion yen by selling existing shares and will use the funds to repay debt. The company also said the Tokyo Stock Exchange approved it to list the shares on the bourse’s second section on June 14.
Renown Inc. (3606 JT) was set to jump by the daily limit of 35 percent from the last close of 141 with the latest bid at 191 yen. Shandong Ruyi Group, a Chinese textile and apparel manufacturer, said it expects to sign a contract soon to acquire a stake in the Japanese clothing maker.
Riso Kyoiku Co. (4714 JT) advanced 3.9 percent to 5,120 yen. The school operator said it will spend as much as 200 million yen to repurchase up to 0.9 percent of its shares.