Dainippon Sumitomo, JFE, Nissan, Panasonic, Renown, Toray: Equity Movers
Japan’s Nikkei 225 Stock Average fell 231.73, or 2.4 percent, to 9526.67 at the 11 a.m. 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.
JFE Holdings Inc. (5411 JT), Japan’s second-largest steelmaker, slipped 2.7 percent to 2,929 yen. The company’s target share price was lowered to 3,100 yen from 3,900 yen by Atsushi Yamaguchi, an analyst at UBS AG.
Kobe Steel Ltd. (5406 JT) lost 3.2 percent to 181 yen. The steelmaker’s share price forecast was lowered to 180 yen from 200 yen by Atsushi Yamaguchi, an analyst at UBS AG.
Kose Corp. (4922 JT) advanced 2.3 percent to 2,168 yen. The cosmetics maker’s stock rating was increased to “outperform” from “market perform” by Hisae Kawamoto, an analyst at Mitsubishi UFJ Financial Group Inc.
Nissan Motor Co. (7201 JT) declined 4 percent to 652 yen, the lowest since December 1. The carmaker is recalling about 41,649 vehicles over a steering component, according to a statement from the U.S. National Highway Traffic Safety Administration.
Nisshin Steel Co. (5407 JT) lost 4.7 percent to 162 yen. Japan’s fifth-largest steelmaker had its share price forecast lowered to 180 yen from 210 yen by Atsushi Yamaguchi, an analyst at UBS AG.
Renown Inc. (3606 JT) leapt 15 percent to 219 yen after surgning 35 percent yesterday. The apparel maker will sell 4 billion yen in new shares to Chinese apparel manufacturer Shandong Ruyi Science & Technology Group Co.
Toray Industries Inc. (3402 JT) plunged 8.8 percent to 455 yen, its steepest decline since October 2008. The maker of synthetic fiber plans to raise as much as 109.5 billion yen ($1.2 billion) by selling as many as 230 million shares to the public.