Asahi Kasei, East Japan Railway, Nichiyu Giken, Okumura: Japanese Stocks
Japan’s Nikkei 225 Stock Average rose 25.57, or 0.3 percent, to 9485.46 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.
Brother Industries Ltd. (6448 JT) advanced 3.5 percent to 960 yen. The office-equipment maker raised its first-half net income forecast by 62 percent to 10.5 billion yen ($117 million), saying higher sales of industrial equipment will offset the negative impact of a stronger yen.
DIC Corp. (4631 JT) slipped 2 percent to 146 yen. The ink and pigment maker will sell new shares for 144 yen each to raise as much as 17.4 billion yen, the company said.
East Japan Railway Co. (9020 JT) lost 3.3 percent to 5,730 yen. The company’s share price estimate was lowered to 6,600 yen from 7,500 yen by Naoko Matsumoto, an analyst at Citigroup Global Markets Japan Inc.
FujiStaff Holdings Inc. (2147 JQ) jumped 6.9 percent to 14,890 yen. The employment agency operator increased its half- year net income forecast by 25 percent to 650 million yen, following better-than-estimated sales.
Nichiyu Giken Kogyo Co. (4961 JQ) surged 29 percent to 1,320 yen. Nof Corp. (4403 JT) will pay 4.3 shares for each share it doesn’t already own of Nichiyu Giken Kogyo to make the subsidiary wholly owned, NOF said. NOF climbed 2.1 percent to 346 yen.
Ryoyo Electro Corp. (8068 JT) advanced 2.5 percent to 855 yen. The wholesaler of electronic parts will sell its entire stake in Unidux Inc. (9897 JT) to Avnet Inc. (AVT US), Ryoyo said. Unidux was untraded.
Sanyo Electric Logistics Co. (9379 JQ) jumped 10 percent to 1,737 yen. Sanyo Electric Co. (6764 JT) will sell its 57.67 percent stake in Sanyo Electric Logistics to a Longreach Group Ltd. (LRG AU) unit for 1,750 yen a share, and acquire a 5 percent stake in the Longreach unit, Sanyo said. Sanyo Electric Co. climbed 0.8 percent to 127 yen.
Yakult Honsha Co. (2267 JT) advanced 5 percent to 2,258 yen. The company, which makes fermented milk products, was raised to “outperform” from “neutral” by Hiroshi Saji, an analyst at Mizuho Securities Co. The share price estimate was also raised to 2,880 yen from 2,630 yen.