ABC-Mart, Automakers, Fast Retailing, Taiyo Yuden, Takefuji: Equity Movers
Japan’s Nikkei 225 Stock Average rose 310.95, or 3.2 percent, to 9,914.19 as of 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.
Automakers: Nissan Motor Co. (7201 JT) gained 4.8 percent to 673 yen, the sharpest rise since Dec. 22. Japan’s third- largest automaker yesterday reported a 24 percent increase in U.S. sales in May from a year earlier. Toyota Motor Corp. (7203 JT), the world’s biggest automaker, posted a 6.7 percent sales gain and Honda Motor Co.’s (7267 JT) sales were up 19 percent.
Toyota rose 3.6 percent to 3,350 yen, while Honda advanced 4.3 percent to 2,829 yen, the largest rise since July 30, 2009. Also, Honda reopened a parts plant in China as most workers ended a walkout that shut all of the company’s production in the country.
Shipping lines: Nippon Yusen K.K. (9101 JT) rallied 4.7 percent to 336 yen and Mitsui O.S.K. Lines Ltd. (9104 JT) rose 4 percent to 655 yen. Kawasaki Kisen Kaisha Ltd. (9107 JT) leapt 5.7 percent to 371 yen. The shipping companies had their equity ratings boosted by Satoru Kunieda, an analyst at Mizuho Securities Co. Mizuho raised its rating on Nippon Yusen and Mitsui O.S.K. to “outperform,” while the brokerage lifted Kawasaki Kisen’s rating to “neutral.”
ABC-Mart Inc. (2670 JT) dropped 1.5 percent to 3,215 yen. The shoe retailer said same-store sales in May rose 0.2 percent from a year earlier, less than the previous month’s 3.6 percent advance. The number of customers at existing stores jumped 8.6 percent in May, while sales per customer plunged by 7.7 percent, ABC-Mart said in a release.
Alps Electric Co. (6770 JT) soared 9.2 percent to 883 yen, a level not seen since September 2008. The auto-electronics maker had its stock-price estimate increased to 700 yen from 600 yen by Kota Ezawa, an analyst at Citigroup Global Markets Japan Inc., who left the “sell” rating unchanged.
Fast Retailing Co. (9983 JT), Japan’s largest clothing chain operator, jumped 7.2 percent to 13,340, the biggest increase since Oct. 5, after sales at its Uniqlo chain in Japan gained for the first time in three months. Sales at stores open at least a year in Japan gained 3.1 percent in May from the same month in 2009, helped by promotions, Fast Retailing said in a statement.
Itochu Corp. (8001 JT) rose 4.2 percent to 749 yen. The trading house and General Electric Co. (GE US) have entered a partnership involving renewable energy operations, such as wind and solar power, Nikkei English News reported.
NTT Urban Development Corp. (8933 JT) gained 4.3 percent to 78,000. The developer’s stock-price estimate for 12 months was raised to 93,000 yen from 81,000 yen by Hirokazu Anai, a Tokyo- based analyst at JPMorgan Chase & Co., who maintained the “neutral” rating.
Panasonic Corp. (6752 JT) advanced 4.5 percent to 1,196 yen. The electronics maker said it will begin selling the world’s lightest convertible tablet notebook PC in Japan on June 25, Nikkei English News reported.
Promise Co. (8574 JT) rallied 9 percent to 620 yen. Japan’s second-largest consumer lender by market value was rated “neutral” by UBS AG. The brokerage had previously rated “sell” on Promise.
Senshu Electric Co. (9824 JT) rose 4.3 percent to 920 yen. The distributor of cable and wire products reported first-half net income of 432 million yen from a net loss a year earlier as sales grew.
Sumitomo Electric Industries Ltd. (5802 JT) leapt 4 percent to 1,105 yen. The electric-wire maker plans to start a 50-50 joint venture in China to make fiber-optic parts, Nikkei English News reported.
Taiyo Yuden Co. (6976 JT) jumped 9 percent to 1,238 yen, rising the most since May 2009. The electronic-component maker was boosted to “outperform” from “underperform” by George Chang, a Tokyo-based analyst at Macquarie Group Ltd., who also increased the target price to 1,450 yen from 1,100 yen.
Takefuji Corp. (8564 JT) surged 12 percent to 302 yen, the biggest advance since Nov. 5. Japan’s third-largest consumer lender said it will redeem 41.4 billion yen of 1.5 percent convertible bonds on June 19.
United Arrows Ltd. (7606 JT) rose 3.7 percent to 1,120 yen. The apparel chain said same-store sales in May rose 4.9 percent, buoyed by a 6.7 percent gain in customer traffic.
Yaskawa Electric Corp. (6506 JT) increased 4.9 percent to 735 yen. The maker of servomotors and controllers said it will set up a new company in India to meet increasing demand in the country.