FCC, Idemitsu, Jtekt, Matsuda Sangyo, Obic, Senko, Toshiba: Equity Movers
Japan’s Nikkei 225 Stock Average rose 17.14, or 0.2 percent, to 9,537.94 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.
Electronic parts and chemicals suppliers: Companies are increasing production of digital parts and chemicals because of a shortage for home appliances, Nikkei English News reported, without saying where it got the information. Denki Kagaku Kogyo K.K. (4061 JT) jumped 3.6 percent to 437 yen. Sumitomo Bakelite Co. (4203 JT) advanced 1.3 percent to 468 yen. Toyoda Gosei Co. (7282 JT) gained 1.4 percent to 2,383 yen. Zeon Corp. (4205 JT) increased 1.7 percent to 528 yen.
Casio Computer Co. (6952 JT) slid 2.1 percent to 573 yen, the lowest close since December 2008. The electronics maker recalled about 144,000 AC adapters to fix a defect that may cause electric shock, the company said in a statement.
Daiichikosho Co. (7458 JQ) advanced 3.4 percent to 1,155 yen. The maker of karaoke equipment increased its net income forecast for the six months ending Sept. 30 by 11 percent to 5.25 billion yen ($57.2 million), citing strong sales of new products and lower administrative costs.
Elpida Memory Inc. (6665 JT) rose 1.6 percent to 1,741 yen. The chipmaker may be interested in cooperating with ProMOS Technologies Inc. (5387 TT) to enter the China market, the Economic News Daily reported, without saying where it got the information.
FCC Co. (7296 JT) surged 5.1 percent to 1,797 yen. The clutch maker had its rating increased to “outperform” from “market perform” by Toru Iwai, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co.
Idemitsu Kosan Co. (5019 JT) gained 1.6 percent to 6,360 yen. The oil refiner will invest in Global OLED Technology LLC, a U.S.-based company set up by South Korea’s LG Group, to work on patents related to displays.
Jtekt Corp. (6473 JT) sank 2.8 percent to 868 yen, its lowest close since Nov. 30. The bearing maker will sell new shares to the public and Toyota Motor Corp. (7203 JT) for 866 yen each to raise as much as 17.7 billion yen, according to a filing with the nation’s finance ministry. Toyota lost 0.3 percent to 3,200 yen.
Makino Milling Machine Co. (6135 JT) rallied 4.5 percent to 577 yen. The machine-tool maker said it will spend as much as 2 billion yen to buy back as much as 3.5 percent of its shares.
Matsuda Sangyo Co. (7456 JT) climbed 3.7 percent to 1,420 yen. The wholesaler of precious metals and electronic materials was raised to “buy” from “neutral” by Takashi Watanabe, an analyst at Goldman Sachs Group Inc.
SBI Holdings Inc. (8473 JT) plummeted 10 percent to 13,010 yen, falling the most since October 2008. The venture-capital and financial-services company plans to raise as much as 49.2 billion yen in a public share sale.
Senko Co. (9069 JT) plunged 13 percent to 315 yen, the steepest slide since January 2000. The logistics company plans to raise as much as 5.75 billion yen in a public share sale.
Softbank Corp. (9984 JT) rose 2.3 percent to 2,247 yen. The exclusive provider of Apple Inc.’s (AAPL US) iPhone in Japan, said it will sell the next model of the handset in the country from June 24, with pre-orders beginning June 15.