JSP, Komatsu, Nikon, Okuma, Seiko Epson, Sumco, Teijin, THK: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 242.99, or 2.4 percent, to 10,238.01 as of the close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
China-related machinery makers: Komatsu Ltd. (6301 JT), Asia’s largest earthmover maker that counts China as its fastest-growing market, gained 4.6 percent to 1,782 yen, while smaller rival Hitachi Construction Machinery Co. (6305 JT) jumped 6.7 percent to 1,873 yen after China signaled an end to the yuan’s fixed rate against the dollar.
THK Co. (6481 JT), an industrial machinery maker that gets more than 15 percent of its revenue from Asian countries excluding Japan, rallied 4.6 percent to 2,168 yen. Daikin Industries Ltd. (6367 JT), an air-conditioner maker, which generates almost 30 percent of its sales from Asia that excludes Japan, advanced 4.2 percent to 3,085 yen. Okuma Corp. (6103 JT), a machinery maker that gets nearly 20 percent of its sales from China and other Asian countries but Japan, soared 6.2 percent to 633 yen.
Canon Inc. (7751 JT) rose 2.8 percent to 3,885 yen. The world’s biggest maker of cameras and office equipment will invest 9.1 billion yen to build a printer factory in China, the Nikkei newspaper reported.
Crescendo Investment Corp. (8966 JT) soared 10 percent to 155,600 yen, the sharpest rise since Oct. 7, while Japan Single- Residence REIT Inc. (8970 JT) climbed 1.7 percent to 98,700 yen. The real-estate investment trusts plan to merge in October to create a property trust with about 140 billion yen in assets, Nikkei English News said.
Fuji Foods Inc. (2913 JQ) surged by its upper daily limit of 80 yen, or 29 percent, to 360 yen, the steepest advance since at least December 1993. The delicatessen foods maker and distributor may be taken private in a management buyout. The buyout group offered 500 yen per share for Fuji Foods, valuing it at as much as 7.91 billion yen ($87 million), it said in a release.
Jeans Mate Corp. (7448 JT) slumped 3 percent to 325 yen, the lowest since at least January 1999. The casual-wear retailer said it will offer a severance package program to cut as many as 100 jobs. The company widened its full-year net loss outlook to 3.2 billion yen from 810 million yen, citing a charge related to the jobs reduction and less-than-expected sales.
JSP Corp. (7942 JT) jumped 5.5 percent to 926 yen. The industrial materials maker will spend about 1 billion yen to boost its polypropylene output capacity in China, JSP said on its Web site.
Marubeni Corp. (8002 JT) leapt 4.4 percent to 517 yen. The trading house has formed an alliance with Irkutsk Oil Co. to expand its energy operations in Russia, Nikkei English News said.
Mitsubishi Electric Corp. (6503 JT) advanced 3.9 percent to 797 yen. The electronics maker has won about 1.5 billion yen in an order for 127 elevators and escalators to be installed in a complex of buildings under construction in Shanghai, Mitsubishi Electric said on its Web site.
Monex Group Inc. (8698 JT) rose 3.7 percent to 40,400 yen. The investing service provider said operating revenue in May rose to 2.38 billion yen from 1.68 billion yen a year earlier.
Morinaga & Co. (2201 JT) fell 1 percent to 208 yen. Japan’s fourth-largest confectionary maker will about halve the number of its factories to three or four in a few years, Nikkei English News reported.
Nikon Corp. (7731 JT) rallied 4.2 percent to 1,742 yen. The camera maker said it aims to more than double net income to 65 billion yen in the fiscal year ending March 2013, compared with a projected 30 billion yen for the current fiscal year.
Seiko Epson Corp. (6724 JT) gained 4.8 percent to 1,284 yen. The printer maker will spend about 2 billion yen to more than double production capacity for ink-jet printer plant in Indonesia, the Nikkei newspaper said. Also, Seiko Epson was boosted “overweight” from “neural” by Hisashi Moriyama, a Tokyo-based analyst at JPMorgan Chase & Co.
Sumitomo Corp. (8053 JT) increased 5.2 percent to 1,016 yen, while Sawai Pharmaceutical Co. (4555 JT) dropped 0.6 percent to 8,240 yen. Sawai, a drugmaker, has bought out its venture with Sumitomo, making the generic drug unit a wholly owned subsidiary.
Teijin Ltd. (3401 JT) gained 4.8 percent to 282 yen, the biggest gain since Nov. 20. The textile maker developed a new carbon-fiber material for automobiles that helps boost fuel efficiency, the Nikkei newspaper reported.
Toyota Tsusho Corp. (8015 JT) jumped 6.6 percent to 1,406 yen, its sharpest advance since May 2009. The trading company was raised to “outperform” from “neutral” by Jiro Iokibe, an analyst at Daiwa Securities Group Inc.