Eisai, Kenedix, Nissha Printing, Orix, Papyless, Shimamura: Equity Movers
Japan’s Nikkei 225 Stock Average rose 4.64, or 0.1 percent, to 9,928.34 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.
Aeon Mall Co. (8905 JT) rose 2.1 percent to 1,844 yen. The shopping mall operator said first-quarter operating profit rose 11 percent to 9.95 billion yen ($110 million) as revenue grew.
Densan Co. (3640 JT) traded at 3,205 yen, 8.4 percent less than its initial offering price of 3,500 yen. The information- services company started trading on the Tokyo Stock Exchange.
Nippon Electric Glass Co. (5214 JT) declined 4.2 percent to 1,063 yen, accelerating a 2.4 percent fall yesterday, after UBS AG cut the equity rating on the glassmaker to “neutral” from “buy.” Nippon Electric’s stock price estimate was lowered to 1,200 yen from 1,700 yen by UBS analyst Takaaki Muramatsu.
Nissha Printing Co. (7915 JT) slid 3.2 percent to 2,484 yen. The maker of film for screens used in mobile phones had its stock price estimate reduced to 2,200 yen from 3,300 yen by Yoshihito Hasegawa, an analyst at Mitsubishi UFJ Morgan Stanley Securities Co., who maintained an “underperform” rating.
Orix Corp. (8591 JT) rose 1.9 percent to 6,960 yen. Tokyo Star Bank Ltd. plans to sell 200,000 preferred shares to Orix for 10 billion yen, according to a filing with Japan’s finance ministry.
Papyless Co. (3641 JQ) was traded at 6,080 yen, more than double its initial offering price of 2,700 yen. The distributor of electronic books was untraded yesterday as bids exceeded offers on its debut on the Osaka Securities Exchange’s Jasdaq market.
Shimamura Co. (8227 JT) leapt 2 percent to 8,300 yen. The apparel retailer said on its Web site yesterday that same-store sales in June rose 3.5 percent from a year earlier as higher temperature boosted sales of T-shirts and summer bedclothes.
Suncity Co. (8910 JT) surged for a second day, rising 20 percent to 4,145 yen, the highest since September 2008, as the condominium developer said it expects to book a gain of about 1.8 billion yen after a creditor agreed to forgive part of its debts. Suncity made the announcement yesterday before the market closed.
Total Medical Service Co. (3163 JQ) was traded at 3,915 yen, 6.8 percent less than its initial offering price of 4,200 yen. The drugstore chain started trading on the Osaka Securities Exchange’s Jasdaq market.