Eisai, Ichibanya, Mizuho, Showa Shell, Teijin, Tokyo Steel: Equity Movers
Japan’s Nikkei 225 Stock Average fell 43.54, or 0.5 percent, to 9,693.94 at the close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
CFS Corp. (8229 JT) sank 2.1 percent to 520 yen. The supermarket chain said first-quarter operating profit dropped 75 percent to 39 million yen ($436,300) on falling sales. Net income totaled 19 million yen compared with a net loss of 311 million yen a year earlier when it took a charge on inventory.
Eisai Co. (4523 JT) increased 1.2 percent to 3,035 yen. The company plans to start a pharmaceutical research and development laboratory in India as early as next year, the Financial Express reported, citing Sanjit Singh, president of Eisai Knowledge Centre.
Ichibanya Co. (7630 JT) climbed 1 percent to 2,259 yen. The curry-restaurant operator said in a preliminary earnings statement full-year net income unexpectedly rose to 1.77 billion yen on lower costs. The company had forecast a 1.55 billion yen profit and earned 1.63 billion yen a year earlier.
Kenedix Inc. (4321 JT) tumbled 15 percent to 15,800 yen, the steepest drop since February 2009. The real-estate- investment company doubled its first-half net loss estimate to 1.6 billion yen, citing a charge on the sale of overseas assets. Also, Kenedix registered to sell as much as 15 billion yen in shares, according to a filing with the nation’s finance ministry.
Mizuho Financial Group Inc. (8411 JT) declined 2.6 percent to 149 yen. Japan’s second-largest publicly traded bank by assets plans to raise as much as 857.6 billion yen by selling shares to the public, according to a filing with the nation’s finance ministry.
Shinsei Bank Ltd. (8303 JT) slid 4.9 percent to 78 yen, the lowest close since March 2009. The lender’s target share price was reduced to 88 yen from 100 yen by Shinichi Ina, a Tokyo- based analyst at Credit Suisse Group AG.
Showa Shell Sekiyu K.K. (5002 JT) declined 2.3 percent to 632 yen. The Japanese refining arm of Royal Dutch Shell Plc was rated “underperform” in new coverage by Credit Suisse Group AG analyst Yuji Nishiyama.
Tokyo Steel Manufacturing Co. (5423 JT) advanced 0.9 percent to 1,013 yen. The company has started supplying steel sheets to auto-parts makers affiliated with Toyota Motor Corp. and Nissan Motor Co., the Nikkei newspaper said.
Toyota Motor Corp. (7203 JT) slid 1.1 percent to 3,100 yen. The world’s largest automaker said it halted sales of a new hybrid Lexus model because too much fuel spilled in government crash tests, posing a fire risk.
Trend Micro Inc. (4704 JT) dropped 1.4 percent to 2,504 yen. The company’s pretax profit for the six months ending in June may fall 20 percent from a year earlier to between 12 billion and 13 billion yen, Nikkei English News reported, without saying where it got the information.