Bridgestone, DCM, Honda, Kewpie, Monex, Shinsei Bank, Tamron: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 191.04, or 2 percent, to 9,191.60 at 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.
Bridgestone Corp. (5108 JT) rose 1.1 percent to 1,430 yen, and Sumitomo Rubber Industries Ltd. (5110 JT) jumped 3.7 percent to 817 yen. The tiremakers were boosted to “neutral” from “sell” by Yuichiro Isayama, an analyst at Goldman Sachs Group Inc.
Culture Convenience Club Co. (4756 JT) slid 3.4 percent to 402 yen. The video-rental chain said it abandoned a plan to acquire HMV Japan after failing to reach agreement with Daiwa Securities SMBC Principal Investments, which owns the music chain.
DCM Japan Holdings Co. (3050 JT) retreated 4.7 percent to 466 yen, the sharpest drop since February 2009. The home-center chain said first-quarter profit fell 20 percent from a year earlier to 2.35 billion yen (27 million).
Honda Motor Co. (7267 JT) fell 3.3 percent to 2,512 yen, its lowest close since July 2009. The automaker will recall 165 Civic and Stream models in China due to air bag defects, the nation’s General Administration of Quality Supervision, Inspection and Quarantine said.
Kewpie Corp. (2809 JT) gained 0.8 percent to 1,029 yen. The mayonnaise maker said first-half net income rose 54 percent from a year earlier to 6.24 billion yen.
Kobe Steel Ltd. (5406 JT) declined 2.3 percent to 167 yen. Japan’s fourth-largest mill may start construction of a planned $1 billion steel plant in Vietnam next month, the Southeast Asian nation’s government said.
Nippon Steel Corp. (5401 JT) fell 2 percent to 290 yen, JFE Holdings Inc. (5411 JT) declined 3.2 percent to 2,692 yen, and Sumitomo Metal Industries Ltd. (5405 JT) slid 4.9 percent to 193 yen. The steelmakers plan a combined 686 billion yen in spending on plant and equipment during this fiscal year, 0.8 percent less than a year earlier, the Tekko Shimbun newspaper reported.
Oracle Corp. Japan (4716 JT) rose 2.3 percent to 4,470 yen. The Japanese unit of the U.S. software maker said full-year net income rose 0.5 percent from a year earlier to 22.9 billion yen.
Point Inc. (2685 JT) tumbled 4.6 percent to 4,655 yen, the sharpest drop since May 21. The apparel chain said first-quarter net income fell 21 percent from a year earlier to 1.85 billion yen, while sales rose 6.9 percent to 23.2 billion yen.
Rakuten Inc. (4755 JQ) rose 1.4 percent to 65,000 yen. The Japanese operator of retail websites said it plans to expand online services to 27 countries from six, and raise the overseas proportion of transactions to 70 percent.
Shinsei Bank Ltd. (8303 JT) declined 1.3 percent to 75 yen. The lender received a business improvement order from Japan’s financial regulator after posting its second straight loss in the last fiscal year.
Softbank Corp. (9984 JT) fell 4.4 percent to 2,267 yen. Japan’s third-largest mobile-phone operator said its affiliate Yahoo Japan Corp. (4689 JT) was ordered to pay 26.5 billion yen extra taxes in the quarter through June 30. Yahoo Japan fell 3.2 percent to 34,500 yen.
Sony Corp. (6758 JT) fell 3.7 percent to 2,296 yen. The electronics company said it’s recalling 535,000 Vaio personal computers because they may overheat due to a temperature control defect.
Tokyo Tatemono Co. (8804 JT) dropped 3.6 percent to 267 yen, its lowest close since March 2009. The property developer said first-half net income totaled 1.5 billion yen, 57 percent less than forecast, according to a preliminary earnings statement.