Askul, GS Yuasa, Kenedix, Mitsubishi Chemical, Seven & I: Japanese Stocks
Japan’s Nikkei 225 Stock Average rose 12.11, or 0.1 percent, to 9,203.71 as of 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.
Askul Corp. (2678 JT) gained 5.5 percent to 1,601 yen. The distributor of office equipment forecast operating profit for this current fiscal year will be 8 billion yen, compared with 7.01 billion yen a year earlier.
GS Yuasa Corp. (6674 JT) dropped 3.3 percent to 565 yen. Toshiba Corp. (6502 JT) is working with Mitsubishi Motors Corp. (7211 JT) to develop lithium-ion batteries for possible use in electric vehicles, Toshiba said in a statement. GS Yuasa has a partnership with the carmaker to provide lithium-ion cells for Mitsubishi’s electric cars. Toshiba climbed 1.6 percent to 446 yen. Mitsubishi Motors was unchanged to 112 yen.
Hiday Hidaka Corp. (7611 JT) rallied 6.1 percent to 1,109 yen, its biggest advance since April 2009. The noodle-shop chain’s first-quarter net income surged 83 percent to 533 million yen on a parent basis, the company said.
Hitachi Ltd. (6501 JT) rose 1.9 percent to 321 yen. The Japanese heavy equipment maker and two Mitsubishi group companies will spin off their hydroelectric units into a new company next year to boost sales overseas, Nikkei English News reported, without saying where it obtained the information.
Itochu Corp. (8001 JT) fell 1.7 percent to 696 yen. The trading house has taken a 20 percent stake in Simbol Mining Corp. to extract lithium from wastewater used during geothermal power generation at a site in California, Nikkei English News reported, without saying where it obtained the information.
JX Holdings Inc. (5020 JT) rose 2.3 percent to 444 yen. The oil refiner said it will build a liquefied-natural-gas facility on Japan’s northern island of Hokkaido.
Kenedix Inc. (4321 JT) declined 4.8 percent to 13,910 yen, the lowest since April 2009. The real-estate-investment company was cut to “reduce” from “buy” by BNP Paribas.
Mitsubishi Chemical Holdings Corp. (4188 JT) advanced 3.1 percent to 428 yen. Mitsubishi Rayon Co. (3404 JT) gained 3.4 percent to 334 yen. The companies said in a statement that Mitsubishi Chemical Holdings will merge its group firms Mitsubishi Rayon and Mitsubishi Chemical Corp.
Nippon Kodoshi Corp. (3891 JQ) surged 18 percent to 1,530 yen, the sharpest advance since February 1999. The maker of electrical insulating paper was rated “buy” in new coverage by Takashi Nishihira, an analyst at Ichiyoshi Securities Co.
NKSJ Holding Inc. (8630 JT)’s Sompo Japan Insurance will spend 200 billion yen over the next three years on overseas mergers and acquisitions, Kyodo News said, citing an interview with President Kengo Sakurada. The stock rose 0.4 percent to 536 yen.
Ohsho Food Service Corp. (9936 JO) rose 1.5 percent to 2,269 yen. The Japanese restaurant operator’s June same-store sales may have fallen 4 percent, the first decline since July 2007, as customer traffic weakened, Nikkei English News reported, without saying where it got the information.
Seven & I Holdings Co. (3382 JT) lost 2.1 percent to 1,983 yen. Japan’s largest operator of convenience stores said first- quarter operating profit sank 11 percent to 52.4 billion yen.