Acom, Casio, DIC, Elpida, Fast Retailing, Ohsho Food, Sanyo: Equity Movers
Japan’s Nikkei 225 Stock Average rose 63.07, or 0.7 percent, to 9,266.78 at 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.
Consumer lenders: Acom Co. (8572 JT) led a surge in consumer-lending companies after the Mainichi newspaper reported that the Osaka government will seek to start a business zone with looser lending rules than national laws.
Acom gained by its upper daily limit of 300 yen, or 26 percent, to 1,444 yen, the steepest rise since at least December 1994. Takefuji Corp. (8564 JT) soared 18 percent to 298 yen. Promise Co. (8574 JT) jumped 17 percent to 685 yen. Credit Saison Co. (8253 JT) gained 9 percent to 997 yen. Aiful Corp. (8515 JT) leapt 24 percent to 135 yen. Marui Group Co. (8252 JT), a department-store operator and consumer lender, rallied 5.7 percent to 626 yen.
Belc Co. (9974 JT) climbed 2.7 percent to 878 yen. The supermarket operator’s first-quarter net income jumped 69 percent to 657 million yen ($7.5 million), the company said.
Casio Computer Co. (6952 JT) advanced 4.1 percent to 559 yen, the biggest gain since Dec. 7. The electronics maker plans to buy back as many as 9 million shares, or a 3.2 percent stake, for as much as 5 billion yen, the company said.
DIC Corp. (4631 JT) jumped 7.4 percent to 145 yen, the sharpest rise since Oct. 26. The ink producer may report operating profit of 8 billion yen in the April-June quarter, exceeding its forecast on demand in Japan, China and other parts of Asia for home-appliance plastics and pigments, Nikkei English News said.
Elpida Memory Inc. (6665 JT) leapt 3.2 percent to 1,331 yen. The maker of computer-memory chips may start making ultra-small dynamic-random-access chips with three Taiwanese companies this month, Nikkei English News said.
Fast Retailing Co. (9983 JT) lost 1.8 percent to 13,190 yen. The clothier’s domestic sales at its Uniqlo casual- clothing chain fell 5.8 percent in June from a year earlier, the company said. The retailer was cut to “neutral” from “buy” by Masafumi Shoda, an analyst at Nomura Holdings Inc.
Kissei Pharmaceutical Co. (4547 JT) fell 3.9 percent to 1,810 yen, the largest drop since Nov. 12. The drugmaker said a planned treatment for overactive bladders failed to reach effectiveness targets in late-stage tests. Kissei was cut to “sell” from “buy” by Hidemaru Yamaguchi, an analyst in Tokyo at Citigroup Inc.
Ohsho Food Service Corp. (9936 JO) slumped 6.4 percent to 2,124 yen, the steepest drop since October 2008. The Chinese 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.
Sanyo Electric Co. (6764 JT) rose 3.5 percent to 118 yen. The electronics maker is in talks to sell its semiconductor operations to ON Semiconductor Corp. (ONNN US) of the U.S. for between 20 billion yen and 30 billion yen, Nikkei English News said, citing a Kyodo News report.
United Arrows Ltd. (7606 JT) jumped 6.9 percent to 1,087 yen. The apparel chain said same-store sales in June rose 2.6 percent, buoyed by higher customer traffic.