ABC-Mart, Alconix, Focus Systems, Meidensha, Tosei Corp.: Japanese Stocks
Japan’s Nikkei 225 Stock Average fell 156.11, or 1.7 percent, to 9,110.67 as of 9:30 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
ABC-Mart Inc. (2670 JT) declined 3.1 percent to 3,265 yen. The shoe retailer said same-store sales in June dropped 1.5 percent from a year earlier, dragged down by per-customer sales which plunged by 6.9 percent.
Alconix Corp. (3036 JT) jumped 8.8 percent to 3,030 yen, headed for the steepest advance since Nov. 26. The maker of non- ferrous metal products said it will conduct a 2-for-1 stock split.
Focus Systems Corp. (4662 JQ) surged 17 percent to 260 yen, headed for the biggest gain since March 2002. The computer- software developer said it will buy back as much as 2.9 percent of its shares.
Meidensha Corp. (6508 JT) slumped 3.6 percent to 295 yen, set for the lowest close since May 2009. The electrical machinery maker’s stock price estimate for 12 months was lowered to 300 yen from 450 yen by Yukihiko Shimada, Mitsubishi UFJ Morgan Stanley Securities Co., who maintained a “market perform” rating on Meidensha.
Tosei Corp. (8923 JT) tumbled 7.2 percent to 29,700 yen. The property developer said first-half net income fell 28 percent to 948 million yen on a 32 percent drop in sales.