Fukuoka Financial, Honeys, Izumi, Renesas, Showa Denko: Japanese Stocks
Japan’s Nikkei 225 Stock Average fell 58.39, or 0.6 percent, to 9,279.65 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.
Dena Co. (2432 JT) tumbled 7.7 percent to 2,174 yen. The operator of auction and shopping websites said monthly page views dropped in June for the first time since September.
Fujifilm Holdings Corp. (4901 JT) rose 1.8 percent to 2,622 yen. The maker of film used in liquid-crystal-display panels was raised to “overweight” from “equal-weight” by Masahiro Nakanomyo, an analyst at Barclays Capital in Tokyo.
Honeys Co. (2792 JT) jumped 6 percent to 1,235 yen, the highest close since June 2008. The apparel maker expects a 28 percent gain in net income to 2.25 billion yen ($25.7 million) this fiscal year.
Izumi Co. (8273 JT) dropped 3.3 percent to 1,179 yen. The shopping-center operator said first-quarter net income fell 28 percent to 2.01 billion yen, aided by lower personnel and utility costs.
JX Holdings Inc. (5020 JT) gained 3.4 percent to 460 yen, the largest increase in the Nikkei 225. Japan’s biggest oil refiner is in talks with China Petroleum and Chemical Corp. (600028 CH) to jointly build a lubricant plant in China, the Yomiuri newspaper said.
Mandom Corp. (4917 JT) slid 2.1 percent to 2,334 yen, the lowest close since Nov. 30. The cosmetics maker’s operating profit probably fell 5 percent in the three months ended in June on weaker sales of cosmetics in Japan, Nikkei English News reported.
Nachi-Fujikoshi Corp. (6474 JT) climbed 4.5 percent to 257 yen, after the bearing maker reported first-half net income of 1.82 billion yen from a net loss of 4.76 billion yen a year earlier, buoyed by sales growth and cost cuts.
Nichi-iko Pharmaceutical Co. (4541 JO) plunged 9.5 percent to 2,990 yen, the biggest drop since October 2008. The prescription-drug maker had its stock-price estimate cut to 4,000 yen from 4,200 yen by JPMorgan Chase & Co. Morgan Stanley also lowered Nichi-iko’s target price to 3,500 yen from 4,000 yen. Both brokerages left their “overweight” rating unchanged.
Renesas Electronics Corp. (6723 JT) increased 2.4 percent to 775 yen. The chipmaker will buy Nokia Oyj’s (NOK1V FH) wireless-modem business for $200 million. The companies will also develop modem technology, Renesas said in a statement.
Showa Denko K.K. (4004 JT) gained 1.9 percent to 164 yen. The maker of chemical products may report half-year operating profit that exceeds a previous forecast by about 1 billion yen, as its electronics and aluminum units returned to profitability, Nikkei English News reported.