Dowa, Idec, Inpex, Kenedix, Kureha, Nintendo, Nippon Yusen: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 64.04, or 0.7 percent, to 9,621.49 as of 9:31 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.
Dowa Holdings Co. (5714 JT) rallied 3.3 percent to 443 yen. The metal-products smelter’s pretax profit may have risen 70 percent to 6 billion yen ($68.6 million) for the quarter ended in June, helped by sales of electronics materials and rolled copper, Nikkei English News reported.
Idec Corp. (6652 JT) leapt 2 percent to 855 yen. The maker of electronic switches doubled its first-half net income projection to 400 million yen, helped by sales in China and other Asian countries.
Inpex Corp. (1605 JT) increased 2.3 percent to 428,000 yen. Soco International Plc (SIA LN), a U.K. oil and gas explorer, and Japan’s Inpex said they started drilling the first exploration well on land in the Democratic Republic of Congo in at least 30 years.
Kenedix Inc. (4321 JT) jumped 7.4 percent to 15,880 yen. The real-estate-investment company will raise as much as 16.3 billion yen by selling shares to the public and to Itochu Corp. (8001 JT), according to a filing with Japan’s finance ministry. Itochu rose 0.4 percent to 704 yen.
Kureha Corp. (4023 JT) rose 1.6 percent to 460 yen. The maker of chemical products will boost its annual output of materials used in lithium-ion batteries at a factory in Iwaki city to 1,600 tons from the current 600 tons by January 2012 to meet higher demand for used car batteries.
Maruei Department Store Co. (8245 JT) advanced 3.8 percent to 110 yen. The retailer said it will sell 30 million new shares to Kowa Co., a closely held trading house, to raise 3.43 billion yen. Separately, Maruei widened its full-year net loss outlook to 4.82 billion yen from 1.28 billion yen.
Nintendo Co. (7974 JO) slid 1.9 percent to 24,560 yen. U.S. sales of Nintendo’s DS handheld video-game player fell by a third in June amid an overall decline in U.S. video-game sales to $1.17 billion.
Nippon Yusen K.K. (9101 JT) gained 2.4 percent to 340 yen. The shipping line may have posted pretax profit of about 30 billion to 35 billion yen for the quarter ended June on higher shipping demand, especially in emerging markets, Nikkei English News reported.
Sakata Seed Corp. (1377 JT) rallied 2.7 percent to 1,191 yen, set for the biggest gain since Nov. 30. The seed wholesaler said it expects a 30 percent gain in net income to 1.3 billion yen this fiscal year.
Toyo Tanso Co. (5310 JT) declined 4.6 percent to 4,065 yen, headed for the largest drop since Nov. 27. The maker of carbon and graphite products said full-year net income fell 44 percent to 1.44 billion yen, with falling sales.