Daikin, Fujikura, Iseki, NS Solutions, Pasona, Sapporo: Japanese Equities
Japan’s Nikkei 225 Stock Average fell 21.63, or 0.2 percent, to 9,278.83 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.
General contractors: Kajima Corp. (1812 JT), Shimizu Corp. (1803 JT), Taisei Corp. (1801 JT) and Obayashi Corp. (1802 JT) were rated “underperform” in new coverage at Mizuho Securities Co. Kajima slid 1.5 percent to 203 yen. Shimizu declined 1.9 percent to 319 yen. Taisei dropped 1.7 percent to 177 yen. Obayashi sank 2.2 percent to 362 yen.
Daikin Industries Ltd. (6367 JT) climbed 2.3 percent to 2,986 yen. The air-conditioner maker was rated “overweight” in new coverage at JPMorgan Chase & Co.
Fujikura Ltd. (5803 JT) jumped 4.1 percent to 380 yen. The cable maker was raised to “buy” from “underperform” at BofA- Merrill Lynch, according to Kabutocho.net, a website run by the Nihon Securities Journal.
Fujitsu General Ltd. (6755 JT) jumped 3.6 percent to 434 yen. The maker of air-conditioning units was rated “overweight” in new coverage at JPMorgan Chase & Co.
Goldcrest Co. (8871 JT) surged 8.9 percent to 1,716 yen, the sharpest gain since March 2009. The condominium developer was raised to “outperform” from “underperform” at Mizuho Securities Co.
Iseki & Co. (6310 JT) leapt 3.8 percent to 221 yen. The agricultural machinery maker agreed to form an equally owned venture with Dongfeng Motor Group Co. (489 HK) to manufacture and sell agricultural machinery in China. The venture will be formed this year, the Japanese machinery maker said in a statement to the Tokyo Stock Exchange, without disclosing financial terms.
NS Solutions Corp. (2327 JT) advanced 3.7 percent to 1,689 yen. The system consulting services company was increased to “neutral plus” from “neutral” at Mito Securities Co.
Pasona Group Inc. (2168 JT) tumbled 5.8 percent to 53,900 yen, the lowest close since June 2009. The temporary staff services provider booked a 35 percent decline in profit with a 16 percent drop in sales for the year ended May 31.
Sapporo Holdings Ltd. (2501 JT) rose 2.3 percent to 393 yen. The beverage maker may report a first-half operating profit exceeding 1 billion yen ($11.5 million), compared with the company’s forecast of a 500 million yen loss, Nikkei English News reported, without saying where it got the information.