NGK Insulators, Sumitomo Rubber, Suruga Bank, Casio, Tobu: Equity Movers
Japan’s Nikkei 225 Stock Average fell 57.95, or 0.6 percent, to 9,220.88 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.
Mitsui & Co. (8031 JT) advanced 2.3 percent to 1,113 yen. The president of the U.S. subsidiary of the trading company wrote in a statement to the U.S. Senate that BP Plc is responsible for the oil spill in the Gulf of Mexico, including compensation for the damages caused by the accident, Kyodo News reported. Mitsui Oil Exploration Co. has a 10 percent stake in the Macondo well, where the accident occurred.
NGK Insulators Ltd. (5333 JT) climbed 2.2 percent to 1,351 yen. The maker of electrical insulators and industrial ceramic products was raised to “neutral” from “underperform” at Credit Suisse Group.
Shionogi & Co. (4507 JT) jumped 3.8 percent to 1,790 yen. Venture Shionogi-ViiV Healthcare LLCS said it will move an experimental HIV drug into the last stage of clinical testing following promising results.
Suruga Bank Ltd. (8358 JT) rose 3.5 percent to 795 yen. The regional bank said it will spend as much as 4 billion yen ($46.3 million) to buy back up to 2.15 percent of its outstanding shares.
Tobu Store Co. (8274 JT) tumbled 5.2 percent to 253 yen, the sharpest slide since October 2008. The supermarket operator slashed its first-half net income forecast 64 percent to 145 million yen because of declining sales.
Toyo Corp. (8151 JT) sank 3.1 percent to 913 yen. The measuring instruments trader said operating profit for the nine months ended June 30 declined 26 percent to 782 million yen with a drop in sales.