Anritsu, NEC, Nitto Denko, Omron, Panasonic, Renesas, Sanyo: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 57.25, or 0.6 percent, to 9,696.02 at 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.
Acom Co. (8572 JT) rose 2 percent to 1,428 yen after Nikkei English News reported pre-tax profit for the April-to-June quarter at Japan’s largest consumer lender by market value may have exceeded 20 billion yen. Acom reported after the market closed that net profit fell 10 percent to 6.5 billion yen ($74 million) as new government lending rules curbed borrowing.
Advantest Corp. (6857 JT) sank 5.2 percent to 1,903 yen. The world’s biggest maker of memory-chip testers had its stock- price estimate lowered to 2,060 yen from 2,120 yen by Toshiya Hari, a Tokyo-based analyst at Goldman Sachs Group Inc., who maintained its “sell” rating.
Anritsu Corp. (6754 JT) jumped 8.1 percent to 505 yen, the highest close since November 2007. The maker of electronic equipment posted first-quarter net income of 89 million yen, rebounding from a year-earlier net loss, as sales gained.
Daido Steel Co. (5471 JT) gained 6.4 percent to 419 yen. The maker of specialty steel products boosted its full-year net income outlook by 52 percent to 17.5 billion yen, citing a recovery in demand from carmakers.
Hitachi Chemical Co. (4217 JT) rose 4.5 percent to 1,784 yen, the steepest gain since July 2009. The chemical maker said first-quarter net income surged 83 percent to 7.98 billion yen as sales rose by a quarter.
Kawasaki Kisen Kaisha Ltd. (9107 JT) gained 2.7 percent to 378 yen after raising its full-year net-income outlook by 78 percent to 32 billion yen.
Media Kobo Inc. (3815 JT) surged by its daily limit of 30,000 yen, or 25 percent, to 150,900 yen, the largest gain since its listing in September 2006. The developer of content for fortune-telling Internet sites said it will split its stock 2-for-1 and will cancel 10 percent of its shares on Aug. 31.
NEC Corp. (6701 JT) lost 3.7 percent to 235 yen. Japan’s largest maker of personal computers reported its first-quarter net loss widened to 43.1 billion yen from 33.8 billion yen a year earlier after sales from its technology-services and phone- network businesses declined.
Nitto Denko Corp. (6988 JT) climbed 1.3 percent to 3,070 yen. The chemical products maker will spend 20 billion yen to boost output capacity of optical film for LCD panels by 30 percent over the next two fiscal years, the Nikkei newspaper reported.
Nippon Yusen K.K. (9101 JT) jumped 5 percent to 358 yen. Japan’s largest shipping line by sales almost doubled its net income forecast to 68 billion yen for this fiscal year as a revival in demand for transporting goods by container to the U.S. and Europe.
Nomura Research Institute Ltd. (4307 JT) tumbled 12 percent to 1,723 yen, the biggest drop since October 2008. The information-technology provider said first-quarter net income fell 33 percent to 4.08 billion yen due to increased personnel costs.
Oki Electric Cable Co. (5815 JT) jumped 6.2 percent to 154 yen. The cable maker reversed its first-half forecast to net income of 80 million yen from a 50 million yen loss, citing recovering orders from machinery and machine tools makers.
Omron Corp. (6645 JO) advanced 2.8 percent to 2,117 yen. The maker of electronic components raised its full-year net income forecast by 48 percent to 29.5 billion yen, citing growing capital investment at home and abroad.
Panasonic Corp. (6752 JT) tumbled 7.7 percent to 1,077 yen, the largest drop since January 2009, while Panasonic Electric Works Co. (6991 JT) soared 15 percent to 1,124 yen, the steepest gain on record. Panasonic Corp., an electronics maker, may buy the shares it doesn’t already own of Panasonic Electric Works and Sanyo Electric Co. (6764 JT) at a combined cost of about 900 billion yen, Nikkei English News reported. Separately, Reuters reported Panasonic may raise up to 500 billion yen from a sale of shares.
Sanyo Electric surged 26 percent to 149 yen, the steepest advance since November 2008. The electronics maker returned to profit in the first quarter and raised its forecast for first- half net income.
Promise Co. (8574 JT) slid 2.5 percent to 673 yen. Japan’s second-largest consumer lender by market value recorded a net loss of 4.25 billion yen in the three months ended June 30, compared with a profit of 8.6 billion yen a year earlier, as revenue fell. Also, JPMorgan Chase & Co. cut its rating on Promise to “underweight” from “neutral.”
Renesas Electronics Corp. (6723 JT) rose 3.5 percent to 857 yen. The electronic components maker plans to fire almost 10 percent of its 50,000 employees by year-end and outsource its chip production, Nikkei English News said, citing an unpublished part of the company’s reorganization plan.
Showa Denko K.K. (4004 JT) gained 3 percent to 170 yen. The maker of ceramics and electronic materials said in a preliminary earnings statement first-half net income totaled 7.7 billion yen, exceeding its 4 billion yen profit forecast, on demand from electronics and car makers.
Sumitomo Rubber Industries Ltd. (5110 JT) advanced 4 percent to 892 yen. Japan’s second-largest tiremaker by market value said in a preliminary earnings statement first-half net income amounted to 10 billion yen, beating its 7 billion yen forecast on recovering overseas demand. Sumitomo Rubber also said it will invest $297 million to expand output in China.
Also, bigger rival Bridgestone Corp. (5108 JT) climbed 2.9 percent to 1,578 yen. Yokohama Rubber Co. (5101 JT) rose 2.4 percent to 478 yen, its highest close since September 2009.
Tadano Ltd. (6395 JT) slumped 4 percent to 431 yen. The crane maker swung to a first-quarter net loss of 995 million yen from net income a year earlier, with a 30 percent drop in sales.
Toho Titanium Co. (5727 JT) climbed 3.1 percent to 2,413 yen. The titanium producer’s first-quarter net loss widened to 1.55 billion yen from 324 million yen a year earlier, dragged down by depreciation costs. The company narrowed its full-year net loss projection to 4.5 billion yen from 4.8 billion yen.