ABC-Mart, Idemitsu, NSK, Nisshin Oillio, NTT Data, Suzuki: Japanese Stocks
Japan’s Nikkei 225 Stock Average fell 204.67, or 2.1 percent, to 9,489.34 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.
ABC-Mart Inc. (2670 JT) declined 4.9 percent to 2,670 yen. The shoe retailer said same-store sales in July dropped 3 percent from a year earlier as the number of customers declined 2.3 percent.
Akebono Brake Industry Co. (7238 JT) leapt 6.8 percent to 457 yen, the sharpest increase since Nov. 19. The brake products maker doubled its full-year net income outlook to 4 billion yen ($46.8 million), saying it has had more orders than expected.
Daikoku Denki Co. (6430 JT) plunged 7.7 percent to 1,064 yen, the lowest close since December 2008. The maker of computer systems used in the operation of pachinko parlors booked 22 million yen in net loss for the three months ended June 30, compared with a profit of 971 million yen a year earlier. Sales slumped 45 percent.
Daikyo Inc. (8840 JT) retreated 5.5 percent to 138 yen. The condominium developer said net income for the three months ended June 30 slumped 96 percent to 50 million yen as sales declined.
Gunze Ltd. (3002 JT) jumped 6.7 percent to 287 yen, the steepest increase since June 2009. The maker of plastic film said it will buy back up to 1.43 percent of its outstanding shares. The company also said first-quarter net income rose 62 percent to 1.03 billion yen from a year earlier.
Idemitsu Kosan Co. (5019 JT) rose 3.8 percent to 6,800 yen. The oil explorer said it expects 9.5 billion yen of net income in the six months ending September, compared with a previous 4 billion yen loss estimate, because of higher prices for crude oil and naphtha.
Kubota Corp. (6326 JT) fell 2.8 percent to 668 yen. The industrial machinery maker’s share-price estimate was reduced to 1,020 yen from 1,120 yen at Barclays Capital.
NSK Ltd. (6471 JT) slumped 6 percent to 594 yen, the sharpest slide since June 2009. The bearing maker had its share- price estimate cut to 770 yen from 800 yen at Barclays Capital.
Nisshin Oillio Group Ltd. (2602 JT) plunged 5 percent to 402 yen, falling the most since January 2009. The cooking oil maker said net income for the April-to-June period slumped 89 percent to 193 million yen as sales dropped.
NTT Data Corp. (9613 JT) tumbled 5.8 percent to 300,000 yen. The unit of Nippon Telegraph & Telephone Corp. (9432 JT) said first-quarter net income declined 22 percent to 5.85 billion yen with lower sales. NTT gained 0.3 percent to 3,605 yen.
Panasonic Corp. (6752 JT) fell 2 percent to 1,098 yen. The electronics maker’s China unit will recall 365,574 refrigerators in China from today due to faulty temperature control components, according to a statement posted on the General Administration of Quality Supervision, Inspection and Quarantine’s website.
Rengo Co. (3941 JT) climbed 4 percent to 578 yen. The cardboard maker booked a 15 percent increase in first-quarter net income to 4.89 billion yen with a 12 percent gain in sales.
Riso Kagaku Corp. (6413 JT) jumped 16 percent to 968 yen. The manufacturer of copying and printing machines said it will spend as much as 500 million yen to buy back up to 1.94 percent of its outstanding shares. The company also said it will cancel 3.52 percent of its outstanding shares.
Riso Kagaku’s first-quarter net income more than tripled to 1.15 billion yen from 307 million yen a year earlier as sales gained.
Suzuki Motor Corp. (7269 JT) declined 3.8 percent to 1,797 yen. Japan’s second-largest minicar maker’s U.S. sales slumped 44 percent in July.
Sysmex Corp. (6869 JT) surged 8.5 percent to 5,500 yen, the biggest increase since October 2008. The maker of clinical-test equipment said net income grew 58 percent to 1.77 billion yen in the first quarter.
Toray Industries Inc. (3402 JT) rose 1.1 percent to 472 yen. The synthetic-fiber maker forecast full-year net income will reach 37 billion yen, 48 percent higher than its earlier projection. The company cited costs cuts and improving profitability from business including information-technology materials, textiles and plastics for the forecast revision.
Ube Industries Ltd. (4208 JT) advanced 1.9 percent to 212 yen. The chemical products maker was raised to “outperform” from “neutral plus” at Cosmo Securities Co.
United Arrows Ltd. (7606 JT) leapt 5.6 percent to 1,149 yen. The apparel chain said same-store sales increased 11 percent in July with a 14.5 percent gain in customer traffic.