Asics, Futaba, Isuzu, Oriental Land, Shimadzu, Taiyo Yuden: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 164.58, or 1.7 percent, to 9,653.92 as of the close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Property developers: Mitsui Fudosan Co. (8801 JT), Japan’s biggest property developer, led real-estate companies higher after Miki Shoji Co., a privately held office brokerage company, said Tokyo’s office vacancy rate fell in July from a record high. Mitsui Fudosan rallied 5.7 percent to 1,340 yen, the biggest gain since Nov. 30. Mitsubishi Estate Co. (8802 JT) gained 5.5 percent to 1,277 yen. Sumitomo Realty & Development Co. (8830 JT) advanced 5.5 percent to 1,628 yen. Nomura Real Estate Holdings Inc. (3231 JT) jumped 7 percent to 1,119 yen.
Asics Corp. (7936 JT) rallied 5 percent to 878 yen. The sports-equipment maker said its first-quarter net income tripled to 3.44 billion yen ($40 million) as sales increased 8.3 percent.
Chiyoda Corp. (6366 JT) leapt 3.6 percent to 640 yen after the plant engineering company doubled its first-half net income outlook to 2 billion yen.
EAccess Ltd. (9427 JT) slumped 3.4 percent to 58,900 yen. The broadband provider said first-quarter operating profit dropped 9.1 percent to 4.49 billion yen on lower sales.
Futaba Corp. (6986 JT) sank 6 percent to 1,439 yen, the biggest drop since December 2008. The electronic-parts maker slashed its full-year net income forecast 69 percent to 400 million yen, citing losses from the stronger yen and reduced value for some fixed assets.
Isuzu Motors Ltd. (7202 JT) jumped 6 percent to 264 yen. The maker of light trucks doubled its full-year net-income forecast to 40 billion yen on higher sales in emerging markets.
Kakaku.com Inc. (2371 JT) soared 7.6 percent to 426,000 yen, the highest since at least October 2003. The price-comparison website company said its first-quarter net income jumped 54 percent to 1.03 billion with higher sales.
Keihin Electric Express Railway Co. (9006 JT) climbed 2.6 percent to 822 yen, the steepest advance since Dec. 3. The rail and bus company said first-quarter operating profit rose 16 percent to 5.39 billion yen as sales increased.
K’s Holdings Corp. (8282 JT) leapt 6.7 percent to 1,996 yen, the sharpest increase since May 2009. The electronics retailer said it will spend as much as 4 billion yen to buy back up to 3.49 percent of its total shares. First-quarter net income rose to 2.34 billion yen, compared with 1.87 billion yen a year earlier.
Kuraray Co. (3405 JT) rose 3.9 percent to 1,110 yen. The fiber maker’s first-quarter net income jumped to 5.7 billion yen from 138 million yen a year earlier on growing sales. Kuraray boosted its full-year net income projection by 8.3 percent, it said in a release two hours before the market closed yesterday.
Mitsui Mining & Smelting Co. (5706 JT) advanced 2.9 percent to 247 yen. Japan’s biggest producer of refined zinc reported net income of 6.55 billion yen in the quarter ended June 30 compared with a net loss of 2.66 billion yen a year earlier.
Nissha Printing Co. (7915 JT) plunged 16 percent to 1,980 yen, the lowest since August 2005. The maker of film for screens used in mobile phones slashed its full-year net income forecast by 79 percent on a slump in developed markets including Europe and lower-than-expected demand for computer-related products.
Oriental Land Co. (4661 JT) gained 5.3 percent to 7,600 yen, the biggest gain since October 2008. The operator of Tokyo Disney Resort said its first-quarter net income surged to 6.22 billion yen from 460 million yen a year earlier.
Shimadzu Corp. (7701 JT) slid 1.1 percent to 627 yen. The maker of measuring instruments and precision tools turned to a net loss of 337 million yen in the three months ended June 30 compared with 342 million yen in profit a year earlier.
Taiyo Yuden Co. (6976 JT) lost 3.4 percent to 1,019 yen, the lowest since Dec. 10. The electronic components maker’s stock-price estimate was lowered by ACE Research Institute, Mizuho Securities Co. and Nomura Holdings Inc. ACE cut its target price on Taiyo Yuden to 1,300 yen from 1,500 yen, while Mizuho and Nomura each reduced their target price to 1,500 yen.
Takata Corp. (7312 JT) rose 2.5 percent to 1,675 yen. The auto-parts maker reported net income of 4.02 billion yen for the April-to-June period compared with a net loss of 367 million yen a year earlier.
Trend Micro Inc. (4704 JT) retreated 3.8 percent to 2,442 yen. The security software maker’s second-quarter net income probably totaled 3.2 billion yen, 18 percent less than the company had projected, according to a preliminary earnings statement.