Japan Tobacco, Leopalace21, Nidec Copal, Nippon Sheet Glass: Equity Movers
Japan’s Nikkei 225 Stock Average fell 106.89, or 1.1 percent, to 9,535.23 at the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Asatsu-DK Inc. (9747 JT) fell 2.8 percent to 2,061 yen. Japan’s third-biggest advertising agency said it expects a full- year net loss of 2.5 billion yen ($29 million), citing charges related to a drop in the value of securities. The company had earlier forecast a profit of 100 million yen.
Credit Saison Co. (8253 JT) jumped 3.4 percent to 1,174 yen. The consumer-credit company said first-quarter net income rose 34 percent to 6.75 billion yen, buoyed by cutbacks in advertising and by personnel costs.
Ebara Corp. (6361 JT) surged 8.5 percent to 369 yen, its steepest increase since August 2009. The pump maker posted first-quarter net income of 988 million yen, compared with a net loss of 1.98 billion yen a year earlier, as sales dropped. The company raised its first-half earnings projection.
Edion Corp. (2730 JT) fell 3.5 percent to 681 yen. The electronics retail chain said its first-quarter net loss widened to 3.15 billion yen from 2.47 billion yen a year earlier, citing charges related to asset removals.
Japan Tobacco Inc. (2914 JT) declined 2.1 percent to 283,100 yen. The world’s third-largest publicly traded cigarette maker was cut to “neutral” from “outperform” by Yoshiyasu Okihira, an analyst at Credit Suisse Group AG.
Kojima Co. (7513 JT) tumbled 7.4 percent to 460 yen, the steepest drop since Nov. 13. The electronics retailer said first-quarter net loss was 2.66 billion yen, compared with a profit of 112 million yen a year earlier.
Nidec Copal Corp. (7756 JT) rose 4.7 percent to 1,441 yen. Nidec Corp. (6594 JT) plans to buy an additional 5.1 percent of Nidec Copal, increasing its holding to 66.7 percent, according to a statement. Nidec Corp. fell 3.4 percent to 7,640 yen.
Sharp Corp. (6753 JT) fell 2 percent to 918 yen, Toshiba Corp. (6502 JT) declined 2 percent to 435 yen, and Hitachi Ltd. (6501 JT) dropped 2.1 percent to 365 yen. New York Attorney General Andrew M. Cuomo filed an antitrust action against the electronics makers and other technology companies accused of illegally fixing prices for liquid crystal display screens used in computers, televisions, and cell phones, according to an e- mailed statement.
Ship Healthcare Holdings Inc. (3360 JT) advanced 5.3 percent to 62,000 yen. The medical equipment distributor said first-quarter net income was 1 billion yen, compared with 92 million yen a year earlier.
Sumitomo Metal Mining Co. (5713 JT) tumbled 4.1 percent to 1,142 yen. Japan’s top nickel producer and second-largest copper smelter said it expects operating profit of 79 billion yen in the year ending March, compared with the 90.4 billion yen average of 18 analyst estimates compiled by Bloomberg.
Tokai Carbon Co. (5301 JT) jumped 7.3 percent to 487 yen, the biggest increase since June 2009. The maker of carbon-based industrial products said it will spend as much as 2 billion yen to buy back up to 2 percent of its shares. The company had first-half net income of 2.82 billion yen, rebounding from a year-earlier-loss, as sales jumped by 46 percent.
Toyo Ink Manufacturing Co. (4634 JT) rose 2.4 percent to 346 yen. The maker of printing ink raised its first-half net income forecast by 50 percent to 5.1 billion yen on cost cuts.