Fuji Electric, Mitsubishi Gas, Misawa Homes, Ube Industries: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 62.69, or 0.7 percent, to 9,116.69 as of the 3 p.m. 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.
Dena Co. (2432 JT) slumped 4.3 percent to 2,354 yen. The operator of auction and shopping Web sites said it will no longer disclose monthly data including the number of subscribers and page views.
Fuji Electric Holdings Co. (6504 JT) tumbled 5.4 percent to 210 yen. The maker of heavy electric equipment was cut to “market perform” from “outperform.”
Inaba Seisakusho Co. (3421 JT) leapt 4.4 percent to 836 yen, the biggest increase since March 2009. The utility shed maker said in a preliminary earnings statement full-year net income amounted to 280 million yen ($3.28 million), citing cost cuts and improved efficiency after closing a plant. The company had forecast a 250 million yen loss.
Misawa Homes Co. (1722 JT) advanced 3.7 percent to 390 yen. The homebuilder and Toyota Motor Corp. (7203 JT) plan to develop homes that run entirely on solar power, Nikkei English News said, without citing anyone. Toyota slid 0.8 percent to 3,005 yen.
Mitsubishi Gas Chemical Co. (4182 JT) climbed 4.3 percent to 463 yen. The chemical products maker was raised to “strong outperform” from “outperform” at Mitsubishi UFJ Morgan Stanley Securities Co.
Nissha Printing Co. (7915 JT) rallied 3.9 percent to 1,903 yen. The maker of film for screens used in mobile phones said it plans to spend as much as 650 million yen to repurchase up to 0.74 percent of its outstanding shares.
Sharp Corp. (6753 JT) retreated 2.5 percent to 832 yen, the lowest close since April 2009. Japan’s largest maker of liquid- crystal displays had its share-price estimate reduced to 920 yen from 1,140 yen at Citigroup Global Markets Japan Inc.
Tokai Carbon Co. (5301 JT) advanced 2.9 percent to 493 yen. The maker of carbon-based industrial products had its 12-month share-price estimate increased to 530 yen from 510 yen at Nomura Holdings Inc.
Ube Industries Ltd. (4208 JT) dropped 3.6 percent to 189 yen, the lowest close since April 2009. The chemical products maker was reduced to “market perform” from “outperform” at Mitsubishi UFJ Morgan Stanley Securities Co.