Amada, Avex, Dena, Elpida, Itoki, Japan Tissue, Sony, Sharp: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 325.20, or 3.6 percent, to 8,824.06 as of the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Amada Co. (6113 JT) tumbled 6.4 percent to 499 yen, falling the most since April 2009. The world’s biggest maker of steel- sheet processing machinery had its 12-month share price estimate cut to 760 yen from 860 yen at Nomura Holdings Inc.
Avex Group Holdings Inc. (7860 JT) rose 0.9 percent to 1,221 yen. The maker of CDs and DVDs boosted its net income forecast for the six months ending Sept. 30 sixfold to 3 billion yen ($35.5 million), as sales of products related to a Japanese cartoon film climbed.
Dena Co. (2432 JT) advanced 3.4 percent to 2,518 yen. The operator of auction and shopping Web sites was raised to “outperform” from “underperform” at Mizuho Securities Co. The brokerage boosted its 12-month share price estimate to 3,300 yen from 1,190 yen.
Digital Garage Inc. (4819 JQ) leapt 5.4 percent to 151,000 yen. The provider of a Twitter blog service in Japan advanced after the Nikkei newspaper said Twitter Inc. (2903130Z US) will post a profit in its Japanese business.
Elpida Memory Inc. (6665 JT), Japan’s sole maker of computer-memory chips, plunged 7.3 percent to 1,009 yen. Goldman Sachs Group Inc. analyst Ikuo Matsuhashi lowered his operating profit forecast for this fiscal year to 114 billion yen ($1.35 billion) from 144 billion yen, citing weaker demand for personal computers and a delay in the recovery of computer production in Taiwan, according to a report dated yesterday.
Itoki Corp. (7972 JT) rose 2.2 percent to 235 yen. The maker of office furniture and equipment said it will spend as much as 300 million yen to buy back up to 1.91 percent of its outstanding shares.
Japan Tissue Engineering Co. (7774 JQ) soared by the daily limit of 10,000 yen, or 18 percent, to 66,000 yen, the sharpest increase since December 2008. The medical biotechnology company plans to raise 3.98 billion yen by selling 75,500 shares to Fujifilm Holdings Corp. (4901 JT). Fujifilm will become the biggest shareholder of Japan Tissue with a 41.3 percent stake, the document said. Fujifilm lost 2.7 percent to 2,550 yen.
Koito Manufacturing Co. (7276 JT) gained 0.6 percent to 1,160 yen. The auto-parts company had its rating increased to “positive” from “neutral plus” at Toward the Infinite World Inc.
Shinseido Co. (7415 JQ) surged by the daily limit of 30 yen, or 77 percent, to 69 yen, the steepest gain since its listing in November 1994. The music retailer will start selling mobile phones, aiming to cover a drop in demand for CDs, the Nikkei newspaper reported without citing anyone.
Sony Corp. (6758 JT) sank 3.7 percent to 2,368 yen. Sharp Corp. (6753 JT) declined 5.1 percent to 804 yen, the lowest close since April 2009. Sony may cancel a plan to raise its stake in a Sharp display-panel unit to 34 percent from 7 percent, the Nikkan Kogyo newspaper reported, without saying where it obtained the information.
Sony was sued by a unit of U.S. defense contractor L-3 Communications Holdings Inc. (LLL US) and accused of infringing on two patents for image sensors used in video cameras, computers and security systems.
United Arrows Ltd. (7606 JT) jumped 2.7 percent to 1,163 yen. ABC-Mart Inc. (2670 JT), a shoe retailer, will sell its 24.3 percent stake of the apparel chain back to the company, ABC said. ABC-Mart slumped 5.4 percent to 2,522 yen.