GS Yuasa, Nitto Denko, Pigeon, Rakuten, Sawai Pharmaceutical: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 135.82, or 1.5 percent, to 9,062.84 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
LCD-related companies: A decline in prices for liquid crystal panels will slow and shipping volume of the panels for televisions will start recovering this month, Goldman Sachs Group Inc. analyst Takashi Watanabe wrote in a Japanese-language report dated yesterday. Nitto Denko Corp. (6988 JT) jumped 5.6 percent to 2,861 yen, rising the most since Dec. 3. JSR Corp. (4185 JT) climbed 4.3 percent to 1,288 yen. Zeon Corp. (4205 JT) leapt 4.6 percent to 611 yen. The companies provide LCD-related materials.
Cosmo Oil Co. (5007 JT) advanced 3.4 percent to 216 yen. The refiner was raised to “hold” from “sell” at Citigroup Global Markets Japan Inc.
Elpida Memory Inc. (6665 JT) slumped 3.7 percent to 918 yen, a level not seen since July 2009. Japan’s sole maker of computer-memory chips had its share price estimate reduced to 1,050 yen from 1,500 yen at UBS AG.
GS Yuasa Corp. (6674 JT) jumped 5.7 percent to 559 yen. The maker of storage batteries was increased to “outperform” from “neutral” at Credit Suisse Group.
Megane Top Co. (7541 JT) soared 12 percent to 630 yen, the steepest increase since November 2008. The eyeglass retailer said same-store sales in August increased 0.5 percent.
Mitsui O.S.K. Lines Ltd. (9104 JT) gained 2.8 percent to 548 yen. The shipping line has extended the depreciation period for its LNG transport vessels to 20 years from 13 years, Nikkei English News said, without citing anyone. The change may raise its fiscal 2010 group pretax profit by more than 5 billion yen ($59.2 million), the report said.
Pigeon Corp. (7956 JT) tumbled 15 percent to 2,585 yen, the sharpest drop since December 2001. The maker of baby-care products reported a 16 percent decline in first-half net income to 1.09 billion yen. Sales increased 3.7 percent.
Point Inc. (2685 JT) dropped 1.8 percent to 3,855 yen, the lowest close since February 2009. The apparel chain said same- store sales dropped 4.6 percent in August with a 7.1 percent decline in average spending per customer.
Rakuten Inc. (4755 JQ) fell 2.6 percent to 60,000 yen on speculation the Internet shopping site operator may sell new shares. Shares pared an earlier slump after the company’s spokesman said it had no plans to sell shares or raise capital.
Sawai Pharmaceutical Co. (4555 JT) plunged 12 percent to 7,460 yen, falling the most since September 2004. Japan’s second-largest generic drug maker plans to sell as much as 30 billion yen in five-year convertible bonds, according to a filing with Japan’s finance ministry.
Secom Co. (9735 JT) jumped 3.9 percent to 3,850 yen, gaining the most since Dec. 3. The security services company was rated “buy” in new coverage at BNP Paribas.
Showa Shell Sekiyu K.K. (5002 JT) gained 3 percent to 644 yen. The oil refiner was rated “buy” in new coverage at Deutsche Bank AG.
Star Micronics Co. (7718 JT) surged 7.9 percent to 791 yen. The maker of electronic cards reversed its full-year forecast to an operating profit of 800 million yen from a loss of 1 billion yen. The company also said it will spend as much as 850 million yen to buy back up to 2.27 percent of its outstanding shares.
Sumitomo Metal Mining Co. (5713 JT) rose 2.7 percent to 1,131 yen. Japan’s top nickel producer and second-largest copper smelter was rated “buy” in new coverage at Deutsche Bank AG.
Tokyo Rakutenchi Co. (8842 JT) leapt 5.5 percent to 343 yen, rising the most since December 2008. The real-estate company said it plans to spend as much as 560 million yen to buy back up to 2.6 percent of its outstanding shares.
Uchida Yoko Co. (8057 JT) jumped 5.3 percent to 238 yen. The office-equipment trader will spend as much as 1 billion yen to repurchase up to 7.44 percent of its outstanding shares. The company forecast it will have 500 million yen in net income this fiscal year, recovering from the loss of 2.09 billion yen it posted for the year just ended.
Yamato Holdings Co. (9064 JT) climbed 4.5 percent to 1,065 yen. Nippon Express Co. (9062 JT) advanced 4.3 percent to 314 yen. The parcel-delivery service companies were rated “outperform” in new coverage at Macquarie Group Ltd.