Mitsui, Ono, Sankyo, Sumco, Sumitomo Metal, Trend Micro: Japanese Equities
Japan’s Nikkei 225 Stock Average rose 73.79, or 0.8 percent, to 9,098.39 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.
Property developers: Mitsui Fudosan Co. (8801 JT), Japan’s biggest property developer, led real-estate companies lower after Miki Shoji Co., a privately held office brokerage company, said Tokyo’s office vacancy rate rose to a record in August amid increased competition to find tenants.
Mitsui Fudosan slumped 3.6 percent to 1,353 yen. Mitsubishi Estate Co. (8802 JT) slid 1.9 percent to 1,295 yen. Sumitomo Realty & Development Co. (8830 JT) lost 2.1 percent to 1,634 yen. Nomura Real Estate Holdings Inc. (3231 JT) sank 3 percent to 1,151 yen.
Mitsui & Co. (8031 JT), Japan’s second-largest trading house, leapt 2.3 percent to 1,137 yen. The company was raised to “outperform” from “neutral” by Jiro Iokibe, an analyst at Daiwa Securities Group Inc.
Ono Pharmaceutical Co. (4528 JO), a drugmaker, slid 1.9 percent to 3,685 yen. Ono cut its full-year net income outlook 16 percent to 18.5 billion yen ($221 million), citing higher- than-expected costs. Ono also said it formed a license agreement with California-based Onyx Pharmaceuticals Inc. (ONXX US). Ono will pay as much as 24 billion yen to Onyx to obtain exclusive rights to develop and commercialize compounds for all oncology indications in Japan.
Sankyo Co. (6417 JT), a pachinko machine maker, rallied 4.6 percent to 4,325 yen after boosting its full-year net income forecast 28 percent to 37 billion yen, citing higher-than- expected sales of pachinko and pachinko slot machines.
Sumco Corp. (3436 JT), a maker of silicon wafers for semiconductors, slipped 3 percent to 1,274 yen, the lowest since March 2009. The company was cut to “neutral” from “neutral plus” by Masanobu Mizuta, an analyst at Tokyo-based Toward the Infinite World Inc.
Sumitomo Metal Mining Co. (5713 JT), Japan’s second-largest copper smelter, jumped 3.2 percent to 1,194 yen. The company was boosted to “outperform” from “neutral” by Shinya Yamada, a Tokyo-based analyst at Credit Suisse Group.
Trend Micro Inc. (4704 JT), a maker of antivirus software, surged 10 percent to 2,576 yen, the biggest gain since April 2009. The company has been approached for a possible takeover, the DigiTimes reported, citing the anti-virus computer software developer’s chief executive Eva Chen, who didn’t name the possible acquirer.