Alps Electric, Axell, Edion, Inpex, Toyota Motor: Japanese Stocks Movers
Japan’s Nikkei 225 Stock Average fell 7.06, or 0.1 percent, to 9,509.50 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.
Alps Electric Co. (6770 JT), a maker of auto electronics, advanced 3.4 percent to 698 yen. The company will spend as much as 3 billion yen ($35 million) to increase output of touch screens by 40 percent, the Nikkei newspaper said without citing anyone.
Axell Corp. (6730 JT), a maker of semiconductor integrated circuits for graphics and sound, plummeted by the daily limit of 500 yen, or 20 percent, to 2,000 yen, the lowest close since its listing in November 2008. The company slashed its full-year net income forecast by 56 percent to 1.28 billion yen on a parent basis, citing weaker demand for amusement devices. The company plans to cancel 1.3 percent of its shares on Sept 30.
Dai-ichi Life Insurance Co. (8750 JT), Japan’s No. 2 life insurer, slumped 4.2 percent to 101,700 yen. The company’s share-price estimate was cut to 160,000 yen from 210,000 yen at UBS AG.
Dai Nippon Printing Co. (7912 JT), a printing company, retreated 2.8 percent to 1,018 yen. The company had its 12-month share-price estimate reduced to 820 yen from 970 yen at Deutsche Bank AG.
Edion Corp. (2730 JT), an electronics retail chain, climbed 1.5 percent to 614 yen. The company will likely post a 60 percent increase in net income for the April-to-September period to about 5 billion yen, beating its forecast of 3 billion yen, the Nikkei newspaper said without saying where it obtained the information.
Inpex Corp. (1605 JT), Japan’s biggest energy explorer, dropped 3.8 percent to 396,000 yen. The company had its rating reduced to “neutral” from “buy” at UBS AG.
Sharp Corp. (6753 JT), Japan’s biggest maker of liquid crystal display panels, rose 2.6 percent to 893 yen. The company plans to raise output of the components as early as this month at a factory in Sakai, western Japan, after cutting production about 10 percent last month.
Three F Co. (7544 JT), a convenience store chain, increased 3.8 percent to 541 yen, rising the most since October 2008. The company tripled its full-year net income forecast to 300 million yen.
Toyota Motor Corp. (7203 JT), the world’s biggest carmaker, gained 1.7 percent to 3,060 yen. The company may provide hybrid technologies to Daimler AG (DAI GR) at the request of the German automaker, the Nikkan Jidosha newspaper reported, without saying where it obtained the information.