JVC Kenwood, Konica Minolta, Nippon Electric Glass, Oracle: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 119.61, or 1.3 percent, to 9,446.71 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Cmic Co. (2309 JT), a provider of medical research, climbed 2.6 percent to 26,790 yen. The company increased the planned yearend dividend to 340 yen from 190 yen.
JVC Kenwood Holdings Inc. (6632 JT), a maker of audio equipment, jumped 9 percent to 291 yen. The stock was rated “neutral plus” in new coverage at Cosmo Securities Co.
Konica Minolta Holdings Inc. (4902 JT), a maker of film used in liquid-crystal displays, declined 3.9 percent to 799 yen. The company had its rating reduced to “hold” from “buy” at Deutsche Bank AG.
Mitsubishi Tanabe Pharma Corp. (4508 JT), a drugmaker, extended a gain on Sept. 22, rising 2.5 percent to 1,365 yen. Novartis AG (NOVN VX) won U.S. regulatory approval earlier this week to sell its multiple sclerosis medicine Gilenya. Mitsubishi Tanabe originally developed the medicine and granted a development right to Novartis.
Nippon Concrete Industries Co. (5269 JT), a concrete manufacturer, advanced 3.1 percent to 132 yen. Nippon Hume Corp. (5262 JT), a sewage pipe maker, slipped 0.8 percent to 243 yen. The companies agreed to buy shares in each other, and to cooperate on technology and overseas expansion.
Nippon Electric Glass Co. (5214 JT), a glassmaker, sank 2.1 percent to 1,107 yen. The company cut its half-year net income forecast to 42 billion yen ($496 million) from its previous outlook of between 49 billion yen and 53 billion yen.
Oracle Corp. Japan (4716 JT), a Japanese unit of software maker Oracle Corp. (ORCL US), tumbled 8.3 percent to 4,080 yen, set for the sharpest slide since October 2008. The company said net income fell 6.7 percent to 4.52 billion yen for the quarter ended Aug. 31 on a parent basis.
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