Komatsu, Nippon Electric, Mars, Nissan, Panasonic, Takefuji: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 131.47, or 1.4 percent, to 9,603.14 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.
Consumer lenders: Takefuji Corp. (8564 JT) was set to drop after the Nikkei newspaper reported the consumer lender may file for bankruptcy protection amid rising refunds to borrowers for interest overpayments. The company’s liabilities were 430 billion yen ($5.1 billion) as of June 30, the report said. Takefuji shares were moved to a watch list by the Tokyo Stock Exchange after the consumer lender released a statement saying it hasn’t decided whether to file for bankruptcy protection.
Acom Co. (8572 JT) plunged 10 percent to 1,344 yen, the biggest drop since Jan. 2009. Promise Co. (8574 JT) sank 11 percent to 689 yen. Aiful Corp. (8515 JT) tumbled 22 percent to 90 yen. Marui Group Co. (8252 JT), a retailer and consumer lender, slid 2.1 percent to 640 yen.
Komatsu Ltd. (6301 JT), the world’s second-largest construction-equipment maker, rallied 3.2 percent to 1,935 yen. The company’s stock-price estimate was boosted to 2,150 yen from 1,900 yen by Shinji Kuroda, a Tokyo-based analyst at Credit Suisse Group AG, who maintained the “outperform” rating.
Mars Engineering Corp. (6419 JT), a maker of equipment for pachinko parlors, sank 6.5 percent to 1,350 yen, the lowest since Jan. 2008. The company more than halved its full-year net income forecast to 1.6 billion yen from 3.87 billion yen as sales declined.
Nippon Electric Glass Co. (5214 JT), a glassmaker that will be added to Japan’s Nikkei 225 Stock Average from Sept. 28, jumped 8.2 percent to 1,209 yen, the biggest increase since Dec. 24. Tokai Tokyo Securities Co. maintained its “strong buy” rating on the glassmaker. Also, Mizuho Securities Co. kept its “outperform” rating for Nippon Electric and CLSA Asia Pacific Markets left the rating unchanged at “buy.”
Nissan Motor Co. (7201 JT), Japan’s third-largest automaker, rose 2.4 percent to 715 yen. The company said it will show a new electric-powered concept vehicle Sept. 30 at the Paris motor show.
Panasonic Corp. (6752 JT) advanced 3 percent to 1,159 yen and Hitachi Ltd. (6501 JT) gained 2.2 percent to 374 yen. The electronics makers agreed to cooperate in setting up so-called smart electric power grids, according to their websites.
Toshiba Corp. (6502 JT), a maker of computers and telecommunication systems, advanced 2.3 percent to 405 yen. The company will enter the electronic publishing business as it begins services in the U.S. with contents provided by K-NFB Reading Technology, the Nikkei newspaper reported.
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