Nisshin Fudosano, Sparx, Sumitomo Chemical, Ube, Yamanaka: Japan Stocks
Japan’s Nikkei 225 Stock Average rose 40.96, or 0.4 percent, to 9,539.45 as of the 3 p.m. close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Nisshin Fudosan Co. (8881 JT), a real-estate company, gained 4.9 percent to 555 yen. The company raised its full-year net income forecast to 4.1 billion yen from its previous forecast of 2.87 billion yen for the year ending March 2011.
Sparx Group Co. (8739 JQ), Asia’s second-biggest hedge-fund manager, rose 1.4 percent to 7,120 yen. The company plans to start a long-short fund to invest in shares of the region’s companies that stand to benefit the most from the world’s fastest-growing economies.
Sumitomo Chemical Co. (4005 JT), a chemical manufacturer, increased 3.1 percent to 366 yen. The company was raised to “outperform” from “neutral” at Mitsubishi UFJ Morgan Stanley Securities Co. The share price estimate was also increased to 410 yen from 330 yen.
Taihei Kogyo Co. (1819 JT), a civil engineering company, surged 7.5 percent to 346 yen, the highest level since May 11. The company boosted its full-year net income forecast to 6 billion yen, compared with its previous outlook of 5 billion yen.
Tokai Rika Co. (6995 JT), which makes electronic parts for automobiles, slipped 2.5 percent to 1,323 yen. The company said it will book a one-time charge of 6.51 billion yen after a product recall.
Torii Pharmaceutical Co. (4551 JT), a drugmaker, increased 4.4 percent to 1,628 yen, the most since November 2009. The company’s net income for the six months through September was 1.7 billion yen on a parent basis, more than its forecast of 1.2 billion yen, it said in a preliminary earnings statement.
Ube Material Industries Ltd. (5390 JT), a raw material producer, advanced 3.2 percent to 192 yen. The company’s first- half net income for the period ended September was 750 million yen, 56 percent more than previously forecast, according to a preliminary earnings statement.
Yamanaka Co. (8190 JN), a supermarket chain operator, lost 2.6 percent to 847 yen. The company cut its net income forecast by 78 percent to 100 million for the year ending March 2011.
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