Ichiyoshi, Mitsubishi, Nitori, Toshiba, Ulvac, Yahoo Japan: Equity Movers
Japan’s Nikkei 225 Stock Average fell 157.85, or 1.7 percent, to 9381.60 at the 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.
Commodity-related stocks fell as crude oil for November traded near a three-week low after China unexpectedly raised benchmark interest rates yesterday. The London Metal Exchange Index lost 2.1 percent yesterday.
Mitsubishi Corp. (8058 JT), Japan’s biggest commodities trader, declined 2.4 percent to 2,000 yen. Mitsui & Co. (8031 JT), a trading house that counts commodities as its biggest source of profit, dropped 2.7 percent to 1,293 yen. Inpex Corp. (1605 JT), the nation’s largest oil and gas explorer, slid 3.4 percent to 432,000 yen.
Ichiyoshi Securities Co. (8624 JT), a brokerage, fell 3.8 percent to 528 yen. The company’s first-half net loss was 1.2 billion yen, reversing a year-earlier profit, according to a preliminary earnings statement.
Kyoei Steel Ltd. (5440 JT), a maker of specialty steel products, slipped 1.4 percent to 1,008 yen. First-half net income totaled 20 million yen, 93 percent less than its profit forecast, according to a preliminary earnings statement.
Nitori Holdings Co. (9843 JT), a furniture retailer, rose 4.5 percent to 6,730 yen, the biggest gain since June 2009. The company said it would spend as much as 7 billion yen ($86 million) to buy up to 1.8 percent of its outstanding shares.
Resona Holdings Inc. (8308 JT), a lender, dropped 3.6 percent to 645 yen. The bank was reduced to “underweight” from “equalweight” at Barclays Capital. The share price estimate was also cut to 720 yen from 1,050 yen.
TOC Co. (8841 JT), a real-estate company, lost 2.1 percent to 334 yen. The company cut its full-year net income forecast by 33 percent to 2.1 billion yen with less-than-expected sales.
Toshiba Corp. (6502 JT), the electronics maker, rose 2 percent to 417 yen. The company may post a consolidated operating profit slightly above 100 billion yen for the six months ended in September, more than its forecast of 70 billion yen, Nikkei English News reported. Toshiba said today it is assessing earnings.
Ulvac Inc. (6728 JT), a maker of vacuum devices for semiconductors, jumped 7 percent to 1,548 yen. The company was raised to “outperform” from “neutral” at Mitsubishi UFJ Morgan Stanley Securities Co. The share price estimate was boosted to 2,300 yen from 1,680 yen.
Yahoo Japan Corp. (4689 JT), operator of the nation’s most- visited Web portal, sank 3 percent to 28,610 yen. Rakuten Inc. (4755 JQ), the operator of Japanese Internet-shopping websites, asked Japan’s Fair Trade Commission to review an Internet-search partnership between Yahoo Japan and Google Inc. (GOOG US), saying the deal may deter competition. Rakuten lost 0.3 percent to 61,000 yen.
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