Japan Stocks: Canon Marketing, IHI, JSR, Sony, Toyo Electric
Japan’s Nikkei 225 Stock Average fell 23.78, or 0.3 percent, to 9,377.38 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.
Canon Marketing Japan Inc. (8060 JT), a distributor for Canon Inc.’s (7751 JT) products in Japan, tumbled 7.7 percent to 1,004 yen, the lowest since January 2004. The company said nine- month operating profit fell 48 percent to 2.12 billion yen ($26.3 million), with lower sales. Canon lost 1.1 percent to 3,705 yen.
FP Corp. (7947 JO), a maker of food containers, rallied 5.4 percent to 4,400 yen, after boosting its planned full-year dividend to 110 yen a share from 104 yen.
Fuji Electronics Co. (9883 JT), a trader of electronic components, jumped 5.2 percent to 986 yen. The company said it will repurchase up to 9.2 percent of its shares.
Hitachi Kokusai Electric Inc. (6756 JT), a maker of chip- manufacturing equipment, gained 4.3 percent to 701 yen. The company boosted its full-year net income projection by 26 percent to 5.4 billion yen.
IHI Corp. (7013 JT), a heavy machinery maker, increased 2 percent to 152 yen. First-half net income was 13 billion yen, beating the company’s forecast by 63 percent, according to a preliminary earnings statement.
JSR Corp. (4185 JT), a maker of synthetic resin, slumped 4.6 percent to 1,385 yen. Barclays Plc lowered its stock-price estimate to 1,800 yen from 1,900 yen, leaving its “equal- weight” rating unchanged.
Kabu.com Securities Co. (8703 JT), an online brokerage, lost 5.5 percent to 312 yen. The company said first-half net income fell 18 percent to 1.49 billion yen on a 14 percent drop in sales.
Kikkoman Corp. (2801 JT), rose 2.2 percent to 895 yen. Japan’s biggest soy source maker, was lifted to “outperform” from “underperform” by Hiroshi Saji, an analyst at Mizuho Securities Co.
Melco Holdings Inc. (6676 JT), a maker of computer- peripheral equipment, leapt 4.7 percent to 2,763 yen. The company said first-half net income almost tripled to 2.92 billion yen from 1.02 billion yen a year earlier.
Nippon Pillar Packing Co. (6490 JT), a mechanical seal maker, soared 9.9 percent to 443 yen. The company said in a preliminary earnings statement first-half net income was 1.3 billion yen, exceeding its 550 million yen profit outlook, citing increased orders from chip-manufacturing equipment makers.
Nippon Soda Co. (4041 JT), a chemical maker, sank 5.4 percent to 351 yen. First-half net income declined more than expected on a drop in the value of its financial company holdings, the company said in a preliminary earnings statement.
Osaka Gas Co. (9532 JT), Japan’s second-biggest distributor of natural gas, climbed 2.1 percent to 299 yen. The company said in a preliminary earning statement it had 19 billion yen in first-half net income, beating its forecast by 23 percent as the yen strengthened more than expected.
Riken Technos Corp. (4220 JT), a maker of synthetic resin, advanced 3.3 percent to 222 yen. The company said it will buy back as much as 1.6 percent of its shares.
SMK Corp. (6798 JT), a maker of electronic components, tumbled 6.1 percent to 353 yen, steepest drop since Jan. 27. First-half net income totaled 1.16 billion yen, 7.3 percent less than forecast.
Sony Corp. (6758 JT), an electronics maker, rose 0.7 percent 2,742 yen, with more than twice the average number of shares traded. The shares rallied as much as 2.9 percent today on speculation the company may become a target of a buyout, an analyst said. Sony declined to comment on any speculation.
Toho Zinc Co. (5707 JT), a smelter of nonferrous metals, rose 2.3 percent to 361 yen. The company said in a preliminary earnings statement first-half net income was 6 billion yen, beating its 1.5 billion yen outlook, with higher-than-expected sales.
Toyo Electric Manufacturing Co. (6505 JT), a maker of electrical equipment, jumped 5.7 percent to 355 yen. The company said it will raise 714 million yen in a share sale to Hitachi Ltd. (6501 JT). Hitachi fell 0.3 percent to 353 yen.
Yamaha Motor Co. (7272 JT), the world’s second-largest motorcycle maker, slid 2 percent to 1,199 yen. The company recalled 136,378 motorcycles made by its Brazilian unit. The recall will cost the company 2.35 billion yen.
To contact the editor responsible for this story: Darren Boey at email@example.com.