Japanese Stocks: Elpida, Mazda, Mitsubishi Heavy, T&D, Toyota
Japan’s Nikkei 225 Stock Average rose 81.55, or 0.8 percent, to 10,095.18 as of 9:30 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Elpida Memory Inc. (6665 JT), the world’s third-largest maker of computer-memory chips, jumped 5.1 percent to 984 yen. The company was raised to “outperform” from “neutral” by Masaharu Sato, an analyst at Daiwa Securities Group Inc. Elpida will reduce procurement of dynamic random access memory chips from Taiwan companies, the Nikkan Kogyo newspaper said.
Mazda Motor Corp. (7261 JT), Japan’s second-largest car exporter, rose 2.2 percent to 238 yen. The automaker said Ford Motor Co. of the U.S. will cut its stake in Mazda to 3.5 percent from 11 percent.
Mitsubishi Heavy Industries Ltd. (7011 JT), Japan’s biggest heavy-machinery maker, climbed 2.4 percent to 302 yen. The company said it completed a trial plant at its Nagasaki shipyard to produce rechargeable lithium batteries for electric vehicles.
Nippon Metal Industry Co. (5479 JT), a maker of steel products, increased 3 percent to 104 yen. The company said it will set up a venture in Taiwan with two partners to sell stainless steel in China and other Asian countries.
T&D Holdings Inc. (8795 JT), Japan’s largest publicly traded life insurer, advanced 4.4 percent to 1,979 yen. The company said first-half net income jumped 54 percent to 22.2 billion yen ($266 million).
Toyota Tsusho Corp. (8015 JT), a trading company affiliated with Toyota Motor Corp. (7203 JT), rose 2 percent to 1,397 yen. Toyota Motor, the world’s No. 1 carmaker, rose 1.9 percent to 3,275 yen. Toyota Tsusho will build a rare-earth processing plant in Indonesia, the Tokyo Shimbun newspaper reported.
Vic Tokai Corp. (2306 JQ), a provider of telecommunications services, soared 9.2 percent to 786 yen, set for the biggest gain since August 2009, while its parent Tokai Corp. (8134 JT), a distributor of oil products, slid 1.7 percent to 351 yen. The companies said in a release that they will merge under a holding company in April.
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