Japan Stocks: Hitachi, Nomura Research, Orient, Promise, Uny
Japan’s Nikkei 225 Stock Average fell 115.62, or 1.1 percent, to 10,228.92 as of the close in Tokyo, taking its total loss for the year to 3 percent. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Hitachi Ltd. (6501 JT) advanced 1.9 percent to 433 yen, the highest since November 2008. Hitachi and Mitsubishi Heavy Industries Ltd. (7011 JT) will make a joint bid for a 350 billion yen Bangkok railroad construction project next month, the Yomiuri newspaper reported. Mitsubishi Heavy fell 1.3 percent to 305 yen.
Kikusui Electronics Corp. (6912 JQ), a maker of power source equipment, surged 16 percent to 565 yen, the highest since December 2007. The shares extended an 18 percent jump yesterday after the Yomiuri newspaper reported that the U.S. government will adopt Japanese common standard rechargers at its driving tests of electric vehicles.
Nintendo Co. (7974 JO), the world’s largest maker of video- game players, slumped 2.4 percent to 23,830 yen. The company will bar children ages 6 and younger from using the 3-D functions of its new handheld game machine at an introductory event for the device. “Looking at 3-D images for a long time may harm the growth of children’s eyes,” Nintendo said in a note to visitors coming to the event next month, posted on its website.
Nomura Research Institute Ltd. (4307 JT), an information- technology provider, slumped 1.9 percent to 1,808 yen. The company will likely post a 20 percent drop in current profit, or pretax profit from operations, to about 27 billion yen for the nine months ending in December, hurt by its main customer Nomura Holdings Inc.’s (8604 JT) curbs on information technology investments, the Nikkei newspaper reported. Nomura lost 1.7 percent to 515 yen.
Orient Corp. (8585 JT), a consumer-credit company, rallied 9.2 percent to 95 yen, the highest since November 2009. Mizuho Financial Group Inc. (8411 JT) may buy preferred shares of Orient Corp. that are held by Morgan Stanley and other investors, Nikkei English News reported. Mizuho sank 2.6 percent to 153 yen.
Promise Co. (8574 JT), a consumer lender, gained 3.1 percent to 467 yen. Sumitomo Mitsui Financial Group Inc. (8316 JT) may increase its stake in consumer lending affiliate Promise, the Sankei newspaper reported, citing Sumitomo Mitsui President Teisuke Kitayama. Sumitomo Mitsui is ready to support Promise with human resources and operating cash, according to the report. Sumitomo Mitsui fell 1.9 percent to 2,892 yen.
Uny Co. (8270 JT), a department-store chain, climbed 2.2 percent to 821 yen. The retailer boosted its full-year net income projection 38 percent to 4.4 billion yen. The retailer turned to a nine-month net income of 4.91 billion yen from a year-earlier loss.
To contact the editor responsible for this story: Nick Gentle at email@example.com.