Japan Stocks: Denki Kagaku, Gree, JX, Toshiba, Yahoo Japan
Japan’s Nikkei 225 Stock Average fell 17.33, or 0.2 percent, to 10,380.77 at 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.
Aichi Steel Corp. (5482 JT), a maker of specialty steel, jumped 6.6 percent to 599 yen, the highest close since December 2007. The company had its share-price estimate increased to 680 yen from 600 yen at Credit Suisse Group AG.
Denki Kagaku Kogyo K.K. (4061 JT), a chemical products maker, declined 2.8 percent to 382 yen. The company had its stock rating cut to “neutral” from “buy” at Nomura Holdings Inc.
Gree Inc. (3632 JT), a social-networking website operator, jumped 6.1 percent to 1,097 yen. The company was rated “buy” in new coverage at Goldman Sachs Group Inc.
JSR Corp. (4185 JT), a maker of synthetic resin, gained 3.6 percent to 1,599 yen. The company was raised to “buy” from “neutral” at Nomura Holdings Inc.
JX Holdings Inc. (5020 JT), which refines and distributes petroleum and petrochemical products, increased 2.3 percent to 576 yen, the highest close since its listing on April 2. The company said JX Nippon Oil and Gas Exploration Corp., a unit of JX Holdings, will announce the discovery of natural gas and condensate reserves in a block offshore from Vietnam at 3 p.m. Tokyo time today.
Taiho Kogyo Co. (6470 JT), an auto-parts company, leapt 4.1 percent to 788 yen. The company was raised to “buy” from “hold” at Citigroup Global Markets Japan Inc.
Toshiba Corp. (6502 JT), an electronics maker, rose 2.5 percent to 460 yen. The company will develop a pressurized-water nuclear reactor with China’s state nuclear power company, the Nikkei newspaper reported. Toshiba’s Westinghouse Electric Co. unit will join a project to develop a 1.4 million-kilowatt reactor, according to the report, which didn’t cite anyone.
Workman Co. (7564 JQ), a maker of work uniforms, advanced 2.4 percent to 1,546 yen. The company said sales at stores open for at least 13 months rose 7.1 percent in December with a 7.6 percent increase in customer traffic.
Yahoo Japan Corp. (4689 JT), the operator of Japan’s most- visited Internet portal, slumped 4.7 percent to 30,200 yen, the sharpest slide since April 28. The company was rated “sell” in new coverage at Goldman Sachs Group Inc.
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