Japan Stocks: ABC-Mart, JSR, Mochida Pharmaceutical, Ube
Japan’s Nikkei 225 Stock Average rose 52.65, or 0.5 percent, to 10,563.33 at the midday trading break in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
ABC-Mart Inc. (2670 JT), a shoe retailer, rose 3.9 percent to 3,090 yen. The company said net income for the March-November period increased 34 percent to 13.6 billion yen ($164 million) on a 12 percent gain in sales. The company also said it will pay a commemorative dividend of 10 yen in addition to the planned yearend dividend of 19 yen.
JSR Corp. (4185 JT), a maker of synthetic resin, jumped 4.4 percent to 1,723 yen. The company said it will spend as much as 5.5 billion yen to buy back up to 1.23 percent of its outstanding shares.
Mochida Pharmaceutical Co. (4534 JT), a drugmaker, advanced 2.5 percent to 902 yen. The company will repurchase up to 1.1 percent of its outstanding shares for as much as 1.15 billion yen.
OSG Corp. (6136 JT), a maker of machine tools, climbed 3.3 percent to 1,010 yen. The company forecast full-year net income will increase 38 percent to 5.2 billion yen. Profit for the year ended Nov. 30 totaled 3.77 billion yen, compared with a loss of 3.77 billion yen a year earlier.
Saizeriya Co. (7581 JT), an Italian-food restaurant chain, dropped 2.6 percent to 1,643 yen. The company’s net income for the three months ended Nov. 30 declined 53 percent to 933 million yen as sales dropped.
Sugi Holdings Co. (7649 JT), a drugstore chain, increased 3.1 percent to 2,025 yen. The retailer said net income for the nine months to Nov. 30 gained 63 percent to 6.18 billion yen on a 2.7 percent increase in sales.
Toyota Motor Corp. (7203 JT), the world’s biggest carmaker, rose 2 percent to 3,525 yen. The company agreed to pay $35 million to settle a lawsuit that alleged the automaker and a dealer association worked together to prevent the export of cheaper cars from the U.S. to Canada, the law firm Berman DeValerio said.
Ube Industries Ltd. (4208 JT), a chemical products maker, surged 6.2 percent to 257 yen. The company will probably report 40 billion yen in operating profit for the fiscal year ending in March, beating its 36 billion yen forecast, the Nikkei newspaper reported.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.