Japan Stocks: Aiful, AOC, Asahi Glass, Pioneer, Showa Denko
Japan’s Nikkei 225 Stock Average fell 32.65, or 0.3 percent, to 10,585.18 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.
Aiful Corp. (8515 JT), Japan’s third-biggest consumer lender, soared 16 percent to 102 yen. The company posted net income of 9.69 billion yen ($118 million) in the nine months ended Dec. 31, rebounding from a year-earlier loss.
AOC Holdings Inc. (5017 JT), an oil explorer, gained 4 percent to 543 yen. AOC raised its full-year net income projection to 1.2 billion yen from 100 million yen.
Asahi Glass Co. (5201 JT), a glassmaker, slumped 3.8 percent to 1,056 yen. The company forecasts operating profit will fall 4 percent to 220 billion yen.
Bridgestone Corp. (5108 JT), the world’s largest tiremaker, rose 2.3 percent to 1,650 yen. The company will raise tire prices in Japan to pass on a widespread increase in the costs of raw materials, Bridgestone said on its Web site.
Citizen Holdings Co. (7762 JT), a watchmaker, advanced 2.7 percent to 575 yen. The company posted a 92 percent gain in nine-month net income to 7.34 billion yen on sales growth.
Elpida Memory Inc. (6665 JT), The world’s third-largest maker of computer-memory chips, fell 2.2 percent to 1,231 yen. The dynamic random-access-memory chip industry may face shortages in May, the Taipei-based Economic Daily News reported, citing Japan’s Elpida Memory Inc. President Yukio Sakamoto.
Ocean System Corp. (3096 JQ), a supermarket owner, climbed 4.7 percent to 821 yen, headed for the biggest gain since July 2009. The company said it will buy back up to 5.17 percent of its total shares.
Kyowa Hakko Kirin Co. (4151 JT), a drugmaker, declined 2.9 percent to 850 yen. Credit Suisse Group AG cut its investment rating for Kyowa Hakko Kirin to “neutral” from “outperform.”
Pioneer Corp. (6773 JT), a maker of car-navigation systems and audio equipment, rallied 2.4 percent to 387 yen. The company posted nine-month net income of 10.3 billion yen, compared with a 44.7 billion yen loss a year earlier. Also, Pioneer will ally with Asia Optical Group on parts production in Brazil through a joint venture.
Showa Denko K.K. (4004 JT), a chemical products maker, slumped 4.7 percent to 183 yen. The company posted a full-year net income of 12.7 billion yen. That was 9.2 percent below the company’s forecast.
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