Japan Stocks: CSK, Don Quijote, Taisho Pharmaceutical, Toyota
Japan’s Nikkei 225 Stock Average rose 74.05, or 0.7 percent, to 10,526.76 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.
Ajinomoto Co. (2802 JT), the Japanese seasonings maker that first sold monosodium glutamate, rose 3.3 percent to 937 yen. The company aims to increase operating profit by 26 percent in three years by expanding in overseas markets including Asia and Africa.
CSK Corp. (9737 JT), a Japanese computer-services company, plunged by its daily limit of 80 yen, or 20 percent, to 313 yen, the biggest drop since March 2009. Sumitomo Corp. (8053 JT), a trading company, and Sumisho Computer Systems Corp. (9719 JT), a software developer, offered to buy shares of CSK for 203 yen each, the companies said in a statement. Sumitomo fell 0.3 percent to 1,207 yen. Sumisho Computer Systems tumbled 7.8 percent to 1,276 yen, the biggest drop since October 2008.
Don Quijote Co. (7532 JT), a discount retailer, rose 2.6 percent to 2,885 yen after JPMorgan Chase & Co. rated the stock “overweight” in new coverage.
Duskin Co. (4665 JT), a cleaning equipment distributor and food franchise operator, rose 2.8 percent to 1,631 yen. The company said it will spend as much as 1.75 billion yen ($21.3 million) to buy back up to 1.5 percent of its shares.
Honeys Co. (2792 JT), an apparel maker, surged 7.5 percent to 1,073 yen after Ichiyoshi Securities Co. resumed coverage on the stock with “buy.” It was previously rated “neutral.”
NS Solutions Corp. (2327 JT), a system consulting services company, sank 1.8 percent to 1,817 yen after Nomura Holdings Inc. cut its rating to “neutral” from “buy.”
Taisho Pharmaceutical Co. (4535 JT), a maker of over-the- counter drugs, lost 2.8 percent to 1,776 yen after Masayuki Onozuka, an analyst at JPMorgan Chase & Co., cut his rating on the stock to “neutral” from “overweight.”
Toyota Motor Corp. (7203 JT), the world’s largest automaker, rose 2.2 percent to 3,755 yen after Credit Suisse Group AG raised its rating to “outperform” from “neutral.”
Ube Material Industries Ltd. (5390 JT), a raw material producer, rose 4.8 percent to 305 yen. The company increased the planned second-half dividend to 8 yen from 7 yen.
Yamazaki Baking Co. (2212 JT), Japan’s largest bread maker, increased 5.8 percent to 1,004 yen after the company was raised to “outperform” from “neutral” by Hiroshi Saji, an analyst at Mizuho Securities Co.
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