Japan Stocks: Idemitsu, Point, Sharp, Toyota, Yahoo Japan
Japan’s Nikkei 225 Stock Average fell 167.27, or 1.6 percent, to 10,586.76 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.
Idemitsu Kosan Co. (5019 JT), Japan’s third-biggest oil refiner by capacity, rose 1.4 percent to 9,990 yen, set for the highest close since June 2008. The company said it will pay a commemorative dividend of 50 yen per share to mark its 100th anniversary, boosting its planned dividend for the second-half period to 125 yen from 75 yen.
Industrial & Infrastructure Fund Investment Corp. (3249 JT), a real-estate investment trust, fell 2 percent to 410,000 yen. The REIT said it will sell shares to the public for 405,945 yen each.
Maspro Denkoh Corp. (6749 JT), a maker of television antennas, gained 4.5 percent to 865 yen, en-route for the highest close since May 20. The company raised its planned second-half dividend to 24.5 yen per share from 8.5 yen per share.
Point Inc. (2685 JT), an apparel chain, slipped 2 percent to 3,880 yen. The retailer said same-store sales in February fell 1.9 percent in Japan from a year earlier.
Sharp Corp. (6753 JT), Japan’s largest maker of liquid- crystal displays, slumped 4.7 percent to 847 yen, after Morgan Stanley cut its rating on the stock.
Tomoe Engineering Co. (6309 JT), a maker of chemical materials, leapt 2.5 percent to 1,481 yen. The company raised its first-half net-income outlook 29 percent to 980 million yen ($12 million).
United Urban Investment Corp. (8960 JT), a real-estate investment trust, slumped 3.7 percent to 103,300 yen, set for the biggest drop since May 25. The REIT plans to raise as much as 64.9 billion yen by selling shares to the public, according to a filing with Japan’s finance ministry.
Yahoo Japan Corp. (4689 JT), the operator of Japan’s most- visited Internet portal, jumped 8 percent to 33,650 yen, on course for the biggest advance since June 2009. Yahoo! Inc. (YHOO US) is in talks that may result in the sale of its 35 percent stake in Yahoo Japan, Reuters reported, citing people familiar with the discussions.
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