Japan Stocks: Canon, Honda, Japan Cash, Nikon, Tepco
Japan’s Nikkei 225 (NKY) Stock Average rose 223.33, or 2.5 percent, to 9,186.00 as of 9:45 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.
Exporters: Canon Inc. (7751) (7751 JT), Toyota Motor Corp. (7203) (7203 JT) and other exporters gained after Japanese Finance Minister Yoshihiko Noda said today that some Group of Seven nations will act to weaken the yen. Canon, the world’s biggest camera maker, climbed 2.7 percent to 3,565 yen. Toyota, the world’s largest carmaker, rose 2 percent to 3,335 yen.
Fanuc Corp. (6954) (6954 JT), Japan’s No. 1 maker of industrial robots, leapt 2.4 percent to 11,640 yen. Honda Motor Co. (7267 JT), Japan’s third biggest carmaker by sales, rallied 3.9 percent to 3,175 yen. Mazda Motor Corp. (7261) (7261 JT), Japan’s second-largest car exporter, advanced 3.4 percent to 184 yen.
IR Japan Inc. (6051 JQ), a consulting company, rose to 1,890 yen, 5 percent more than its initial offering price of 1,800 yen. The company started trading on the Osaka Securities Exchange’s Jasdaq Standard market.
Japan Cash Machine Co. (6418 JO), a maker of money-changing devices, surged 13 percent to 700 yen, en route for the biggest gain since October 2008. The company more than doubled its full- year net income outlook to 630 million yen from 290 million yen.
Kenko.com Inc. (3325) (3325 JT), an online retailer of health- related products, soared 13 percent to 49,400 yen. The company said it will sell new shares to a subsidiary of Rakuten Inc. (4755) (4755 JQ), an Internet-shopping website operator. Rakuten rose 0.9 percent to 75,700 yen.
Kobe Steel Ltd. (5406) (5406 JT) gained 4.7 percent to 201 yen. The steelmaker will restart production from March 18 at an aluminum plant in Tochigi prefecture closed after Japan’s March 11 earthquake.
Nikon Corp. (7731) (7731 JT), a camera maker, rose 3.1 percent to 1,599 yen. Notion VTEC Bhd., a Malaysian metal processor and tools maker, is discussing with Nikon on the possibility of relocating the Japanese company’s machining works from its Sendai plant to the Southeast Asian country, OSK Research Sdn. said in a report.
Papyless Co. (3641 JQ), a distributor of electronic books, jumped 12 percent to 2,540 yen. The company said it will buy back up to 4.3 percent of its total shares.
Tokyo Electric Power Co. (9501 JT), Asia’s largest utility known as Tepco, rallied 11 percent to 889 yen, the biggest gain since November 1999, after declining for four days, as the company struggles to contain the aftermath of the March 11 earthquake at its Fukushima nuclear plant. The utility expects to connect a power line to the No. 2 reactor at the crippled Fukushima Dai-Ichi nuclear plant as early as tonight to help restart the cooling system, NHK reported.
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