Japan Stocks: Advantest, JX, Secom, Toho Zinc, Tepco, Toshiba
Japan’s Nikkei 225 (NKY) Stock Average rose 270.74, or 2.9 percent, to 9,477.49 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Advantest Corp. (6857) (6857 JT), the world’s largest maker of memory-chip testers, soared 7.8 percent to 1,423 yen, set for the biggest gain since April 2009. Verigy Ltd. of Singapore said Advantest’s takeover bid is superior to a proposal from another company.
JX Holdings Inc. (5020) (5020 JT) jumped 10 percent to 568 yen, en route for the steepest advance since May 2010. JX Nippon Oil & Energy Corp., the refining unit of JX Holdings, resumed work at its Negishi oil refinery near Tokyo on March 21, said a company official.
Secom Co. (9735 JT), a provider of security services, gained 5.4 percent to 3,820 yen, headed for the largest increase since May 2009. Nomura Holdings Inc. increased its stock price estimate for Secom to 5,600 yen from 5,400 yen, maintaining the “buy” rating.
Sony Corp. (6758) (6758 JT), an electronics maker, climbed 3.1 percent to 2,597 yen. The company plans to restart a factory in Tochigi prefecture that makes rechargeable batteries, northern Japan, from today, said Hiroshi Okubo, a Tokyo-based spokesman.
Toho Zinc Co. (5707 JT), Japan’s third-largest zinc producer, soared 7.6 percent to 370 yen. The company raised its full-year operating profit outlook by 23 percent to 8 billion yen, saying “demand is firm.”
Tokyo Electric Power Co. (9501 JT), Asia’s largest utility, surged 16 percent to 1,098 yen. Tokyo Electric said it’s ready to supply power to the No. 1 reactor at the Fukushima nuclear plant, according to a Kyodo report. Also, Tepco resumed work to restore power at reactors Nos. 1 through 4 at the Fukushima Dai- Ichi nuclear plant, Kyodo News reported, citing the Japanese utility.
Toshiba Corp. (6502) (6502 JT), Japan’s biggest maker of nuclear reactors, jumped 11 percent to 398 yen, headed for the biggest gain since October 2008, after the Nikkei newspaper reported the company will pay a term-end dividend.
Toyo Tire & Rubber Co. (5105 JT), a tiremaker, soared 7.5 percent to 202 yen, set for the largest advance since February 2010. The company plans to restart operations this week at plants halted after the earthquake.
Toyota Boshoku Corp. (3116) (3116 JT), an affiliate of Toyota Motor Corp. (7203), climbed 3.9 percent to 1,192 yen. The company said it’s ready to restart factories that supply the automaker in Japan at any time necessary.
Toyota Motor Corp. (7203 JT), the world’s biggest automaker, rose 3.1 percent to 3,315 yen. Toyota is resuming Japanese production of parts for its overseas assembly plants as it recovers from the March 11 earthquake, a spokesman for the automaker’s European arm said yesterday.
Separately, Toyota may extend a production halt at Japan factories until tomorrow, spokeswoman Shiroi Hashimoto said by phone today.
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