Japan Stocks: Dainippon Sumitomo, Kurita, Shimamura, Tepco
Japan’s Nikkei 225 (NKY) Stock Average fell 13.90, or 0.1 percent, to 9,694.89 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.
Acrodea Inc. (3823) (3823 JT), a developer of software for mobile phones, slumped 2.6 percent to 37,000 yen. The company said it plans to raise 1 billion yen ($13 million) selling equity warrants to Macquarie Bank Ltd.
Dainippon Sumitomo Pharma Co. (4506 JT) advanced 4.4 percent to 762 yen. The drugmaker boosted its full-year net income outlook 36 percent to 15 billion yen. It also signed an agreement to license an antipsychosis drug in Europe to Takeda Pharmaceutical Co. (4502 JT). Takeda slid 0.4 percent to 3,890 yen.
Hokkaido Electric Power Co. (9509 JT) slid 1.8 percent to 1,605 yen. The utility will continue with plans to begin plutonium-thermal power generation at its Kashiwa plant in fiscal 2012, the Nikkei newspaper reported, citing President Yoshitaka Sato.
Kurita Water Industries Ltd. (6370) (6370 JT), a maker of water- treatment equipment, gained 3.6 percent to 2,471 yen. The company may supply synthetic cloth to cover nuclear reactors in Fukushima as part of efforts to prevent the spread of radiation, the Yomiuri newspaper reported.
Renesas Electronics Corp. (6723) (6723 JT), a maker of electronic components, climbed 2.5 percent to 728 yen. The company said it agreed to sell its semiconductor wafer fabrication facility in Roseville, California, to Telefunken Semiconductors International LLC for about $53 million.
Shimamura Co. (8227 JT), an apparel retailer, gained 4.2 percent to 7,230 yen. The company said full-year net income rose 8.2 percent to 23.5 billion yen.
Tokyo Electric Power Co. (9501 JT), Asia’s biggest utility, surged 10 percent to 513 yen after six sessions of declines. Chairman Tsunehisa Katsumata said he wants the company to remain private, responding at a news conference to a question about possible nationalization. Separately, Tokyo Electric will receive loans totaling more than 1.9 trillion yen, Kyodo News reported.
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