Japan Stocks: ABC-Mart, Elpida, Kewpie, Renown, Toto, Toyota
Japan’s Nikkei 225 (NKY) Stock Average rose 88.72, or 0.9 percent, to 9,673.09 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.
Oil companies: Inpex Corp. (1605) (1605 JT), Japan’s largest oil explorer, advanced 2.7 percent to 652,000 yen and Japan Petroleum Exploration Co. (1662) (1662 JT), the No. 2, rose 2.1 percent to 4,190 yen. Oil traded near a 30-month high in New York as NATO escalated its air campaign over Libya, and amid renewed concern that conflict in other energy-exporting countries in the region may curtail supplies.
ABC-Mart Inc. (2670) (2670 JT), a shoe retailer, gained 3.9 percent to 2,934 yen. The company said full-year net income advanced 27 percent to 18.4 billion yen ($215 million) on a 12 percent rise in sales.
Elpida Memory Inc. (6665) (6665 JT), the world’s third-largest maker of computer-memory chips, rallied 5.4 percent to 1,120 yen. The company has developed DRAM chips with 4-gigabits of memory, Hideki Saito said by telephone.
Kewpie Corp. (2809) (2809 JT), a mayonnaise maker, slipped 2.6 percent to 943 yen. The company said first-quarter net income fell 6.8 percent to 2.21 billion yen, as higher egg prices offset increased sales and lower costs.
Renown Inc. (3606) (3606 JT), an apparel maker, surged 17 percent to 163 yen, set for the biggest gain since May 2010. The company said in a preliminary earnings statement full-year net loss was 1.14 billion yen, narrower than its estimated 1.6 billion yen loss, buoyed by lower costs and improved inventory standings.
Sumitomo Metal Industries Ltd. (5405) (5405 JT), Japan’s third- largest steelmaker, rose 1.7 percent to 180 yen. The company said the plate mill at its Kashima factory, in Ibaraki prefecture, resumed rolling operations on April 5.
Toto Ltd. (5332) (5332 JT), a maker of toilet fixtures and sinks, climbed 3.3 percent to 653 yen. The company was rated “buy” in new coverage by Citigroup Inc.
Toyota Motor Corp. (7203) (7203 JT), the world’s biggest carmaker, rose 1.8 percent to 3,325 yen. The company will resume production at its affiliate Central Motor Co.’s Sagamihara plant in Kanagawa, west of Tokyo, from April 11, according to spokeswoman Shiori Hashimoto.
Union Tool Co. (6278) (6278 JT), a maker of drill bits, lost 3 percent to 1,815 yen. The company cut its full-year net income outlook 14 percent to 1.81 billion yen, citing slumping demand of carbide drills used for printed circuit boards.
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