Japan Stocks: Elpida, Isuzu, Modec, Sanrio, Tokyo Style
Japan’s Nikkei 225 (NKY) Stock Average fell 57.32, or 0.6 percent, to 9,583.86 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.
Daiseki Co. (9793 JT), a waste-disposal company, jumped 7.2 percent to 1,684 yen. The company said it expects full-year net income to increase 11 percent to 3.47 billion yen on a 14 percent gain in sales.
Daiseki Eco. Solution Co. (1712 JT), a soil-contamination inspector, surged by its upper daily limit of 40,000 yen, or 22 percent, to 218,700 yen, the highest since January 2009. The company forecast net income will jump fourfold to 177 million yen this fiscal year, with a 15 percent rise in sales.
Elpida Memory Inc. (6665) (6665 JT), the world’s third-largest maker of computer-memory chips, advanced 2.7 percent to 1,165 yen. The company was boosted to “buy” from “hold” by Takeo Miyamoto, a Tokyo-based analyst at Deutsche Bank AG.
Isuzu Motors Ltd. (7202) (7202 JT), Japan’s largest maker of light-duty trucks, gained 5.8 percent to 309 yen after Germany’s Manager Magazin reported Volkswagen AG is considering taking a stake or purchasing the truckmaker outright.
JVC Kenwood Holdings Inc. (6632) (6632 JT), an electronics maker, rose 2.4 percent to 423 yen. JVC Kenwood had pretax profit of about 6 billion yen in the fiscal year that ended on March 31, the Nikkei newspaper reported. It would be the company’s first profit since the 2008 merger that created the company, the report said.
Modec Inc. (6269 JT), a maker of natural-gas production equipment, leapt 4.2 percent to 1,517 yen. The company said it has won an order to design 2 tension leg platforms from Woodside, Australia’s oil and gas explorer.
Renown Inc. (3606) (3606 JT), an apparel maker, slumped 5.1 percent to 168 yen. Storefront sales at Renown declined 20 percent in March from the same month a year earlier due to shorter opening hours caused by the earthquake, Jiji Press reported, citing the company that made the announcement in the earnings press meeting yesterday. Renown’s full-year net loss narrowed to 1.13 billion yen from 10.9 billion yen a year earlier.
Ryohin Keikaku Co. (7453 JT), the operator of the Muji retail chain, rallied 5.9 percent to 3,500 yen. The retailer said full-year net income rose 4.7 percent to 7.86 billion yen. The profit beat the company’s estimate by 14 percent.
Sanrio Co. (8136 JT), the maker of Hello Kitty merchandise, jumped 7.3 percent to 2,482 yen. The company said in a preliminary earnings statement that full-year net income amounted to 9.1 billion yen, 30 percent more than its 7 billion yen outlook, citing its “favorable” overseas license operations.
Shochiku Co. (9601 JT), a movie producer and theater operator, climbed 2.6 percent to 586 yen. The company said in a preliminary earnings statement that full-year net income totaled 700 million yen, beating its 330 million yen profit estimate, due to a gain from sale of the unit’s operations.
Tokyo Style Co. (8112 JT), an apparel maker, slid 3.5 percent to 554 yen. Tokyo Style posted a full-year net loss of 10.5 billion yen, dragged down by charges related to deferred tax assets, according to a preliminary earnings statement. The company had forecast a 4.7 billion yen profit.
Tsudakoma Corp. (6217 JT), a textile machine maker, soared 9.7 percent to 215 yen. The company posted a return to first- quarter net income of 140 million yen from a year-earlier loss, as sales more than doubled.
To contact the reporter on this story: Norie Kuboyama in Tokyo at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.