Japan Stocks: Fujitsu, Isuzu, MCJ, Net One, Nippon Sheet, Sony
Japan’s Nikkei 225 (NKY) Stock Average fell 40.11, or 0.4 percent, to 9,521.94 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Dwango Co. (3715 JT) advanced 3.2 percent to 189,600 yen. Kadokawa Group Holdings Inc. (9477) (9477 JT) rose 2.3 percent to 2,487 yen, the highest since September 2008. Dwango, a provider of streaming video services, plans to sell 16,800 new and existing shares to Kadokawa to raise 3 billion yen ($37 million), according to a filing with Japan’s finance ministry.
Fujitsu Ltd. (6702) (6702 JT), Japan’s biggest computer-services provider, climbed 3 percent to 417 yen. Fujitsu won an order worth an initial A$100 million ($107 million) to design and construct a fiber-optic broadband network in Australia, according to a statement on the company’s website.
Hitachi Tool Engineering Ltd. (5963) (5963 JT), a maker of precision tools, gained 4 percent to 851 yen. The company said it expects net income will rise 19 percent to 1.92 billion yen this fiscal year on higher sales.
Isuzu Motors Ltd. (7202) (7202 JT), Japan’s largest maker of light-duty trucks, rose 2.5 percent to 366 yen. Hino Motors Ltd. (7205) (7205 JT) increased 0.9 percent to 436 yen, after rising as much as 3.7 percent earlier today. Deutsche Bank AG maintained its “buy” ratings on Isuzu and Hino, saying in a Japanese-language report that production is recovering faster than expected.
MCJ Co. (6670 JT), a personal computer maker, surged by its upper daily limit of 3,000 yen, or 26 percent, to 14,640 yen, the steepest advance since its listing of June 2004. The company said it will conduct a 100-for-1 stock split and will adopt a share unit system, which defines 100 shares as one unit.
Mitsubishi Motors Corp. (7211) (7211 JT), Japan’s sixth-largest automaker by production, sank 3.1 percent to 93 yen. The company said global production of passenger cars and small trucks fell 14.6 percent in April from a year earlier.
Net One Systems Co. (7518 JT), a communications-network designer, climbed 3.7 percent to 148,100 yen. The company had the stock price estimate increased to 151,000 yen from 147,000 yen by Mitsubishi UFJ Morgan Stanley Securities Co.
Nippon Sheet Glass Co. (5202 JT), a glassmaker, rose 2.4 percent to 259 yen, the highest since May 2010. The company was raised to “buy” from “neutral” by Nomura Holdings Inc. “Growing sales of solar-battery glasses and rising demand of construction glasses in Europe and emergency countries will likely boost the company’s operating profit for the year ending March 2012,” Nomura said in a Japanese-language report dated yesterday.
Senshu Electric Co. (9824 JT), a distributor of cable and wire products, soared 8.5 percent to 1,099 yen, the highest since April 2010. The company boosted its full-year net income forecast 34 percent to 1.68 billion yen, due to higher overseas sales and increasing restoration demand after the earthquake.
Sony Corp. (6758) (6758 JT), Japan’s largest electronics exporter, slumped 3.2 percent to 2,167 yen, the lowest since July 2009. Sony said full-year its net loss widened to 259.6 billion yen from 40.8 billion yen a year earlier. Sony forecast lower profit than analysts estimated this fiscal year as the company seeks to recover from Japan’s record earthquake and copes with a string of hacker attacks.
-- With assistance from Takako Iwatani and Toshiro Hasegawa Editors: John McCluskey, Drew Gibson.
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.