Japan Stocks: Asics, ND Software, Sanrio, Tokyo Electric Power
Japan’s Nikkei 225 (NKY) Stock Average climbed 62.60, or 0.7 percent, to 9,442.95 as of the close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Asics Corp. (7936) (7936 JT), a sporting-goods maker, fell 1.9 percent to 1,161 yen. The company’s investment rating was cut to “neutral” from “outperform” by Daiwa Securities Group Inc.
Canon Inc. (7751) (7751 JT), the world’s biggest camera maker, slumped 2.6 percent to 3,745 yen. The company announced it completed the end of a 50 billion yen ($623 million) stock buyback program.
JX Holdings Inc. (5020) (5020 JT), a refiner, gained 2.1 percent to 524 yen. The company is expected to acquire a 5 percent stake in a West Papua coal mine for 12 billion yen with plans to supply 4 million tons a year to Japanese utilities, the Nikkei newspaper reported.
Kajima Corp. (1812) (1812 JT), a general contractor, rose 3.1 percent to 230 yen. The company’s share price target was raised to 220 yen from 210 yen by SMBC Nikko Securities Inc., which maintained its “underperform” rating on the stock.
ND Software Co. (3794 JQ), a software developer, surged 13 percent to 1,190 yen. The company boosted its net income forecast for the year ending March 31 by 21 percent to 634 million yen.
Omron Corp. (6645) (6645 JO), a maker of electronic components, advanced 2.8 percent to 2,095 yen. The company forecast net income to rise 27 percent to 34 billion yen for the full-year ending March 31.
Pigeon Corp. (7956) (7956 JT), a maker of baby-care products, dropped 7.1 percent to 2,642 yen. The company reported net income dropped 27 percent to 337 million yen in the quarter ended April 30.
Sanrio Co. (8136 JT), the maker of Hello Kitty character goods, jumped 4.4 percent to 3,200 yen. The company was rated “outperform” in new coverage by Cosmo Securities Co., which set its share price target at 4,500 yen.
Sega Sammy Holdings Inc. (6460) (6460 JT), a maker of video-game and pachinko machines, declined 1.5 percent to 1,617 yen. The company was reduced to “neutral plus” from “outperform” by Mito Securities Co.
Tokyo Electric Power Co. (9501 JT), a utility, rallied 4.4 percent to 216 yen. Liquidating Tokyo Electric would cause huge problems and must be avoided, Chief Cabinet Secretary Yukio Edano said yesterday.
Toyota Motor Corp. (7203) (7203 JT), an automaker, advanced 2.2 percent to 3,285 yen. The company plans to raise Prius wagon production to 5,000 a month from an earlier planned 3,000 a month by August or September, the Nikkei newspaper reported.
To contact the editor responsible for this story: Nick Gentle at email@example.com.