Hino Motors, Kansai Electric, Monogatari, Tokyo Electric: Japan Stocks
Japan’s Nikkei 225 (NKY) Stock Average gained 26.53, or 0.3 percent, to 9,574.32 at 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.
Fuji Electric Co. (6504 JT), which makes electric machinery and devices, advanced 3.3 percent to 250 yen. The company and General Electric Co. (GE US) have developed a smart meter for the Japanese market through a joint venture, the Nikkei newspaper reported.
Hino Motors Ltd. (7205) (7205 JT), a maker of trucks and buses, gained 4.4 percent to 453 yen. The company said it will post a 12 billion yen ($149 million) net profit this fiscal year, compared with a loss of 10 billion yen last year.
Kansai Electric Power Co. (9503 JT), Japan’s second-biggest electricity supply company by sales, gained 1.6 percent to 1,298 yen. The company was boosted to “buy” from “hold” by Citigroup Inc.
Monogatari Corp. (3097) (3097 JT), an operator of restaurants, fell 2.4 percent to 1,444 yen. The company said it will sell new shares to the public for 1,434 yen each to raise 867.2 million yen.
Tokyo Electric Power Co. (9501 JT), owner of the crippled Fukushima Dai-Ichi nuclear plant, soared 32 percent to 329 yen, extending yesterday’s 25 percent gain. The government yesterday said Japan will guarantee loans by banks to a third-party organization established to ensure the utility can compensate victims of the nuclear accident. Also the Tokyo Stock Exchange yesterday raised the collateral requirement for short sales of the shares to 50 percent from 30 percent.
Tokyo Tatemono Co. (8804 JT), a developer, gained 3.3 percent to 282 yen. The company was raised to “overweight” from “equal-weight” by Morgan Stanley MUFG Securities Co.
Toyota Auto Body Co. (7221 JT), which assembles minivans, station wagons and compact trucks, advanced 6.5 percent to 1,303 yen. The company forecast a 64 percent increase in full-year net income to 9.5 billion yen.
Toyota Industries Corp. (6201) (6201 JT), an assembler of motor vehicles and automotive parts, rose 4.1 percent to 2,505 yen. The company forecast 46 billion yen in full-year net income, with the outlook for a 6.1 percent increase in revenue.
Toyota Tsusho Corp. (8015) (8015 JT), a trading company, advanced 2.8 percent to 1,363 yen. The company forecast full-year operating profit to rise to 86 billion yen from 85.3 billion yen a year earlier.
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