Japanese Stocks: Nikon, Nintendo, Sumitomo Rubber, Toyota
Japan’s Nikkei 225 (NKY) Stock Average rose 104.88, or 1.2 percent, to 8,733.01 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Fujicopian Co. (7957 JO), a maker of thermal-transfer ribbons used in thermal printers, gained 3.5 percent to 120 yen. The company said it will buy back up to 2.47 percent of its outstanding shares.
Namco Bandai Holdings Inc. (7832) (7832 JT), a game maker, rose 2.8 percent to 965 yen. Namco Bandai and DeNA Co. (2432 JT) will form a venture in Japan to develop games for smartphones. Namco Bandai, a toymaker, will own 75 percent of the company and DeNA the rest, according to a statement. DeNA fell 0.1 percent to 3,775 yen.
Matsuya Co. (8237 JT), a department store operator, climbed 4.4 percent to 425 yen. The retailer more than doubled its full- year net income forecast to 4.2 billion yen ($54.6 million) from 1.8 billion yen, citing a gain from sale of its fixed assets.
Megane Top Co. (7541 JT), an eyeglass retailer, leapt 4.1 percent to 1,328 yen after saying it will conduct a three-for- two stock split.
Mitsubishi Motors Corp. (7211) (7211 JT) rose 2.2 percent to 93 yen. Standard & Poor’s Ratings Service raised its long-term credit rating outlook on the automaker to “stable” from “negative.”
Nikon Corp. (7731) (7731 JT), the world’s second-largest maker of single-lens reflex cameras, rallied 4.1 percent to 1,662 yen. Nikon aims to generate record operating profit in the imaging products division for the fiscal year ending March 2014 by increasing sales of its digital single-lens reflex cameras in emerging countries, the Nikkei newspaper reported.
Nintendo Co. (7974 JO), the world’s largest maker of video- game players, jumped 8.4 percent to 13,100 yen. There is a potential for re-rating Nintendo’s intellectual property rights following Google Inc.’s (GOOG US) purchase of Motorola Mobility Holdings Inc. (MMI US), MF Global analyst Jay Defibaugh said in a note.
Proto Corp. (4298) (4298 JQ), a provider of information about new and used cars, advanced 2.7 percent to 2,436 yen. The company raised its planned full-year dividend to 85 yen per share from 75 yen.
Right On Co. (7445 JT), a retailer of jeans and casual wear, increased 2 percent to 408 yen. The company said same-store sales climbed 10.8 percent in the month ended Aug. 20 from a year earlier as customer traffic surged.
Sumitomo Rubber Industries Ltd. (5110) (5110 JT), a tiremaker, gained 3.7 percent to 920 yen. Deutsche Bank AG boosted its investment rating on Sumitomo Rubber to “buy” from “hold,” saying the company may post a record profit next year, buoyed by “price hikes, lower natural rubber prices, and greater sales in Asia.”
Toyota Motor Corp. (7203) (7203 JT), the world’s biggest carmaker by market value, rose 2.3 percent to 2,763 yen. Toyota and Ford Motor Co. (F US) said they plan to collaborate to develop a hybrid system for pickup trucks and sport-utility vehicles as U.S. fuel-economy rules tighten.
Village Vanguard Co. (2769 JQ), a retailer of books, CDs and videos, rallied 5.8 percent to 317,500 yen. The company said it will conduct a 2-for-1 stock split.
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