Japan Stocks: DeNA, Suzuki, Star Micronics, NTT DoCoMo, Wesco
Japan’s Nikkei 225 (NKY) Stock Average rose 21.33, or 0.3 percent, to 8,557.00 as of 9:18 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Asahi Co. (3333 JT), a bicycle retailer, rose 2.3 percent to 1,768 yen. Asahi raised its full-year net income outlook 30 percent to 3.1 billion yen as the March earthquake boosted demand for an alternative to train transportation.
DeNA Co. (2432 JT), a website operator, rose 2.4 percent to 3,905 yen. The company will acquire U.S. game-developer Punch Entertainment Inc.’s (PUNL US) Vietnam unit. The purchase will be completed in September, DeNA said in a release.
NTT DoCoMo Inc. (9437) (9437 JT), Japan’s largest phone operator, fell 1.3 percent to 142,500 yen. A group of Japanese firms led by NTT DoCoMo is in talks with Samsung Electronics Co. (005930 KS), a Korean electronics maker, to develop phone chips, the Nikkei newspaper reported without citing anyone. Other participating firms are Fujitsu Ltd. (6702) (6702 JT), NEC Corp. (6701) (6701 JT), Panasonic Mobile Communications Co. (6781 JP), the report said.
Star Micronics Co. (7718 JT), a maker of card readers, advanced 9.4 percent to 736 yen. The firm raised its full-year net income projection 36 percent to 1.5 billion yen, citing rising machine tool orders in the U.S. and Europe. Also, the company said it will buy back up to 2.32 percent of its outstanding shares through Oct. 14. Star Micronics also plans to retire 2.08 percent of its total shares on Oct. 31.
Suzuki Motor Corp. (7269) (7269 JT), an automaker, rose 3.1 percent to 1,530 yen. It will seek to dissolve its 20-month-old alliance with Volkswagen AG after the German carmaker’s 222.5 billion yen investment failed to yield a single project. The Japanese automaker, which owns 1.49 percent of Volkswagen, plans to sell its holdings if the German automaker agrees to end the tie-up, the company said. Volkswagen now owns 19.9 percent of Suzuki, according to Bloomberg data. Suzuki declined 2.8 percent to 1,484 yen.
Toyota Motor Corp. (7203) (7203 JT), the world’s biggest carmaker, fell 0.6 percent to 2,609 yen. Fitch Ratings has downgraded Toyota’s long-term foreign and local currency issuer default ratings and senior unsecured debt rating to A from A+. The outlook is stable.
United Arrows Ltd. (7606) (7606 JT), an apparel chain, gained 7.8 percent to 1,538 yen. The company raised its full-year net income forecast to 4.61 billion yen, citing an increase in same- store sales in the first-half. The retailer had forecast a profit range of 4.2 billion to 4.42 billion yen.
Wesco Inc. (9648 JO), a construction engineering company, advanced 12 percent to 169 yen. The firm said it will buy back up to 4.37 percent of its outstanding shares.
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