Japan Stocks: Ajinomoto, Capcom, Elpida, Honda, Nidec Sankyo
Japan’s Nikkei 225 (NKY) Stock Average rose 142.36, or 1.7 percent, to 8,660.93 as of the 11 a.m. trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Ajinomoto Co. (2802 JT), a seller of food products, fell 1.9 percent to 884 yen. The company said it sued Mylan Inc. in Japan, claiming the U.S. generic-drug maker violated its patent for an osteoporosis drug.
Bridgestone Corp. (5108 JT), Japan’s biggest tiremaker by revenue, gained 2.4 percent to 1,724 yen. The firm said it will invest $11 million in China to build a new plant producing foam for automobile seats.
Capcom Co. (9697 JT), a developer of consumer video game software, rose 4 percent to 2,046 yen. The company increased its net income forecast for the period from April through on Sept. to 800 million yen from 200 million.
Elpida Memory Inc. (6665) (6665 JT), a maker of semiconductors, jumped 5.8 percent to 568 yen. The company may shift some production from its plant in Hiroshima, Japan, to Taiwan as part of its plans to cope with a strong yen and an industry slump, according to a statement to the Tokyo Stock Exchange.
Honda Motor Co. (7267 JT), Japan’s second largest carmaker by revenue, rose 3.5 percent to 2,376 yen. The firm plans to expand its proportion of domestic minicar production to 40 percent of total production from the current 25 percent in the next five years, Akemi Ando, the automaker’s spokeswoman in Tokyo said.
The company plans to produce hybrid cars in China in two to three years, the Nikkei newspaper reported.
Maezawa Kasei Industries Co. (7925 JT), a manufacturer of synthetic resin products, rose 3.2 percent to 808 yen. The firm boosted its net income forecast for April-September by 87.5 percent to 450 million yen.
Maruzen CHI Holdings Co. (3159 JT), a bookstore operator fell 6.9 percent to 243 yen. The firm reported a net loss of 328 million yen in the period from February through July. That compared with a net loss of 32 million yen a year earlier.
Nidec Sankyo Corp. (7757) (7757 JT), a maker of electronic components, rose 6.1 percent to 451 yen. The company said it plans to buy back up to 2.6 percent of its shares.
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