Japanese Stocks: Honda, JS Group, Nippon Yusen, Tokyo Steel
Japan’s Nikkei 225 (NKY) Stock Average fell 34.78 or 0.4 percent, to 8,738.90 at the 3 p.m. trading close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Shippers: Shipping lines rose after the Baltic Dry Index, a measure of shipping costs for commodities, rose for a fifth day yesterday. Nippon Yusen K.K., Japan’s biggest shipping line by sales, jumped 5.2 percent to 202 yen. Mitsui O.S.K. Lines Ltd., the second-largest, increased 6.4 percent to 301 yen. Kawasaki Kisen Kaisha Ltd. (9107), the No. 3, advanced 6 percent to 159 yen.
Thailand flooding: Honda Motor Co. (7267 JT), Japan’s second-largest carmaker by market value, fell 2.2 percent to 2,295 yen. Toyota Motor Corp. (7203), the No. 1, slid 0.3 percent to 2,582 yen. Honda and Toyota are among automakers that temporarily suspended production in Thailand after flooding in Ayutthaya province shut down auto-parts factories.
The disaster has also shut down factories at Nikon Corp. (7731) (7731 JT), a camera maker, and Pioneer Corp. (6773) (6773 JT), an electronics maker, the Nikkei newspaper reported. Nikon fell 3.5 percent to 1,780 yen. Pioneer slid 4.3 percent to 314 yen.
JS Group Corp. (5938)(5938 JT), a housing materials maker, fell 12 percent to 1,800 yen. It cut its net-income estimate for the six months ended September by 22 percent after a greater-than- expected impact from Japan’s March 11 earthquake.
Tokyo Steel Manufacturing Co. (5423 JT) slid 2.2 percent to 703 yen. The steelmaker said it expects a net loss of 3.4 billion yen for the six-month period ended in September.
Yamaha Motor Co. (7272 JT), a motorcycle maker, rose 8.3 percent to 1,066 yen. The company has won an order for 3,000 fishing vessels after ships were damaged by the March earthquake and tsunami, according to weekly magazine published by Diamond Inc.
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