Japan Stocks: Advantest, Elpida, Marubeni, Olympus, Showa Denko
Japan’s Nikkei 225 (NKY) Stock Average rose 84.35 or 1 percent, to 8,823.25 as of 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.
Semiconductor-related companies gained after ASML Holding NV, Europe’s biggest equipment maker in the sector, said fourth- quarter orders will increase as customers add capacity and upgrade to more advanced machines.
Marubeni Corp. (8002) (8002 JT), a Japanese trading company, gained 2.6 percent to 430 yen. Marubeni and Teekay LNG Partners LP are acquiring a liquefied natural gas tanker unit of A.P. Moeller-Maersk A/S for $1.4 billion in cash.
Olympus Corp. (7733) (7733 JT), an optical-equipment maker, rose 4.6 percent to 2,482 yen. Goldman Sachs Group Inc. raised the company’s rating to “buy” from “neutral” and boosted the target price for the next two years to 3,800 yen from 2,400 yen. Profitability will increase dramatically over the next few years because of Olympus’s competitive advantage in the endoscope market as the company transforms into a global medical equipment supplier, Goldman said in a report today.
Showa Denko K.K. (4004 JT), a producer of chemical products, rose 2.7 percent to 154 yen. The company’s operating profit this year through September is likely to rise 31 percent to 36 billion yen from a year earlier, the Nikkei newspaper reported without naming a source.
Taisho Pharmaceutical Holdings Co. (4581 JT) fell 5.5 percent to 6,070 yen. The company cut its net income forecast 18 percent to 11.5 billion yen for the period ended in September.
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