Japan Stocks: Daiichi Jitsugyo, Olympus, Sony, TSI Holdings
Japan’s Nikkei 225 (NKY) Stock Average rose 131.64, or 1.5 percent, to 8,879.60 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.
Daiichi Jitsugyo Co. (8059 JT), a machinery trader, fell 1.8 percent to 330 yen. The company cut its net-income forecast for the year ending March 31 to 2.3 billion yen ($30 million) from 2.6 billion yen after booking a loss of 551 million yen on its shareholdings.
Olympus Corp. (7733) (7733 JT), an optical-equipment maker, slumped 24 percent to 1,555 yen. The company may face regulatory and legal scrutiny because of payments made to advisers in a 2008 transaction, according to a PricewaterhouseCoopers report commissioned by ousted president Michael C. Woodford.
Potential offenses include false accounting, financial assistance and breaches of duties by the board, according to an Oct. 11 report that Woodford provided to Bloomberg News.
Sony Corp. (6758) (6758 JT), Japan’s No. 1 exporter of consumer electronics, rose 5 percent to 1,607 yen. Sony Ericsson Mobile Communications AB posted third-quarter sales and pretax profit that exceeded analysts’ estimates after sales climbed in Asia. Pretax profit fell 53 percent to 31 million euros ($43 million), the 50-50 handset joint venture of Sony Corp. and Ericsson AB said in a statement. The figure beat the average estimate of 22.6 million euros in an SME Direkt survey.
TSI Holdings Company Ltd. (3608 JT), a clothing maker, slid 4.1 percent to 396 yen. The company said it expects a net loss of 4 billion yen for the year ending Feb. 29. The company, which previously forecast net income of 1.7 billion yen for the period, cited a prolonged economic slowdown and weaker consumer spending after the March earthquake.
To contact the reporter on this story: Yoshiaki Nohara in Tokyo at email@example.com
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org