Japan Stocks: Ibiden, Komatsu, Kyocera, Nikon, Softbank, Sony
Japan’s Nikkei 225 (NKY) Stock Average rose 123.93, or 1.4 percent, to 9,050.47 at the 3 p.m. close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
CyberAgent Inc. (4751) (4751 JT), an online advertising agency, surged 17 percent to 271,100 yen, the biggest gain since November 2009. The company said it will buy back up to 1.33 percent of its outstanding shares. It also expects a 16 percent rise in net income to 8.5 billion yen ($112 million) this fiscal year.
EBook Initiative Japan Co. (3658 JT) was bid at 1,748 yen, poised to rise from its initial offering price of 760 yen. The electronic-book seller debuts on the Tokyo Stock Exchange’s Mothers market today.
Exedy Corp. (7278) (7278 JT) plunged 13 percent to 2,419 yen, the steepest drop since November 2008. The auto-parts maker lowered its full-year net income outlook 13 percent to 10 billion yen, citing foreign exchange losses.
Ibiden Co. (4062 JT), a maker of electronics and ceramics, tumbled 11 percent to 1,743 yen, its sharpest drop since November 2008. The company cut its full-year net-income forecast 73 percent to 3.3 billion yen, citing losses related to a stronger yen.
JVC Kenwood Holdings Inc. (6632) (6632 JT), a home-electronics maker, jumped 10 percent to 319 yen, after boosting its full- year net-income forecast 63 percent to 6.5 billion yen.
Kikuchi Seisakusho Co. (3444 JQ), a die maker, was traded at 1,020 yen, compared with an initial offering price of 1,100 yen. The company started trading on the Osaka Securities Exchange’s Jasdaq Standard market today.
Komatsu Ltd. (6301) (6301 JT), the world’s second-biggest maker of construction and mining machinery, jumped 5.6 percent to 2,023 yen. The company plans to buy back as much as 1.65 percent of its outstanding shares for up to 30 billion yen from Nov. 7 to Dec. 28. The company also lowered its full-year net-income forecast 7 percent to 186 billion yen.
Kyocera Corp. (6971) (6971 JT), a manufacturer of electronic parts, slid 3.5 percent to 6,950 yen. The company cut its full-year net-income forecast 22 percent to 87 billion yen, citing Europe’s financial difficulties and the yen’s appreciation.
Nikon Corp. (7731) (7731 JT), the world’s third-biggest camera maker, gained 2.6 percent to 1,757 yen. First-half net income beat Nikon’s forecast by 39 percent after it sold more digital cameras than expected, according to a preliminary earnings statement.
Nippon Light Metal Co. (5701 JT), an aluminum producer, slumped 4.8 percent to 118 yen, reversing earlier gains, after the company cut its full-year net-income forecast 35 percent on lower sales to semiconductor and liquid-crystal-display makers.
Olympus Corp. (7733) (7733 JT), under fire from shareholders amid investigations into payments tied to a 2008 takeover, slumped 10 percent to 1,217 yen. The stock has plunged after a fired executive revealed that the company paid advisers $687 million in the $2 billion acquisition of Gyrus Group Ltd.
Omron Corp. (6645) (6645 JO), a maker of electronic components, sank 6 percent to 1,740 yen. The company lowered its full-year net-income outlook 21 percent to 27 billion yen, citing the currency’s appreciation.
Sharp Corp. (6753 JT), Japan’s largest producer of liquid- crystal displays, climbed 6.2 percent to 737 yen. The company said first-half operating profit fell 23 percent to 33.6 billion yen, beating its forecast by 5 percent on cuts to administrative costs. Sharp reduced its annual sales and operating profit forecast citing a stronger yen and weakness in the U.S. and European economies.
Softbank Corp. (9984) (9984 JT), Japan’s third-largest mobile- phone carrier, jumped 8.4 percent to 2,655 yen. First-half net income soared to a record 217.3 billion yen from 76.8 billion yen a year earlier, helped by sales of Apple Inc.’s iPhone.
Sony Corp. (6758) (6758 JT), Japan’s leading exporter of consumer electronics, rose 3.6 percent to 1,709 yen. Sony agreed to acquire a 50 percent stake in its 10-year-old mobile-phone venture with Ericsson AB (ERICB SS). Its partner will get 1.05 billion euros ($1.5 billion) in cash for its interest in Sony Ericsson Mobile Communications AB, the Swedish company said in a statement.
Terumo Corp. (4543) (4543 JT), a maker of medical devices, soared 6.1 percent to 4,105 yen. The company on Nov. 10 plans to retire 21 million shares, or 9.96 percent of its outstanding stock, according to a statement. Terumo also cut its net-income outlook to 32.5 billion yen from 38.5 billion yen.
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