Japan Stocks: JX Holdings, Komatsu, Mitsubishi, Yamaha Motor
Japan’s Nikkei 225 Stock Average (NKY) rose 177.39, or 2.1 percent, to 8,612 as of the 11:30 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.
Mining and trading firms: JX Holdings Inc. (5020 JT), Mitsui & Co. (8031 JT), Mitsui Mining & Smelting Co. (5706 JT) and Pan Pacific Copper Co. decided to raise investment in a Chilean molybdenum mine to $3 billion from $2 billion, according to a statement to the Tokyo Stock Exchange. The project should generate sufficient profits as copper prices have risen, the statement said.
JX Holdings rose 2.9 percent to 495 yen. Mitsui & Co. added 4.1 percent to 1,230 yen. Mitsui Mining gained 3.6 percent to 201 yen.
Komatsu Ltd. (6301 JT), the world’s second-largest construction machinery maker, surged 6.5 percent to 2,018 yen. It is looking for potential acquisition targets in the U.S. and Europe and plans to conclude a deal within three years, President Kunio Noji said.
Mitsubishi Corp. (8058 JT), a trading company, jumped 5.1 percent to 1,630 yen. The company purchased rights to explore for shale gas, shale oil and sands gas in West Australia’s Kimberly region, the Nikkei newspaper reported without citing anyone. The firm bought half of Blue Energy Ltd.’s rights for joint exploration, and it will pay A$100 million through the end of next year.
Olympus Corp. (7733 JT) rose 5.4 percent to 1,080 yen. Former Chief Executive Officer Michael Woodford resigned as a director of the company and urged a shareholder meeting to choose a new management team. Woodford wants to return to lead the scandal-hit company, he said in a statement.
Yamaha Motor Co. (7272 JT), a motorcycle maker, rose 2.1 percent to 1,068 yen. It plans to restore its full output in Thailand by year-end, the Nikkei newspaper reported. Thailand flooding cut the firm’s motorcycle production by about 40,000 units, the newspaper reported on its website, citing President Hiroyuki Yanagi.
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