Japan Stocks: DeNA, Fuji Heavy Industries, Honda, Zappallas
Japan’s Nikkei 225 Stock Average (NKY) rose 11.95, or 0.1 percent, to 8,609.33 as of 9:35 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
DeNA Co. (2432 JT), a social-network website operator, rose 6.5 percent to 2,481 yen. Baseball team owners approved DeNA Co.’s takeover of the Yokohama BayStars baseball team, Chairman Makoto Haruta told reporters. DeNA last month agreed to acquire a majority stake in the team from Tokyo Broadcasting System Holdings Inc.
Fuji Heavy Industries Ltd. (7270 JT) fell 5 percent to 421 yen. Subaru, a unit of Fuji Heavy Industries, is halting sales of three of its four 2012 models in the U.S. as it recalls the cars for a brake defect. About 3,000 Impreza, Legacy and Outback vehicles are affected, said Michael McHale, a U.S.-based spokesman for the company.
Honda Motor Co. (7267 JT), Japan’s second largest carmaker by market value, fell 0.5 percent to 2,472 yen. It reported its U.S. sales unexpectedly fell 6.4 percent in November. The automaker cited reduced production at North American plants resulting from floods in Thailand that disrupted parts supply. Analysts expected Honda to report a 2.6 percent increase, according to the average of five estimates.
Kumiai Chemical Industry Co. Ltd. (4996 JT), an agrochemical manufacturer rose 7.6 percent to 296 yen. Net income at the firm rose to 1.3 billion yen ($17 million) in the year ended Oct. 31, beating a forecast of 900 million yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. An increase in herbicide sales contributed to the result, the company said.
Toyota Motor Corp. (7203 JT), Asia’s biggest carmaker, added 0.2 percent to 2,572 yen. Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, will supply Toyota with diesel engines under a partnership agreement signed by the two companies. BMW will supply Toyota with 1.6-liter and 2-liter engines for the Japanese company’s models in Europe starting in 2014, the two automakers said in a joint statement released in Tokyo.
Zappallas Inc. (3770 JT), a producer of Internet content for mobile phone users, fell 2.5 percent to 69,800 yen. The company reported net income for the six months ended Oct. 31 was 833 million yen, down from 973 million yen a year earlier, according to a statement to the Tokyo Stock Exchange.
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