Japan Stocks: Canon, Denso, Fujifilm, Kyushu Electric, Toshiba
Japan’s Nikkei 225 Stock Average climbed 0.2 percent to 8,807.06 as of 9:33 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.
Canon Inc. (7751) (7751 JT), the world’s largest camera maker, fell 4.5 percent to 3,280 yen. The firm said its president is resigning as it forecast profit will rise this year by less than 1 percent. President and Chief Operating Officer Tsuneji Uchida will step down effective March 29 and be replaced by Chairman Fujio Mitarai, the Tokyo-based company said in a statement.
Denso Corp. (6902) (6902 JT), a supplier of air conditioners and auto parts to Toyota Motor Corp., dropped 1.2 percent to 2,288 yen. It will pay a criminal fine of $78 million after pleading guilty to price-fixing and bid-rigging in the U.S.
Fujifilm Holdings Corp. (4901) (4901 JT), a seller of films and digital cameras, slid 7.4 percent to 1,797 yen after cutting its full-year net-income forecast by 48 percent. It proposed a partnership with scandal-hit Olympus Corp. (7733 JT) and may invest in the company, Fujifilm Executive Vice President Shigehiro Nakajima said at a press conference. Olympus added 2.1 percent to 1,286 yen.
Kyushu Electric Power Co. (9508) (9508 JT) slid 2.6 percent to 1,113 yen. The utility reported a 90.5 billion yen net loss for the nine months ended Dec. 31, after a 29.5 billion profit the previous year, the company said in a statement. The company refrained from issuing an earnings forecast amid uncertainty over supply and demand conditions in the wake of the March catastrophe.
Toshiba Corp. (6502) (6502 JT), an electronics maker, lost 3 percent to 319 yen. Weak television sales and a strong yen will cut the firm’s full-year operating profit by 10 percent to about 210 billion yen, the Nikkei newspaper reported, without citing anyone.
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