Anicom Holdings, Arrk, Kawasaki Kisen, Yahoo: Japanese Stocks
Japan’s Nikkei 225 Stock Average (NKY) rose 44.00, or 0.5 percent, to 9,751.37 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.
Shipping companies: The group rose as the Baltic Dry Index (BDIY), a measure of shipping costs for commodities, gained 1.7 percent yesterday, rising for a sixth day. Nippon Yusen K.K. (9101) (9101 JT), Japan’s biggest shipping line by sales, added 1.7 percent to 243 yen. Kawasaki Kisen Kaisha Ltd. (9107) (9107 JT), the third-largest, advanced 4.1 percent to 178 yen.
Anicom Holdings Inc. (8715) (8715 JT), a pet-health insurer, fell 3.1 percent to 617 yen. Sony Assurance Inc. bought 6.5 percent of the Anicom. The insurer also plans to acquire options that could raise its stake to 7.2 percent.
Arrk Corp. (7873) (7873 JQ), which supports new product development, surged 17 percent to 96 yen after trimming its net loss forecast by 11 percent to 8 billion yen, the company said in a statement, citing a recovery in Japanese and European markets and a cut in fixed costs.
Tokyo Electric Power Co. (9501) (9501 JT) gained 2.6 percent to 233 yen. The utility, known as Tepco, plans to cut more than 3 trillion yen in costs over 10 years, Kyodo News reported, citing people it said were close to the utility. Separately, Tepco plans to keep higher electricity rates for three years, the Yomiuri newspaper reported, without saying where it got the information.
Yahoo Japan Corp. (4689) (4689 JT), an Internet company, rose 2.9 percent to 26,310 yen after naming Manabu Miyasaka as president and chief executive officer to replace Masahiro Inoue, who is stepping down in June, according to a statement.
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