Japan Equity Movers: Yahoo, Tasaki, Hokuetsu Kishu, TV Asahi

Topix closes ~0.1% higher for 11th day of gains, longest win streak since Aug. 2009. Metals groups lead gains while insurers fall. Volume 37% above 30-day avg. Nikkei +0.1%.

ADVANCERS:

  • Yahoo Japan (4689 JP) +12%; confirms e-commerce alliance with Alibaba
  • Tasaki (7968 JP) +9.5%; Chow Tai Fook said to weigh bid for co.; MBK Partners said to seek 1st-round bids by today
  • Osaka Titanium (5726 JP) +9.2%, Toho Titanium (5727 JP) +6.7%; price targets raised at Credit Suisse, maintained at outperform on expectation for increased capacity utilization
  • Nippon Parking Development (2353 JP) +6.2%; 9-mo. oper. profit +16% to 2.56b yen, sales +15% to 13.7b yen
  • Penta-Ocean Construction (1893 JP) +6%; raise to buy from neutral at Nomura
  • Hokuetsu Kishu Paper (3865 JP) +4.9%; posts prelim. net income of 8.3b yen for FY ended March 31 vs guidance 6b yen; oper. profit 6.1b yen vs co. target 5.5b yen; will report corrected prior statements on impact of employee embezzlement
  • Nabtesco (6268 JP) +4.9%; to buy back, cancel as much as 3.14% of shrs
  • JSR (4185 JP) +2.9%; raised to overweight at Barclays

DECLINERS:

  • Namura Shipbuilding (7014 JP) -6%; cuts full-yr oper. profit forecast 28% to 4.3b yen; reduces sales target 1.4% to 144b yen
  • TV Asahi (9409 JP) -4.7%; cut to underweight to neutral at Mitsubishi UFJ Morgan Stanley, PT 1,800 yen
  • Disco (6146 JP) -2.8%; cut to neutral at SMBC Nikko, PT 13,300 yen
  • Japan Airport Terminal (9706 JP) -2.7%; downgraded to sell from hold at Mitsubishi UFJ Morgan Stanley, PT 4,020 yen