Asahi Breweries, Canon Machinery, Right On, Takashimaya: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 123.27, or 1.3 percent, to 9,570.67 at the close of trading in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Asahi Breweries Ltd. (2502 JT) declined 3.1 percent to 1,528 yen. Japan’s beermaker may report a group operating profit of about 22.5 billion yen ($252 million) for the six months ending June 30, falling short of the 24 billion yen forecast, Nikkei English News reported.
Right On Co. (7445 JT) tumbled 11 percent to 615 yen, the lowest close since March 2003. The retailer of jeans and casual wear cut its full-year dividend forecast to 10 yen a share from 20 yen. The company said net income for the nine months ended May 20 fell 77 percent to 424 million yen from a year earlier.
Satori Electric Co. (7420 JT) soared 8.6 percent to 721 yen. The trader of electronic equipment said in preliminary earnings statement its full-year net income increased to 1.1 billion yen from its 900 million yen forecast.
Takashimaya Co. (8233 JT) slid 1.1 percent to 737 yen. The department-store operator raised its full-year net income forecast to 11 billion yen from 8 billion yen. The company said it plans to terminate its U.S. operations to relocate resources to faster-growing markets in Asia.
Tokki Corp. (9813 JQ) jumped 5.3 percent to 398 yen, while Canon Machinery Inc. (6344 JO) was unchanged at 2,010 yen. Canon Inc. (7751 JT) offered to buy out the two companies effective Oct. 1. Canon lost 2.7 percent to 3,395 yen.
Topy Industries Ltd. (7231 JT) dropped 3.6 percent to 187 yen. The maker of steel products registered to sell as much as 40 billion yen of bonds, according to a filing today with Japan’s finance ministry.
Weathernews Inc. (4825 JT) surged 14 percent to 1,208 yen, the steepest climb since November 2008. The weather forecasting service provider said full-year net income rose 20 percent to 1.42 billion yen from a year earlier.