Nippon Shokubai, Nomura Real Estate, Sagami Chain, Saizeriya: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 121.55, or 1.3 percent, to 8,995.14 as of the close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Daiichi Sankyo Co. (4568 JT) advanced 2.4 percent to 1,678 yen. Japan’s third-largest drugmaker had its share price estimate increased to 1,700 yen from 1,600 yen by Mitsubishi UFJ Morgan Stanley Securities Co.
Eisai Co. (4523 JT) climbed 1.5 percent to 3,055 yen. The maker of the world’s bestselling Alzheimer’s disease treatment said its novel experimental medicine for epilepsy was shown to be effective in a late-stage study in Asia and Europe.
Mitsui Chemicals Inc. (4183 JT) retreated 2.7 percent to 217 yen, a level not seen since Dec. 10. The chemical maker had its share price estimate cut to 260 yen from 300 yen by Citigroup Global Markets Japan Inc.
Nippon Shokubai Co. (4114 JT) plunged 8.3 percent to 761 yen, the sharpest slide since October 2008. The chemical maker plans to raise as much as 20 billion yen ($235 million) by selling as many as 25 million shares, according to a filing with Japan’s finance ministry.
Nishimatsuya Chain Co. (7545 JT) sank 2.1 percent to 744 yen, the lowest close since Dec. 15. The apparel retailer said same-store sales in the month ended Aug. 20 dropped 2 percent as average spending per customer fell 3.2 percent. Customer traffic increased 1.3 percent.
Nomura Real Estate Holdings Inc. (3231 JT) tumbled 6.3 percent to 1,119 yen. The property developer was cut to “underperform” from “neutral” at Credit Suisse Group.
Sagami Chain Co. (9900 JT) lost 3.9 percent to 496 yen. The noodle restaurant chain widened its net loss forecast for the year ending Jan. 20, 2011, to 890 million yen from 710 million yen because of impairment losses on fixed assets. The company posted a loss of 2.93 billion yen a year earlier.
Saizeriya Co. (7581 JT) rose 2.6 percent to 1,683 yen. The Italian-food restaurant chain may show an operating profit of about 14 billion yen for the current year through Aug. 31, beating a forecast of 13.5 billion yen, Nikkei English News said without saying where it got its information.
Sumitomo Trust & Banking Co. (8403 JT) advanced 1.3 percent to 468 yen. Chuo Mitsui Trust Holdings Inc. (8309 JT) gained 1.3 percent to 312 yen. Sumitomo Trust is in talks with Chuo Mitsui to reach a final merger agreement. It made the announcement in a press release in response to a Nikkei newspaper report that the companies will sign the agreement today.
Yamaichi Electronics Co. (6941 JT) dropped 3 percent to 225 yen. The maker of integrated-circuit sockets will sell shares to the public for 225 yen each to raise as much as 970.6 million yen, according to a filing with Japan’s finance ministry.