Acom, Canon, Daiseki Eco, Kyorin, Suzutan, Yokohama Rubber: Stock Movers
(Corrects Dena’s stock price.)
Japan’s Nikkei 225 Stock Average fell 23.98, or 0.3 percent, to 9,602.11 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.
Consumer lenders: Acom Co. (8572 JT) led consumer lenders higher on speculation they will benefit from a decline in refund claims for overcharged interest. Consumer lenders are receiving fewer claims, leading to a buying spree for their stocks, said Natsumu Tsujino, an analyst at JPMorgan Chase & Co. Acom soared 17 percent to 1,548 yen. Promise Co. (8574 JT) surged 8.6 percent to 718 yen. Takefuji Corp. (8564 JT) jumped 8.1 percent to 187 yen. Aiful Corp. (8515 JT) rose 3.5 percent to 119 yen.
Canon Inc. (7751 JT), the world’s largest camera maker, advanced 1.4 percent to 3,905 yen. The company will boost profit by 50 percent in the three months ending September from the same period a year earlier on strong Asian sales of digital single- lens-reflex cameras, the Nikkei newspaper reported.
Daiseki Eco. Solution Co. (1712 JT), a soil-contamination inspector, lost 3 percent to 67,900, the lowest since its listing in December 2004. The company slashed its full-year net income forecast to 84 million yen ($982,000) from 413 million yen on a parent basis because of declines in orders.
Kyorin Holdings Inc. (4569 JT), a drugmaker, jumped 13 percent 1,368 yen, the most since February 2009. Sawai Pharmaceutical Co. (4555 JT), Japan’s second-largest maker of generic drugs, bought almost 5 percent in Kyorin and also sent the company an acquisition proposal, Nikkei English News reported. Sawai dropped 2.7 percent to 7,480 yen.
Misumi Group Inc. (9962 JT), a mail-order distributor of precision machine parts, lost 3.6 percent to 1,726 yen. The company said its sales in August climbed 44 percent to 9.45 billion yen from the same month a year ago. That was lower than the company’s target of 9.67 billion yen.
Ohsho Food Service Corp. (9936 JO), a Chinese restaurant operator, slumped 2.5 percent to 1,950 yen. The company cut its full-year net income forecast 7.8 percent to 5.45 billion yen.
Sharp Corp. (6753 JT), Japan’s biggest maker of liquid crystal display panels, slid 2.4 percent to 846 yen. The company had its rating reduced to “underweight” from “neutral” at JPMorgan Chase & Co.
Sumitomo Forestry Co. (1911 JO), a homebuilder and lumber distributor, retreated 3.4 percent to 590 yen, the lowest since Nov. 27. The company was rated “underperform” in new coverage at Mizuho Securities Co.
Suzutan Co. (8193 JT), an apparel retailer, surged 18 percent to 206 yen, the biggest gain since Sept. 14, 2009. The company reversed its forecast for the year ending Feb. 20 to a net income of 15 million yen from a loss of 140 million yen. It said cutting costs contributed to the profit.
Takihyo Co. (9982 JT), an apparel trader, tumbled 7.8 percent to 369 yen. The company cut its forecast for full-year net income to 770 million yen from 1 billion yen.
Yahoo Japan Corp. (4689 JT), an operator of Japan’s most- visited Internet portal, advanced 1.8 percent to 29,610 yen. Yahoo and Dena Co. (2432 JT), an operator of auction and shopping Web sites, will jointly start providing online games from Oct. 1, according to Noriko Kitami, Yahoo spokeswoman. Dena rose 0.6 percent to 2,714 yen.
Yokohama Rubber Co. (5101 JT), a tiremaker, climbed 1.7 percent to 432 yen. The company had its rating increased to “buy” from “neutral” at UBS AG.
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