Asahi, Canon, Fujitsu, Komori, Nidec, Renesas, Tokai Rubber: Japan Stocks
Japan’s Nikkei 225 Stock Average fell 21.00, or 0.2 percent, to 9,366.03 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.
All Nippon Airways Co. (9202 JT), Asia’s largest listed carrier by sales, rose 2.7 percent to 304 yen. The company is expected to report first-half operating profit of about 55 billion yen ($674 million), buoyed by recovering demand and cost cuts, Nikkei English News reported.
Asahi Glass Co. (5201 JT), Japan’s biggest glass producer, slid 4.2 percent to 781 yen, the lowest since Dec. 2. The company may post a 70 percent year-on-year gain in operating profit to about 53 billion yen for the July-September quarter, Nikkei English News said. That is less than the 61 billion yen earned for the April-June period because of a slowdown in the LCD glass substrate market, the report said. Asahi Glass said in a statement that it’s not source of the report and plans to announce its third-quarter earnings on Nov. 5.
Canon Inc. (7751 JT), the world’s largest camera maker, advanced 3.7 percent to 3,755 yen. The company raised its full- year net income forecast 2.1 percent to 245 billion yen, citing cost cuts and higher camera shipments.
Central Japan Railway Co. (9022 JT), the country’s biggest high-speed train operator, rose 3.8 percent to 622,000 yen. The company increased its full-year net income outlook 16 percent to 112 billion yen.
Daido Steel Co. (5471 JT), a maker of specialty steel products, jumped 6.7 percent to 399 yen after raising its full- year net income outlook 49 percent to 26 billion yen, citing higher-than-expected demand for specialty steel materials.
Fanuc Ltd. (6954 JT), Japan’s largest industrial robot maker, jumped 5.5 percent to 11,850 yen, the highest since June 2008. The company’s stock-price estimate was boosted to 15,000 yen from 11,500 yen by Nomura Holdings Inc. At least seven brokerages raised their target prices for Fanuc after the robot maker yesterday said first-half net income jumped to 55.8 billion yen from 8.96 billion yen a year earlier as sales more than doubled.
Fujitsu Ltd. (6702 JT), Japan’s biggest computer-services provider, rose 3.3 percent to 560 yen. The company said operating profit rose 96 percent to 37.2 billion yen in the three months ended Sept. 30.
Gulliver International Co. (7599 JT), a used-car retailer, tumbled 11 percent to 3,915 yen, the largest drop since October 2008. The company said it plans to raise about 4.1 billion yen by selling shares overseas.
Hitachi Metals Ltd. (5486 JT), a maker of specialty steel and metal products, dropped 3.5 percent to 881 yen. The company was cut to “neutral” from “outperform” by Shinya Yamada, a Tokyo-based analyst at Credit Suisse Group.
Kakaku.com Inc. (2371 JT), a price-comparison website company, plunged 13 percent to 380,000 yen, the sharpest drop since October 2008, after the Nikkei newspaper reported Google Inc. (GOOG US) will begin a service in Japan today that compares prices of products on online shopping sites.
Komori Corp. (6349 JT), an offset printer maker, plummeted 9.8 percent to 730 yen, the lowest since March 2009. The company widened its full-year net loss outlook to 3.5 billion yen from 2.4 billion yen as cost cuts are expected to fail to offset losses from the stronger yen.
Kuraray Co. (3405 JT), a fiber maker, increased 2.7 percent to 1,129 yen after the company raised its full-year net income projection 9.6 percent to 28.5 billion yen and its planned dividend for the year to 27 yen from 24 yen.
Makita Corp. (6586 JT), a maker of electric power tools, gained 5.1 percent to 2,848 yen. The company raised its full- year net income forecast by 26 percent to 25 billion yen as it expects higher overseas sales to offset a stronger yen.
Medipal Holdings Corp. (7459 JT), a maker of medical tools and equipment, retreated 4 percent to 916 yen, the lowest since October 2008. The company cut its full-year net income forecast 17 percent to 14.7 billion yen, citing charges from a drop in the value of fixed assets and stockholdings.
Nidec Corp. (6594 JO), the world’s biggest maker of motors for hard-disk drives, advanced 3.8 percent to 7,990 yen. The company will start making motors for industrial machinery that doesn’t need rare-earth metals to reduce reliance on the materials, the Nikkei newspaper reported.
Noritsu Koki Co. (7744 JO), a maker of photo-processing equipment, sank 6.5 percent to 460 yen, the sharpest drop since April 2009. The company reversed its full-year forecast to a net loss of 860 million yen from a 250 million yen profit, citing costs related to foreign-exchanges and reorganization.
Obic Co. (4684 JT), a computer-system provider, gained 5.2 percent to 15,050 yen. The company said first-half net income rose 9.2 percent to 6.45 billion yen on higher sales.
Renesas Electronics Corp. (6723 JT), an electronic- components maker, lost 7.8 percent to 631 yen, the lowest since Dec. 15. The company said its first-half net loss widened to 41.2 billion yen from a year-earlier loss due to a drop in the value of fixed assets. Separately, Renesas said it plans to cut 1,200 jobs through early retirement.
Shinko Electric Industries Co. (6967 JT), a maker of semiconductor packages, slid 2.9 percent to 830 yen, the lowest since February 2009. The company slashed its full-year net- income forecast by 73 percent to 2.2 billion yen, citing sluggish demand in the chip market and losses related to the stronger yen.
Sysmex Corp. (6869 JT) a maker of clinical test equipment, climbed 2.9 percent to 5,600 yen. The company said in a preliminary earnings statement that first half-year net income was 5.5 billion yen, beating its forecast by 22 percent.
Toho Titanium Co. (5727 JT), a titanium smelter, sank 5.5 percent to 2,106 yen. The company widened its full-year net loss projection to 5.6 billion yen from 4.5 billion yen, citing the stronger yen.
Tokai Rubber Industries Ltd. (5191 JT), a resin products maker, soared 8 percent 921 yen, the sharpest advance since Jan. 28, after the company raisedd its full-year net income forecast by 43 percent to 10 billion yen, citing strong demand for auto- related products.
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