Japan Stocks: Mizuho, OncoTherapy, Oriental Land, Tepco
Japan’s Nikkei 225 (NKY) Stock Average fell 139.55, or 1.5 percent, to 9,338.98 at the midday trading break in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.
Mizuho Financial Group Inc. (8411) (8411 JT), Japan’s third- largest publicly traded bank, sank 3.5 percent to 138 yen. The company’s banking unit will be inspected by Japan’s Financial Services Agency after the lender had system problems including failures of its automated teller machines, the regulator said on its website.
Nippon Chemi-Con Corp. (6997) (6997 JT), a maker of electronic parts, soared 12 percent to 382 yen. The company was boosted to “outperform” from “neutral” by George T. Chang, a Tokyo- based analyst at Macquarie Group Ltd.
Nomura Co. (9716 JT), a commercial-display contractor, plunged 15 percent to 247 yen. The company said it’s unable to post a full-year earnings forecasts because of the difficulty in assessing the impact from March 11’s earthquake. Full-year net income fell 1 percent to 403 million yen.
OncoTherapy Science Inc. (4564) (4564 JT), a pharmaceuticals researcher, surged 18 percent to 173,500 yen, set for the biggest gain since October 2008, after saying it has signed a contract with Ono Pharmaceutical Co. (4528 JO) to provide the drugmaker exclusive rights to develop, make and sell peptide vaccines used for a cancer treatment in Japan, South Korea and Taiwan. Ono rose 0.9 percent to 3,995 yen.
Oriental Land Co. (4661 JT), an operator of Tokyo Disney Resort, rallied 4.2 percent to 6,370 yen. Tokyo Disneyland and Disney Sea had no major damage from the March 11 earthquake. They are able to open, Oriental Land said on its Web site.
Tokyo Electric Power Co. (9501 JT), Asia’s largest utility, was offered at 566 yen, 19 percent less than yesterday’s close. Fukushima Dai-Ichi nuclear reactors remain in “serious condition,” said U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko, who was visiting Japan to assess the damage from the accident, Kyodo News reported. Also, Japan’s Prime Minister Naoto Kan said the situation at the radiation-leaking nuclear plant is unpredictable as hazardous conditions hamper efforts to prevent the spread of harmful nuclear materials. Dai-ichi Life Insurance Co. (8750 JT), Tepco’s second-biggest shareholder, tumbled 8.5 percent to 112,800 yen.
Zojirushi Corp. (7965) (7965 JO), a maker of electric kitchen appliances, leapt 4.3 percent to 218 yen. The company said first-quarter net income jumped 65 percent to 1.15 billion yen.
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