Japan Stocks: Daiwa House, Nissin Electric, Japan Tobacco
Japan’s Nikkei 225 (NKY) Stock Average fell 66.23, or 0.7 percent, to 9,448.21 at 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.
Daiwa House Industry Co. (1925 JT), Japan’s biggest home builder by market value, rose 2.3 percent to 1,029 yen. The company expects operating profit to rise to a record for the current year on higher sales following the nation’s biggest earthquake.
Japan Tobacco Inc. (2914) (2914 JT), the world’s second-biggest listed tobacco maker by market value, sank 3.5 percent to 303,000 yen. The company said domestic cigarette sales by volume fell 38.2 percent in May to 7.2 billion from a year earlier.
Kakaku.com Inc. (2371 JT), a Japanese online price- comparison service, surged 7 percent to 595,000 yen, the highest close on record. The company was raised to “outperform” from “neutral plus” at Cosmo Securities Co.
Kansai Electric Power Co. (9503 JT), a utility, sank 2 percent to 1,157 yen. Equity shareholders have sent a proposal to the utility to pull out of nuclear power business, Kyodo news reported, without citing anyone.
Leopalace21 Corp. (8848) (8848 JT), a Japanese real estate company, surged 32 percent to 124 yen. Toyo Keizai forecast net income will surge to 8.5 billion yen ($106 million) in the 12 months ending March 31, 2013. The number compares with a 40.1 billion yen net loss for the year ended March.
Nissin Electric Co. (6641 JT), a maker of equipment for electrical substations, increased 3.1 percent to 766 yen. The company was raised to “outperform” from “neutral” at Mitsubishi UFJ Morgan Stanley.
Obic Co. (4684 JT), a computer-system provider, dropped 2 percent to 14,110 yen. The company reported full-year net income of 7.37 billion yen ($91.5 million), compared with its forecast of 12 billion yen.
Renesas Electronics Corp. (6723) (6723 JT), the world’s largest maker of microcontrollers used in cars, gained 3.5 percent to 747 yen. The company said it will restore output of chips made at its Naka plant to pre-earthquake levels by September, by shifting some production to other factories. The company earlier expected production to recover by October, according to a statement to the Tokyo Stock Exchange.
Sanrio Co. (8136 JT), the Japanese maker of Hello Kitty character goods, advanced 3 percent to 3,490 yen. The company said it will buy back up to 0.2 percent of its outstanding shares.
Toyota Motor Corp. (7203) (7203 JT), the world’s largest carmaker by sales, sank 2.4 percent to 3,220 yen. The company forecast full-year net income to decline 31 percent to 280 billion yen, from 408 billion yen a year earlier.
Webmoney Corp. (2167 JQ), a web-based clearing services provider surged 14 percent to 325,500 yen, and KDDI Corp. (9433 JT), a mobile-phone operator, dropped 2.4 percent to 576,000 yen. KDDI offered to pay as much as 19.7 billion yen to buy out Webmoney, which has agreed on the offer, according to statements to the Tokyo Stock Exchange.
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