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June 13 (Bloomberg) -- Kakaku.com Inc., a Japanese online price-comparison service, gained the most in almost three months in Tokyo trading after Cosmo Securities Co. raised its rating, citing an increase in smartphone users.
Kakaku.com rose as much as 6.3 percent to a record, the biggest intraday advance since March 17, and traded 5.2 percent higher at 585,000 yen as of 9:57 a.m. on the Tokyo Stock Exchange. The benchmark Topix index fell 0.6 percent.
“More smartphone users will visit Kakaku.com’s sites,” Tomoaki Kawasaki, an analyst at Cosmo, said today by phone. “Smartphone sales are dramatically growing, and the March 11 earthquake changed Japanese consumer sentiment. Now, more people compare product prices to try and save money.”
Kawasaki raised his rating on Kakaku.com to “outperform” from “neutral plus” on June 10 and increased his six-month share-price estimate to 700,000 yen from 550,000 yen. The shares rose as far as 591,000 yen today, the highest since the company’s 2003 listing.
The group’s websites recorded 71.2 million visitors in May, up 30 percent from a year earlier, Kakaku.com said June 6.
Kakaku.com last month forecast net income to rise 22 percent to 5.6 billion yen ($69 million) in the year started April 1.
--Editors: Dave McCombs, Terje Langeland
To contact the reporter on this story: Kazuyo Sawa in Tokyo at firstname.lastname@example.org
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