Bloomberg News

Japan Stocks: Dainippon Screen, Hitachi, OSG, Softbank, Sony

October 06, 2011

Oct. 7 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 96.94, or 1.1 percent, to 8,618.96 at the 11 a.m. 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.

Dainippon Screen Manufacturing Co. (7735 JT) soared 6.3 percent to 527 yen, while Tokyo Electron Ltd. (8035 JT) gained 4.6 percent to 3,720 yen. Deutsche Bank AG boosted the investment ratings on the makers of semiconductor equipment to “buy” from “hold.”

G-mode Co. (2333 JQ) jumped 5.6 percent to 28,100 yen. Gaia Holdings Corp. (3727 JT) rose 2.2 percent to 59,300 yen. Gaia plans to buy G-mode through a stock transaction. Gaia, which holds 56.84 percent of the mobile game developer, will swap 49.5 shares for each G-mode share, after conducting a 100-for-1 stock split on Dec. 20, according to a statement.

Hitachi Ltd. (6501 JT), a maker of nuclear reactors, increased 2.7 percent to 377 yen. Hitachi settled a lawsuit with Chubu Electric Power Co. (9502 JT) over a claim by the utility relating to damage to turbines at its Hamaoka nuclear plant, Hitachi said in a statement. Chubu Electric rose 1.8 percent to 1,514 yen.

JM Technology Inc. (2423 JF) was bid at 37,500 yen and poised to rise from last close of 30,500 yen. The engineering company is the object of a takeover bid by software developer Mamezou OS Holdings Co. (3756 JT), which is offering 70,000 yen per share, according to statements by both companies yesterday. Mamezou OS shares rose 2.8 percent to 97,700 yen.

Nomura Real Estate Holdings Inc. (3231 JT) advanced 4.6 percent to 1,165 yen. The developer may beat its fiscal-year target by 500 condominium units, generating about 25 billion yen in additional sales, the Nikkei newspaper said, citing President Kamezo Nakai.

OSG Corp. (6136 JT), a machine-tool maker, surged 10 percent to 966 yen. Net income advanced 44 percent to 4.14 billion yen in the nine months through August, buoyed by growing overseas sales. The company also said it will spend up to 2.5 billion yen to buy back as many as 3.47 percent of its total shares.

Ryohin Keikaku Co. (7453 JT), the operator of the Muji retail chain, tumbled 8.5 percent to 3,920 yen. The company said net income in the six months ended Aug. 31 rose 27 percent to 4.22 billion yen, 2.1 percent less than the retailer’s forecast.

Softbank Corp. (9984 JT) climbed 4.2 percent to 2,403 yen. KDDI Corp. (9433 JT) rose 2.1 percent to 572,000 yen. KDDI, Japan’s second-largest mobile phone carrier, set a 13 percent higher price for unlimited wireless data downloads than smaller rival Softbank.

KDDI “has started out by avoiding price competition with Softbank,” Goldman Sachs Group Inc. said in a report today. “In our view, this should prevent a sharp narrowing of revenue growth potential due to the shift to smartphones and we think there will be a feeling of relief in the stock market that KDDI and Softbank have avoided the worst-case scenario.”

Sony Corp. (6758 JT), Japan’s biggest exporter of consumer electronics, lost 3.3 percent to 1,421 yen. Sony is getting closer to an agreement to buy Ericsson AB’s stake in their mobile-phone venture, the Wall Street Journal reported, citing people familiar with the matter. Nomura Holdings Inc. separately cut Sony’s equity rating to “neutral” from “buy.”

Sumitomo Chemical Co. (4005 JT) increased 2.9 percent to 283 yen. The company plans to invest about 4 billion yen to expand its Sodegaura plant, east of Tokyo, which produces wafers for antenna switches and signal amplifiers for smartphones and tablet computers, the Nikkei newspaper said.

Tact Home Co. (8915 JT) climbed 4 percent to 70,000 yen. The builder said it will buy back up to 4.22 percent of its outstanding shares through March 31.

Yonekyu Corp. (2290 JT), a maker of processed meat products, soared 7.5 percent to 631 yen, is on course for the biggest rise since April 2009. The company said first-half net income advanced 46 percent to 739 million yen. The company also said it will buy back as much as 6.03 percent of its outstanding shares through Dec. 30.

--Editor: Jim Powell, Jason Clenfield.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net.


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