Bloomberg News

Japan Stocks: Namco Bandai, Nippon Electric, Resona, Shimano

October 27, 2011

Oct. 27 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 178.07, or 2 percent, to 8,926.54 at the 3 p.m. close in Tokyo. The following were among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

M3 Inc. (2413 JT), a medical-information service provider, fell 2.5 percent to 366,500 yen. Nomura Holdings Inc. lowered its investment rating on M3 to “neutral” from “buy.”

Namco Bandai Holdings Inc. (7832 JT) soared 9.1 percent to 1,150 yen, its highest since October 2008. The toymaker boosted its full-year net-income forecast 77 percent to 15 billion yen ($1 billion) on higher-than-expected sales.

Nippon Electric Glass Co. (5214 JT) sank 7.1 percent to 758 yen. The glassmaker said first-half net income fell 42 percent to 24.9 billion yen, citing sluggish sales of its products used for flat-panel displays.

Olympus Corp. (7733 JT) surged 23 percent to 1,355 yen, the biggest gain since at least September 1974, according to Bloomberg data. Olympus Chairman Tsuyoshi Kikukawa resigned yesterday after scrutiny over fees to advisers wiped out more than half the company’s market value. Separately, Olympus said the $687 million in fees paid in its $2 billion takeover of Gyrus Group Ltd. were “not unreasonably high.” The company said it chose Axes America LLC as a takeover adviser because of its ability to negotiate and select targets.

Osaka Titanium Technologies Co. (5726 JT), a titanium smelter, soared 8.2 percent to 4,245 yen. The company boosted its full-year operating profit outlook 11 percent to 7.8 billion yen, citing higher prices of sponge titanium and cost-cutting.

PGM Holdings K.K. (2466 JT), golf-course operator, soared by its upper daily limit of 18 percent to 46,850 yen, the sharpest rise since January 2006. Heiwa Corp. (6412 JT) slumped 9.5 percent to 1,291 yen after the pachinko-machine maker offered 52,000 yen for each share of PGM Holdings. It will spend as much as 65 billion yen buying the stock, according to a statement from Heiwa.

Resona Holdings Inc. (8308 JT) rose 3.6 percent to 345 yen. The lender may raise its first-half net income estimate to more than 100 billion yen from 75 billion yen by the end of the month, the Nikkei newspaper reported.

SBI Net Systems Co. (2355 JT), a developer of Internet security software, jumped 10 percent to 8,350 yen. SBI Holdings Inc. (8473 JT), a venture-capital fund manager, said it plans to acquire SBI Net Systems in a stock transaction. SBI Holdings rose 2.7 percent to 6,750 yen.

Shimano Inc. (7309 JO), a maker of bicycle equipment and fishing gear, slipped 2.3 percent to 3,825 yen. The company said net income fell 21 percent to 11.4 billion yen in the nine months ended Sept. 30.

Shinko Electric Industries Co. (6967 JT), a maker of semiconductor packages, plunged 7.1 percent to 563 yen. The company swung to a first-half loss of 2.67 billion yen from a 2.17 billion yen profit a year earlier. Shinko cited sluggish demand for personal computers and digital home appliances as well as the yen’s appreciation against the dollar.

Toho Titanium Co. (5727 JT), a smelter of the metal, soared 8 percent to 1,639 yen. The company narrowed its full-year outlook for a net loss to 300 million yen from 500 million yen, citing cost cuts.

Tokyo Electric Power Co. (9501 JT), the utility known as Tepco, lost 4.4 percent to 306 yen. The Development Bank of Japan (DBJZ JP) may lend 300 billion yen to Tepco to help it compensate victims of the Fukushima disaster after an initial request for 500 billion yen, the Nikkei reported.

Tokyo Seimitsu Co. (7729 JT), a maker of chip-manufacturing equipment, gained 5 percent to 1,520 yen. Net income at Tokyo Seimitsu was 5.9 billion yen in the six months ended Sept. 30, beating its profit outlook by 34 percent on higher-than-expected sales, according to a preliminary earnings statement.

--Editor: Jim Powell.

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

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net


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