Nov. 7 (Bloomberg) -- Japan’s Nikkei 225 Stock Average fell 34.31, or 0.4 percent, to 8,767.09 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.
Asahi Glass Co. (5201 JT) sank 6.2 percent to 622 yen, its lowest since May 2009. The glass maker cut its full-year net- income outlook 22 percent to 90 billion yen ($1.15 billion) on a longer-than-expected slump in the liquid-crystal display market and Thai floods disrupting its supply chain.
Asics Corp. (7936 JT), a sporting-goods maker, plunged 11 percent to 966 yen, its biggest drop since October 2008. The company cut its full-year net-income forecast 19 percent to 11 billion yen, saying overseas subsidiaries may be hurt by the yen’s appreciation.
DeNA Co. (2432 JT), a social-networking service provider, gained 5 percent to 2,759 yen. The company said it agreed to buy 66.9 percent of Yokohama BayStars baseball team from Tokyo Broadcasting System Holdings Inc. for 9.5 billion yen. Separately, DeNA will partner on online games with Daum Communications Corp. (035720 KS), South Korea’s No. 2 web-portal operator, Fuji News Network reported on its website today.
Furukawa Electric Co. (5801 JT), a cable maker, tumbled 12 percent to 192 yen, its steepest decline since October 2008. The company revised its full-year forecast to a loss of 5 billion yen from a 3 billion yen profit, citing the stronger yen and flooding in Thailand.
Hirose Electric Co. (6806 JT), an electric-equipment maker, lost 3.7 percent to 7,010 yen. The company cut its full-year operating-profit forecast 12 percent to 19.5 billion yen. It also trimmed its second-half dividend from 75 yen to 55 yen.
Kirin Holdings Co. (2503 JT) slipped 3.5 percent to 937 yen, its lowest since March 2009. The beverage maker cut its full- year net-income forecast 48 percent to 27 billion yen. The company cited securities losses and impairment of fixed assets for its outlook.
Konami Corp. (9766 JT), a video-game developer, rose 3.8 percent to 2,590 yen, extending its 5.5 percent gain from its last close after lifting its net-income outlook 32 percent. Konami expects net income of 18.5 billion yen in the fiscal year ending March 31, compared with an earlier forecast of 14 billion yen, the company said before close of trading on Nov. 4.
Mitsumi Electric Co. (6767 JT), an electronic-parts maker, plummeted 14 percent to 524 yen. The company widened its forecast for a full-year loss to 10 billion yen from 6 billion yen. Mitsumi cited larger-than-expected declines in product prices and a stronger yen for the revised outlook.
Nikon Corp. (7731 JT), a camera maker, gained 3.1 percent to 1,799 yen. The company said net income in the six months ended Sept. 30 jumped to 50.4 billion yen from 10.6 billion yen a year earlier, as sales grew by 22 percent. The company also cut its full-year net-income forecast 8.3 percent to 55 billion yen, saying flooding in Thailand hurt its output.
Nippon Shokubai Co. (4114 JT), a chemicals maker, advanced 3.5 percent to 850 yen after raising its full-year net-income forecast 30 percent to 21.5 billion yen on growing demand in emerging countries. In a separate announcement, it said it will retire 3.77 percent of its outstanding shares on Nov. 21.
NTN Corp. (6472 JT), a bearing maker, slid 2.7 percent to 330 yen. The company cut its full-year net-income forecast 20 percent to 14 billion yen after the yen strengthened and the value of its securities fell.
Olympus Corp. (7733 JT), reeling from a scandal over $687 million in fees for a $2 billion acquisition, sank 7.5 percent to 1,034 yen, the lowest since March 1998. Barclays Capital cut its stock price estimate to 1,000 yen from 1,900 yen, saying the unclear transaction risk and the related negative impact on its digital camera and other operations may further drag on the share price.
Oriental Land Co. (4661 JT), the operator of Tokyo Disney Resort, climbed 4.6 percent to 8,190 yen. The company forecast net income of 29.4 billion yen for the year ending March 31, compared with a 22.9 billion yen gain a year earlier.
Osaka Securities Exchange Co. (8697 JQ), Japan’s second- biggest bourse, jumped 7.3 percent to 391,500 yen. It entered final talks with Tokyo Stock Exchange Group Inc. to unite Japan’s largest bourse operators next year, the Nikkei newspaper reported, without citing a source. TSE will offer to buy as much as 66 percent of Osaka, the Nikkei said today. TSE said in a Japanese-language statement on its website that it had made no decision like that reported today. Osaka’s bourse also said there was no decision.
--With assistance from Chris Cooper in Tokyo. Editors: Nick Gentle, Jim Powell.
To contact the reporters on this story: Norie Kuboyama in Tokyo at firstname.lastname@example.org; Masaaki Iwamoto in Tokyo at email@example.com.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org