Bloomberg News

Japan Stocks: JX Holdings, Komatsu, Mitsubishi, Yamaha Motor

December 01, 2011

Dec. 1 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 162.77, or 1.9 percent, to 8,597.38 as of the 3 p.m. trading close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Mining and trading firms: JX Holdings Inc. (5020 JT), Mitsui & Co. (8031 JT), Mitsui Mining & Smelting Co. (5706 JT) and Pan Pacific Copper Co. decided to raise investment in a Chilean molybdenum mine to $3 billion from $2 billion, according to a statement to the Tokyo Stock Exchange. The project should generate sufficient profits as copper prices have risen, the statement said.

JX Holdings rose 2.3 percent to 492 yen. Mitsui & Co. added 4.2 percent to 1,231 yen. Mitsui Mining gained 3.6 percent to 201 yen.

Access Co. (4813 JT), a developer of Internet browser software, fell 3.3 percent to 38,000 yen. It reported a net loss of 1.92 billion yen ($24.7 million) for the nine-month period ended Oct. 31, wider than a 1.24 billion yen loss a year earlier, according to a statement to the Tokyo Stock Exchange.

Komatsu Ltd. (6301 JT), the world’s second-largest construction machinery maker, surged 7.2 percent to 2,032 yen. It is looking for potential acquisition targets in the U.S. and Europe and plans to conclude a deal within three years, President Kunio Noji said.

Mitsubishi Corp. (8058 JT), a trading company, gained 4.7 percent to 1,624 yen. The company purchased rights to explore for shale gas, shale oil and sands gas in West Australia’s Kimberly region, the Nikkei newspaper reported without citing anyone. The firm bought half of Blue Energy Ltd.’s rights for joint exploration, and it will pay A$100 million through the end of next year.

Olympus Corp. (7733 JT) rose 2.3 percent to 1,049 yen. Former Chief Executive Officer Michael Woodford resigned as a director of the company and urged a shareholder meeting to choose a new management team. Woodford wants to return to lead the scandal-hit company, he said in a statement.

--Editors: Jason Clenfield, Nick Gentle

To contact the reporter on this story: Yoshiaki Nohara in Tokyo at ynohara1@bloomberg.net

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


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