Bloomberg News

Japan Stocks: Dainippon Screen, Mitsui O.S.K., Sugi, Toshiba

December 12, 2011

Dec. 12 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 117.36, or 1.4 percent, to 8,653.82 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.

Shipping lines: Mitsui O.S.K. Lines Ltd. (9104 JT) led shipping companies higher after Credit Suisse Group AG said rates for the largest ships that haul dry-bulk raw materials such as iron ore rose to this year’s high. Also, the Baltic Dry Index, a broader gauge of raw-materials cargo costs, gained 2.1 percent on Dec. 9.

Mitsui O.S.K. rallied 6.4 percent to 299 yen. Nippon Yusen K.K. (9101 JT) advanced 4.3 percent to 195 yen. Kawasaki Kisen Kaisha Ltd. (9107 JT) climbed 3.6 percent to 144 yen.

Anest Iwata Corp. (6381 JT), a maker of compressors and painting machines, rose 2.2 percent to 326 yen after saying it will retire 2.25 percent of its outstanding shares on Dec. 28.

Dainippon Screen Manufacturing Co. (7735 JT), a chip- equipment maker, jumped 4.6 percent to 636 yen. Nomura Holdings Inc. boosted the investment rating on Dainippon Screen to “buy” from “neutral,” saying demand from South Korea’s memory-chip makers will likely grow.

Dr. Ci:Labo Co. (4924 JT), a cosmetics developer, tumbled 7.2 percent to 384,500 yen. Daiwa Securities Group Inc. cut its equity rating to “underperform” from “neutral.”

Lintec Corp. (7966 JT), a maker of adhesive products, gained 3 percent to 1,470 yen. CLSA Asia Pacific Markets maintained an “outperform” rating, citing strong sales of Lintec’s coated film for multilayer ceramic capacitors. The company expects “robust” demand from Korea to boost revenue in the second half, CLSA said in a report dated Dec. 9.

Nippon Steel Corp. (5401 JT) advanced 3.1 percent to 198 yen, while Sumitomo Metal Industries Ltd. (5405 JT) rose 3.6 percent to 143 yen. Japanese regulators will approve a merger of the steel producers, the Asahi newspaper said, with the companies aiming to complete the tie-up by October 2012.

Nitto Seimo Co. (3524 JT) surged by its upper daily limit of 50 yen, or 45 percent, to 160 yen, the biggest gain since January 2002. The fishery-equipment maker raised its full-year net-income outlook 50 percent to 150 million yen ($1.9 million), saying rebuilding efforts after the earthquake was lifting sales.

Olympus Corp. (7733 JT), the scandal-hit camera maker, soared 7.8 percent to 1,300 yen, after saying it won’t miss a deadline for reporting earnings that would have resulted in the company being delisted. Olympus said in a faxed statement that “plans for submitting a second-quarter earnings report by December 14 are going forward,” adding that it will hold a press conference on Dec. 15 in Tokyo.

Sugi Holdings Co. (7649 JT), a drugstore chain, climbed 3.2 percent to 2,196 yen. The retailer’s sales at stores open for at least 13 months rose 2.5 percent in November compared with a year earlier.

Tokyo Electric Power Co. (9501 JT), the owner of the crippled Fukushima Dai-Ichi nuclear power plant, lost 4.5 percent to 236 yen. The utility is in talks with KDDI Corp. (9433 JT) to sell its 17 percent stake in Japan Cablenet Ltd. for about 10 billion yen, the Nikkei reported. KDDI rose 0.7 percent to 493,500 yen.

Toshiba Corp. (6502 JT), Japan’s biggest maker of nuclear reactors, increased 3.3 percent to 348 yen. U.S. Nuclear Regulatory Commission Chairman Gregory Jaczko voted to certify the AP1000 reactor of Toshiba’s Westinghouse Electric unit, which Southern Co. and Scana Corp. plan to build near existing plants in Georgia.

Yamazaki Baking Co. (2212 JT), Japan’s largest bread maker, rose 2.3 percent to 1,032 yen. SMBC Nikko Securities Inc. raised the equity rating on Yamazaki Baking to “neutral” from “underperform,” citing lower costs to import ingredients.

--With assistance from Yoshiaki Nohara and Kanoko Matsuyama in Tokyo. Editor: Jim Powell.

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