Bloomberg News

Japan Stocks: Advantest, Canon, Fujifilm, Kao, Kyushu Electric

January 31, 2012

Jan. 31 (Bloomberg) -- Japan’s Nikkei 225 Stock Average climbed 9.46, or 0.1 percent, to 8,802.51 at the 3 p.m. close in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Advantest Corp. (6857 JT), a maker of memory-chip testers, jumped 7.1 percent to 875 yen. The stock’s rating was raised to “neutral” from “underperform” by Daiwa Securities Capital Markets Co. Advantest is increasing sales to South Korea, boosting expectations for an earnings recovery in the fiscal 2012, Daiwa analyst Hirokazu Mitsuda wrote in a note to clients.

Canon Inc. (7751 JT), the world’s largest camera maker, fell 4.2 percent to 3,290 yen. The company said its president is resigning after it forecast profit will rise this year by less than 1 percent, missing estimates.

East Japan Railway Co. (9020 JT) rose 3.5 percent to 4,935 yen. The rail company raised its full-year forecast for operating profit 13 percent to 347 billion yen, it said in a statement.

Fujifilm Holdings Corp. (4901 JT), a seller of film and digital cameras, slid 6.9 percent to 1,807 yen after cutting its net-income forecast by 48 percent. It also proposed a capital partnership with scandal-hit Olympus Corp. (7733 JT), Fujifilm Executive Vice President Shigehiro Nakajima said at a press conference. Olympus added 2.5 percent to 1,291 yen.

Kao Corp. (4452 JT), a manufacturer of household and chemical products, slid 5.9 percent to 2,006 yen. The company cut its net-income forecast by 7 percent to 53 billion yen ($695 million) for the year ending March 31, while reporting profit of 49 billion yen for the nine months ended Dec. 31, according to a statement.

Kyushu Electric Power Co. (9508 JT) slid 4.2 percent to 1,095 yen. The utility reported a 90.5 billion yen loss for the nine months ended Dec. 31, swinging from a 29.5 billion profit in the year-earlier period. The company refrained from issuing an earnings forecast amid uncertainty about supply and demand after last year’s record quake.

Sumitomo Mitsui Financial Group Inc. (8316 JT), Japan’s second-biggest lender by market value, rose 1.5 percent to 2,425 yen after saying it will meet its full-year profit forecast and buy back as much as 80 billion yen of stock.

Toshiba Corp. (6502 JT), an electronics maker, lost 1.8 percent to 323 yen. Weak television sales and a strong yen will cut the firm’s full-year operating profit 10 percent to about 210 billion yen, the Nikkei newspaper reported, without citing anyone.

--Editors: Jim Powell, Jason Clenfield.

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