Bloomberg News

Elpida, Nexon, Tokio Marine, Toyota, Yahoo Japan: Japan Stocks

February 15, 2012

Feb. 15 (Bloomberg) -- Japan’s Nikkei 225 Stock Average rose 83.45, or 0.9 percent, to 9,135.52 as of 9:30 a.m. in Tokyo. The following are among the most active shares in the Japanese market today. Stock symbols are in parentheses after company names.

Elpida Memory Inc. (6665 JT), the chipmaker facing an April deadline to repay debts, was offered at 294 yen and poised to fall from yesterday’s close of 374 yen. The company said it sees “uncertainty” over remaining in business because it still doesn’t have the necessary financing. Elpida hasn’t been able to reach a deal with the trade ministry, the Development Bank of Japan and its main lenders, the company said in a statement.

Glory Ltd. (6457 JO), a vending-machine maker, gained 3.8 percent to 1,788 yen. The company said it will acquire U.K.- based Talaris Topco Ltd. for 80 billion yen ($1 billion). The acquisition of the Carlyle Group unit will make the Japanese company the world’s top manufacturer of money-handling machines, the statement said.

Kozosushi So-Honbu Co. (9973 JQ), a sushi franchise, plunged 12 percent to 149 yen. A buyer offered to pay 140 yen per share to acquire 52.57 percent of Kozosushi’s voting rights from Skylark Co. (8180 JP), according to a statement from Kozosushi. Skylark plans to sell all of its Kozosushi shares, ending the alliance with the sushi store operator, according to another release.

Medipal Holdings Corp. (7459 JT), a maker of medical tools and equipment, jumped 5.9 percent to 969 yen. The company said it will spend as much as 10 billion yen to buy back up to 11 million shares.

Nexon Co. (3659 JT), an online game developer, slipped 2.6 percent to 1,231 yen. Nexon said net income rose 19 percent to 25.8 billion yen in the year ended Dec. 31. That’s less than the company’s earlier projection of 26 billion yen.

Nipro Corp. (8086 JT), a medical-products manufacturer, tumbled 9.1 percent to 628 yen, set for the biggest drop since October 2003. The company said it will raise as much as 27.7 billion yen by selling new shares and convertible bonds.

Showa Shell Sekiyu K.K. (5002 JT), a petroleum refiner, fell 1.7 percent to 522 yen. The company forecast a 52 percent plunge in net income to 11 billion yen this year as sales fall.

Sony Financial Holdings Inc. (8729 JT), the insurance and banking arm of Sony Corp. (6758 JT), leapt 5.3 percent to 1,398 yen. JPMorgan Chase & Co. raised the stock’s price estimate to 2,600 yen from 2,300 yen, maintaining the “overweight” rating.

Start Today Co. (3092 JT), an operator of clothing retail websites, rallied 5.5 percent to 1,584 yen. The company said the Tokyo Stock Exchange approved moving its shares to the bourse’s first or second section from the Mothers section as of Feb. 29. The company also said stakeholders will sell 8.37 million shares overseas.

Tokio Marine Holdings Inc. (8766 JT), a non-life insurer, gained 5.3 percent to 2,149 yen. The company maintained its net income forecast of 10 billion yen for the year ending March 31, even after its rivals forecast losses this fiscal year. Nomura Holdings Inc. raised its target price on the shares to 2,710 yen from 2,500 yen, keeping its “buy” rating unchanged.

Toyota Motor Corp. (7203 JT), Japan’s biggest carmaker, rose 2.4 percent to 3,195 yen. Satoshi Ozawa, chief financial officer at Toyota Motor, said he expects operating profit of 840 billion yen next fiscal year, the Nikkei newspaper reported, citing an interview. Toyota forecast operating profit of 270 billion yen this fiscal year.

Yahoo Japan Corp. (4689 JT), the operator of Japan’s most- visited Internet portal, sank 5.2 percent to 24,690 yen. Yahoo! Inc.’s discussions to sell its stake in Alibaba Group Holding Ltd. and its Japanese operations in a tax-efficient manner have reached an impasse, according to a person briefed on the matter.

--Editor: Jason Clenfield

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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