Japan Stocks: Advantest, Hitachi Construction, NTN, Panasonic | Japan's Nikkei 225 Stock Average
Japan's Nikkei 225 Stock Average fell 110.03, or 1.1 percent, to 9,938.41 as of 10:02 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.
Advantest Corp. (6857 JT), the world's biggest maker of memory-chip testers, tumbled 7.4 percent to 1,393 yen. The company said net income fell 56 percent to 346 million yen ($4.5 million) in the three months ended June 30, while sales increased 14 percent.
Chugoku Electric Power Co. (9504 JT), a utility, dropped 2.1 percent to 1,278 yen. The company said it will have a 4 billion yen net loss in the six months ending Sept. 30, compared with a profit of 1.2 billion yen a year earlier.
Fujitsu General Ltd. (6755 JT), a maker of air-conditioning units partly owned by Fujitsu Ltd., leapt 5.1 percent to 624 yen, set for the highest close since December 2007. The company boosted its net income forecast to 3.5 billion yen from 1.7 billion yen for the six months through Sept. 30 because of strong sales of air conditioners in Japan and abroad.
Hitachi Construction Machinery Co. (6305 JT jumped 4.4 percent to 1,755 yen, set for the biggest gain since July 2010. The company boosted its forecast for net income to 3.8 billion yen from 1.5 billion yen for the six months ending Sept. 30, citing higher sales of parts and cost reductions.
Hitachi High-Technologies Corp. (8036 JT), a trading company, retreated 2.7 percent to 1,693 yen. The company had its rating cut to "neutral" form "buy" at Nomura Holdings Inc.
Keihin Corp. (7251 JT), a maker of parts for cars and machinery, gained 1 percent to 1,770 yen. The company boosted its full-year net income forecast to 7.1 billion yen from 2.6 billion yen. It expects car sales will increase as supply chains recover from Japan's March earthquake disaster, according to a statement to the Tokyo Stock Exchange.
NTN Corp. (6472 JT), a bearing maker, climbed 2.8 percent to 480 yen. The company forecast full-year net income will rise 22 percent on higher sales. Separately, NTN said it will spend a total of 526 million yen, offering 100 yen per share, to buy smaller rival Nippon Kagaku Yakin Co. (5995 JO). Nippon Kagaku Yakin soared 41 percent to 99 yen.
Nissan Shatai Co. (7222 JT), a car assembler, advanced 4.3 percent to 662 yen. The company narrowed net loss forecast to 1.4 billion yen from 2.5 billion yen for the six months ending Sept. 30.
NTT Data Corp. (9613 JT), a network-services company, tumbled 5 percent to 270,400 yen. Operating profit probably fell 10 percent to about 12 billion yen for the April-June period, the Nikkei newspaper reported without citing anyone. Profitability worsened as costs increased, according to the report.
Panasonic Corp. (6752 JT), an electronics maker will, rose 1 percent to 933 yen. The company to sell washing-machine and refrigerator operations run by subsidiary Sanyo Electric Co. (6764 JP) in Japan and Southeast Asia to Haier Group Corp. (HRGCZ CH) for about 10 billion yen, the Nikkei newspaper reported without citing anyone. Panasonic said it was not the source of the report and no decision has been made. Read More
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