Nippon Sheet Glass Co., which counts Europe as its biggest market, sank 2.9 percent. Honda Motor Co., an automaker that gets about 40 percent of its revenue from North America, slid 2.1 percent after U.S. consumer confidence unexpectedly slumped. Copper smelter Sumitomo Metal Mining Co. sank 2.1 percent after metal prices fell. Olympus Corp., the maker of endoscopes under fire for $687 million in payments to advisers, dropped 1.2 percent after being placed on margin trading watch list by the Tokyo Stock Exchange.
Japan’s Nikkei 225 (NKY) Stock Average fell 88.73, or 1 percent, to 8,673.58 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.
Clarion Co. (6796 JT), a maker of car-audio equipment, jumped 5.3 percent to 140 yen. Net income was about 1.7 billion yen ($22.3 million) in the six months ended Sept. 30, compared with a forecast loss of 200 million yen, on lower fixed costs, according to a preliminary earnings statement.
Hitachi Ltd. (6501) (6501 JT), a maker of products from electronics to nuclear reactors, rose 2.7 percent to 420 yen. The company said in a preliminary earnings statement that first- half net income was five times more than its forecast on cost- cutting and a faster-than-expected recovery from the March earthquake.
Hitachi Chemical Co. (4217 JT) lost 3 percent to 1,344 yen after the chemical producer cut its full-year net-income projection 26 percent to 17 billion yen.
Kao Corp. (4452) (4452 JT), a household products maker, sank 4.6 percent to 2,029 yen. The company said first-half net income rose 10 percent to 30.7 billion yen, compared with a forecast of 32 billion yen. Nomura Holdings Inc. cut its investment rating to “neutral” from “buy,” trimming the target price to 2,400 yen from 2,700 yen.
Minebea Co. (6479 JT), a ball-bearing maker, gained 3.7 percent to 280 yen. Nomura Holdings Inc. boosted its equity rating on Minebea to “buy” from “neutral,” saying the company’s earnings may hit the bottom in the October-December period and will likely start picking up.
Poletowin Pitcrew Holdings Inc. (3657 JT), a provider of video-game testing services, was bid at 2,730 yen, higher than its initial offering price of 2,250 yen per share. The company debuts today on the Tokyo Stock Exchange’s Mothers market.
Relo Holdings Inc. (8876) (8876 JQ), a property manager, climbed 4.2 percent to 1,699 yen. The Tokyo Stock Exchange approved the company to move the shares to the bourse’s first section from the second as of Nov. 1, the company said in a release.
Takara Bio Inc. (4974) (4974 JT), a biopharmaceutical company, added 2.2 percent to 421 yen. Net income for the six months ended Sept. 30 was 223 million yen, beating its forecast for a 90 million yen profit on lower costs for research, development and promotions, according to a preliminary earnings statement.
Toyota Tsusho Corp. (8015) (8015 JT), the trading company partly owned by Toyota Motor Corp., lost 4.4 percent to 1,235 yen, after Tokyo Electric Power Co. (9501 JT) said it will sell a 20 percent stake in Eurus Energy Holdings Corp. to Toyota Tsusho. Tokyo Electric, the utility known as Tepco, currently owns 60 percent of the wind power firm with Toyota Tsusho holding the rest, according to Eurus Energy’s website. Tepco slid 0.3 percent to 314 yen.
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