Asahi Glass Co. (5201 JT) slumped 3.7 percent to 694 yen. The glass producer's operating profit fell 18 percent to 140 billion yen ($1.8 billion) in the nine months ended September as falling prices for liquid-crystal glass substrates hurt its performance, the Nikkei newspaper reported, without citing a source. The company may cut its full-year earnings outlook, the report said.
M3 Inc. (2413 JT), a medical-information service provider, lost 4.1 percent to 360,500 yen. Nomura Holdings Inc. lowered its investment rating on M3 to “neutral” from “buy.”
Namco Bandai Holdings Inc. (7832 JT) soared 8 percent to 1,138 yen, on track for its highest close since October 2008. The toymaker boosted its full-year net-income forecast 77 percent to 15 billion yen on higher-than-expected sales.
Nippon Electric Glass Co. (5214 JT) tumbled 11 percent to 730 yen. The glassmaker said first-half net income fell 42 percent to 24.9 billion yen, citing sluggish sales of its products used for flat-panel displays.
Olympus Corp. (7733 JT) rallied 12 percent to 1,230 yen. Olympus Chairman and President Tsuyoshi Kikukawa resigned yesterday after scrutiny over $687 million in fees to advisers wiped out more than half the company's market value. Separately, Olympus said the fees paid in its 2008 takeover of Gyrus Group Ltd. were “not unreasonably high.” The company said it chose Axes America LLC as a takeover adviser because of its ability to negotiate and select targets.
PGM Holdings K.K. (2466 JT), golf-course operator, was bid at 46,850 yen, poised to rise from yesterday's close of 39,850 yen. Heiwa Corp. (6412 JT) slumped 9.1 percent to 1,296 yen after the pachinko-machine maker offered 52,000 yen for each share of PGM Holdings. It will spend as much as 65 billion yen buying the stock, according to a statement from Heiwa.
Premier Investment Corp. (8956 JT), a real estate trust, fell 3.1 percent to 260,400 yen, heading for the lowest close since March 2009. The company plans to raise as much as 15.1 billion yen by selling shares to the public, according to a filing with Japan's finance ministry.
Resona Holdings Inc. (8308 JT) rose 3 percent to 343 yen. The lender may raise its first-half net income estimate to more than 100 billion yen from 75 billion yen by the end of the month, the Nikkei newspaper reported.
SBI Net Systems Co. (2355 JT), a developer of Internet security software, advanced 5.7 percent to 8,020 yen. SBI Holdings Inc. (8473 JT), a venture-capital fund manager, said it plans to acquire SBI Net Systems in a stock transaction. SBI Holdings slid 0.8 percent to 6,520 yen.
Shimano Inc. (7309 JO), a maker of bicycle equipment and fishing gear, slipped 4.5 percent to 3,740 yen. The company said net income fell 21 percent to 11.4 billion yen in the nine months ended Sept. 30.
Shinko Electric Industries Co. (6967 JT), a maker of semiconductor packages, plunged 9.4 percent to 549 yen. The company swung to a first-half loss of 2.67 billion yen from a 2.17 billion yen profit a year earlier. Shinko cited sluggish demand for personal computers and digital home appliances as well as the yen's appreciation against the dollar.
Tadano Ltd. (6395 JT), a crane maker, climbed 4.5 percent to 515 yen. The company raised its full-year net-income forecast by a third to 2 billion yen, citing demand from overseas energy companies and lower administration costs.
Toho Titanium Co. (5727 JT), a smelter of the metal, jumped 8 percent to 1,639 yen. The company narrowed its full-year outlook for a net loss to 300 million yen from 500 million yen, citing cost cuts.
Tokyo Seimitsu Co. (7729 JT), a maker of chip-manufacturing equipment, gained 5.3 percent to 1,524 yen. Net income at Tokyo Seimitsu was 5.9 billion yen in the six months ended Sept. 30, beating its profit outlook by 34 percent on higher-than-expected sales, according to a preliminary earnings statement.
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