In Japan Daily Round-Up

Topix +0.37%, Y/$106.12
Japanese Stocks Gain in Thin Trade as Investors Seek Fresh Leads

  • Pacific Metals (5541) +2.7%, Sumitomo Metal Mining (5713) +1.8%; nickel extends rally
  • Ito En (2593) +2.5%; 1Q operating profit +2.3% y/y to 6.2b yen
  • Pigeon (7956) +2.4%; 2Q operating profit -13% y/y to 4.8b yen; analysts highlight growth in China sales
  • Universal Entertainment (6425) +2.3%; to buy back up to 1.28% of shares for 3b yen
  • Workman (7564) +2%; August same-store sales +54.7% y/y
  • H2O Retailing (8242) +1.5%; Hankyu Hanshin store sales +2.9% y/y in August
  • Tosho (8920) -8.5%; downgraded to neutral from buy at Ichiyoshi Research
  • Sumitomo Dainippon Pharma (4506) -3.6%; cut to underperform from neutral at Credit Suisse
  • Japan Tobacco To Consolidate Global Business Service Centers; Restructuring to Affect Net 6% of Workers
  • Mizuho to Offer Back-Office Trading Services to Regional Banks
  • Japan PM Abe To Revamp His Cabinet On Sept. 11: Sankei
  • Japan May Send Destroyer Near Hormuz Outside U.S. Group: Yomiuri
  • Japan to Shorten Approval Process for Gene Therapies: Nikkei
  • Aso: Haven’t Seen Big Rush Demand Ahead Of Sales Tax Hike
  • SCSK, Sumitomo Corp. Set Up Corporate VC Fund In U.S.
  • Aug comps: Domestic Uniqlo +9.9%; Adastria +5.5%; ABC Mart +1.3%; Ryohin Keikaku +12%; UNITED ARROWS +12.2%
  • Daito Construction August Construction Orders -13.6%
  • S. Korea’s Beer Imports From Japan Fall 97% Y/Y In Aug.: Maeil
  • Casio To Move US-Bound Watch Production To Thailand From China
  • Nippon Life Voted Against Nissan’s Saikawa At AGM: Filing
  • Tokyo Arb Funds Lift Short Positions to Record, Risking Squeeze
  • Haseko Rated New Overweight at Morgan Stanley; PT 1,380 Yen
  • Obayashi Cut to Underweight at Morgan Stanley; PT 1,070 Yen
  • JT Downgraded to Neutral at Nomura; PT 2,500 Yen
  • Kose Downgraded to Neutral at Okasan Securities; PT 19,000 Yen
  • Shin-Etsu Chemical Raised to Buy at Okasan Securities
  • Toray Industries Raised to Buy at Okasan Securities; PT 860 Yen
  • Taiheiyo Cement Downgraded to Neutral at Tachibana Securities
  • T&D Upgraded to Equal-weight at Morgan Stanley; PT 1,030 Yen
  • Kyowa Exeo (1951): Upgraded to outperform from neutral plus at Iwai Cosmo
  • Tokyo Electron (8035): Upgraded to neutral from underperform at Mizuho
  • Disco Upgraded to Neutral at Mizuho; PT 18,500 Yen
  • Sony Upgraded to Outperform at Tokai Tokyo; PT 8,000 Yen
  • Dai-Ichi Life Cuts Stock Holdings, U.S. Dollar Exposure: Rtrs
  • Softbank Corp Bought Back 24.1b Yen Of Shares In Aug.
  • Dalton Raises Taisei Oncho Stake To 7.43% From 6.06%
  • Ardisia Investment Raises Leopalace21 Stake To 7.47% From 5.27%
  • New 52 week highs (23): TIS, NRI, Takara Leben, Hitachi Chem, Tokyo Ohka Kogyo, Sanix, Workman, Lasertec (Storm rating: Positive), Advantest
  • New 52 week lows (66): Right On, Digital Hearts, Maruzen, SOU, Yaoko, Taisho Pharm, Kojima, Sumitomo Dainippon Pharm
  • N/A

Source: Bloomberg, Kurt Schussler

Yoshinoya (9861, Trading Buy): +2.2% & approaching its highest close since Nov 2000 as Japan’s #2 ranked gyudon operator adds its limited edition ‘Special Selection Sukiyaki Heavy’ to its menu.

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