TOKYO, Nov 27 (Reuters) - The following stocks are on the move on Wednesday.
**SQUARE UNDER PRESSURE AFTER MERGER-LED RISE**
Square Co Ltd down 8.23 percent at 1,840 yen, reversing course after an earlier rise and the previous session's rally by six percent on news it and fellow game software maker Enix Corp would merge in April to fend off brewing competition.
"The merger news has been factored in," said Koichi Kawata, deputy head of equities at Sakura Friend Securities.
Large sell orders on Square were placed through Commerzbank Securities, E*Trade Japan, and Shinko Securities.
One Square share will be exchanged for 0.81 share in Enix, which is currently trading up 2.76 percent at 2,235 yen, extending Tuesday's climb of 16 percent. 0500 GMT
**NO SPLASH FOR JINENDO IN MARKET DEBUT**
Jinendo Co Ltd, operator of a chain of public bathing houses, first traded at 2,200 yen, on par with its initial offering price in its debut on the Jasdaq over-the-counter market.
Of the 300,000 new shares and 50,000 existing shares offered, 133,600 shares changed hands on its first day of trade.
Jinendo is one of only a few operators of a chain of large bathhouses in Japan. Jinendo's facilities also include restaurants and massage rooms. 0430 GMT
**TOWA REAL ESTATE UP ON FINANCIAL SUPPORT**
Towa Real Estate Development Co Ltd up 9.09 percent or 3 yen at 36 after the struggling property firm said on Tuesday that UFJ Holdings Inc and other creditors had agreed to throw it financial lifeline worth 230 billion yen.
The widely anticipated move saw units of UFJ Holdings, Towa's main creditor and the smallest of Japan's four megabanks, offer 192.03 billion yen in aid through debt waivers and debt-for-equity swaps. 0417 GMT **BROKERS UP ON REPORT OF POSSIBLE SECURITIES TAX BREAKS**
Daiwa Securities Group Inc , Japan's second-biggest brokerage house, up 3.4 percent at 517 yen and rival Nomura Holdings Inc up 1.67 percent at 1,398 after a newspaper report on possible securities tax breaks helped revive hopes that individual investors may return to the stock market.
Business daily Nihon Keizai Shimbun said on Wednesday the ruling Liberal Democratic Party's tax council is discussing adopting a 10 percent capital gains tax rate for short-term stockholdings.
The capital gains tax rate for stockholdings is now 26 percent, but is due to be cut to 20 percent from January for short-term stocks. Plans are already in place to cut the rate for stocks held long-term to 10 percent from January. 0200 GMT **NIPPON SEIKI UP ON REPORT LCD ORDERS SOAR**
Nippon Seiki Co Ltd, an auto-parts maker which also produces liquid crystal displays (LCDs), up 20 percent at 468 yen, biggest percentage gainer on second section of Tokyo Stock Exchange.
Nikkan Kogyo Shimbun reported on Wednesday that the company, based in city of Nagaoka in northern Japan, has seen LCD orders rise 300 percent since July from year earlier, with demand rising especially from overseas mobile phone makers. 0150 GMT **MIZUHO UP ON SHORT-COVERING BEFORE REFORM DETAILS**
Mizuho Holdings Inc, the world's biggest bank by assets, up 4.1 percent at 127,000 yen, helping send the banking subindex up 1.08 percent.
Smaller rival UFJ Holdings Inc perked up 1.67 percent to 122,000, now 42 percent above last Wednesday's record low of 86,000 yen.
Shares of top banks were underpinned by short-covering before the government unveils a timetable, expected Friday, for implementing ideas on bank reforms outlined in an earlier report on speeding up bad loan disposal.
"Hedge funds are still covering short positions in the banking sector ahead of the government's reform plan due at the end of the week," said Koichi Seki, manager of equities at Chuo Securities. "Banks should continue to firm till then." 0128 GMT **HONDA DOWN AFTER U.S. CONSUMER DATA LAGS FORECAST**
Honda Motor Co Ltd, Japan's second-biggest automaker, down 1.32 percent at 4,500 yen, falling together with some other exporters after weaker-than-expected U.S. consumer confidence data fuelled fears of slack U.S. consumer spending during the crucial Christmas shopping season.
The Conference Board, a U.S. private business group, said its consumer confidence index rebounded to 84.1 in November from 79.6 in October. The data missed analysts' consensus forecasts of 85.2 and weighed on U.S. stocks and the dollar.
The recent firmness in the yen has been a negative for Japanese exporters as it deflates the value of their overseas profits when repatriated. 0105 GMT **KIKKOMAN UP ON UPBEAT FORECAST, RESULTS**
Kikkoman Corp up 26 yen or 3.39 percent at 792, compared with a 0.51 percent rise in the foods sector subindex .
On Tuesday, Japan's biggest soy sauce maker announced solid half-year earnings and raised its full-year group net profit forecast to 7.9 billion yen ($65 million), up seven percent from its initial estimate.
Group net profit totalled 3.62 billion yen for April-September, up 40 percent from a year earlier, partly helped by a softer yen. 0038 GMT **JUKI PLUNGES AFTER CUTTING PROFIT TARGET**
Juki Corp down 10.59 percent or 27 yen at 228 after the world's biggest maker of industrial sewing machines said on Tuesday that it had cut its group net profit target for the year to March by one billion yen ($8.23 million) to 1.5 billion yen.
It was the biggest loser by percentage on the Tokyo Stock Exchange's main board.
The company also posted a 92 percent fall in net profit to 244 million yen for the six months to September, and halved its dividend forecast for the year to 3.0 yen per share. 0035 GMT **DAIO PAPER DOWN ON CONVERTIBLE BOND ISSUANCE**
Daio Paper Corp down 5.51 percent or 49 yen at 840 after Japan's third-largest papermaker said on Tuesday that it plans to issue up to 25 billion yen ($206 million) of convertible bonds to fund the redemption of a previous bond issuance.
If converted, the bonds would dilute per share value. 0030 GMT **ENIX BID-ONLY, SQUARE UP ON MERGER NEWS**
Enix Corp bid-only with no sellers at 2,335 yen, up 7.36 percent from the previous close, and Square Co Ltd up 0.75 percent at 2,020.
Both stocks extended gains on Tuesday's news the game software makers planned to merge in April, with an eye to sharing resources and technology to better compete in the rapidly changing industry.
On Wednesday, Enix, known for its blockbuster "Dragon Quest" series, jumped 16 percent and Square, creator of the hit "Final Fantasy" role-playing games, put on 6.42 percent.
At the merger, one Square share would be exchanged for 0.81 share in Enix. 0028 GMT **SOFTBANK UP ON REPORT OF POSSIBLE STOCK SALES** Softbank Corp up 3.4 percent at 1,428 yen on a newspaper report the company is in talks to sell some of its stockholdings to help reduce its heavy debt load.
The Nihon Keizai Shimbun reported on Wednesday the struggling Internet services group is in final negotiations with at least two overseas investment funds to sell a roughly 30 percent stake in unlisted Aozora Bank.
Softbank's share price has risen about 70 percent since hitting a year-to-date low of 827 yen last Monday in a rally sparked by an investment upgrade on the issue by Deutsche Securities.
Aozora Bank will announce its half-year earnings later on Wednesday. 0010 GMT ($1=121.55 yen)