Japan Hot Stocks-We've, Sankyo Seiki, Kinugawa Rubber


TOKYO, March 25 (Reuters) - The following stocks are on the move on Tuesday. **WE'VE STARTS BELOW IPO PRICE IN JASDAQ DEBUT**

We've Inc first traded at 98,000 yen, 18.33 percent below its initial public offering price of 120,000 yen in the animation film producer's debut on the Jasdaq over-the-counter market.

By mid-morning the stock had firmed to 118,000 yen, 1.67 percent below its IPO price. Traders say the stock is likely to attract attention after Japanese animator Hayao Miyazaki won an Oscar on Sunday for best animated feature with the box-office hit "Spirited Away". 0113 GMT **SANKYO SEIKI DOWN AFTER WIDENING LOSS FORECAST**

Electronic components maker Sankyo Seiki Mfg Co Ltd down 9.57 percent at 170 yen after the company widened its group net loss forecast for the year ending March 31 to 9.8 billion yen ($81.17 million) from a previous estimate of 5.4 billion yen. 0057 GMT **KINUGAWA RUBBER SOARS AFTER HIKING PROFIT FORECAST**

Kinugawa Rubber Industrial Co Ltd up 15 percent at 115 yen after the car rubber parts maker on Monday forecast a group operating profit of 2.2 billion yen ($18.2 million) for the year ending March 31, raising its previous target of 1.7 billion yen.

Kinugawa Rubber was the top percentage gainer on the first section.


Mitsui Home Co Ltd ask-only at 434 yen, 5.45 percent below Monday's close of 459, after the home builder affiliated with Mitsui Fudosan Co on Monday forecast a group net loss of 1.2 billion yen ($9.94 million) for the year ending on March 31.

That reversed its previous forecast of a 450 million yen profit. Mitsui Home blamed the revision on a special loss of 1.5 billion yen partly due to appraisal losses on its shareholdings.


Sony Corp down 1.75 percent at 4,480 yen and leading declines in blue-chip exporters after U.S. stocks sank three percent on concerns that the U.S.-led war to oust Saddam Hussein would not be easy. A protracted war could hit consumer sentiment in the United States, Japan's biggest export market.

Leading auto maker Toyota Motor Corp down 1.71 percent at 2,880 yen. Office equipment giant Canon Inc down 2.22 percent at 4,410 yen. 0016 GMT ($1=120.72 yen)



Follow Us

Sponsored Introduction Continue on to (or wait seconds) ×