Japan Hot Stocks-Yoshinoya, Fujitsu, Sumitomo Chemical, banks

TOKYO, April 7 (BestGrowthStock) – The benchmark Nikkei average
(.N225: ) rose 0.5 percent and the broader TOPIX (.TOPX: ) gained 0.7
percent on Wednesday.

The following stocks were on the move:
**YOSHINOYA (9861.T: ) TUMBLES AFTER WIDENING LOSS ESTIMATE**

Shares of Yoshinoya Holdings Co slid 3.8 percent to 96,400
yen after Japan’s largest beef bowl chain said it would post a
sharply higher loss for the past financial year due to asset
writedowns and sluggish sales.

Yoshinoya said after the close on Tuesday that it now expects
to post a net loss of 8.94 billion yen ($95.30 million) for the
year ended Feb. 28, instead of the previously projected loss of
1.3 billion yen. It cut its sales estimate by 4 percent.
[ID:nT6AW4TICN]

In addition to weak consumption and tough price competition,
Yoshinoya said it was hit by 10.37 billion yen in special losses,
mainly due to writing down the value of restaurants and goodwill
of its steak restaurant chain Don Co.

Yoshinoya shares earlier fell as much as 6.6 percent to a
16-month low of 93,600 yen. Volume jumped to 8,675 shares, more
than 5 times the daily average over the past month.
0423 GMT
**FUJITSU DOWN; EX-PRESIDENT THREATENS SUIT OVER DISMISSAL**

Fujitsu Ltd (6702.T: ) fell 1.3 percent to 617 yen on news that
former president Kuniaki Nozoe will file suit against the IT
services firm unless its auditors take action to resolve his
claim that he was improperly dismissed last year, according to
his lawyer. [ID:nTOE63600N]

Fujitsu confirmed it had received a request from Nozoe that
the company sue some executives. Company spokesman Makoto Koshi
said that its auditors will decide within 60 days how to handle
the complaint.
0340 GMT
**SUMITOMO CHEMICAL (4005.T: ) JUMPS AFTER MUFJ SEC UPGRADE**

Chemical maker Sumitomo Chemical Corp surged 5.7 percent to
481 yen, and was the top percentage gainer among shares in the
benchmark Nikkei 225 index, after Mitsubishi UFJ Securities
upgraded the stock’s rating to “1” from “2” and raised the
six-month to 12-month target price to 700 yen from 400 yen.

Mitsubishi UFJ Securities said in a research note that it
sees upside given Sumitomo Chemical’s medium-term plan, which
targets operating profit of 190 billion yen ($2 billion) in
fiscal 2012/13, although it added that the plan’s targets look
challenging.
0154 GMT
**BANKING SHARES TRACK U.S. PEERS HIGHER**

Shares of major banks rose broadly, tracking gains in their
U.S. peers. Sumitomo Mitsui Financial Group (8316.T: ), Japan’s
third-biggest bank by assets, surged 3.4 percent to 3,235 yen,
while the country’s second-biggest bank, Mizuho Financial Group
(8411.T: ), rose 2.2 percent to 187 yen. Its top bank, Mitsubishi
UFJ Financial Group (8306.T: ), gained 1.8 percent to 499 yen.

Shares of U.S. banks were lifted on Tuesday after Wells Fargo
Securities upgraded large-cap U.S. banks, citing more clarity on
asset-quality trends.

In addition, Japanese banking shares are drawing support from
buying interest among overseas investors, said Hiroaki Kuramochi,
chief equity marketing officer at Tokai Tokyo Securities’ equity
department.

Some overseas investors are looking to shift out of sectors
such as retailers and into major banks and communications,
Kuramochi said.

The banking sub-index (.IBNKS.T: ) touched a six-month high at
one point, and and was the second highest percentage gainer among
sub-indexes with its 2.1 percent rise on the day.
0127 GMT
**SAIZERIYA (7581.T: ) SURGES AFTER RAISING PROFIT FORECAST**

Italian restaurant chain Saizeriya climbed 2.8 percent to
1,747 yen after raising its forecast for operating profit to 13.5
billion yen ($143.9 million) for the year to Aug. 31, 2010, up
from its previous forecast for a 12 billion yen profit.
[ID:nT6A8AHJL4]
0022 GMT
**SHIMANO (7309.OS: ) RISES AFTER ANNOUNCING SHARE BUY-BACK**

Bicycle parts maker Shimano Inc climbed 3.6 percent to 4,340
yen after saying it would buy back up to 4.0 billion yen ($42.64
million) of its own shares, or 1.1 percent of its shares
outstanding, between April 7-26.
0005 GMT

Investment Analysis

(Reporting by Tokyo bureau)

Japan Hot Stocks-Yoshinoya, Fujitsu, Sumitomo Chemical, banks