Japan: Kirin Brewery’s stock estate after Nikko Citigroup rating
The stock of Kirin Brewery, Japan's second-largest beer brewer, increased by 10.7 % to 1,244 yen after Nikko Citigroup raised its rating on the company to "Buy/Low Risk" from "Sell/Low Risk" and its target price to 1,480 yen from 940 yen, Reuters announced on September 20.
Nikko Citigroup said in a report on Friday that "an ideal investment entry point" had arrived, with Kirin's Nodogoshi, a no-malt beer, likely to be a major hit and secondary hyperparathyroidism treatment KRN 1493 expected to be a breakthrough drug. Oil and gas explorer Inpex Corp. rises 2.4 % to 856,000 yen, rising together with other resource-related stocks after a jump in crude oil futures prices to above $67 per barrel during a three-day holiday in Japan.
Trading firm Mitsubishi Corp. rises 1.2 % to 1,993 yen. Oil company AOC Holdings Inc. rises 3.5 % to 2,210 yen, reversing a 1.2 % fall the previous session due to an announcement of new share issues for a new stakeholder, Showa Shell Sekiyu K.K.
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