TOKYO, Feb 23 (Reuters) - The benchmark Nikkei average fell 0.6 percent and the broader TOPIX was 0.5 percent lower on Tuesday.
The following stocks were on the move:
**SEGA SAMMY CLIMBS AFTER BROKERAGE UPGRADE TO 'NEUTRAL'**
Sega Sammy Holdings rose 2.8 percent to 1,108 yen after Credit Suisse raised its rating on the game maker to 'neutral' from 'underperform' and hiked its target price to 1,160 yen from 900 yen, citing increasing earnings stability from the next business year.
'We believe margin improvement in the mainstay pachinko/pachislo business has increased the probability that the company will achieve earnings growth in the fiscal year ending in March 2011,' analyst Yusaku Otsubo wrote.
0051 GMT
**EXPORTERS FALL AFTER YEN RISES AGAINST DOLLAR**
Sony Corp and other exporters lost ground after the dollar fell as low as 91.11 yen on Monday, though it had pared some of its losses to stand at 91.26 yen on Tuesday.
Investors fret about a stronger yen because it eats into exporters' profits when repatriated.
Sony lost 0.9 percent to 3,170 yen, Honda Motor Co fell 1.9 percent to 3,120 yen and Panasonic Corp fell 1.3 percent to 1,287 yen.
0047 GMT
**JGC CORP UP ON REPORTED CONTRACT BACKLOG, DEMAND**
Plant engineering firm JGC Corp rose 0.9 percent to 1,704 yen after the Nikkei business daily said it would likely have a record 1.02 trillion yen ($11.2 billion) in contract backlogs at the March fiscal year-end thanks to robust demand for developing resources in emerging nations.
0021 GMT
(Reporting by Tokyo newsroom)
((elaine.lies@thomsonreuters.com; +81 3 6441 1807; Reuters Messaging:elaine.lies.reuters.com@reuters.net))
Keywords: MARKETS JAPAN STOCKS HOT (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The following stocks were on the move:
**SEGA SAMMY CLIMBS AFTER BROKERAGE UPGRADE TO 'NEUTRAL'**
Sega Sammy Holdings rose 2.8 percent to 1,108 yen after Credit Suisse raised its rating on the game maker to 'neutral' from 'underperform' and hiked its target price to 1,160 yen from 900 yen, citing increasing earnings stability from the next business year.
'We believe margin improvement in the mainstay pachinko/pachislo business has increased the probability that the company will achieve earnings growth in the fiscal year ending in March 2011,' analyst Yusaku Otsubo wrote.
0051 GMT
**EXPORTERS FALL AFTER YEN RISES AGAINST DOLLAR**
Sony Corp and other exporters lost ground after the dollar fell as low as 91.11 yen on Monday, though it had pared some of its losses to stand at 91.26 yen on Tuesday.
Investors fret about a stronger yen because it eats into exporters' profits when repatriated.
Sony lost 0.9 percent to 3,170 yen, Honda Motor Co fell 1.9 percent to 3,120 yen and Panasonic Corp fell 1.3 percent to 1,287 yen.
0047 GMT
**JGC CORP UP ON REPORTED CONTRACT BACKLOG, DEMAND**
Plant engineering firm JGC Corp rose 0.9 percent to 1,704 yen after the Nikkei business daily said it would likely have a record 1.02 trillion yen ($11.2 billion) in contract backlogs at the March fiscal year-end thanks to robust demand for developing resources in emerging nations.
0021 GMT
(Reporting by Tokyo newsroom)
((elaine.lies@thomsonreuters.com; +81 3 6441 1807; Reuters Messaging:elaine.lies.reuters.com@reuters.net))
Keywords: MARKETS JAPAN STOCKS HOT (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.