Disco Corp. , Japan’s biggest maker of cutting tools for electronic equipment, fell the most in two years after cutting its full-year net forecast by 25 percent on sluggish investment in the semiconductor market.
Pioneer Corp., a Japan-based maker of car-navigation systems, fell the most in a month, leading declines among manufacturers including Nikon Corp. after plants in Thailand were shut because of flooding.
Nikon Corp. , a Japanese maker of cameras, lenses and scanners, gained the most in more than two years in Tokyo trading after profit beat analysts’ estimates and it forecast rising demand for chip-making equipment.
Canon Inc., the world’s largest camera maker, plunged the most in more than three years in Tokyo after cutting its full-year profit forecast because of a stronger yen and expectations for weaker global growth.
Asian stocks rose, driving the MSCI Asia Pacific Index to the highest level in more than 10 weeks, as a surge in earnings at Canon Inc. and China’s industrial companies boosted confidence in the region’s corporate profits.