Japan Hot Stocks-Steelmakers, Yoshinoya, Elpida

TOKYO, Jan 18 (Reuters) - The benchmark Nikkei average rose 0.1 percent and the broader TOPIX was 0.3 percent higher on Tuesday. The following stocks were on the move: **NIPPON STEEL, JFE DOWN ON OUTLOOK REPORT** Shares of Nippon Steel and JFE Holdings fell after the Nikkei business daily said the steelmakers' profits are likely to undershoot their forecasts for the year ending in March, due to rises in iron ore and coal prices. Nippon Steel lost 1.7 percent to 292 yen and JFE fell 1.7 percent to 2,779 yen. The Nikkei said Nippon Steel's recurring profit is expected to be around 220 billion yen for the current financial year, about 30 billion yen lower than its forecast, while JFE's recurring profit may total around 200 billion yen, missing its forecast by 20 billion yen. 0125 GMT **YOSHINOYA JUMPS ON STAKE BUYBACK FROM ITOCHU** Shares in Yoshinoya Holdings Co jumped 3.3 percent to 109,400 yen after the fast food restaurant operator said it plans to become the largest holder of its own shares by buying back the 21 percent stake owned by trading house Itochu Corp for around 14 billion yen ($169.4 million). The move will beef up Yoshinoya's holding to 25.7 percent from 4.7 percent, it said in a statement. Itochu's shares were 0.6 percent higher at 911 yen. 0028 GMT **ELPIDA MEMORY RISES ON DRAM PRICE HIKE PLAN REPORT** Shares of Elpida rose 2.9 percent to 1,116 yen after the Nikkei business daily reported it plans to raise prices of personal computer DRAMs by about 10 percent as early as this month. DRAMS are selling for about one-third of what they did a year ago, it said. Elpida, which is looking for an earnings turnaround, reckons that conditions are right for a price hike, the daily said, adding that of all types of DRAMs, the PC variety is said to have fallen the most in price. 0012 GMT (For IPO news, data and diary, click, for stocks click) (Reporting by James Topham; Editing by Edwina Gibbs) ((james.topham@thomsonreuters.com; +813 6441 1858; Reuters Messaging: james.topham.thomsonreuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)) 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 2011. All rights reserved.

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