TOKYO, Oct 1 (Reuters) - The Nikkei average fell 1.1 percent and the broader TOPIX shed 1 percent by Monday afternoon.
The following stocks were on the move:
**POINT RISES ON SHARE BUYBACK PLAN**
Point Inc climbed 4.6 percent to 2,946 yen, hitting a one-month high, after the casual clothing stores operator said it would spend up to 3 billion yen to buy up to 1 million shares, or 4.32 percent of its shares, between Oct. 1 and Nov. 16.
**TAIYO NIPPON SANSO SLUMPS TO 9-YEAR LOW AFTER CUTTING H1 GUIDANCE**
Taiyo Nippon Sanso Corp sank 11.4 percent to 364 yen, its lowest in nine years after it cut its guidance for the first half ending September to a net loss of 7.5 billion yen from a previous forecast of a net profit of 7.6 billion yen.
The revision was due to a 23.3 billion yen in extraordinary loss related to exiting a monosilane joint business with Evonik Degussa Japan.
**SHISEIDO FALLS TO 11-YEAR LOW AFTER MIZUHO DOWNGRADE**
Shiseido Co Ltd sank 4.6 percent to 1,022 yen, hitting its lowest level in 11 years, after Mizuho Securities downgraded the cosmetics manufacturer to 'underperform' from 'neutral' on risk of slowing sales in China.
The brokerage also slashed its price target to 900 yen from 1,090.
"We are revising our outlook for 3Q onward to reflect a downturn in economic trends and a deceleration in sales due to anti-Japanese protests (in China). Moreover, we continue to believe that Shiseido is unlikely to achieve its domestic sales targets," Mizuho said in a note.
"Consequently, we forecast that operating profit will come in below the company's full-year target. We are concerned that a slowing down from continued high-level growth in the company's China operations is likely to trigger a decline in valuations, as this business is a vital factor in supporting Shiseido's valuation as a global entity."
**DAIDO STEEL HITS 30-MONTH LOW AFTER CUTTING H1 GUIDANCE
Daido Steel Co Ltd sagged 6.1 percent to 341 yen, hitting a 30-month low, after the steelmaker lowered its operating profit forecast by 36 percent to 9 billion yen for the six months ending September, citing securities valuation losses and weak shipments of specialty steel items.
Daido Steel has fallen 29.4 percent this year, underperforming a 0.2 percent rise in the Topix. 0249 GMT
**NGK INSULATORS DROPS AFTER CUTTING FORECAST**
NGK Insulators Ltd slid 9.3 percent to 848 yen, a two-month low, after the electric insulator maker cut its operating profit forecast for the year ending March 2013 to 23 billion yen ($296 million) from a previous forecast of 28 billion yen, citing lower sales for its electronic goods than anticipated due to dwindling global demand.
**NIPPON SHOKUBAI SLUMPS AFTER EXPLOSION AT HIMEJI PLANT**
Nippon Shokubai Co Ltd slumped 14.2 percent to 749 yen, hitting a more than 17-month low after Japanese media said two acrylic acid storage tanks and one toluene tank at the company's Himeji plant in western Japan exploded on Saturday afternoon.
Nippon Shokubai is one of the world's biggest makers of acrylic acid, the main ingredient of a resin called SAP, which is used in diapers.
Rivals Sanyo Chemical Industries Ltd and Sumitomo Seika Chemicals Co Ltd , which are likely to benefit from the drop in Nippon Shokubai supply, surged 7.7 percent and 6.1 percent, respectively.
0037 GMT ($1 = 77.8000 Japanese yen)
(Reporting by Dominic Lau and Sophie Knight; Editing by Edmund Klamann and Jijo Jacob)
Keywords: MARKETS JAPAN STOCKS HOT/