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Monday July 2, 12:57 PM Japan Hot Stocks-Sapporo, Chugai, Cosmo, Nintendo, Property TOKYO, July 2 (Reuters) - The following stocks are on the move on Monday: **SAPPORO FALLS ON LEHMAN'S UNDERWEIGHT RATING** Shares of Sapporo Holdings fall 5.9 percent to 737 yen after Lehman Brothers launched coverage of Japan's third-biggest beer maker on Friday with an "underweight" rating and 12-month share target of 624 yen. Analyst Yoshihito Oshima said in his report Sapporo may struggle to compete against its two bigger rivals Asahi Breweries and Kirin Holdings as the market shrinks further. Sapporo is also under a takeover threat from activist fund Steel Partners. 0450 GMT **CHUGAI DROPS AFTER UBS CUTS RATING, TARGET PRICE** Chugai Pharmaceutical Co. Ltd. slides 2.9 percent to 2,150 yen after UBS Securities cut its rating on the Japanese partner of Swiss drug maker Roche Holding to "reduce 2" from "neutral 2", citing probably weaker sales of its mainstay anaemia dug Epogin. Epogin will likely lose significant market share due to the launch of rival drug Nesp from Kirin Holdings Co. Ltd. , which UBS analyst Hirohisa Shimura said was a cheaper and more convenient alternative. Shimamura also cut Chugai's target price to 1,850 yen from 3,000. Kirin's shares are flat at 1,843 yen. 0423 GMT **COSMO OIL DOWN AFTER MIZUHO CUTS RATING TO 3** Shares of Cosmo Oil Co. drop 5 percent to 646 yen after Mizuho Securities cut its rating on the stock to "3" from "2" on Friday. Shares in the refiner have gained about 38 percent this year putting them in fair value range, and any undervaluation has dissipated, analyst Hidetoshi Shioda said in a report distributed to clients. 0357 GMT **NINTENDO RISES AFTER WII OUTSELLS SONY'S PS3** Shares on Nintendo Co. rose 0.6 percent to 45,350 yen after a survey showed its Wii game console outsold Sony Corp.'s PlayStation by a ratio of 6 to 1 in June in Japan, according to game magazine publisher Enterbrain. The stock also rose after Macquarie Research raised its 12-month price target on Nintendo to 56,600 yen from 50,000 yen on Monday, citing a weaker yen and strong sales of Wii and DS portable game machine. The brokerage kept its "underperform" rating on the shares. 0331 GMT **PROPERTY FIRMS DOWN AS TANKAN SHOWS SOFTER OUTLOOK ON SECTOR** Stocks of real estate firms such as Mitsubishi Estate and NTT Urban Development Corp. fell after the Bank of Japan's tankan survey showed on Monday the property sector has become less optimistic about its outlook for the next three months. The real estate index fell 0.9 percent to 2,113.25. "The tankan numbers show that the sector may be peaking out," with the diffusion index of property companies unchanged at 53 points in June from March, and the outlook to September trimming to 44, said Credit Suisse analyst Yoji Otani. "The momentum on the stocks has come to a halt, and the market is adjusting some of the overvalued ones." Mitsubishi Estate ended the morning down 1.8 percent at 3,290 yen, while NTT Urban lost 2.5 percent to 233,000 yen. 0200 GMT **NIPPON SHEET GLASS EXTENDS GAINS ON PILKINGTON SALE** Nippon Sheet Glass Co. Ltd. up 3.4 percent to 582 yen after it said on Friday it would sell Pilkington Australasia for A$690 million to Australian sugar and construction products maker CSR Ltd. , to focus on its core business amid a global sugar supply glut. Some analysts said the acquisition, which prompted Standard & Poor's to put CSR's debt on credit watch, was overpriced. [ID:nSYD215672] 0056 GMT **TAKASHIMAYA , MITSUKOSHI DOWN ON POOR Q1** Shares of Takashimaya Co., Japan's biggest department store chain, falls 3.5 percent to 1,502 yen after the retailer posted a 12 percent drop in operating income for the first quarter on Friday due to weak sales of clothes and other fashion items. Smaller rival Mitsukoshi Ltd. also fell 2.9 percent to 599 yen after its quarterly operating profit fell 62 percent. 0053 GMT **BROTHER RISES ON REPORT IT PLANS TO BOOST R&D** Brother Industries, an office equipment maker, rises 1.4 percent to 1,837 yen after the Nikkei business daily reported on Saturday that the company plans to invest up to 130 billion yen over the next three years on research and development. The company aims to boost its competitiveness and return profits to shareholders over the long term, instead of responding to a request by U.S. activist fund Steel Partners to raise its dividend, the paper reported. 0055 GMT **ISUZU UP ON REPORT OF DIESEL EMISSIONS TIE-UP** Isuzu Motors Ltd. jumps 2.4 percent to 684 yen on a report the truck maker plans to work with Hino Motors Ltd. to develop technology for cleaning up diesel engine emissions. Hino shares are up 0.4 percent at 740 yen. The two truck makers plan to develop equipment such as filters that reduce harmful emissions, and cut costs by supplying parts to one another, the Nikkei business daily said on Saturday. 0022 GMT **LION UP ON HIGHER FORECAST, DEAL WITH BRISTOL-MYERS** Shares of Lion up 3.1 percent at 690 yen after the maker of household goods said on Friday it would buy the trademark rights for the painkiller "Bufferin" and other brands in Japan and elsewhere in Asia and Oceania from Bristol-Myers Squibb for 30.4 billion yen. [ID:nT347534] Lion also raised its group net profit forecast for the first half to ended in June by 80 percent to 1.8 billion yen ($14.6 million) due to strong sales overseas and a weaker yen. (For IPO news, data and diary, click)