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AOC, Casio, Kubota, Resona, Takeda: Japanese Equity Preview

By Norie Kuboyama

Nov. 10 (Bloomberg) -- The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are from the previous close. The information in each item was released after markets shut, unless stated otherwise.

AOC Holdings Inc. (5017 JT): The oil and natural gas explorer said it expects full-year net income of 6 billion yen ($61.6 million), missing its forecast by 63 percent. The company cut its sales outlook 12 percent to 1.116 trillion yen. AOC tumbled 48 yen, or 8.3 percent, to 529.

Aoki Holdings Inc. (8214 JT): The retailer of men's suits said it will buy back as much as 6.45 percent of its outstanding shares for up to 4.5 billion yen. The company roughly halved its full-year net income forecast to 3 billion yen from 6.1 billion yen, Aoki said in a separate release. The stock declined 84 yen, or 8 percent, to 966.

Autobacs Seven Co. (9832 JO): The car-products retailer said it expects full-year net income of 500 million yen, 92 percent short of its forecast, citing lower sales and higher costs. The stock advanced 60 yen, or 2.6 percent, to 2,385.

Casio Computer Co. (6952 JT): The maker of mobile phones cut its full-year profit and sales forecasts as the stronger yen eroded the value of its exports. The company lowered its net income projection 41 percent to 13.5 billion yen for the year ending March 30. The stock plummeted 70 yen, or 10 percent, to 623.

Credit Saison Co. (8253 JT): The consumer credit company said first-half net income gained 28 percent to 15.6 billion yen, buoyed by smaller one-time charges. Operating profit in the six months ended Sept. 30 fell 5.3 percent to 30.4 billion yen, with a 3.5 percent drop in revenue. The company lifted its full-year net income outlook 6.3 percent to 25.5 billion yen. The stock slid 34 yen, or 3.1 percent, to 1,058.

Daiichi Sankyo Co. (4568 JT): Japan's third-biggest drugmaker completed the acquisition of 268.7 million shares of India's Ranbaxy Laboratories Ltd., giving the company a 63.9 percent stake, Daiichi Sankyo said in a statement. The stock fell 38 yen, or 2.1 percent, to 1,797.

Daikyo Inc. (8840 JT): The homebuilder had a first-half net loss of 44 billion yen, compared with 9.88 billion yen in profit a year earlier, with a 33 percent plunge in revenue. Daikyo said it will cut 450 jobs, aiming to produce 4 billion yen in annual savings from the next fiscal year. The company separately said it will sell 10 billion yen in preferred shares to Orix Corp. (8591 JT). Daikyo slid 3 yen, or 3.3 percent, to 87.

Fujiya Co. (2211 JT) and Yamazaki Baking Co. (2212 JT): Yamazaki Baking, Japan's largest producer of bread and cakes, will raise its stake in confectioner Fujiya to 51 percent and turn the company into a subsidiary. Yamazaki will pay 7.87 billion yen to raise its stake from its current 35 percent, the companies said. Fujiya surged 27 yen, or 22 percent, to 151. Yamazaki fell 18 yen, or 1.4 percent, to 1,313.

Kinden Corp. (1944 JO): The electrical and environmental engineering company said first-half net income rose to 4.03 billion yen from 3.4 billion yen a year earlier. Kinden slipped 9 yen, or 1.1 percent, to 849.

Kubota Corp. (6326 JT): Japan's largest maker of agricultural equipment said first-half net income declined 17 percent to 35.7 billion yen on falling sales from North America and higher costs. Kubota declined 21 yen, or 4.3 percent, to 468.

Marui Group Co. (8252 JT): The department store chain and consumer lender said in a preliminary earnings statement first- half net income unexpectedly rose to 1.4 billion yen, citing better-than-expected results from its credit-card operations, cost cuts and gains from the sale of stockholdings. The company had forecast 500 million yen in profit and earned 815 million yen a year earlier. The stock added 9 yen, or 1.5 percent, to 595.

Mitsubishi Gas Chemical Co. (4182 JT): The chemical products maker cut its full-year net income outlook 19 percent to 25 billion yen, on lower-than-expected sales. The company also said it will spend as much as 5 billion yen to buy back up to 2.07 percent of its total shares through Dec. 15. The stock sagged 21 yen, or 5.3 percent, to 377.

Nippon Telegraph & Telephone Corp. (9432 JT): Japan's largest fixed-line phone operator raised its full-year net income forecast by 12 percent to 560 billion yen. NTT gained 12,000 yen, or 2.8 percent, to 444,000.

Orix Corp. (8591 JT): Japan's biggest non-bank financial company said first-half net income declined 40 percent to 55.3 billion yen, citing increased operating costs and lower earnings from affiliates. Orix rose 180 yen, or 1.8 percent, to 10,480.

Panasonic Corp. (6752 JT) and Sanyo Electric Co. (6764 JT): Panasonic, the world's largest consumer electronics maker, gained Sanyo Electric's endorsement to take control of the company, clearing the way for negotiations with creditor banks. The companies will discuss a capital and business alliance with the goal of making Sanyo a subsidiary of Panasonic, they said in a statement. Panasonic slipped 61 yen, or 3.8 percent, to 1,528. Sanyo fell 1 yen, or 0.5 percent, to 203.

Rakuten Inc. (4755 JQ): The online shopping site operator said nine-month net income plunged 69 percent to 13.5 billion yen, reflecting the absence of a one-time gain a year earlier from the sale of stakes in affiliates. Operating profit in the period ended Sept. 30 jumped 56 percent to 30.8 billion yen, with a 22 percent advance in sales. Rakuten rose 100 yen, or 0.2 percent, to 55,100.

Resona Holdings Inc. (8308 JT): Japan's fourth-biggest bank said it will merge its Resona Bank Ltd. and Resona Trust & Banking Co. units in April. The stock dropped 2,400 yen, or 2 percent, to 118,500.

Sekisui House Ltd. (1928 JT): Japan's largest house builder will slash spending on lots for homes as the nation's housing market deteriorates, Nikkei English News said. Daiwa House, the second biggest, halted purchases of plots for condominiums, the newspaper said. Sekisui lost 60 yen, or 6.7 percent, to 830. Daiwa dropped 31 yen, or 3.9 percent, to 763 yen.

Sumitomo Rubber Industries Inc. (5110 JT): Japan's second- largest tiremaker halved its full-year net income outlook to 6.5 billion yen, citing higher raw material costs, losses from the stronger yen and lower earnings from its ventures with Goodyear Tire & Rubber Co. (GT US). Sumitomo Rubber declined 47 yen, or 5.9 percent, to 750.

Takeda Pharmaceutical Co. (4502 JT): Japan's largest drugmaker won a U.S. appeals court ruling that prevents Teva Pharmaceutical Industries Ltd. (TEVA IT) from selling a generic version of the heartburn drug Prevacid until next year. Takeda lost 140 yen, or 2.9 percent, to 4,670.

Tokyu Land Corp. (8815 JT): The property developer slashed its full-year net income forecast 63 percent to 11 billion yen, citing lower-than-expected earnings from units. The stock added 1 yen, or 0.4 percent, to 283.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.

Last Updated: November 9, 2008 17:54 EST

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