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Aeon, Ibiden, Marubeni, Nippon Sheet: Japan Equity Preview

By Akiko Ikeda and Norie Kuboyama

April 13 (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.

Aeon Co. (8267 JT): Japan’s largest supermarket operator will probably report a net loss of about 3 billion yen ($30 million) for the year ended Feb. 28, the first loss in seven years, the Nikkei newspaper reported. The stock rose 3 percent to 755 yen.

Bank of Kyoto Ltd. (8369 JT): The regional bank said it will book a charge of 20.9 billion yen ($208 million) on devalued securities for the year ended March 31. The stock declined 1.2 percent to 827 yen.

Chiyoda Co. (8185 JT): The store chain operator forecast its full-year net income will more than double to 866 million yen. The company posted an 85 percent plunge in profit to 400 million yen in the year ended Feb. 28, falling short of its 830 million yen forecast, because of sluggish sales of clothes and shoes, depreciation charges and writedowns on securities. The stock added 0.2 percent to 1,321 yen.

Daikin Industries Ltd. (6367 JT): The maker of air conditioners said it discovered improper accounting practices that will have a cumulative impact of 3.3 billion yen on its earnings. Daikin found it inappropriately booked revenue for work in progress from the fiscal years 1999 to 2008, according to a statement. Daikin slid 0.7 percent to 2,875 yen.

Daiwa House Industry Co. (1925 JT): The property developer said it will book a 31.5 billion yen pension charge. The stock rose 1.8 percent to 890 yen.

Dowa Holdings Co. (5714 JT): The metal producer’s full-year net loss totaled 25 billion yen, wider than its forecast of an 18 billion yen loss, it said in a preliminary earnings statement. The company cited investment losses and currency-exchange charges for the result. Dowa earned 24.5 billion yen a year ago. The stock fell 1.5 percent to 409 yen.

Funai Electric Co. (6839 JT): The company won its bid to block U.S. imports of high-definition televisions by Vizio Inc. (3100761Z US) after a federal trade agency said the TVs infringed Funai’s patent. The U.S. International Trade Commission issued the order on April 10 after reviewing the case won by Funai before an administrative law judge. If Vizio wants to continue to import the TVs while the ban is reviewed by President Barack Obama, it must post a bond of $2.50 for each television, the agency said.

Gree Inc. (3632 JT): The operator of a social-networking service raised its full-year net income outlook 11 percent to 3.87 billion yen and its sales forecast 14 percent to 12.8 billion yen, citing growth in the number of subscribers, income per subscriber and advertising revenue. The stock was unchanged at 5,760 yen.

Hakuhodo DY Holdings Inc. (2433 JT): Japan’s second-biggest advertising company said sales at Hakuhodo Inc. (HKHDZ JP) on a parent basis dropped 16 percent in March. The stock slid 0.4 percent to 4,490 yen.

Hokuto Corp. (1379 JT): The mushroom cultivator said its March sales totaled 3.11 billion yen on a parent basis, higher than its projection of 2.64 billion yen. The stock slid 0.2 percent to 1,732 yen.

Ibiden Co. (4062 JT): The maker of ceramics and building materials said in a preliminary earnings statement its full-year net loss totaled 8.3 billion yen, wider than its 5 billion yen loss forecast, due to additional charges related to deferred tax assets. Ibiden also said operating profit for the year ended March 31 amounted to 10.4 billion yen, beating its projection by 30 percent, citing the yen weaker. Ibiden slipped 1.2 percent to 2,490 yen.

Itochu Corp. (8001 JT): The trading company said it completed a tender offer for i-Logistics Corp. (9321 JT). Itochu paid 270 yen for each share of i-Logistics to increase its stake in the operator of warehouses and harbor transportation to 94.91 percent. Itochu gained 2.6 percent to 544 yen. i-Logistics added 0.4 percent to 260 yen.

Japan Airlines Corp. (9205 JT) and All Nippon Airways Co. (9202 JT): The country’s two largest carriers won government approval for loans from state-owned banks after the companies suffered the biggest decline in passengers in five years. Transport Minister Kazuyoshi Kaneko, speaking to journalists in Tokyo on April 10, didn’t give the amount the carriers and other domestic airlines will be allowed to borrow.

Japan Wool Textile Co. (3201 JT): The textile maker had 667 million yen in net loss for the three months ended Feb. 28, compared with profit of 693 million yen a year ago. The company said weak demand and a drop in prices hurt earnings. Separately, Japan Wool said it will stop operations at subsidiary Fukushima Sewing KK (FKSWGZ JP) in May, because of an absence of synergy. The stock fell 2.8 percent to 586 yen.

Kawasaki Heavy Industries Ltd. (7012 JT): Japan’s second- largest maker of heavy machinery will probably report a 64 percent drop in its pretax-profits for the current fiscal year ending March 2010 because of slumping sales of motorcycles in U.S. and Europe, the Nikkei newspaper reported. The stock fell 1.9 percent to 207 yen.

Marubeni Corp. (8002 JT): Japan’s largest wheat importer has signed an agreement with China Grain Reserves Corp. to supply the state-controlled company with grain products and soybeans, a spokesman for the Tokyo-based company said. The Nikkei newspaper earlier reported details of the accord. Shares in Marubeni climbed 2.8 percent to 368 yen.

Mazda Motor Corp. (7261 JT): Japan’s second-largest car exporter will cease its auto finance tie-up with Ford Motor Co. as early as this month, the Nikkei English News reported. Mazda will use local financial institutions in overseas markets as it ends ties with Ford’s Ford Motor Credit unit in France, Spain, Belgium and Ireland. The stock rose 3.2 percent to 256 yen.

Mitsui Engineering & Shipbuilding Co. (7003 JT): Japan’s largest maker of ship engines said its net income for the year ended March 31 amounted to 10.5 billion yen, lower than its 11.5 billion yen projection, according to a preliminary earnings statement. The company said the stronger yen and charges from devalued stockholdings diminished earnings. The stock slid 0.5 percent to 186 yen.

Nachi-Fujikoshi Corp. (6474 JT): The industrial bearing maker had a 1.56 billion yen net loss in the three months ended Feb. 28 on a 40 percent decline in sales. The loss compares with a profit of 2.41 billion yen a year earlier. The company said cost cuts failed to offset slumping demand and writedowns on securities. The stock advanced 4.7 percent to 200 yen.

Nippon Sheet Glass Co. (5202 JT): The company may cut more jobs at U.K. glassmaker Pilkington amid declining demand from clients in the automotive and construction industries, the Sunday Telegraph reported. Nippon Sheet Glass has already slashed 300 jobs in the U.K. this year and is considering cutting an additional number of jobs in the “low hundreds,” the newspaper said. Nippon Sheet Glass, Asia’s second-largest glassmaker, bought Pilkington in 2006.

Sakata Seed Corp. (1377 JT): The seed wholesaler’s net loss amounted to 927 million yen in the nine months ended Feb. 28, compared with a profit of 192 million yen a year earlier. The company said currency-exchange losses and devaluation of securities hurt earnings. The stock dropped 0.3 percent to 1,309 yen.

Softbank Corp. (9984 JT): Japan’s third-largest mobile- phone company said it had operating profit of about 350 billion yen for the year ended March 31 because of cost cutting. Softbank had forecast 340 billion yen in operating profit, or sales minus cost of goods sold and administrative expenses, the company said in a statement. Softbank fell 1.7 percent to 1,522 yen.

Sony Financial Holdings Inc. (8729 JT): The financial holding company said it registered to sell 40 billion yen in bonds to invest in its subsidiaries including Sony Bank Inc. (SNBZ JP). The stock jumped 8 percent to 309,000 yen.

Sumitomo Osaka Cement Co. (5232 JT): The cement maker’s full-year profit fell to breakeven from 5.07 billion yen a year ago, because of a decline in domestic demand for cement and losses from devalued stockholdings, it said in a preliminary earnings statement. The company had earlier projected a profit of 1.9 billion yen. The stock dropped 2.1 percent to 238 yen.

Takashimaya Co. (8233 JT): The department store operator said it expects full-year net income to decline 36 percent to 7.5 billion yen with an 8.2 percent drop in sales. The company posted a 37 percent decline in profit to 11.8 billion yen in the year ended Feb. 28, dragged down by sluggish sales of high-end products and clothes, as well as currency-exchange losses. The stock fell 2.1 percent to 644 yen.

Teijin Ltd. (3401 JT): The textile maker will double production of resins made from plants at its Minnesota-based joint venture with Cargill Inc., a U.S. grain producer, the Nikkei newspaper said. The stocks rose 0.1 percent to 245 yen.

Tokyo Electron Ltd. (8035 JT): The world’s second-largest maker of semiconductor equipment said fiscal fourth-quarter orders fell 31 percent on slumping demand for chip gear. Orders for machines that make chips and flat-panel displays fell to 26 billion yen in the quarter ended March 31, compared with 37.9 billion yen in the preceding three-month period, the company said on its Web site today. It booked 159.3 billion yen of orders a year earlier. The stock added 1.7 percent to 4,230 yen.

Tokyo Style Co. (8112 JT): The apparel maker turned to a net loss of 9.4 billion yen in the year ended Feb. 28 from a profit of 2.1 billion yen a year earlier, according to a preliminary earnings statement. The company cited writedowns on securities and losses from withdrawing from an employee pension fund for the loss. The company had earlier forecast a 4.1 billion yen profit. The stock fell 1.4 percent to 712 yen.

Toyota Motor Corp. (7203 JT): The world’s largest carmaker may post an operating loss of more than 500 billion yen in the fiscal year ending March 31, 2010, the Nikkei newspaper reported without saying where it obtained the information. Toyota’s operating loss for the fiscal year just ended may have expanded to about 500 billion yen from a company forecast of 450 billion yen, Nikkei said. The stock was unchanged at 3,910 yen.

Usen Corp. (4842 JX): The cable broadcaster and Internet service provider posted 77 million yen in net income for the six months ended Feb. 28, recovering from a net loss of 10.5 billion yen a year ago. The company had projected it would break even. Usen said bigger-than-expected sales from media content and recruitment businesses along with cost cuts contributed to earnings. The stock slumped 10 percent to 129 yen.

To contact the reporters on this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net; To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net.

Last Updated: April 12, 2009 19:11 EDT

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