Advantest, Honda, Pasona, TonenGeneral: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading on July 28. 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.

Advantest Corp. (6857) : The world's biggest maker of memory-chip testers posted a first-quarter loss of 152 million yen ($1.4 million) after semiconductor makers scaled back investment in factories amid an oversupply. The company earned 9.95 billion yen a year earlier. Sales dropped 54 percent to 26.5 billion yen. Advantest slipped 90 yen, or 3.8 percent, to 2,310.

Daido Steel Co. (5471) : The specialty steel maker said first-quarter net income declined 49 percent to 1.79 billion yen, dragged down by increased prices of steel scrap and other raw materials. The stock slid 15 yen, or 2.8 percent, to 515.

H2O Retailing Corp. (8242) : The railway department store operator cut its first-half net income estimate 8.1 percent to 3.4 billion yen, on lower-than-expected sales. The stock declined 13 yen, or 1.8 percent, to 729.

Hitachi High-Technologies Corp. (8036) : The trading company that handles computers and peripherals cut its full-year net income forecast 18 percent to 22 billion yen and its sales forecast 3.3 percent to 880 billion yen, citing a change in accounting methods. The stock slumped 125 yen, or 5.2 percent, to 2,270.

Honda Motor Co. (7267) : Japan's second-largest carmaker posted an unexpected 8.1 percent gain in fiscal first-quarter net income to 179.6 billion yen as it cut incentive spending in the U.S. and earned more from affiliates. The result was better than the 120.5 billion yen median estimate by six analysts compiled by Bloomberg. Honda lost 80 yen, or 2.1 percent, to 3,760.

Idea International Co. (3140 JX): The designer of interior products and consumer electronics will start trading on the Osaka Securities Exchange's Hercules market. The initial offering price was set at 2,750 yen.

Kagome Co. (2811) : The ketchup and sauce maker cut its full-year net income forecast 30 percent to 2.8 billion yen, citing slowing demand for its vegetable juices and higher ingredients costs. Kagome sagged 48 yen, or 3 percent, to 1,552.

Kobayashi Yoko Co. (8742) : The commodity futures trader will buy back as much as 5.12 percent of its outstanding shares. The stock added 5 yen, or 1.8 percent, to 277.

Miyazaki Bank Ltd. (8393) : The regional bank cut its full-year net income outlook 84 percent to 800 million yen, citing additional reserves for bad loans due to an increase in bankrupt accounts. The stock lost 10 yen, or 2.2 percent, to 445.

Nippon Carbon Co. (5302) : The maker of artificial graphite electrodes lifted its full-year net income forecast 17 percent to 3.4 billion yen, citing output efficiency and cost cuts. The stock rose 7 yen, or 1.2 percent, to 591.

Nippon Electric Glass Co. (5214) : The world's third-biggest supplier of glass for liquid-crystal displays said first-quarter net income climbed 82 percent to 18.9 billion yen, with a 26 percent advance in sales. The stock lost 38 yen, or 2.2 percent, to 1,659.

Nomura Research Institute Ltd. (4307) : The information-technology provider said first-quarter net income fell 25 percent to 6.05 billion yen, citing increased depreciation expense and a smaller one-time gain. The stock added 5 yen, or 0.2 percent, to 2,540.

Pasona Group Inc. (2168) : The temporary staffing company said it will buy back as much as 11.99 percent of its outstanding shares through Oct. 31. The company separately said it will retire 17,500 shares, or 4.03 percent of its total, on Aug. 29. The stock fell 400 yen, or 0.7 percent, to 61,600.

Ricoh Co. (7752) : Japan's second-biggest office equipment maker said first-quarter net income fell 24 percent to 25.7 billion yen, with a 1.6 percent slip in sales. Ricoh fell 46 yen, or 2.6 percent, to 1,710.

Shibaura Mechatronics Co. (6590) : The machinery maker slashed its full-year net income forecast 76 percent to 600 million yen and its sales forecast 13 percent to 72 billion yen. The stock plunged 47 yen, or 8.6 percent, to 502.

Showa Shell Sekiyu K.K. (5002) : The Japanese unit of Royal Dutch Shell Plc said in a preliminary earnings statement first-half net income unexpectedly rose to 39 billion yen, almost double its outlook, due to a greater-than-expected gain in the value of inventory assets as oil prices surged. It had forecast 20 billion yen in profit and earned 20.9 billion yen a year ago. The stock rose 15 yen, or 1.3 percent, to 1,177.

Toa Oil Co. (5008) : The consignment-based oil refiner's first-quarter current profit, or pretax profit from operations, amounted to 250 million yen, short of its forecast by 49 percent, as its contract with Tokyo Electric Power Co. (9501) failed to factor in higher fuel costs. Net income in the quarter totaled 280 million yen, beating the company's 230 million yen forecast, after it reviewed closure costs for oil facilities last fiscal year, according to a preliminary earnings statement. Toa Oil was unchanged at 145 yen.

Tokyo Steel Manufacturing Co. (5423) : Japan's biggest maker of steel girders posted a 94 percent drop in net income to 328 million yen and lowered its forecast for annual earnings as raw material costs rose faster than product prices. The stock tumbled 59 yen, or 4.5 percent, to 1,245.

TonenGeneral Sekiyu K.K. (5012) : The unit of Exxon Mobil Corp. (XOM US) said in a preliminary earnings that first-half net income fell to 5.9 billion yen, below its 16 billion yen profit forecast, because of lower margins for processing crude into fuels. The company earned 17.1 billion yen a year earlier, the refiner said. The stock rose 12 yen, or 1.4 percent, to 885.

Yahoo Japan Corp. (4689) : The operator of Japan's most visited Internet portal said first-quarter net income rose to 19.2 billion yen from 16.2 billion yen a year earlier on a 16 percent gain in sales. Also, the company will retire 2.01 percent of its total shares on Aug. 8. The stock dropped 1,250 yen, or 3 percent, to 40,000.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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