Advantest, Chiyoda, DoCoMo, Resona, Ricoh: Japan Equity Preview

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.

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.

Chiyoda Corp. (6366) : The plant engineering company and Saipem SpA (SPM)'s engineering unit Snamprogetti SpA won a 277 billion dinar ($4.5 billion) contract to build a liquefied natural gas plant in Algeria, replacing Petrofac Ltd. (PFC) The plant will produce 4.7 million tons of LNG a year within 48 months, and construction will start ``right away,'' Abdelhafid Feghouli, vice president at state-owned oil company Sonatrach, s. Chiyoda fell 34 yen, or 2.9 percent, to 1,129.

Daido Steel Co. (5471) : The maker of specialty steel 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.

Fujitsu Ltd. (6702) : Japan's biggest computer-services provider and Toshiba Corp. (6502) will start mass-producing hard disks in 2009 with twice the capacity of current drives, the Nikkei newspaper reported. Shares in Fujitsu dropped 19 yen, or 2.4 percent, to 782; Toshiba slid 21 yen, or 2.8 percent, to 744.

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.

Itoham Foods Inc. (2284) and Nippon Meat Packers Inc. (2282 JT: The meat products processor will produce store-brand sausages for retailer Seven & I Holdings Co. (3382) , the Nikkei newspaper said. Itoham added 3 yen, or 0.6 percent, to 548. Seven & I lost 110 yen, or 3.4 percent, to 3,130.

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.

Kobe Steel Ltd. (5406) and Sanyo Special Steel Co. (5481) : Kobe Steel may introduce a new pricing framework for sales to auto-part suppliers under which a surcharge can be added to reflect higher raw material costs, the Nikkei newspaper reported. Sanyo Special Steel is separately considering linking product prices to the cost of scrap iron, the Nikkei said. Kobe Steel slumped 9 yen, or 3 percent, to 295. Sanyo Special fell 12 yen, or 2.3 percent, to 506.

Mitsubishi Electric Corp. (6503) : Japan's third-largest maker of home air conditioners will raise prices of the units 10 percent this year to pass on higher steel and other raw materials costs, the Nikkei newspaper said. Matsushita Electric Industrial Co. (6752) and Daikin Industries Ltd. (6367) may also boost prices. Mitsubishi Electric fell 34 yen, or 3.1 percent, to 1,066. Matsushita dropped 60 yen, or 2.6 percent, to 2,215. Daikin lost 150 yen, or 3 percent, to 4,940.

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.

NGK Insulators Ltd. (5333) : The maker of electrical insulators will cut domestic production of emission filters for diesel engines by as much as 50 percent as sales of large vehicles are falling in North America, the Nikkei newspaper reported. The stock sank 76 yen, or 3.9 percent, to 1,882.

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.

Nippon Meat Packers Inc. (2282) : The meat processor will begin fish farming to counter a worldwide shortage of marine produce, the Nikkei newspaper reported. The stock added 14 yen, or 0.9 percent, to 1,618.

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.

NTT DoCoMo Inc. (9437) : The nation's largest mobile-phone operator may report more than 250 billion yen in operating profit for the three months to June 30, compared with 203.8 billion yen a year earlier, the Nikkei newspaper reported. An installment payment plan for handsets helped DoCoMo reduce the costs to subsidize phones, the newspaper said. The stock lost 1,700 yen, or 1 percent, to 162,800.

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.

Yokohama Rubber Co. (5101) : Japan's second-biggest tiremaker will start production in Russia and Brazil in expectation vehicle sales will continue rising, the Nikkei newspaper reported on July 27. The stock dived 14 yen, or 2.6 percent, to 519 yen.

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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