Daiei, Elpida, Furuno Lawson, Namco Bandai, Toyota: 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.
Shipping Lines: Nippon Yusen K.K. (9101 JT) may swing to a pretax profit of about 60 billion yen ($651 million) in the current fiscal year, from a pretax loss of 36 billion yen the previous year, Nikkei English News reported. Kawasaki Kisen Kaisha Ltd. (9107?JT) may post a group pretax profit of more than 20 billion yen if the dollar stays around 90 against the yen, Nikkei said. Nippon Yusen was unchanged at 384 yen. Kawasaki Kisen declined 0.3 percent to 383 yen.
Chemical Companies: Goldman Sachs Group Inc. raised its stock rating on chemical companies Tosoh Corp. (4042 JT), Mitsui Chemicals Inc. (4183 JT) and Asahi Kasei Corp. (3407 JT).
Tosoh was raised to “neutral” from “sell” by Goldman. Its stock fell 2.4 percent to 245 yen. Mitsui Chemicals was boosted to “buy” from “neutral.” The stock declined 1 percent to 289 yen. Asahi Kasei was increased to “buy” from “neutral.” The shares dropped 1.9 percent to 511 yen.
Daiei Inc. (8263 JT): The supermarket chain plans to cut jobs, facilities and other costs to save 22 billion yen in the year ending February 2011 after reporting its first operating loss last fiscal year, Nikkei English News reported. The stock rose 1.1 percent to 482 yen.
East Japan Railway Co. (9020 JT): The rail operator may join Kawasaki Heavy Industries Ltd. (7012 JT) and Sumitomo Corp. (8053 JT) to bid for a contract to supply high-speed trains in California, the Tokyo Shimbun newspaper reported. The stock declined 1.4 percent to 6,500 yen.
Elpida Memory Inc. (6665 JT): Japan’s biggest maker of computer memory plans to spend about $600 million at its Hiroshima plant this fiscal year, President Yukio Sakamoto said. Separately, the company may post about 25 billion yen of operating profit for the year ended March 31, reversing an operating loss a year earlier, Nikkei English News reported. The stock retreated 2.6 percent to 2,093 yen.
Fuji Heavy Industries Ltd. (7270 JT): The automaker, which makes Subaru vehicles, will spend several billion yen by July to increase U.S. production by 40 percent, the Nikkan Koygo newspaper reported, without saying where it obtained the information. The stock declined 1.4 percent to 508 yen.
Furuno Electric Co. (6814 JO): The marine-equipment maker swung to a 3.2 billion yen ($35 million) full-year loss in the 12 months ending Feb. 287, from 1.23 billion yen profit a year earlier. The company forecast a return to profit of 700 million yen for the current fiscal year. The shares rose 1.4 percent to 502 yen.
Gendai Agency Inc. (2411 JQ): The provider of advertising services for pachinko parlors reported full-year net income fell 7 percent to 1.12 billion yen, and forecast 1.3 billion yen profit for the current year. The shares lost 0.3 percent to 91,900 yen.
Hitachi Ltd. (6501 JT): The electronic equipment maker’s operating profit may total more than 160 billion yen, beating its forecast of 135 billion yen, Nikkei English News said, without saying where it got the information. The stock gained 1.6 percent to 379 yen.
JFE Holdings Inc. (5411 JT): The steelmaker may post consolidated pretax profit of 60 billion yen for the fiscal year ended March 31, Nikkei English News said. The stock declined 2.9 percent to 3,540 yen.
Kabuki-za Co. (9661 JT): The company reported a full-year net loss of 962 million yen. Operating profit rose 25 percent on the year to 415 million yen. The shares rose 0.4 percent to 3,590 yen.
Kaga Electronics Co. (8154 JT): The maker of parts for computers and electronics missed its break-even forecast, reporting a loss of 200 million yen, which was narrower than a loss of 806 million yen the previous year. The shares slipped 0.7 percent to 1,014 yen.
KDDI Corp. (9433 JT): Japan’s second-largest mobile-phone operator said full-year net income totaled 212.5 billion yen, 5.6 percent less than forecast. KDDI took a 61 billion yen charge to slim down its fixed-line network, the company said. The stock declined 0.8 percent to 474,000 yen.
Konami Corp. (9766 JT): The game maker’s full-year profit totaled 13 billion yen, 19 percent less than forecast. That compares with 10.8 billion yen net income a year earlier. The shares sank 2 percent to 1,921 yen.
Lawson Inc. (2651 JT): Lawson, which runs convenience stores, and Matsumotokiyoshi Holdings Co. (3088 JT), a drugstore chain, will form a venture next month to sell health-care products. Lawson climbed 0.1 percent to 4,070 yen. Matsumotokiyoshi fell 0.3 percent to 2,127 yen.
Mitsubishi Electric Corp. (6503 JT): The maker of electrical equipment may report an operating profit of about 93 billion yen, 33 billion yen more than projected, Nikkei English News reported, without saying where it got the information. The stock retreated 2 percent to 838 yen.
Namco Bandai Holdings Inc. (7832 JT): The toymaker may post group operating profit of around 10 billion yen for the year ending March 2011, Nikkei English News said, without citing anyone. The stock lost 0.8 percent to 929 yen.
Nipro Corp. (8086 JT): The medical-products maker will spend 4 billion yen to build a facility subcontracting the manufacturing of injectable biopharmaceuticals in 2011, Nikkei English News said. The stock slid 0.2 percent to 1,800 yen.
Takaoka Electric Manufacturing Co. (6621 JT): The maker of chargers for electric cars said full-year net income jumped to 408 million yen from 313 million yen the previous year. The shares declined 1.7 percent to 352 yen.
Takeda Pharmaceutical Co. (4502 JT): Asia’s largest drugmaker said regulators approved its new diabetes treatment, Nesina, for sale in Japan. The stock fell 0.1 percent to 4,135 yen.
Toshiba Corp. (6502 JT): The memory chip maker may exceed its 100 billion yen profit forecast by about 10 percent, Nikkei English News reported, without saying where it got the information. The stock fell 0.4 percent to 511 yen.
Toyota Motor Corp. (7203 JT): The world’s largest carmaker is readying a minivan version of its Prius hybrid that may go on sale early next year, the Nikkei newspaper reported. Separately, Toyota said it will recall about 600,000 Sienna minivans because of corrosion in a cable that holds the spare tire. The stock declined 0.4 percent to 3,695 yen.
Ube Industries Ltd. (4208 JT): The chemical products maker’s group operating profit may have fallen 13 percent to about 27 billion yen in the year ended March, topping its estimate by about 2 billion yen, Nikkei English News reported. The stock fell 2.4 percent to 246 yen.
PanaHome Corp. (1924 JT): The homebuilder said preliminary full-year net income totaled 2.4 billion yen, 20 percent more than expected and down from a 2.94 billion yen profit the previous year. The shares lost 0.6 percent to 621 yen.
To contact the reporter on this story: Anna Kitanaka in Tokyo at email@example.com