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Dwango, Hitachi, Honda, Panasonic, Shikoku Electric, Sony: 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.

Daikyo Inc. (8840 JT): Anabuki Construction Inc. is finalizing a plan to reorganize with the backing of Daikyo and J-Will Partners, Nikkei English News reported, without citing a source for the information. Daikyo rose 1.8 percent to 172 yen.

Dainippon Sumitomo Pharma Co. (4506 JT), JCR Pharmaceuticals Co. (4552 JO): The pharmaceutical companies said they will dissolve their co-marketing contract for “Growject,” a recombinant human growth hormone, and Dainippon Sumitomo will assign its growth hormone business to JCR. Dainippon Sumitomo slipped 0.7 percent to 695 yen. JCR rose 0.3 percent to 1,304 yen.

Dwango Co. (3715 JT): The Internet content provider said it will have a special profit of 104 million yen ($1.15 million) due to a merger of its subsidiary and an affiliate company. The stock jumped 5.1 percent to 149,500 yen.

FamilyMart Co. (8028 JT): The convenience-store operator plans to invest 500 million yen for an 8.2 percent stake in Entertainment Plus Inc., a ticket vendor that is an affiliate of Sony Corp. (6758 JT), Nikkei English News reported, without citing a source for the information. FamilyMart is ending its ties with ticket company Pia Corp. (4337 JT), according to the report. FamilyMart slipped 1.5 percent to 2,939 yen. Sony gained 2.1 percent to 2,788 yen. Pia declined 0.5 percent to 991 yen.

Hitachi Ltd. (6501 JT): Japan’s third-largest company by revenue said it will enter the cloud-computing industry and generate 500 billion yen in annual revenue from the business in the next five years.

Separately, Hitachi plans to reduce procurement costs by about 200 billion yen this fiscal year by using different materials and increasing joint purchases with affiliated companies such as Hitachi Cable Ltd. (5812 JT), Nikkei English News said, without citing anyone. Hitachi Ltd. shares rose 2.2 percent to 368 yen. Hitachi Cable increased 3 percent to 243 yen.

Honda Motor Co. (7267 JT): Japan’s second-largest carmaker will halt vehicle production in China at least until May 29 due to a strike at a parts plant, Yasuko Matsuura, a spokeswoman for the Tokyo-based company, said by phone. The stock increased 1.2 percent to 2,775 yen.

Kayaba Industry Co. (7242 JT): The maker of hydraulic equipment for automobiles said it will sell all the shares it holds in MacGREGOR-Kayaba Ltd. to Cargotec Netherlands BV The company said a one-time gain from the share sales is already reflected in its profit forecast. The stock rose 2.2 percent to 327 yen.

Keihin Corp. (7251 JT): The auto-parts maker, an affiliate of Honda Motor Co., may see its group free cash flow fall 32 percent to 3.4 billion yen for the year ending March 2011, Nikkei English News reported, without saying how it got the information. Keihin climbed 1.5 percent to 1,639 yen.

Kinki Nippon Tourist Co. (9726 JT): The travel agency said it sold land and a building in Tokyo for 3.2 billion yen to Kaga Electronics Co. (8154 JT), which makes parts for computers and electronics. Kinki Nippon advanced 1.3 percent to 81 yen. Kaga Electronics declined 2.2 percent to 882 yen.

Kinugawa Rubber Industrial Co. (5196 JT): The rubber and resin processor said it will set up a subsidiary in Dalian, China, to manufacture molds used to make autoparts in the region. The stock climbed 3 percent to 348 yen.

Kura Corp. (2695 JT): The sushi restaurant chain increased full-year net income forecast by 9.1 percent to 2.98 billion yen on a parent basis, citing a decline in fish prices. The stock dipped 0.5 percent to 1,408 yen.

Misumi Group Inc. (9962 JT): The mail-order distributor of precision machine parts said its sales in April jumped 68.1 percent to 9.8 billion yen. That was 6.8 percent higher than the company’s target. The stock gained 1.4 percent to 1,657 yen.

Mitsubishi Pencil Co. (7976 JT): The maker of writing instruments forecast full-year net income will rise to 3.2 billion yen on higher sales, 19 percent higher than its earlier projection. The stock rose 0.9 percent to 1,205 yen.

Nippon Yusen K.K. (9101 JT): Japan’s biggest shipping line by sales said it will investigate the impact on its earnings from a fine levied by South Korea on its air-cargo unit. The stock advanced 1.6 percent to 327 yen.

Nissan Motor Co. (7201 JT): The sixth-largest automaker by U.S. sales will offer a $500 cash rebate on most car and truck models through to May 31, a U.S. holiday, to boost sales. The stock rose 1.2 percent to 655 yen.

Panasonic Electric Works Co. (6991 JT): The manufacturer of building materials and light equipment will invest 2 billion yen to build a production line in Suzhou, China, to make light- emitting diode materials, according to a statement on the Japanese company’s website. The stock retreated 1.2 percent to 924 yen.

Shikoku Electric Power Co. (9507 JT): The utility said it will spend as much as 18 billion yen to repurchase up to 3.2 percent of its outstanding shares.

Separately, the utility and trading house Sojitz Corp. (2768 JT) will each take an 11 percent stake in a $1.7 billion project led by GDF Suez SA (GSZ FP) to build two power plants in Oman, according to a statement released in Tokyo. Shikoku Electric dropped 1.5 percent to 2,407 yen. Sojitz climbed 2.1 percent to 148 yen.

Shoei Co. (3003 JT): The property developer cut full-year sales forecast by 10 percent to 13.5 billion yen because of a sale of securities in its subsidiary. The stock leapt 4 percent to 644 yen.

Sony Corp. (6758 JT), KDDI Corp. (9433 JT), Toppan Printing Co. (7911 JT): The companies and Asahi Shimbun Publishing Co. (ASAHZ JP) said they’ll form a venture to provide electronic publications. The venture will be formed in July and services will begin this year, the companies said in a statement.

Sony will reintroduce an electronic book reader in the Japanese market, Fujio Noguchi, a senior vice president at the Tokyo-based commpany, told reporters, without giving a date. Sony climbed 2.1 percent to 2,788 yen. KDDI gained 0.1 percent to 420,500 yen. Toppan advanced 2.5 percent to 772 yen.

Toyota Motor Corp. (7203 JT): The automaker lost its bid to dismiss a Florida company’s patent-infringement claim that may result in a ban on imports of the carmaker’s newest hybrid models including the Prius and Camry. The shares gained 1.1 percent to 3,275 yen.

Tsukishima Kikai Co. (6332 JT): The plant builder said in its medium-term business plan it aims to earn an operating profit of 3.8 billion yen in the year ending in March 2013, compared with 1.9 billion yen it posted in March 2010. The stock was unchanged at 625 yen.

To contact the reporter on this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net; Anna Kitanaka in Tokyo at akitanaka@bloomberg.net

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