Frontier, Kenedix, Mitsui High-Tec, Park24, Softbank: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut, unless stated otherwise.

AnGes MG Inc. (4563 JT): The developer of gene therapy said the U.S. granted it a patent related to extending the use of a drug. The stock lost 2.4 percent to 131,700 yen.

Frontier Real Estate Investment Corp. (8964 JT): The real estate investment trust said it plans to raise as much as 20 billion yen ($218 million) in a public share sale to purchase properties and repay debt. The stock rose 0.8 percent to 631,000 yen.

Fujifilm Holdings Corp. (4901 JT): The filmmaker set a target of a return on assets of at least 5 percent in the year ending March 31, 2012, after a restructuring, Nikkei English News reported. Fujifilm intends to cut total assets by about 20 percent from fiscal 2008 levels to 2.5 trillion yen and have operating profit of 230 billion yen, a record, in fiscal 2011, Nikkei said. The stock advanced 1.2 percent to 2,633 yen.

Hodogaya Chemical Co. (4112 JT): The chemicals maker said it will acquire a 34 percent stake in South Korea’s SFC Co. Hodogaya increased 2.3 percent to 313 yen.

JSP Corp. (7942 JT): The maker of polystyrene products said it will establish a subsidiary that makes polypropylene used in autoparts and home appliances in India. The stock gained 4.2 percent to 846 yen.

Kenedix Realty Investment Corp. (8972 JT): The real estate investment trust said it asked Moody’s Investors Service to withdraw its issuer and long-term debt ratings. Kenedix advanced 1.1 percent to 266,100 yen.

Miraial Co. (4238 JQ), Toshiba Machine Co. (6104 JT): Toshiba Machine, an industrial machinery maker, will sell its 34 percent stake in a venture with Miraial to its partner, the companies said in separate releases. Miraial, a maker of silicon boxes for shipping semiconductors, rose 2.1 percent to 2,705 yen. Toshiba Machine gained 3.1 percent to 371 yen.

Mitsui High-Tec Inc. (6966 JT): The machinery-parts maker had first-quarter net income of 10 million yen following a loss year earlier, as sales more than doubled. The stock jumped 4.6 percent to 701 yen.

NTT Data Corp. (9613 JT): The network-services company said it entered into an agreement to purchase Intelligroup Inc. (ITIG US) for $199 million through an all-cash tender offer. The tender offer by Tokyo-based NTT Data would be followed by a second-step merger to buy all remaining shares at the same price, the company said in a statement. NTT Data gained 2.8 percent to 363,500 yen.

Park24 Co. (4666 JT): The parking-lot operator said May sales on a parent basis rose 10.1 percent from a year earlier to 7.62 billion yen. The stock rose 0.5 percent to 927 yen.

Shoei Foods Corp. (8079 JT): The food-trading company said first-half net income more than tripled to 1.18 billion yen, buoyed by improved production in units of Japan and China. The stock rose 1.3 percent to 487 yen.

Softbank Corp. (9984 JT): Japan’s third-largest wireless carrier said it will charge 46,080 yen for a 16-gigabyte model of Apple Inc.’s (AAPL US) iPhone 4 in Japan, and 57,600 yen for a 32-gigabyte model. Also, Softbank paid 13.5 billion yen for a stake in Zynga Game Network Inc. (2741065Z US) through a private placement earlier this month, Nikkei English News reported. Softbank advanced 1.4 percent to 2,355 yen.

Toyo Seikan Kaisha Ltd. (5901 JT): The maker of food and drink cans said it will set up a venture to make plastic bottles in China. The stock advanced 2.5 percent to 1,408 yen.

Toyota Motor Corp. (7203 JT) and Nippon Steel Corp. (5401 JT): The companies agreed on a 20 percent increase in the price of automotive steel for the April-September period, the Asahi newspaper said, citing Toyota. Toyota rose 1.2 percent to 3,255 yen. Nippon Steel advanced 1.3 percent to 313 yen.

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

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