ANA, Fuji Foods, Monex, Nikon, Usen, Jeans Mate: Japanese 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.
All Nippon Airways Co. (9202 JT): Asia’s second-largest carrier by sales is seeking antitrust immunity for its alliance with United Airlines and Continental Airlines Inc. The Tokyo- based carrier submitted an application to Japan’s Transport Ministry, it said in a press release. All Nippon was unchanged at 294 yen.
Canon Inc. (7751 JT): The world’s biggest maker of cameras and office equipment will invest 9.1 billion yen to build a printer factory in China, and Seiko Epson Corp. (6724 JT) will spend about 2 billion yen to double production capacity in Indonesia, the Nikkei newspaper said. Canon fell 1.1 percent to 3,780 yen. Seiko Epson jumped 4.8 percent to 1,225 yen.
Coca-Cola Central Japan Co. (2580 JT) and Mikuni Coca-Cola Bottling Co. (2572 JT): The companies, along with two more Coca- Cola Co. group companies in the Tokyo area, plan to consolidate some of their operations, Nikkei English News reported. Morinaga & Co. (2201 JT), Japan’s fourth-largest confectionary maker, will also about halve the number of factories to three or four in a few years, the Nikkei said. Coca-Cola Central rose 4.1 percent to 1,158 yen. Mikuni Coca-Cola gained 2.4 percent to 723 yen. Morinaga jumped 5.5 percent to 210 yen.
Crescendo Investment Corp. (8966 JT) and Japan Single- Residence REIT Inc. (8970 JT): The real-estate investment trusts plan to merge in October to create a property trust with about 140 billion yen in assets, Nikkei English News said. Crescendo lost 2.2 percent to 141,300 yen. Japan Single-residence was unchanged at 97,100 yen.
Elpida Memory Inc. (6665 JT): The Japanese chipmaker, Powertech Technology Inc. and United Microelectronics Corp. will sign a technology cooperation agreement on June 21, Taiwan’s official Central News Agency reported, citing an industry source it didn’t name. Elpida fell 4 percent to 1,669 yen.
Fuji Foods Inc. (2913 JQ): The delicatessen foods maker and distributor may be taken private in a management buyout. The buyout group offered 500 yen per share for Fuji Foods, valuing it at as much as 7.91 billion yen ($87 million), it said in a release. The stock rallied 5.3 percent to 280 yen.
Jeans Mate Corp. (7448 JT): The casual-wear retailer said it will offer a severance package program to cut as many as 100 jobs. The company widened its full-year net loss outlook to 3.2 billion yen from 810 million yen, citing a charge related to the jobs reduction and less-than-expected sales. The stock advanced 0.3 percent to 335 yen.
Marubeni Corp. (8002 JT): The trading house has formed an alliance with Irkutsk Oil Co. to expand its energy operations in Russia, Nikkei English News said. Marubeni slid 1.2 percent to 495 yen.
Monex Group Inc. (8698 JT): The investing service provider said operating revenue in May rose to 2.38 billion yen from 1.68 billion yen a year earlier. The stock slipped 1.3 percent to 38,950 yen.
Mitsui Chemical Inc. (4183 JT): The chemical products maker’s free cash flow may total a negative 30 billion yen for the year ending March 2011, Nikkei English News reported, without saying how it obtained the information. The stock fell 1.5 percent to 272 yen.
Nikon Corp. (7731 JT): The camera maker said it aims to more than double net income to 65 billion yen in the fiscal year ending March 2013, compared with a projected 30 billion yen for the current fiscal year. The stock lost 0.5 percent to 1,672 yen.
Nomura Holdings Inc. (8604 JT): The company’s Nomura Securities will this year establish a fund to invest in infrastructure-development projects outside Japan, the Yomiuri newspaper said. The fund will seek 100 billion yen and invest in nuclear, railroad, and other projects, the newspaper reported. The stock fell 1.5 percent to 535 yen.
Sawai Pharmaceutical Co. (4555 JT): The drugmaker has bought out its venture with Sumitomo Corp. (8053 JT), making the generic drug unit a wholly owned subsidiary. Sawai rose 0.1 percent to 8,290 yen. Sumitomo slid 0.7 percent to 966 yen.
Seven Bank Ltd. (8410 JQ): The banking arm of Seven & I Holdings Co., Japan’s biggest retailer, may set up automated teller machines inside 7-Eleven convenience stores in South Korea, Taiwan and China, the Yomiuri newspaper reported, citing President Kensuke Futagoishi. Seven Bank fell 0.7 percent to 164,600 yen.
Usen Corp. (4842 JT): The provider of cable music services will sell its human resources business to an investment fund affiliated with Kohlberg Kravis Roberts & Co. (KKR US). Usen will sell the Intelligence Ltd. unit for 32.5 billion yen, it said in a press release. Usen retreated 1.7 percent to 59 yen.
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