Japan Tobacco, Mitsubishi, Sharp, Spancrete, Tsuzuki Denki: Equity Preview
The following companies may have unusual price changes in Japanese trading on July 20. Markets will be closed on July 19 for a national holiday. 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.
Ichiyoshi Securities Co (8624 JT): The brokerage swung to a first-quarter net loss of 209 million yen ($2.4 million) from a year-earlier profit of 98 million yen on falling sales, according to a preliminary earnings statement. The stock slid 0.8 percent to 588 yen.
Japan Tobacco Inc. (2914 JT): The world’s third-largest publicly traded cigarette maker had its plan to increase cigarette prices in October approved by the government. The Finance Ministry made the announcement in a statement. Japan Tobacco lost 2.7 percent to 271,000 yen.
Jupiter Telecommunications Co. (4817 JQ): The provider of cable-television broadcasting services said subscribers increased 3.7 percent to 3.34 million in June, compared with the same month a year earlier. The stock rose 0.2 percent to 88,000 yen.
Mitsubishi Corp. (8058 JT): The trading house said it will make capital investments of as much as 2.5 trillion yen over the next three years. The stock slipped 1.8 percent to 1,928 yen.
Sharp Corp. (6753 JT): Japan’s largest maker of liquid- crystal displays said it aims to win a 10 percent share of televisions sold in China. The company plans to capture as much as 7 percent of the market in the 12 months ending March 31, 2011. The stock retreated 3.7 percent to 944 yen.
Spancrete Corp. (5277 JQ): The maker of perforated precast concrete boards said it will buy back up to 2.46 percent of its outstanding shares. The stock was unchanged at 160 yen.
Tsuzuki Densan Co. (9884 JT): Tsuzuki Denki Co. (8157 JT), a sales affiliate of Fujitsu Ltd. (6702 JT), plans to spend as much as 2 billion yen to make Tsuzuki Densan a wholly owned subsidiary. Tsuzuki Denki now owns 44.57 percent of Tsuzuki Densan and will offer 400 yen a share for the remainder, according to a statement. Tsuzuki Densan gained 2.5 percent to 248 yen. Tsuzuki Denki rose 0.9 percent to 342 yen. Fujitsu lost 2.3 percent to 591 yen.
Village Vanguard Co. (2769 JQ): The retailer of books, CDs and videos expects a 30 percent drop in net income to 1.28 billion yen this fiscal year. The stock rose 1.1 percent to 398,500 yen.