Bridgestone, Olympus, Sojitz, Toyota: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading on Nov. 8. 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.

Amano Corp. (6436 JT): The machinery maker said first-half net income jumped to 478 million yen ($5.9 million) from 54 million yen a year earlier. The stock rose 0.7 percent to 682 yen.

Bridgestone Corp. (5108 JT): The world’s largest tiremaker said it had a return to nine-month net income of 66.8 billion yen from a year-earlier loss, as sales rose 12 percent. The stock advanced 1.6 percent to 1,507 yen.

Calsonic Kansei Corp. (7248 JT): The autoparts maker tripled its full-year net income projection to 6 billion yen, citing cost cuts. The stock gained 3.4 percent to 271 yen.

Credit Saison Co. (8253 JT): The credit-card company raised its full-year net income forecast 33 percent to 12 billion yen. The stock jumped 4.5 percent to 1,173 yen.

Daiwa House Industry Co. (1925 JT): The homebuilder said in a preliminary earnings statement first-half net income was 28.9 billion yen, about double its 14 billion yen forecast, on higher -than-expected sales. The stock rose 1.4 percent to 898 yen.

Isetan Mitsukoshi Holdings Ltd. (3099 JT): The retailer’s first-half net income was 400 million yen, 20 percent below its outlook, citing charges from a drop in the value of its investment securities and tax costs. The stock rose 3.1 percent to 934 yen.

ITX Corp. (2725 JQ): Olympus Corp. (7733 JT), an optical- equipment maker, will buy the rest of ITX through a tender offer, the companies said in press releases. ITX rose 0.7 percent to 45,300 yen.

JX Holdings Inc. (5020 JT): The oil refiner raised its full-year net income outlook 19 percent to 320 billion yen. The stock rose 2.7 percent to 496 yen.

Namco Bandai Holdings Inc. (7832 JT): The video-game developer said first-half net loss narrowed to 1.93 billion yen from 6.04 billion yen a year earlier. The company cut its full- year net income forecast 60 percent to 1.8 billion yen. Namco Bandai also said it will buy back up to 2.07 percent of its total shares. The stock slid 0.5 percent to 767 yen.

Nippon Flour Mills Co. (2001 JT), OK Food Industry Co. (2905 JQ): Nippon Flour offered to pay 123 yen a share to raise its stake in OK Food to 51 percent from 33.4 percent, according to a filing from the company. Nippon Flour rose 0.3 percent to 388 yen. OK Food lost 3.2 percent to 91 yen.

Oiles Corp. (6282 JT): The bearing maker said it will repurchase up to 4.69 percent of its outstanding shares. The stock rose 2.8 percent to 1,290 yen.

Olympus Corp. (7733 JT): The optical-equipment maker cut its full-year net income forecast 29 percent to 15 billion yen. The company also said it will spend as much as 10 billion yen to buy back up to 1.85 percent of its total shares. The stock jumped 6.3 percent to 2,309 yen.

Sojitz Corp. (2768 JT): The trading house said a unit began production at the Phoenix oil field in the Gulf of Mexico in a joint project with Energy Resources Technology GOM Inc., a subsidiary of Helix Energy Solutions Group. (HLX US) Sojitz rose 3.5 percent to 150 yen.

Taiyo Yuden Co. (6976 JT): The maker of electronic components reversed its full-year forecast to net loss of 2.5 billion yen from an 8 billion yen profit, citing weaker-than- expected demand for electronic parts. The stock gained 4.2 percent to 1,066 yen.

Toppan Printing Co. (7911 JT): The printing company plans to invest about 5 billion yen to more than double production of protective film for solar batteries next year, according to the Nikkei newspaper. The stock rose 2.6 percent to 670 yen.

Toyota Motor Corp. (7203 JT): The world’s largest carmaker raised its full-year profit forecast as sales in Asia grow more than estimated, outweighing the impact of a stronger yen. Also, Toyota Motor Executive Vice President Satoshi Ozawa said the automaker will raise prices on cars to offset the strong yen. The stock increased 1.9 percent to 2,964 yen.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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