Daiichi Sankyo, Kirin, Nissan, 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 from the previous close. The information in each item was released after markets shut, unless stated otherwise.
Daiichi Sankyo Co. (4568 JT): Japan’s third-biggest drug maker said its unit Luitpold Pharmaceuticals Inc. agreed to acquire California-based Roxro Pharma Inc.
Separately, Daiichi Sankyo will spend 6 billion yen ($72 million) to increase production of generic injection drugs in the U.S., the Nikkei newspaper reported. Daiichi Sankyo gained 0.2 percent to 1,825 yen.
Hi-Lex Corp. (7279 JO): The cable maker said full-year net income rose to 7.52 billion yen from 1.17 billion yen a year earlier. The stock declined 0.9 percent to 1,226 yen.
Kamigumi Co. (9364 JT): The port-harbor transportation company said it will buy back up to 1.9 percent of its outstanding shares for up to 3.5 billion yen. The stock gained 1.2 percent to 691 yen.
Kansai Paint Co. (4613 JT): Japan’s biggest paint maker offered to buy the shares it doesn’t already own in Freeworld Coatings Ltd. for 12 rand each. Kansai Paint increased 0.5 percent to 774 yen.
Kirin Holdings Co. (2503 JT): Japan’s biggest beer maker said it will retire 2.89 percent of its total shares on Dec. 30. The stock declined 0.2 percent to 1,172 yen.
Mitsubishi Heavy Industries Ltd. (7011 JT): The maker of heavy machinery and Areva SA will invest several billion yen through a venture in Washington State to produce nuclear fuel, the Nikkei newspaper reported. Mitsubishi Heavy gained 1 percent to 304 yen.
NKSJ Holdings Inc. (8630 JT): The casualty insurer said it agreed to sell 9.99 percent of Fiba Sigorta ASA, a Turkish insurer, to the European Bank for Reconstruction and Development for 50.6 million Turkish lira ($33 million). NKSJ slid 0.8 percent to 590 yen.
Nissan Motor Co. (7201 JT), Mitsubishi Motors Corp. (7211 JT): The automakers will expand their alliance to supply more models jointly, the Nikkei newspaper reported. Nissan fell 0.9 percent to 807 yen. Mitsubishi Motors gained 1.7 percent to 118 yen.
Shoei Foods Corp. (8079 JT): The food-trading company said full-year net income rose 38 percent to 1.41 billion yen from a year earlier. The stock advanced 0.9 percent to 550 yen.
Softbank Corp. (9984 JT): The mobile-phone operator’s personal handyphone system affiliate, Wireless City Planning Inc., will receive investment from five non-Japanese companies to raise its capital to 20 billion yen, the Nikkei newspaper reported. The stock was unchanged at 2,960 yen.
Toshiba Corp. (6502 JT): The flash-memory chips maker will invest 100 billion yen for a factory in Japan to supply liquid- crystal display panels for Apple Inc. iPhones, the Nikkei reported. The stock rose 1.9 percent to 440 yen.
Toyota Motor Corp. (7203 JT): The world’s largest automaker said it is recalling 94,126 of its 2011 model Sienna minivans because brakes may become partially stuck. The stock rose 0.6 percent to 3,250 yen.
To contact the editor responsible for this story: Nick Gentle at firstname.lastname@example.org.