JAPAN DAYBOOK: Cabinet Approves Budget as Debt Soars

Japan’s cabinet will approve a budget proposal for next fiscal year. Prime Minister Naoto Kan has pledged to cap sales of government bonds to help contain the nation’s growing debt burden.

WHAT TO WATCH *The cabinet meets to approve the budget for next fiscal year. Finance Minister Yoshihiko Noda and Chief Cabinet Secretary Yoshito Sengoku hold press conferences after the meeting. *DoCoMo president Ryuji Yamada holds a 10 a.m. briefing on the start of a new high-speed service. *Suzuki introduces its Solio compact at 11 a.m. *Carmakers announce November production, starting at 11:30.

EQUITY PREVIEW *Able Chintai (3272 JQ) to buy back 6.65 percent of shares. *Ministop (9946 JT) raised its full-year profit forecast 38 percent. *Nisshinbo Holdings (3105 JT) raised its full-year forecast for operating profit by 40 percent. *Toshiba (6502 JT) plans to outsource fabrication of system chips to Samsung Electronics, the Nikkei newspaper said.

ANALYST RATINGS FOR NIKKEI 225 COMPANIES *Mitsui OSK (9104 JT) cut to sell at Goldman. *Yamato Holdings (9064 JT) initiated buy at Goldman. *Nippon Express (9062 JT) initiated sell at Goldman. *All Nippon Airways (9202 JT) raised to neutral at Goldman. *Taiyo Yuden (6976 JT) initiated outperform at Nikko. *Kyocera (6971 JT) initiated neutral at Nikko. *TDK (6762 JT) initiated neutral at Nikko. *Minebea (6479 JT) initiated neutral at Nikko. *Sumitomo Realty (8830 JT) raised to buy at UBS. *Mitsubishi Estate (8802 JT) raised to buy at UBS. *Daiichi Sankyo (4568 JT) cut to reduce at BNP Paribas.

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