Asahi Glass, Canon, Dowa, Takashimaya: Japan Equity Preview
The following companies may have unusual price changes in Japanese trading on Dec. 27. 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.
Asahi Glass Co. (5201 JT): Japan’s biggest glass producer will book a 9.5 billion yen ($114 million) loss related to shutting down its South Korean subsidiary’s cathode-ray-tube glass business. The stock slid 0.4 percent to 959 yen.
Canon Inc. (7751 JT): The world’s biggest camera maker said it will pay a year-end dividend of 65 yen, up from 55 yen last year. The stock gained 0.1 percent to 4,270 yen.
Dowa Holdings Co. (5714 JT): The metal-products smelter said it will set up a venture with a Chinese company to recycle electric appliances in the region. It aims to have 300 million yen or more in sales in the year ending March 2016. The stock dropped 0.6 percent to 531 yen.
Fuji Electric Holdings Co. (6504 JT): The maker of heavy electrical machinery said it will set up a venture with General Electric Co. (GE US) on Feb. 1 to manufacture and sell meters. Fuji Electric sank 1.2 percent to 246 yen.
JX Holdings Inc. (5020 JT): The oil refiner said its unit JX Nippon Oil & Energy Corp. and a venture between Mitsui & Co. (8031 JT) and Marubeni Corp. (8002 JT) will merge their liquefied petroleum gas operations. JX climbed 1.1 percent to 557 yen. Mitsui gained 0.1 percent to 1,326 yen. Marubeni was unchanged at 577 yen.
Nagaileben Co. (7447 JT): The maker of medical clothing booked a 12 percent increase in first-quarter net income to 402 million yen as sales increased 13 percent. The stock dropped 1.1 percent to 2,080 yen.
Toshiba Corp. (6502 JT): Japan’s biggest chipmaker plans to sell a semiconductor factory to Sony Corp. (6758 JT), an electronics maker, and outsource some output to Samsung Electronics Co. (005930 KS) as it reorganizes its system-chip business to improve profitability.
Toshiba will spend more than 100 billion yen to build a liquid-crystal display plant in Japan’s Ishikawa prefecture, Kyodo News reported, citing the prefecture’s governor. Toshiba rose 0.7 percent to 441 yen. Sony fell 0.4 percent to 2,959 yen.
Takashimaya Co. (8233 JT): The department-store chain said net income for the nine months to Nov. 30 jumped to 10.6 billion yen from 4.04 billion yen a year earlier. The stock retreated 1.7 percent to 702 yen.
United Arrows Ltd. (7606 JT): The apparel chain said it will close three men’s clothing stores. Sales at the stores accounted for 0.8 percent of the total revenue in the year ended March 2009. The stock climbed 3.1 percent to 1,271 yen.
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