Daihatsu, JX, Mitsubishi Motors, Toyota: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading on Jan. 17. 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.

Daido Steel Co. (5471 JT): The steelmaker plans to invest about 30 billion yen in its two main factories in Japan to improve production efficiency, the Nikkei newspaper reported. Daido rose 0.6 percent to 513 yen.

Daihatsu Motor Co. (7262 JT): The carmaker, an affiliate of Toyota Motor Co. (7203 JT), said it plans to halt European sales of new vehicles as of Jan. 31, 2013, after carbon-emission restrictions increased the company’s costs and the yen’s rising value hurt profitability. Daihatsu gained 0.7 percent to 1,293 yen. Toyota increased 0.4 percent to 3,550 yen.

Harmonic Drive Systems Inc. (6324 JQ): The maker of precision instruments reported a 66 percent jump in sales in the October-December period to 4.9 billion yen ($59 million) on a parent basis, compared with the same period a year ago. The stock rose 1.6 percent to 482,500 yen.

Japan Wool Textile Co. (3201 JT): The textile maker said it expects full-year net income to increase 40 percent to 3 billion yen this year. The company also said it will spend as much as 240 million yen to buy back up to 0.4 percent of its shares. The stock slid 0.1 percent to 690 yen.

JX Holdings Inc. (5020 JT): Japan’s biggest refiner may report a current profit of about 200 billion yen for the nine months ended Dec. 31, helped by improved earnings from the petroleum refinery business, the Nikkei newspaper reported. That would be an increase of 25 percent from a year earlier, it said. The stock fell 1.5 percent to 583 yen.

Marui Group Co. (8252 JT): The retailer and consumer lender said it will book a charge of 3.81 billion yen because of devaluation of securities for the three months ended Dec. 31. The stock gained 0.6 percent to 704 yen.

Mitsubishi Motors Corp. (7211 JT): The carmaker plans to invest as much as 30 billion yen in MMC Automotores do Brasil, a contract manufacturer, to gain more than 50 percent control of the company, the Nikkei newspaper reported. Mitsubishi Motors slid 2.5 percent to 118 yen.

Nagano Bank Ltd. (8521 JT): The regional bank said a subsidiary will receive 1 billion yen in preferred shares from Orix Corp. (8591 JT) in a capital and business alliance. Nagano Bank was unchanged at 167 yen. Orix slipped 0.4 percent to 8,250 yen.

Osaka Organic Chemical Industry Ltd. (4187 JO): The maker of organic chemicals said it plans to invest 2 billion yen to produce chemicals for automotive paints and glues at a plant in Sakata, northern Japan. The stock climbed 3.8 percent to 626 yen.

Osaka Securities Exchange Co. (8697 JQ): The bourse plans to extend late trading hours of derivative transactions from July to attract investors, the Nikkei newspaper reported. The new closing time will be 3 a.m. compared with the current 11:30 p.m., it said. The stock dropped 0.2 percent to 438,500 yen.

Plenus Co. (9945 JT): The distributor of boxed meals raised full-year net income forecast 22 percent to 2.4 billion yen, citing recovery in same-store sales and cost cuts. The company said its profit for the March-November period dropped 28 percent from a year ago. The stock gained 0.1 percent to 1,256 yen.

Toyota Motor Corp. (7203 JT): The automaker may face the first trial on sudden-acceleration claims in the first three months of 2013, according to James V. Selna, a federal judge overseeing the lawsuits against Toyota. The company is developing an alternative motor for future hybrid autos and electric cars that doesn’t need rare-earth minerals at risk of supply disruptions, John Hanson, a company spokesman said. The stock rose 0.4 percent to 3,550 yen.

Union Tool Co. (6278 JT): The maker of drill bits forecast a 13 percent increase in operating profit for the year started Dec. 1. Operating profit for the year ended Nov. 30 totaled 2.64 billion yen, short of the company’s forecast by 11 percent. The company also said it decided to pay a commemorative dividend of 5 yen a share in addition to the planned yearend dividend of 15 yen a share. The stock rallied 1.5 percent to 2,417 yen.

Yaskawa Electric Corp. (6506 JT): The maker of servomotors has won an order from a Japanese venture to supply motors and control equipment for about 1,000 electric vehicles, the Nikkei newspaper reported. The stock gained 1.7 percent to 830 yen.

To contact the reporter on this story: Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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