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JAPAN DAYBOOK: Nissan Earnings, Moody’s on Sovereigns

Nissan Motor Co. reports earnings and Thomas Byrne of Moody’s discusses sovereign ratings.

WHAT TO WATCH *IMF Deputy Managing Director Naoyuki Shinohara and Ministry of Finance Vice Minister Takehiko Nakao speak at a conference on banking supervision 9:30 a.m. *Panasonic (6752 JT) and Tokyo Gas (9531 JT) brief on household fuel-cells 10:30 a.m. *Fujitsu (6702 JT) briefs on computer systems 11 a.m. *NEC (6701 JT) briefs on platform business 11 a.m. *Office vacancy rate 11 a.m. *Consumer confidence for January 2 p.m. *Machine tool orders for January 3 p.m. *Moody’s analyst Thomas Byrne speaks to media on sovereign ratings 3 p.m. *Prime Minister Naoto Kan and opposition leader Sadakazu Tanigaki debate in parliament 4 p.m.

EARNINGS (Times may change.) *Aiful (8515 JT) 3 p.m. *Showa Denko (4004 JT) 3 p.m. *Pioneer (6773 JT) 3:30 p.m. *Nissan (7201 JT) 4:30 p.m. *Asahi Glass (5201 JT) NA *Citizen Holdings (7762 JT) NA *Japan Petroleum (1662 JT) NA *THK (6481 JT) NA

EQUITY PREVIEW *Asahi Breweries (2502 JT) forecast 2011 net income will climb 7.4 percent to 57 billion yen. *DCM Holdings (3050 JT) will cancel 1.3 percent of its shares. *Mitsubishi Materials (5711 JT) cut its full-year net income outlook 44 percent to 10 billion yen, and raised its annual operating profit projection 20 percent to 54 billion yen. *Nippon Shokubai (4114 JT) raised its full-year net income forecast 23 percent to 19 billion yen. *Santen Pharmaceutical (4536 JO) plans to raise 5.64 billion yen from a sale of treasury shares to the Development Bank of Japan. *Secom Techno Service Co. (1742 JT): Secom Co. (9735 JT) offered 3,500 a share to buy out Secom Techno Service. *Shimano (7309 JO) forecast a 15 percent gain in net income to 22 billion yen this year. *SMC Corp. (6273 JT) raised its planned year-end dividend to 60 yen a share from 50 yen. *Toyota Motor (7203 JT) raised its full-year profit forecast 40 percent to 490 billion yen. A U.S. review found unintended acceleration in some models was rooted in mechanical flaws rather than electronics defects.

ANALYST RATINGS FOR NIKKEI 225 COMPANIES *Dowa Holdings (5714 JT) cut to underweight at JP Morgan. *Kawasaki Kisen (9107 JT) cut to underperform at Macquarie. *Mitsui O.S.K. (9104 JT) cut to neutral at Macquarie. *Nippon Yusen (9101 JT) cut to neutral at Macquarie. *Konami (9766 JT) raised to outperform at Mitsubishi UFJ. *Tokyo Electric Power (9501 JT) raised to outperform at Mitsubishi UFJ. *Obayashi (1802 JT) cut to neutral at Nomura. *Pac Metals (5541 JT) initiated buy at Daiwa.

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