JAPAN DAYBOOK: Current Account, Thirty-Year Bond Sale

A report today may show Japan’s current account surplus narrowed in January because of Lunar New Year celebrations in China and South Korea.

WHAT TO WATCH *Current account balance for January. Survey -47.6%. *Money supply for February 8:50 a.m. Survey +2.3%. *Bank lending ex-trusts for February 8:50 a.m. Survey -1.8%. *Morning cabinet meeting followed by minister briefings. *Honda navigation system briefing 10:30 a.m. *Thirty-year bond auction results 12:45 p.m. *Bankruptcies February 1:30 p.m. *Economy watchers survey 2 p.m.

EQUITY PREVIEW *Century Tokyo Leasing (8439 JT) increased its full-year net income forecast 4.7 percent to 22.5 billion yen and raised its planned second-half dividend to 21 yen from 19 yen. *Hi-Lex (7279 JO) forecast net income for the six months ending April 30 will reach 2.46 billion yen, 46 percent higher than its earlier projection. *Mitsubishi Electric (6503 JT) won a $571 million order from Turkey for two satellites, the Nikkei newspaper reported. *Mochida Pharmaceutical (4534 JT) will cancel 3.25 percent of its outstanding shares on March 23. *Pigeon (7956 JT) forecast full-year net income will rise 13 percent to 3.3 billion yen with a 7.1 percent increase in sales this year. *Shinsei Bank (8303 JT) will sell new shares to the public for 108 yen each to raise as much as 71.2 billion yen, according to a filing with Japan’s finance ministry. *Terumo (4543 JT) offered to buy CaridianBCT Holding Corp. of the U.S. for $2.63 billion from Gambro AB. *Yurtec (1934 JT) raised its net income forecast for the year ending March 31 to 1.5 billion yen from 600 million yen.

ANALSYT RATINGS FOR NIKKEI 225 COMPANIES *Kyocera (6971 JT) raised to overweight at Barclays. *Eisai (4523 JT) raised to buy at Citigroup. *East Japan Railway (9020 JT) cut to neutral at Goldman. *West Japan Railway (9021 JT) cut to sell at Goldman.

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