(Corrects description of JX Nippon Mining & Metals Co.)
The following companies may have unusual price changes in Japanese trading today. Stock symbols are in parentheses, and share prices are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Hitachi Ltd. (6501) (6501 JT): The electronics maker expects to have its main factory in full operation next month, the Nikkei newspaper reported, citing the plant’s general manager, Tatsuro Ishizuka. Separately, An auto-leasing venture between Sumitomo Corp. (8053) (8053 JT) and Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT) will take control of Hitachi’s auto-leasing operations, the Nikkei newspaper reported. Hitachi declined 1 percent to 402 yen. Sumitomo fell 1.9 percent to 1,161 yen. Sumitomo Mitsui sank 2.9 percent to 2,623 yen.
Honda Motor Co. (7267 JT): The company, which makes more than 80 percent of the automobiles it sells in the U.S. at North American plants, plans to reduce output on the continent as parts supplies from Japan dwindle. The stock rose 0.8 percent to 3,065 yen.
Gulliver International Co. (7599 JT): The used-car dealer said in a preliminary earnings statement full-year operating profit totaled 8 billion yen ($98 million), 33 percent more than its 6 billion yen outlook. The stock sank 1.5 percent to 3,045 yen
Idemitsu Kosan Co. (5019 JT) and Panasonic Corp. (6752) (6752 JT): Idemitsu, Japan’s third-biggest oil refiner by capacity, said it and Panasonic Electric Works Co. will next month form a venture to make organic light-emitting diode panels. Idemitsu slid 1.8 percent to 9,780 yen. Panasonic gained 1.8 percent to 1,033 yen.
IHI Corp. (7013) (7013 JT): The heavy-machinery maker resumed partial operations at its No. 1 and No. 2 factories in Soma, Fukushima prefecture. The plants, which produce aircraft parts and turbines, suffered minor damage in the March 11 earthquake. The stock fell 0.5 percent to 188 yen.
JX Holdings Inc. (5020) (5020 JT): The company’s JX Nippon Mining & Metals Co. unit said its processing plants in Ibaraki prefecture resumed partial operations after the March 11 earthquake. The stock dropped 0.4 percent to 562 yen.
Mitsui O.S.K. Lines Ltd. (9104 JT): The operator of the world’s largest merchant fleet is leaving its liquefied natural gas, oil and bulk shipping operations unchanged amid Japan’s nuclear crisis, said spokeswoman Eiko Mizuno. The stock slipped 1.1 percent to 468 yen.
Mitsubishi Estate Co. (8802 JT): Japan’s second-largest developer said it started a 30 billion-yen private real-estate investment trust that will invest in “high-end” buildings in the country aimed mainly at the pension funds. The stock lost 0.4 percent to 1,377 yen.
Mizuho Financial Group Inc. (8411) (8411 JT): The lender will tomorrow join a corporate turnaround fund being established to overhaul Japanese businesses, the Nikkei newspaper reported. The stock tumbled 6 percent to 140 yen.
Nissan Motor Co. (7201 JT): Japan’s second-largest automaker by sales and partner Ashok Leyland Ltd. (AL) will sell a new light truck in India in three versions, according to a statement in Chennai. Also, Nissan expects its factories in Japan to return to normal operations by the end of the first quarter after the March 11 earthquake and tsunami, Andy Palmer, senior vice president, told reporters in Chennai. Nissan advanced 0.6 percent to 704 yen.
Shikoku Electric Power Co. (9507 JT): The utility said it will retire 2.1 percent of its total shares on March 31. The stock declined 0.9 percent to 2,337 yen.
Toppan Printing Co. (7911 JT): The printing company resumed partial production at its plant in Sendai, Miyagi prefecture, after operations were halted by Japan’s March 11 earthquake and tsunami. The stock climbed 0.8 percent to 629 yen.
Tokyo Electric Power Co. (9501 JT): Vice President Sakae Muto said he is unaware of any discussions to nationalize the power utility, after the Yomiuri newspaper reported today that the government was considering taking over the company. Asia’s largest utility, known as Tepco, is concentrating fully on work to restore the crippled Fukushima Dai-Ichi nuclear plant, Muto told reporters. Also, Tepco has no plan yet to test for plutonium outside its Fukushima Dai-Ichi nuclear plant. The stock plunged 19 percent to 566 yen.
Toyota Motor Corp. (7203) (7203 JT): The world’s biggest carmaker said it may take a “long time” for parts production to recover from the March 11 earthquake. The impact may be substantial depending on the models affected, Toyota said. The stock sank 1.2 percent to 3,255 yen.
Yokohama Rubber Co. (5101 JT): Japan’s third-biggest tiremaker said it will raise domestic prices for tires made by Continental AG by up to 8 percent on May 1 after costs for rubber and other materials increased. The stock lost 0.3 percent to 395 yen.
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