Advantest, Canon, Isuzu, Mitsubishi UFJ: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading today. 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.

Advantest Corp. (6857) (6857 JT): The world’s biggest maker of memory-chip testers had an operating profit of about 6 billion yen ($73 million) in the year ended March 2011, the first gain in three years, the Nikkei newspaper reported. The stock rose 1.5 percent to 1,473 yen.

All Nippon Airways Co. (9202 JT): Asia’s largest listed carrier by sales said international bookings for the series of holidays known as Golden Week are similar to last year, while domestic reservations are down about 10 percent. The stock increased 0.4 percent to 227 yen.

Canon Inc. (7751) (7751 JT): The world’s largest maker of cameras and office equipment’s operating profit for the January-March period dropped 8 percent to about 80 billion yen from a year ago, falling short of the company’s forecast, the Nikkei newspaper reported. Canon forecast the profit would rise more than 10 percent, according to the report. The stock slid 0.3 percent to 3,560 yen.

Canon Marketing Japan Inc. (8060) (8060 JT): The distributor for Canon Inc. (7751 JT) products in Japan reversed its forecast for the year ending Dec. 31 to a net loss of 1.9 billion yen from a profit of 4 billion yen, citing possible declines in spending by corporate customers and consumers after the March 11 earthquake. Canon Marketing said it will reconsider dividend payouts for this year. Canon Marketing retreated 3.4 percent to 931 yen.

Isuzu Motors Ltd. (7202) (7202 JT): The automaker and Volkswagen AG (VOW) are in talks to jointly supply truck engines, the Nikkei newspaper reported. The talks may result in the companies taking stakes in each other, according to the report. Isuzu advanced 1.2 percent to 334 yen.

Kawasaki Heavy Industries Ltd. (7012) (7012 JT): The heavy- machinery maker had net income of 25.8 billion yen in the year ended March 31, missing its forecast by 11 percent because of impairment losses on fixed assets, according to a preliminary earnings statement. The stock was unchanged at 354 yen.

Koa Corp. (6999) (6999 JT): The electronic-parts maker said full- year net income more than doubled to 2.66 billion yen from 1.21 billion yen a year ago, as sales climbed. Profit was 11 percent higher than the company’s forecast. The company projected earnings for the April-June period will drop 23 percent to 600 million yen from a year earlier. The stock advanced 3.2 percent to 875 yen.

Krosaki Harima Corp. (5352) (5352 JT): The manufacturer of firebricks and other equipment used by steel and glassmakers said it will buy 51 percent of India’s Tata Refractories Ltd. for 10.5 billion yen. Krosaki Harima will buy the shares from Tata Steel Ltd. (TATA) , according to a statement to the Tokyo Stock Exchange. Krosaki Harima rose 1.5 percent to 329 yen.

Mitsubishi UFJ Financial Group Inc. (8306) (8306 JT): Morgan Stanley (MS) reached a deal to convert most of Mitsubishi UFJ Financial Group preferred stock in the company, paying a premium of about $2 billion to eliminate annual dividend payments of $784 million. Mitsubishi UFJ fell 1.6 percent to 374 yen.

Mizuho Securities Co. (8606 JT): The securities firm booked 85 billion yen worth of impairment losses on assets of its Mizuho Securities UK Holdings Ltd. unit. The stock rose 1 percent to 203 yen.

Nippon Paint Co. (4612 JT): The paint maker said full-year net income jumped 65 percent to 14.4 billion yen from a year ago, exceeding the company’s forecast by 12 percent, according to a preliminary earnings statement. The stock gained 1 percent to 533 yen.

Nippon Synthetic Chemical Industry Co. (4201 JT): The maker of chemical products said net income for the year ended March 31 increased to 6.1 billion yen from 5.75 billion yen a year ago, according to a preliminary earnings statement. The result compares with an earlier forecast of 5.5 billion yen. The company raised its planned second-half dividend to 7 yen from 5 yen. The stock gained 0.2 percent to 469 yen.

Nissen Holdings Co. (8248 JO): The mail-order retailer said it will spend 1.9 billion yen to make Mail & E Business Logistics Service Co. a wholly owned subsidiary. Nissen will acquire the remaining 50.5 percent of Mail & E from Toyota Industries Corp. (6201) (6201 JT), according to a statement to the Tokyo Stock Exchange. Nissen gained 0.6 percent to 504 yen. Toyota Industries increased 1.8 percent to 2,391 yen.

Sharp Corp. (6753 JT): Japan’s largest maker of liquid- crystal displays said before the market closed yesterday it plans to begin making smaller panels for mobile devices at a plant that’s optimized for TV-display production. The move is part of a reorganization of the company’s LCD business, it said in a statement. The stock rose 1.4 percent to 753 yen.

Softbank Corp. (9984) (9984 JT): Japan’s third-largest mobile- phone operator plans to buy back as much as 16 billion yen of its own shares by July 29. The company earlier planned to buy back up to 12 billion yen of shares by March 31 2011, according to a statement to the Tokyo Stock Exchange. The stock slipped 0.4 percent to 3,420 yen.

Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): The bank is likely to report net income in the upper 400 billion yen range for the fiscal year ended March 31, Jiji reported, without citing anyone. The stock dropped 0.5 percent to 2,446 yen.

Toenec Corp. (1946) (1946 JT): The building contractor had 2.13 billion yen in net income for the year ended March 31, beating the company’s forecast by 33 percent because of profit from derivative products. The stock declined 1.6 percent to 435 yen.

Toyota Motor Corp. (7203) (7203 JT): The world’s largest automaker said it plans to voluntarily recall some 2007 and 2008 model year RAV4 vehicles and some 2008 Highlander and Highlander HV vehicles sold in the U.S. The stock gained 0.8 percent to 3,195 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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