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Komatsu, Mizuho, Nippon Steel, Toyota: 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.

Bank of Iwate Ltd. (8345) (8345 JT): The regional lender plans to set aside an additional 6 billion yen ($73 million) as provisions against bad loans after clients were affected by Japan’s March 11 earthquake and tsunami. The stock fell 1.2 percent to 2,978 yen.

Daiichi Sankyo Co. (4568 JT): The drugmaker received Japanese approval to make and sell edoxaban, a blood-thinning agent to prevent clotting, according to a statement to the Tokyo Stock Exchange. The stock fell 2.5 percent to 1,562 yen.

Daiwa House Industry Co. (1925 JT): The builder will book a charge of about 8 billion yen because of earthquake damage last month to buildings it owns. The stock dropped 0.5 percent to 929 yen.

FP Corp. (7947) (7947 JO): The maker of food containers increased its planned second-half dividend to 58 yen from 52 yen. The stock slipped 0.7 percent to 4,765 yen.

Hachijuni Bank Ltd. (8359) (8359 JT): The regional bank increased its planned second-half dividend to 5 yen from 3 yen. The stock slid 0.6 percent to 472 yen.

Jafco Co. (8595 JT): The venture-capital company booked net income of 2.33 billion yen for the year ended March 31, reversing a loss of 2.18 billion yen a year earlier. The company did not disclose a forecast for this year, as profit is influenced by stock and IPO markets. The company said it will pay a full-year dividend of 25 yen. The stock increased 0.9 percent to 2,083 yen.

Japan Tobacco Inc. (2914) (2914 JT): The world’s third-largest publicly traded cigarette maker said domestic cigarette sales by volume dropped 11 percent in the year ended March. Net sales excluding tax rose 0.2 percent to 617 billion yen in the same period, according to a statement to the Tokyo Stock Exchange. The stock gained 0.2 percent to 308,000 yen.

JX Holdings Inc. (5020) (5020 JT): The refiner will report a special loss of at least 100 billion yen for the fiscal year ended March 31 after last month’s earthquake damaged some of its facilities, the Nikkei newspaper said. The stock rose 1.3 percent to 532 yen.

Kayaba Industry Co. (7242 JT): The maker of hydraulic equipment for automobiles said it will start a venture in Brazil to make shock absorbers with Mando Corp. (060980) (060980 KS), a Korean maker of automotive parts. Kayaba Industry jumped 5.3 percent to 656 yen.

Komatsu Ltd. (6301) (6301 JT): The construction machinery maker may report operating profit of 300 billion yen for the current fiscal year, the Nikkei newspaper said. The figure would represent a 30 percent gain from the company’s 230 billion yen forecast for the fiscal year that ended on March 31. The stock gained 2.5 percent to 2,774 yen.

Matsumotokiyoshi Holdings Co. (3088 JT): The drugstore chain said it will spend as much as 3 billion yen to buy back up to 3.89 percent of its outstanding shares. The stock rose 0.7 percent to 1,560 yen.

Misumi Group Inc. (9962) (9962 JT): The mail-order distributor of precision machine parts said sales in March rose 11.8 percent from a year earlier to 11.6 billion yen. The stock gained 0.2 percent to 2,015 yen.

Mitsui Chemicals Inc. (4183) (4183 JT): The chemicals producer said net income totaled 24.9 billion yen for the year ended March 31, reversing a loss of 28 billion yen a year earlier, according to a preliminary earnings statement. Profit beat the company’s forecast by 3.8 percent. The stock advanced 1.1 percent to 288 yen.

Mizuho Financial Group Inc. (8411) (8411 JT): Satoru Nishibori will resign in June as president of Mizuho Bank Ltd., a unit of Mizuho Financial Group, after a failure of the bank’s automated teller machine network delayed billions of dollars in transactions, the Asahi newspaper reported. The stock fell 0.8 percent to 127 yen.

Nippon Steel Corp. (5401) (5401 JT): Japan’s largest steelmaker and Wuhan Iron & Steel Co. agreed to form a venture in China’s Wuhan city to make tin plate for food and beverage cans, Nippon Steel said in a statement. The companies will invest 24 billion yen in the 50:50 venture, which will start production in mid- 2013. Nippon Steel slipped 0.4 percent to 252 yen.

NTT Data Corp. (9613) (9613 JT): The network-services company may acquire Value Team SpA (4181773Z IM) for 250 million euros, the Nikkei newspaper reported. NTT Data was little changed at 250,000 yen.

Panasonic Corp. (6752) (6752 JT): The electronic products maker will spend 10 billion yen to build a lithium-ion battery plant in China next year, Japanese broadcaster NHK reported on April 23. The stock was unchanged at 993 yen.

Sapporo Hokuyo Holdings Inc. (8328) (8328 JT): The regional bank had 12.3 billion yen net income for the year ended March 31, missing its forecast by 39 percent, according to a preliminary earnings statement. The stock lost 0.6 percent to 358 yen.

Sumco Corp. (3436) (3436 JT): The maker of silicon wafers for semiconductors said production scale will by May recover to the level before the March 11 earthquake. The stock slid 0.3 percent to 1,599 yen.

Tokyo Electric Power Co. (9501 JT): The utility said 30 workers have been exposed to radiation amounting to 100 millisieverts or more at its Fukushima Dai-Ichi nuclear power plant. The stock fell 4.5 percent to 404 yen.

Toyo Suisan Kaisha Ltd. (2875) (2875 JT): The seafood company’s full-year net income fell more than expected to 12.3 billion yen, from 18.5 billion yen a year earlier, according to a preliminary earnings statement. The company had projected profit of 15.8 billion yen. The stock dropped 1.1 percent to 1,796 yen.

Toyota Motor Corp. (7203) (7203 JT): The world’s largest carmaker said it will likely miss its 2011 calendar year production target of 7.7 million vehicles, Executive Vice President Atsushi Niimi said in Tokyo.

Toyota will begin raising production to regular levels from July in Japan and from August at overseas plants, the company said in a statement. Output for all models will be normal by November or December, it said. The stock rose 3.1 percent to 3,295 yen.

Yahoo Japan Corp. (4689) (4689 JT): The operator of Japan’s most- visited Internet portal reported full-year net income increased 10 percent to 92.2 billion yen. The company forecast April-June profit of between 22.2 billion yen and 23.6 billion yen. The stock gained 0.7 percent to 28,470 yen.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; 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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