Elpida, KDDI, Mitsubishi UFJ, Nintendo: Japan Equity Preview

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.

Chubu Electric Power Co. (9502 JT), Shikoku Electric Power Co. (9507 JT) and Electric Power Development Co. (9513 JT): Standard & Poor’s Ratings Services said it revised to negative from stable its outlooks on the long-term corporate credit ratings on Chubu Electric, Shikoku Electric, and Electric Power. Chubu Electric slid 1.4 percent to 1,724 yen. Shikoku Electric fell 0.6 percent to 2,046 yen. Electric Power lost 2 percent to 2,125 yen.

Dai-Ichi Life Insurance Co. (8750 JT): Japan’s second- biggest life insurer said in a preliminary earnings statement net income was 19 billion yen ($231 million) for the year ended March, missing its forecast by 62 percent, as the value of its holdings in domestic equities declined. The stock rose 0.2 percent to 126,800 yen.

Eisai Co. (4523 JT): The drugmaker said the United States Food and Drug Administration issued a complete response letter regarding the new drug application for the Aricept Patch to Teikoku Pharma USA, Inc. The letter indicated the application is not ready for approval, Eisai said. The stock retreated 0.5 percent to 2,918 yen.

Elpida Memory Inc. (6665) (6665 JT): The maker of computer-memory chips has brought its Hiroshima DRAM factory back to full production, after slowing output in November, the Nikkei newspaper reported. The stock slipped 0.8 percent to 1,174 yen.

Hodogaya Chemical Co. (4112 JT) will raise its stake in SFC Co. (SFCZ KS), a South Korean maker of organic electroluminescent materials, to more than 50 percent from 33.8 percent. Hodogaya lost 1 percent to 309 yen.

Kabu.com Securities Co. (8703 JT): The online brokerage’s full-year net income plunged 81 percent to 597 million yen, with a 6.8 percent drop in revenue. The stock slid 0.4 percent to 250 yen.

Kagome Co. (2811 JT): The ketchup maker said full-year net income fell 17 percent to 2.47 billion yen, while operating profit in the period rose 25 percent to 7.98 billion yen. The stock was unchanged at 1,408 yen.

Kappa Create Co. (7421 JT): The operator of a chain of restaurants that serve sushi on conveyer belts may halt the movement of the belts outside peak hours this summer to save electricity, the Sankei newspaper said, citing a company official. The stock gained 1.4 percent to 1,490 yen.

Kirin Holdings Co. (2503 JT): The brewery’s Mercian unit will sell its pharmaceutical business to Mitsui & Co. (8031 JT), Kirin said in a press release. Kirin slipped 0.7 percent to 1,079 yen. Mitsui declined 1 percent to 1,426 yen.

KDDI Corp. (9433) (9433 JT): Japan’s second-largest mobile-phone operator forecast net income will fall 2 percent to 250 billion yen this fiscal year as mounting competition drives down earnings at the main wireless business. The outlook compares with the 247.3 billion yen average of six analyst estimates compiled by Bloomberg. The stock rose 0.6 percent to 513,000 yen.

M3 Inc. (2413) (2413 JT): The medical-information service provider said it expects a 19 percent gain in net income to 4.15 billion yen this fiscal year on an 18 percent advance in sales. The stock jumped 3.6 percent to 523,000 yen.

Meidensha Corp. (6508) (6508 JT): The electrical machinery maker said in a preliminary earnings statement full-year net income was 1.1 billion yen, 27 percent below its 1.5 billion yen outlook, due to a charge from a drop in the value of marketable securities. The stock rose 1.1 percent to 360 yen.

Melco Holdings Inc. (6676) (6676 JT): The maker of computer peripheral equipment said net income advanced 26 percent to 6.28 billion yen in the year ended March 31. The company boosted its planned dividend for the year to 40 yen per share from 20 yen. The stock sank 3.2 percent to 2,370 yen.

Mitsubishi UFJ Financial Group Inc. (8306) (8306 JT): The lender’s securities units long-term ratings were put on review for a downgrade by Moody’s Japan K.K. The stock rose 1.1 percent to 379 yen.

Nidec Corp. (6594) (6594 JO): The world’s biggest maker of motors for hard-disk drives expects a 6.1 percent drop in operating profit to 85 billion yen this fiscal year. The stock increased 2.3 percent to 7,080 yen.

Nintendo Co. (7974 JO): The world’s largest maker of video- game players forecast net income will probably climb 42 percent to 110 billion yen in the year ending March 2012. Also, Nintendo plans to begin selling the next version of the motion-sensing Wii next year. The stock leapt 0.9 percent to 20,330 yen.

Sapporo Holdings Ltd. (2501) (2501 JT): The brewer said it plans to resume partial production at its Sendai brewery in Miyagi prefecture on May 2 after the plant was halted following the March 11 earthquake and tsunami. The stock was unchanged at 327 yen.

SMK Corp. (6798) (6798 JT): The electronic components maker’s full-year net income was 1 billion yen, 57 percent below its forecast, with less-than-expected sales from the stronger yen and an impact from last month’s earthquake, according to a preliminary earnings statement. The company cut its planned second-half dividend to 4 yen from 5 yen. The stock advanced 1.4 percent to 375 yen.

Shionogi & Co. (4507 JT): The drugmaker’s full-year net income totaled 20 billion yen, missing its profit outlook by 33 percent, according to a preliminary earnings statement. The stock retreated 1.2 percent to 1,379 yen.

Sumitomo Metal Industries Ltd. (5405) (5405 JT): Japan’s third- largest steelmaker has restarted all work including its steel sheet mill, at its Kashima steel plant after the March 11 earthquake and tsunami disrupted output, said Kinya Yanagawa, senior managing executive officer of Kashima steelworks. The stock fell 0.6 percent to 170 yen.

Taiyo Nippon Sanso Corp. (4091) (4091 JT): The industrial-gas producer said in a preliminary earnings statement full-year net income amounted to 12.5 billion yen, missing its outlook by 27 percent, citing charges including earthquake-related costs. The stock slid 0.2 percent to 644 yen.

Tokyo Electric Power Co. (9501 JT): Twelve insurance companies and banks that have shares of Tokyo Electric are likely to write down the value their holdings by a combined 400 billion yen for the fiscal year that ended on March 31, the Nikkei newspaper reported. The stock soared 8.4 percent to 438 yen.

Ushio Inc. (6925) (6925 JT), Komatsu Ltd. (6301) (6301 JT): Ushio, a maker of optical equipment, will sell its entire holding in a venture with Komatsu to the Japanese mining machinery maker, ending the collaboration. Ushio slid 0.4 percent to 1,576 yen. Komatsu rose 0.4 percent to 2,785 yen.

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

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net.

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