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Bridgestone, Dai-Ichi Life, Mizuho: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading on May 16. 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.

Alps Electric Co. (6770 JT): The electronic components maker said it had 11.1 billion yen ($137 million) net income for the year ended March 31, short of its forecast by 23 percent because of a charge related to Japan’s March 11 natural disasters. The company forecast profit will increase 7.8 percent to 12 billion yen this fiscal year. The stock declined 2.6 percent to 788 yen.

Bank of Yokohama Ltd. (8332) (8332 JT): The regional bank reported a 52 percent jump in full-year net income to 47.1 billion yen, and forecast profit will rise 1.9 percent to 48 billion yen this fiscal year. The stock slid 0.5 percent to 396 yen.

Bridgestone Corp. (5108) (5108 JT): The world’s biggest tiremaker raised its net income forecast for the year ending Dec. 31 by 15 percent to 94 billion yen, citing higher overseas prices. The stock slipped 0.4 percent to 1,825 yen.

Chiba Bank Ltd. (8331) (8331 JT): The regional bank said it will probably have a 2.1 percent increase in net income to 41.5 billion yen for the year ending March 2012. The stock fell 1.4 percent to 484 yen.

Credit Saison Co. (8253 JT): The consumer lender’s full- year net income fell 31 percent to 12.8 billion yen, missing its forecast by 22 percent, citing a charge related to the March disasters. The company forecast a 33 percent gain in profit to 17 billion yen for this fiscal year. The stock retreated 2.8 percent to 1,314 yen.

Dai-Ichi Life Insurance Co. (8750 JT): Japan’s second- largest life insurer reported full-year net income of 19.1 billion yen, compared with 55.7 billion yen a year earlier. It forecast profit will jump 93 percent this fiscal year. The stock dropped 3.8 percent to 122,700 yen.

Dai Nippon Printing Co. (7912 JT): The printing company posted 25 billion yen net income for the year ended March 31, short of its forecast by 23 percent. It didn’t offer a profit forecast for this fiscal year, citing difficulty in assessing the effects of the March 11 disasters. The stock dropped 1.7 percent to 955 yen.

Fukuoka Financial Group Inc. (8354) (8354 JT): The lender said it will probably have 27 billion yen net income for the year ending March 2012, up 3.9 percent from a year earlier. The stock fell 1.5 percent to 332 yen.

Fukuyama Transporting Co. (9075 JT): The transportation company said it will buy back up to 1.21 percent of its outstanding shares for as much as 1.5 billion yen. It forecast a 25 percent gain to 10.5 billion yen full-year net income. The stock retreated 2.3 percent to 375 yen.

Marui Group Co. (8252 JT): The department-store operator and consumer lender had a 23.6 billion yen net loss for the year ended March 31, compared with profit of 5.1 billion yen a year earlier. It forecast 8 billion yen profit for the current fiscal year. The stock slid 0.5 percent to 548 yen.

Meidensha Corp. (6508) (6508 JT): The electrical machinery maker projected net income will more than double to 2.5 billion yen in the year ending in March 2012. The stock dropped 2 percent to 342 yen.

Mizuho Financial Group Inc. (8411) (8411 JT): Japan’s third- biggest bank by market value booked 413.2 billion yen net income for the year ended March 31, 17 percent less than its forecast. Profit will rise to 460 billion yen this fiscal year, Mizuho forecast. The stock sank 3 percent to 130 yen.

Mizuho Trust & Banking Co. (8404 JT): The trust bank said full-year net income jumped 65 percent to 24.6 billion yen. The stock was unchanged at 71 yen.

Nippon Meat Packers Inc. (2282) (2282 JT): Japan’s biggest producer of ham and sausage forecast full-year net income will rise 1.6 percent to 17 billion yen. The stock retreated 2 percent to 1,108 yen.

Nippon Soda Co. (4041 JT): The chemicals maker posted 5.55 billion yen full-year net income, short of its forecast by 11 percent. It said profit will probably rise 14 percent to 6.3 billion yen this fiscal year. The stock lost 1.8 percent to 332 yen.

Nippon Telegraph & Telephone Corp. (9432) (9432 JT): Japan’s largest fixed-line phone company said net income will probably rise 6 percent to 540 billion yen in the year ending March 2012. It will pay an annual dividend of 140 yen per share, compared with the previous year’s payout of 120 yen. The company also said it will spend as much as 280 billion yen to repurchase up to 4.53 percent of its outstanding shares. The stock gained 0.3 percent to 3,820 yen.

Obayashi Corp. (1802) (1802 JT): The general contractor said it returned to profit of 15.4 billion yen from a loss of 53.4 billion yen a year earlier. The company forecast profit will increase 30 percent to 20 billion yen this fiscal year. The stock lost 2.6 percent to 341 yen.

Oki Electric Industry Co. (6703 JT): The maker of communications equipment said it swung to a net loss of 27 billion yen in the year ended March 31 from a profit of 3.62 billion yen a year earlier. The company projected it will have a 7.5 billion yen profit this fiscal year. The stock was unchanged at 65 yen.

Resona Holdings Inc. (8308) (8308 JT): The lender’s net income for the year ended March 31 climbed 21 percent to 160 billion yen, exceeding its forecast by 19 percent. It projected profit will drop 6.3 percent to 150 billion yen this fiscal year. The stock sank 1.3 percent to 377 yen.

Shizuoka Bank Ltd. (8355) (8355 JT): The regional bank reported a 10 percent gain to 36.2 billion yen full-year net income, 7.9 percent more than forecast. The company projected profit will increase 2.3 percent to 37 billion yen this fiscal year. The stock dropped 1.1 percent to 742 yen.

Sumitomo Electric Industries Ltd. (5802) (5802 JT): The component and wire maker said full-year net income jumped to 70.6 billion yen from 28.7 billion yen a year earlier, beating its forecast by 18 percent. The company forecast an 8 percent drop in profit to 65 billion yen for this fiscal year. The stock fell 0.9 percent to 1,109 yen.

Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Japan’s second-biggest publicly traded bank forecasts net income will fall to 400 billion yen for the year ending March 2012, from 475.9 billion yen a year earlier. That compares with the median 356 billion yen profit estimate of six analysts surveyed by Bloomberg. The stock lost 3.8 percent to 2,452 yen.

Temp Holdings Co. (2181 JT): The human-resource company said it will offer 0.73 share for each share of Japan Tecseed Co. (2431 JQ), a provider of research and development outsourcing services. Temp Holdings slid 0.8 percent to 719 yen. Japan Tecseed slipped 0.2 percent to 440 yen.

Toyo Seikan Kaisha Ltd. (5901) (5901 JT): The maker of food and drink cans had a 4.38 billion yen net loss for the year ended March 31, compared with profit of 8.32 billion yen a year earlier. The company did not provide a profit forecast for this fiscal year. The stock retreated 2.8 percent to 1,275 yen.

Yokogawa Electric Corp. (6841) (6841 JT): The maker of electronic measuring tools said its full-year loss narrowed to 6.69 billion yen from 14.8 billion yen a year earlier. The company did not provide a profit forecast for this fiscal year, citing difficulty in assessing the effects of the March 11 earthquake. The stock lost 1.2 percent to 649 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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