Honda, Mitsubishi UFJ, Takeda, Tepco: 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.

Honda Motor Co. (7267 JT): The carmaker’s Brazil unit laid off 400 workers at its Sumare plant and will reduce output there by half due to a shortage of electronic parts from Japan. The lay-offs equate to 12 percent of staff at the unit. The plant will cut daily output to 300 units from 600 and reduce its three shifts to two starting in June, Honda said in an e-mailed statement. The stock fell 0.3 percent to 3,080 yen.

Medius Holdings Co. (3154 JQ): The medical equipment wholesaler will conduct a 3-for-1 stock split. The company also plans to buy back 2.04 percent of its outstanding shares. The stock was unchanged at 3,205 yen.

Mitsubishi UFJ Financial Group Inc. (8306) (8306 JT), Mizuho Financial Group Inc. (8411) (8411 JT): South Korea will investigate the local operations of Bank of Tokyo-Mitsubishi UFJ Ltd. and Mizuho Financial Group over currency derivatives, Yonhap Infomax reported. Mitsubishi UFJ slid 2.1 percent to 378 yen. Mizuho slipped 1.5 percent to 129 yen.

Mizuno Corp. (8022) (8022 JT): The sporting-goods maker said full- year net income jumped 77 percent to 2.84 billion yen ($35 million). It expects a 12 percent drop in net income to 2.5 billion yen this fiscal year. The stock fell 0.3 percent to 352 yen.

NKSJ Holdings Inc. (8630) (8630 JT): Japan’s third-biggest non- life insurer reported a net loss of 12.9 billion yen for the year ended March 31. The company also plans a 1-for-4 reverse stock split. The stock rose 1 percent to 510 yen.

MS&AD Insurance Group Holdings (8725) Inc. (8725 JT): Japan’s biggest non-life insurer said full-year net income plunged 86 percent to 5.42 billion yen. MS&AD expects insurance payouts of about 62.6 billion yen from the March 11 disaster. The stock advanced 1.3 percent to 1,917 yen.

Noritsu Koki Co. (7744 JO): The maker of photo-processing systems said it expects to return to profit of 50 million yen this fiscal year on lower costs. The company forecast sales will fall 32 percent. The stock was unchanged at 463 yen.

Renown Inc. (3606) (3606 JT): The apparel maker said it expects a first-half net loss of 2.9 billion yen, citing the impact of the March 11 disasters. The stock lost 1.9 percent to 155 yen.

Resona Holdings Inc. (8308) (8308 JT): The lender will consider reorganization once it has repaid public funds, the Nikkei newspaper reported, citing comments from an interview with Chairman Eiji Hosoya. The stock lost 1.6 percent to 369 yen.

Shikoku Electric Power Co. (9507 JT): The utility plans to buy back as much as 2.4 percent of its outstanding shares for up to 12 billion yen in the year starting June 29. The stock tumbled 5 percent to 1,721 yen.

Sumitomo Light Metal Industries Ltd. (5738) (5738 JT): The aluminum maker plans to raise as much as 12.8 billion yen by selling shares to the public, according to a filing with Japan’s finance ministry. The stock lost 1 percent to 96 yen.

Suruga Bank Ltd. (8358) (8358 JT): The regional bank said its board approved as much as 4 billion yen to repurchase up to 2.55 percent of its total shares through Sept. 22. The stock rose 0.2 percent to 656 yen.

Takeda Pharmaceutical Co. (4502 JT): Asia’s largest drugmaker agreed to buy closely held Nycomed for 9.6 billion euros ($13.7 billion), the largest takeover by a Japanese drugmaker, broadening its reach in emerging markets and adding a remedy for smokers’ cough to its portfolio. Takeda gained 0.5 percent to 3,790 yen.

T&D Holdings Inc. (8795) (8795 JT): Japan’s largest publicly traded life insurer said it expects a 51 percent gain in net income to 36 billion yen this fiscal year. The stock advanced 0.5 percent to 1,900 yen.

Tokyo Electric Power Co. (9501 JT): The utility known as Tepco will report a full-year net loss of about 1.2 trillion yen, including a 1 trillion yen charge related to the nuclear crisis at its Dai-Ichi plant, Japanese public broadcaster NHK reported. It would be a record loss for the utility, the report said. The stock plunged 8 percent to 358 yen.

Toyota Motor Corp. (7203) (7203 JT): The automaker plans to add 10 to 15 work days to increase production by 150,000 vehicles, the Nikkei newspaper reported. Separately, Toyota will resume producing at normal levels in Malaysia on May 23, earlier than expected as parts supply recovered, Kyodo News reported, citing the automaker. The stock slid 0.3 percent to 3,300 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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