Benesse, Glory, Mitsui, Panasonic, Tepco: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading on May 23. 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.

Benesse Holdings Inc. (9783) (9783 JO): The educational-services provider expects a 13 percent drop in net income to 18 billion yen ($220 million) this fiscal year. Benesse also said it will spend as much as 10 billion yen to buy back up to 2.8 percent of its shares. The stock gained 0.9 percent to 3,300 yen.

Geo Corp. (2681) (2681 JT): The operator of DVD and CD sale and rental outlets forecast operating profit will rise 10 percent to 15.5 billion yen this fiscal year. The stock advanced 1.1 percent to 92,800 yen.

Glory Ltd. (6457) (6457 JO): The maker of vending machines forecast net income will rise to 6.5 billion yen this fiscal year from 6.23 billion yen a year earlier. The stock slipped 0.8 percent to 1,721 yen.

Growell Holdings Co. (3141 JT): The drugstore chain said it will set up a venture in Shanghai to open outlets in China. The stock rose 0.3 percent to 2,057 yen.

Mitsui & Co. (8031 JT): BP Plc (BP LN) said a unit of Mitsui, one of its partners in the Macondo well, will pay $1 billion to the London-based oil company relate to a settlement over last year’s Gulf of Mexico spill. Mitsui fell 1.7 percent to 1,345 yen.

Nippon Signal Co. (6741 JT): The maker of traffic signals said full-year net income fell 20 percent to 2.64 billion yen. The company expects a 14 percent rise in net income to 3 billion yen this fiscal year. The stock rose 0.5 percent to 602 yen.

Panasonic Corp. (6752) (6752 JT): The world’s largest maker of plasma televisions said the impact this year from continued supply-chain disruptions from Japan’s record quake will be “extremely severe.” The stock lost 0.6 percent to 944 yen.

Sharp Corp. (6753 JT): Japan’s largest maker of liquid- crystal displays plans to more than double domestic sales of smartphones to 5 million handsets in the year ending March 31, the Nikkei newspaper reported. The stock slid 0.3 percent to 726 yen.

Softbank Corp. (9984) (9984 JT): The wireless operator may invest 80 billion yen in solar power generation plants, the Sankei newspaper said, without saying where it got the information. The shares rose 0.8 percent to 3,045 yen.

Sony Financial Holdings Inc. (8729) (8729 JT): The insurance and banking arm of Sony Corp. (6758) (6758 JT) forecast net income will fall 31 percent to 29 billion yen this fiscal year. Sony Financial retreated 1.5 percent to 1,426 yen. Sony rose 0.3 percent to 2,221 yen.

Tobu Railway Co. (9001 JT): The railway company said it expects net income to fall 37 percent to 8.2 billion yen this fiscal year. The stock dropped 0.6 percent to 310 yen.

Tokyo Electric Power Co. (9501 JT): The utility, known as Tepco, reported a full-year net loss of 1.25 trillion yen following the Fukushima nuclear accident. President Masataka Shimizu will resign. Tepco will book a 1.1 trillion yen charge for the nuclear crisis and plans to raise 600 billion from selling assets. Also, Tepco said it will decommission four reactors at its Fukushima Dai-Ichi nuclear plant, and suspended plans to build two additional reactors. The stock leapt 2.5 percent to 367 yen.

Tokyo Individualized Educational Institute Inc. (4745) (4745 JT): The cram school operator will retire 7.77 percent of its outstanding shares on May 31. The company also said it expects net income to fall 21 percent to 125 million yen this fiscal year. The stock declined 1.2 percent to 162 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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