Inpex, Mizuho, Sony, Toshiba, 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 as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Dydo Drinco Inc. (2590) (2590 JT): The beverage maker swung to a net loss of 524 million yen ($6.4 million) for the quarter through April 20, compared with a profit of 447 million yen a year earlier. The shares declined 0.3 percent to 3,060 yen.
Inpex Corp. (1605 JT): The oil and gas company will build a natural gas pipeline between Niigata and Toyama prefectures in northern Japan to begin operations in late 2014. The shares were unchanged at 532,000 yen.
Mizuho Financial Group Inc. (8411) (8411 JT): The lender will cut the pay of about 100 executives following a computer system failure in March, the Yomiuri newspaper reported, without saying where it got the information. The stock fell 1.6 percent to 126 yen.
Nippon Sheet Glass Co. (5202 JT): The glassmaker said it will spend $320 million in Vietnam to expand production of glass used for touch-screen panels and for solar-energy equipment. The stock climbed 0.4 percent to 252 yen.
Sony Corp. (6758) (6758 JT): Japan’s No. 1 electronics exporter estimates the March 11 earthquake’s fallout will dent operating profit by 150 billion yen this fiscal year after eroding it by 17 billion yen the previous year, the company said in a statement. Also, Sony, which reported a full-year net loss of 260 billion yen for the past fiscal year, compared to analysts’ estimates of a 76 billion yen profit. The company said it expects to turn to profit in fiscal 2011. The stock slid 0.5 percent to 2,211 yen.
Sparx Group Co. (8739 JQ): Asia’s second-biggest hedge fund aims to return to profit and resume dividend payments this year as it accelerates efforts to expand in Asia through acquired units in South Korea and Hong Kong, Chief Executive Officer Shuhei Abe said. The stock retreated 0.9 percent to 7,830 yen.
Sumitomo Warehouse Co. (9303 JT): The warehouse and freight transport operator said it would buy Westwood Shipping Lines Inc. from Weyerhaeuser Co. (WY) . Sumitomo Warehouse slid 0.3 percent to 355 yen.
Toshiba Corp. (6502) (6502 JT): The electronics maker plans to spend about 700 billion yen on environment and energy investments over three years, the Nikkei newspaper reported. Also, Toshiba plans to enter the wind power business after it agreed to acquire 40 billion won ($36 million) of convertible bonds in South Korea’s Unison Co., according to a website statement. The stock slumped 2.8 percent to 423 yen.
Toyota Motor Corp. (7203) (7203 JT): The automaker and Salesforce.com Inc. will build a private social network for customers who will own electric cars and plug-in hybrid vehicles being introduced by the Japanese carmaker next year. Toyota will invest 442 million yen and Salesforce.com will spend 223 million yen, the companies said at a press conference before markets closed in Tokyo. Toyota’s stock slipped 0.6 percent to 3,260 yen.
United Urban Investment Corp. (8960) (8960 JT): The real estate investment trust, plans to raise as much as 62.8 billion yen by selling shares to the public. The company said it also plans to acquire four properties in Tokyo and surrounding prefectures for 20.8 billion yen in June. The stock slipped 0.2 percent to 94,900 yen.
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