Access, JFE, Mizuho, Nisshinbo, Park24: Japan Equity Preview

The following companies may have unusual price changes in Japanese trading today. 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.

Access Co. (4813 JT): The developer of browser software booked a net loss of 1.02 billion yen ($12.5 million) for the three months ended April 30, compared with a profit of 917 million yen a year earlier, as sales plunged. The stock dropped 0.6 percent to 62,900 yen.

Itoham Foods Inc. (2284) (2284 JT): The producer of processed meat said it ended an alliance with Ajinomoto Co. (2802 JT), Japan’s biggest maker of seasonings, on May 31. Itoham rose 3 percent to 314 yen. Ajinomoto climbed 2.6 percent to 937 yen.

JFE Holdings Inc. (5411) (5411 JT): JFE Bars & Shapes Corp., JFE Holdings’ fully owned steelmaking unit, will resume operations at its Sendai plant in July and expects to bring production back to pre-quake levels in October, JFE Steel said in a statement. JFE Holdings will also close a plant in Sendai owned by its Tohoku Steel unit. The stock rallied 1.4 percent to 2,030 yen.

JX Holdings Inc. (5020) (5020 JT): Japan’s biggest refiner said one if its unit discovered an oil field off Australia’s coast.

JX Nippon Oil & Energy Corp., Japan’s largest refiner owned by JX Holdings, plans to process 4.25 million kiloliters of crude oil in June, 11 percent less than a year earlier, after the March 11 earthquake closed two refineries, Kiyoshi Hanaya, general manager for the fuel retail sales division, told reporters in Tokyo. The stock climbed 3.7 percent to 534 yen.

Mitsubishi Chemical Holdings Corp. (4188) (4188 JT): The chemical products maker said its unit, Mitsubishi Rayon Co. (3404 JP), reached an agreement with Saudi Basic Industries Corp. to set up a venture to produce methyl methacrylate and acrylic material in Saudi Arabia. Mitsubishi Chemical jumped 4.8 percent to 565 yen.

Mitsubishi Estate Co. (8802 JT): Japan’s biggest developer by market value will spend between 600 billion yen and 700 billion yen over three years on new buildings in Japan and abroad, and redevelopment in central Tokyo, the Nikkei newspaper said. The stock climbed 2.1 percent to 1,447 yen.

Mizuho Financial Group Inc. (8411) (8411 JT): Japan’s third- largest bank by market value was ordered by the government regulator to improve operations after a computer system failure delayed transactions. The stock rose 1.6 percent to 128 yen.

Nippon Parking Development Co. (2353 JT): The parking-lot services company cut its operating profit forecast for the year ending July 31 by 13 percent to 1.53 billion yen, citing a decline in revenue after the earthquake disaster in March and hiring costs. The company said it will spend as much as 200 million yen to buy back up to 1.6 percent of its outstanding shares. The stock advanced 1.4 percent to 3,745 yen.

Nisshinbo Holdings Inc. (3105) (3105 JT), Japan Radio Co. (6751 JT): Nisshinbo, a textile maker said it will spend as much as 2.58 billion yen to repurchase up to 1.9 percent of its outstanding shares from Japan Radio.

Japan Radio, a radio communication equipment maker, boosted full-year net income forecast by 35 percent to 3.5 billion yen, citing a sale of shares in Nisshinbo. Nisshinbo gained 1.6 percent to 758 yen. Japan Radio lost 2 percent to 197 yen.

Pacific Industrial Co. (7250 JT): The car-parts maker, which had delayed its earnings forecast following March’s earthquake disaster, projected it will have 1.6 billion yen in net income for the year ending in March 2012, compared with a 2.97 billion yen profit a year earlier. The stock increased 0.5 percent to 378 yen.

Park24 Co. (4666 JT): The parking-lot operator cut its net income forecast for the year ending Oct. 31 by 24 percent to 5.2 billion yen, as it halted operation at some parking lots and providing rental car services after the March earthquake disaster. The stock increased 0.6 percent to 791 yen.

Sony Corp. (6758) (6758 JT): Japan’s largest electronics exporter is planning to cut in half this fiscal year a 75 billion yen operating loss from its television operations last year, the Nikkei newspaper reported, citing an interview with Chief Financial Officer Masaru Kato. The stock rose 1.9 percent to 2,163 yen.

Sumitomo Light Metal Industries Ltd. (5738) (5738 JT): The maker of aluminum products will sell shares for 77 yen each to raise as much as 10.9 billion yen, according to a filing with Japan’s finance ministry. The stock was unchanged at 80 yen.

Toridoll Corp. (3397 JT): The restaurant operator said it will conduct a 200-for-1 stock split and change its minimum trading unit to 100 shares. The stock rose 1.8 percent to 99,000 yen.

Toyota Motor Corp. (7203 JT): The world’s largest carmaker’s global production for the current fiscal year is expected to be little changed from 7.16 million vehicles last year, the Nikkei newspaper reported. The stock increased 2.1 percent to 3,400 yen.

TSI Holdings Co. (3608 JT): The maker of men’s and women’s clothing will be listed on the Tokyo Stock Exchange’s first section on June 1.

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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