Aeon, Aisin Seiki, GS Yuasa, Tomy, Ube: 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.
ABC-Mart Inc. (2670) (2670 JT): The shoe retailer, which had delayed an earnings forecast because of damage from March’s earthquake, projected full-year net income will drop 16 percent to 15.5 billion yen ($191 million). The stock increased 0.5 percent to 3,305 yen.
Aeon Co. (8267 JT): Japan’s biggest supermarket operator raised its net income forecast 25 percent to 50 billion yen for the year started March 1, citing lower than expected charges. The stock gained 0.3 percent to 977 yen.
Aeon Delight Co. (9787 JT): The building-maintenance company reported a 25 percent gain net income to 1.7 billion yen in the first quarter as sales jumped. Sales from Certo Corp., an office supply company that Aeon Delight bought last year, contributed to the result, according to a release to the Tokyo Stock Exchange. The stock slid 0.8 percent to 1,650 yen.
Aisin Seiki Co. (7259 JT): A parts supplier to Toyota Motor Corp. (7203) (7203 JT) projected 50 billion yen in net income for the year ending March 31, down 28 percent from a year earlier. The company had delayed earnings forecast because of damage from March’s earthquake. Aisin Seiki gained 2.1 percent to 3,165 yen. Toyota advanced 1 percent to 3,425 yen.
Daiei Inc. (8263) (8263 JT): The supermarket operator booked a net loss of 9.51 billion yen in the three months through May 31, compared with a profit of 250 million yen a year earlier. It cited costs to restore its stores and charges related to damage caused by the earthquake disaster in March. The stock fell 1.3 percent to 296 yen.
GS Yuasa Corp. (6674) (6674 JT): a subsidiary of the company will supply lithium-ion batteries for the new model of Mitsubishi Motors Corp. (7211)’s (7211 JT) i-Miev electric cars, according to a statement on GS Yuasa’s website that didn’t disclose financial terms. GS Yuasa advanced 1.1 percent to 542 yen. Mitsubishi Motors climbed 2 percent to 101 yen.
Hitachi Cable Ltd. (5812) (5812 JT): The company received a European Union antitrust complaint as part of a price-fixing probe for manufacturers of undersea and underground power cables, the company said in an e-mailed response to questions. The stock gained 1.5 percent to 204 yen.
Kansai Electric Power Co. (9503 JT): The utility, which generates 43 percent of its power using nuclear plants, plans to raise as much as 50 billion yen this month in a bond sale, according to three people with direct knowledge of the plan. The stock retreated 2.8 percent to 1,585 yen.
Kyushu Electric Power Co. (9508 JT): An affiliate of the utility with nuclear reactors shut for maintenance in Saga prefecture asked staff members to send comments supporting a restart of the utility’s nuclear reactors to an Internet- broadcast show hosted by Japan’s Ministry of Economy Trade and Industry, Kyodo News reported, citing President Toshio Manabe, who spoke to reporters in Fukuoka, southwestern Japan. The stock declined 2.3 percent to 1,459 yen.
Parco Co. (8251 JT): Net income dropped 39 percent to 631 billion yen in the three months through May 31 as sales fell, the shopping center operator said in a statement to the Tokyo Stock Exchange. It said charges because of the earthquake disaster in March hurt its profit. The stock gained 0.2 percent to 671 yen.
Tomy Co. (7867 JT): The toymaker will start selling its toys at about 1,500 stores of Boshiwa International Holding Ltd. (1698) (1698 HK), a Chinese clothing retailer, the Nikkei newspaper reported without saying where it obtained the information. Tomy aims to boost sales in China fivefold to 10 billion yen in four years, according to the report. Tomy rose 1.7 percent to 708 yen.
Toray Industries Inc. (3402) (3402 JT): Operating profit at the textile maker jumped 54 percent to about 25 billion yen for the April-June period from a year earlier, helped by increased sales of chemical fiber, the Nikkei newspaper reported without citing anyone. The stock advanced 2.6 percent to 604 yen.
Ube Industries Ltd. (4208 JT): The chemical products maker said on its website it will set up a joint venture with Dow Chemical Co. (DOW) to produce electrolysis solution for lithium-ion batteries in Michigan, where Dow is based. Ube Industries climbed 2.8 percent to 261 yen.
To contact the reporter on this story: Akiko Ikeda in Tokyo at firstname.lastname@example.org.
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