Fancl, Kansai Electric, Seven & I, Sony: 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.

Canon Electronics Inc. (7739) (7739 JT): a unit of Canon Inc. that makes magnetic heads and scanners said net income fell 19 percent to 2.9 billion yen ($37 million) in the six months ended June 30 as sales dropped by 11 percent. The stock rose 0.7 percent to 2,190 yen.

Daito Trust Construct Co. (1878 JT): The developer raised its first-half net income projection 32 percent to 21.5 billion yen after the government shortened the period of a home building subsidy, pushing forward constructions start. The stock rose 0.1 percent to 7,230 yen.

Fancl Corp. (4921) (4921 JT): The maker of cosmetics and nutritional supplements said sales dropped 8.3 percent to 7.81 billion yen in June from a year earlier. The stock rose 0.2 percent to 1,108 yen.

Ferrotec Corp. (6890) (6890 JQ): The maker of quartzware for semiconductor and other industrial applications will sell shares to the public for 1,591 yen each to raise as much as 6.63 billion yen, according to a filing with Japan’s finance ministry. The stock advanced 2 percent to 1,641 yen.

Fujifilm Holdings Corp. (4901) (4901 JT): The maker of cameras and film processing equipment is targeting an 83 percent gain in operating profit in the next three years to about 250 billion yen in the 12 months ending March 2014, the Nikkei newspaper reported. Sales of digital cameras and office equipment in emerging markets will fuel growth, the Nikkei said. The stock climbed 1 percent to 2,430 yen.

Kansai Electric Power Co. (9503 JT): The Japanese government will ask the utility’s customers to cut electricity use by more than 10 percent after the utility halted one of its nuclear reactors, Deputy Chief Cabinet Secretary Tetsuro Fukuyama said. Also, Kansai Electric plans to ask other Japanese power utilities, including Tokyo Electric Power Co. (9501 JT), to supply electricity in the event of a possible power outage, Kyodo News reported, citing President Makoto Yagi. Kansai Electric leapt 3.5 percent to 1,441 yen. Tokyo Electric jumped 6.3 percent to 509 yen.

Kinki Nippon Tourist Co. (9726 JT): The travel agency said it expects operating profit will plunge 76 percent to 400 million yen this year on a 13 percent drop in sales. The stock slid 0.9 percent to 111 yen.

Kyowa Hakko Kirin Co. (4151 JT): The drugmaker majority owned by Kirin Holdings Co. boosted its full-year operating profit outlook 18 percent to 43.5 billion yen on higher-than- expected sales. The stock advanced 1.8 percent to 850 yen.

Morpho Inc. (3653 JT): The developer of image processing technologies will start trading on the Tokyo Stock Exchange’s Mothers market on July 21. The initial offering price was 2,250 yen per share, according to a statement from the company.

NOK Corp. (7240) (7240 JT): The maker of oil seals and rubber products forecast net income will rise 33 percent to 22.1 billion yen this fiscal year. The stock advanced 0.7 percent to 1,344 yen.

Proje Holdings Co. (3114 JO): Stellar Group Co. (8206 JP) plans to pay as much as 420 million yen ($5.3 million) to buy out Proje and plans to offer 30 yen per share to acquire the remaining stake in the real estate operator, according to a statement from Proje. Proje gained 4.8 percent to 22 yen.

Seven & I Holding Co. (3382 JT): The retailer’s Ito-Yokado unit said beef from cows contaminated by radiation was sold at three more stores in Tokyo, Chiba and Kanagawa prefectures. The supermarket operator said on July 18 it sold the beef at two stores in Chiba. Seven & I rose 0.2 percent to 2,268 yen.

Sony Corp. (6758) (6758 JT): Zurich American Insurance Co. sued Sony’s U.S. unit to assert it doesn’t have an obligation to defend lawsuits and possible probes related to the hacking of Sony’s PlayStation Network. Sony rose 0.2 percent to 2,093 yen.

Union Tool Co. (6278) (6278 JT): The maker of drill bits said it will buy back up to 2.29 percent of its outstanding shares. The stock climbed 1 percent to 1,642 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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