Fujifilm, Hitachi, Nissan, Panasonic: 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.

Advantest Corp. (6857) (6857 JT): The world’s biggest maker of memory-chip testers said net income fell 56 percent to 346 million yen ($4.5 million) in the three months ended June 30, while sales increased 14 percent. The stock dropped 0.5 percent to 1,504 yen.

Central Japan Railway Co. (9022) (9022 JT): The operator of the country’s busiest high-speed train boosted its full-year net income forecast 90 percent to 114 billion yen. The company posted a 21 percent drop in profit to 37 billion yen for the three months to June 30 as demand for travel slumped after the earthquake disaster in March, the company said in a statement. The stock slid 0.2 percent to 674,000 yen.

Chugoku Electric Power Co. (9504 JT): The utility said it will have a 4 billion yen net loss in the six months ending Sept. 30, compared with a profit of 1.2 billion yen a year earlier. The stock retreated 3.2 percent to 1,305 yen.

Fujifilm Holdings Corp. (4901) (4901 JT): The maker of color film and digital mammography system will set up a joint venture with Dr. Reddy’s Laboratories Ltd. (DRRD IN), India’s second-largest maker of generic drugs, to develop generic drugs in Japan, the Nikkei newspaper reported without saying where it obtained the information. Fujifilm lost 1 percent to 2,382 yen.

Heiwa Real Estate Co. (8803 JT): Net income at the developer increased 34 percent to 579 million yen, compared with a year earlier. The stock declined 1.6 percent to 185 yen.

Hitachi Ltd. (6501) (6501 JT): The maker of products from electronics to nuclear reactors will likely post about 50 billion yen in operating profit for the April-June period, the Nikkei newspaper reported without citing anyone. That’s about 60 percent of the company’s target for the first-half period as demand for construction machinery and home appliances was strong in emerging countries, according to the report. The stock slid 0.2 percent to 480 yen.

Hitachi Construction Machinery Co. (6305 JT): The machinery maker boosted its forecast for net income to 3.8 billion yen from 1.5 billion yen for the six months ending Sept. 30, citing higher sales of parts and cost reductions. The stock dipped 0.4 percent to 1,681 yen.

Hitachi High-Technologies Corp. (8036) (8036 JT): The trading company raised its net-income outlook by 39 percent to 5 billion yen for the six months to Sept. 30, citing an increase in investment by clients and the release of new mobile-phone models in the U.S. The stock declined 2.3 percent to 1,740 yen.

Kyushu Electric Power Co. (9508 JT): The utility posted a 8.21 billion yen net loss for the April-June period, wider than a 6.51 billion yen loss a year earlier, according to a statement to the Tokyo Stock Exchange. Prolonged shutdowns of nuclear reactors after March’s earthquake caused fuel costs for operating thermal plants to increase, it said in the statement.

The company’s president and chairman will forgo salaries from August after the company was reprimanded by Japan’s trade ministry for attempting to influence public opinion on nuclear power, according to a separate statement. The stock retreated 3.3 percent to 1,274 yen.

Mitsubishi Motors Corp. (7211) (7211 JT): The automaker will likely post an operating profit of more than 10 billion yen for the April-June period, compared with a loss of 4.4 billion yen for a year earlier, the Nikkei newspaper reported without citing anyone. The stock dropped 1.9 percent to 103 yen.

NTN Corp. (6472) (6472 JT): The bearing maker’s net income fell 49 percent to 2.05 billion yen in the three months ended June 30, hurt by charges related to damage caused by the earthquake and restructuring costs. The company forecast full-year profit will rise 22 percent on higher sales.

Separately, NTN said it spend a total of 526 million yen, offering 100 yen per share, to buy smaller rival Nippon Kagaku Yakin Co. NTN was unchanged at 467 yen and Nippon Kagaku Yakin was unchanged at 70 yen.

Nipro Corp. (8086) (8086 JT): The medical-products maker said it bought a glass business from Amcor Ltd. (AMC AU), an Australian maker of packaging materials, for $160.9 million. Nipro also said in separate statements that it will establish a joint venture to make and sell glass packages for medical products in Russia and that it’s started a venture in India. Nipro dropped 0.8 percent to 1,455 yen.

Nissan Motor Co. (7201 JT): The carmaker said net income fell 20 percent to 85 billion yen in the quarter ended June 30 from a year earlier. That exceeded the 60.9 billion yen average estimate of six analysts compiled by Bloomberg. The stock sank 1.9 percent to 848 yen.

Panasonic Corp. (6752) (6752 JT): The electronics maker will sell washing-machine and refrigerator operations run by subsidiary Sanyo Electric Co. (6764 JP) in Japan and Southeast Asia to Haier Group Corp. (HRGCZ CH) for about 10 billion yen, the Nikkei newspaper reported without citing anyone. Panasonic slid 0.1 percent to 924 yen.

Sony Corp. (6758) (6758 JT): The company will start online retail banking services in Australia as early as fiscal 2012, the Nikkei newspaper reported without saying where it got the information. The stock retreated 1.4 percent to 2,036 yen.

Toyota Motor Corp. (7203) (7203 JT): The world’s largest automaker will increase its auto production capacity in India to 310,000 in 2013, up from 160,000 now, the company said. The stock sank 1.2 percent to 3,255 yen.

West Japan Railway Co. (9021) (9021 JT): Japan’s third-largest rail operator by market value raised its net income forecast 22 percent to 30.5 billion yen for the year ending March 31, citing saying revenue from it bullet train operations will be better than expected. The company posted a 26 percent drop in profit for the April-June period. The stock fell 0.7 percent to 3,375 yen.

Yamato Holdings Co. (9064 JT): Operating profit at the parcel-delivery company probably increased 70 percent to about 7 billion yen for the April-June period, as the delivery business recovered from a slump after March’s earthquake, the Nikkei newspaper reported without citing anyone. The stock dropped 0.7 percent to 1,337 yen.

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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