Japan Tobacco, NEC, Softbank, TonenGeneral: 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.

Air Water Inc. (4088) (4088 JT): The producer of industrial gases reported a 20 percent increase in net income to 5.01 billion yen ($65.3 million) for the April-June period, as demand for industrial gas recovered to pre-earthquake levels after supply chains recovered faster than expected. The stock was unchanged at 891 yen.

Isetan Mitsukoshi Holdings Ltd. (3099) (3099 JT): The department store operator boosted its full-year net income forecast by 83 percent to 33 billion yen, citing deferred tax assets. The company will pay an annual dividend of 10 yen per share this year, up from the previous year’s payout of 7 yen, according to a statement to the Tokyo Stock Exchange. The stock slipped 0.1 percent to 759 yen.

Japan Tobacco Inc. (2914) (2914 JT): Asia’s largest-listed tobacco company by market capitalization said domestic cigarette sales rose 32 percent in July from a year earlier to 68.9 billion yen. Sales volume fell 3 percent, according to a statement to the Tokyo Stock Exchange. The stock declined 1.9 percent to 336,500 yen.

Kansai Electric Power Co. (9503 JT): The utility halted a 400,000 kilowatt generator because of damage to gas turbine blades, Jiji Press reported, citing company officials. The generator will be down for two months and cut the company’s supply capacity to 29.42 million kilowatt per day, below the estimated peak demand of 31.38 million. The stock slid 1.6 percent to 1,319 yen.

Kansai Super Market Ltd. (9919) (9919 JO): The supermarket chain bought a 30 percent stake in Masami Cattle Ranch Inc., based in California, to enable the farm to expand production and supply vegetables to Kansai stores in Japan. The stock rose 0.7 percent to 769 yen.

Matsumotokiyoshi Holdings Co. (3088 JT): The drugstore chain posted 2.17 billion yen in net income for the three months ended June 30, compared with a loss of 525 million yen a year earlier, according to a statement to the Tokyo Stock Exchange. The stock rose 0.2 percent to 1,550 yen.

NEC Corp. (6701) (6701 JT): The computer maker plans to shift production of servers overseas to cut costs as the yen strengthens, the Nikkei newspaper said. The stock fell 1.3 percent to 155 yen.

NKSJ Holdings Inc. (8630) (8630 JT): The non-life insurer said net income fell 10 percent to 12 billion yen in the April-June period while revenue rose 11 percent during the period. The stock gained 0.6 percent to 480 yen.

Osaka Securities Exchange Co. (8697 JQ): Tokyo Stock Exchange Inc. is close to reaching a takeover agreement with the rival bourse, the Yomiuri newspaper reported. The two exchanges denied the report. The stock rose 1.1 percent to 378,000 yen.

Radishbo-ya Co. (3146 JQ), Lawson Inc. (2651) (2651 JT): The health-food delivery company and the convenience store operator will set up a venture to produce and sell products including fresh food, processed food and convenience goods, according to a statement to the Tokyo Stock Exchange. Radishbo-ya increased 0.8 percent to 720 yen. Lawson gained 0.7 percent to 4,270 yen.

SxL Corp. (1919) (1919 JT): Yamada Denki Co. (9831 JT), an electronics retailer, plans to buy as much as 58.96 percent of SxL, a homebuilder, and make it a subsidiary, according to a statement to the Tokyo Stock Exchange. Yamada offered up to 5.27 billion yen for SxL shares, or 62 yen apiece. SxL gained 1.8 percent to 58 yen. Yamada Denki advanced 1.3 percent to 5,690 yen.

Softbank Corp. (9984) (9984 JT): Yahoo! Inc. (YHOO US) said it completed a framework agreement with Alibaba Group Holding Ltd. (ALIBABZ CH) and Softbank related to Alipay.com, according to a filing with the U.S. Securities and Exchange Commission. Softbank slipped 1.3 percent to 2,705 yen.

Sony Financial Holdings Inc. (8729) (8729 JT): Net income at the insurance and banking arm of Sony Corp. (6758) (6758 JT) rose 4.9 percent to 10.9 billion yen with a 6.8 percent gain in revenue in the three months ended June 30, according to a statement to the Tokyo Stock Exchange. Sony Financial slid 0.6 percent to 1,249 yen. Sony retreated 2 percent to 1,630 yen.

Tokyo Electric Power Co. (9501 JT): The power company, along with Tohoku Electric Power Co. (9506 JT), Kyushu Electric Power Co. (9508 JT) and seven other Japanese power companies increased spending on fuels by 1 trillion yen ($13 billion) in the three months ended June 30, as they increased thermal generation to offset closures of nuclear plants, NHK reported. Tepco fell 0.9 percent, Tohoku declined 1.5 percent to 1,011 yen and Kyushu dropped 1.9 percent to 1,221 yen.

Toshiba Corp. (6502) (6502 JT): The world’s second-largest maker of flash memory chips plans to reduce the types of semiconductors used in autos and electronics by half from as many as 6,000 this fiscal year to boost efficiency in development and production, the Nikkei newspaper said. The stock fell 2 percent to 336 yen.

TonenGeneral Sekiyu K.K. (5012 JT): The unit of Exxon Mobil Corp. (XOM) said net income jumped to 129 billion yen in the six months to June 30 from 28.6 billion yen a year earlier, helped by higher prices and changes in an accounting method related to its inventory, according to a statement to the Tokyo Stock Exchange. The stock gained 0.7 percent to 897 yen.

To contact the reporters on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net; Akiko Ikeda in Tokyo at iakiko@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net.

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