JAPAN DAYBOOK: Governing Party Leadership Election

The governing Democratic Party of Japan will choose Naoto Kan’s successor as prime minister.

WHAT TO WATCH *Democratic Party of Japan to elect new leader, who will succeed Naoto Kan as prime minister

ECONOMY *Vice Finance Minister regular briefing, time not set

GOVERNMENT *11am DPJ leadership election begins *11am, 4pm Chief Cabinet Secretary Edano briefings *11am Tepco daily briefing *4:30pm Tepco joint briefing with nuclear crisis management minister Hosono

CORPORATE EVENTS *2:30pm Daiwa Securities (8601 JT) joint press conference with Taiwanese authorities on promotion on investing in Taiwan

EQUITY MOVERS *DA Consortium (4281 JX): Plans to buy back ~7.61% of outstanding shrs *Dydo Drinco (2590 JT): Q1 net income rises 23% to 744m yen on lower fixed costs; forecast full-year net income to fall 13% to 2.35b yen *JX Holdings (5020 JT): Will start selling printing-ink ingredients as supply is tight, Nikkei reports *Misumi Group (9962 JT): July sales rose 1.6% y/y to 10.8b yen *Mitsui OSK (9104 JT): Co. expects one-time charges of about 7b yen this fiscal year on losses on ship sales and costs related to canceled ship charters, Nikkei reports *NTN (6472 JT): Co. to invest 15b yen to make bearings in Nanjing, China *Obara (6877 JT): Co. doubles 2nd-half dividend to 20 yen/shr *Parking Management Organization (3251 JT): To conduct 100- for-1 stock split, adopt mimimum trading unit of 100 shrs *Riso Kagaku (6413 JT): To buy back ~2.04% of outstanding shrs *Softbank (9984 JT): To book one-time gain of 76.4b yen this fiscal year after selling Yahoo! shares to Citigroup unit to pay back 2004 loan *Tokyo Electric (9501 JT): Asked govt for permission to raise power tariffs at least 10%, Yomiuri reports; Co. said in a statement that report is inaccurate

To contact the editor responsible for this story: Kyung Bok Cho at kcho7@bloomberg.net