JR East, Nissan, Sharp, Unicharm, Toyota: 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.

Chemicals producers: Mitsubishi Chemical Holdings Corp. (4188) (4188 JT) and Asahi Kasei Corp. (3407) (3407 JT) were raised to “neutral” from “underperform” by Mizuho Securities Co. Mitsubishi Chemical climbed 3.2 percent to 551 yen. Asahi Kasei increased 2 percent to 516 yen.

East Japan Railway Co. (9020) (9020 JT) and Central Japan Railway Co. (9022) (9022 JT): The companies’ long-term debt ratings were downgraded by Moody’s Japan K.K. because of concerns that an economic slowdown may damp sales and profit growth. East Japan Railway, known as JR East, climbed 0.3 percent to 4,590 yen. Central Japan Railway gained 1.6 percent to 646,000 yen.

Gree Inc. (3632) (3632 JT): The social network operator will set up units to form alliances with local game developers in South Korea, Singapore, Brazil, the U.K. and the Netherlands starting from October. The stock fell 1.6 percent to 2,427 yen.

Isetan Mitsukoshi Holdings Ltd. (3099) (3099 JT): The department- store chain was rated “underweight” in new coverage by JPMorgan Chase & Co., which set a price estimate of 720 yen on the shares. The stock gained 2.2 percent to 792 yen.

Ito En Ltd. (2593) (2593 JT): The beverage maker said net income for the quarter ended July 31 rose 28 percent to 3.38 billion yen. The stock slipped 0.5 percent to 1,391 yen.

Marubeni Corp. (8002) (8002 JT): The trading house will ally with Dong Energy A/S (1001Z DC) and invest about 200 million pounds to take a 49.9 percent stake in its Gunfleet Sands Offshore Wind Farm in the U.K. next month, the Nikkei newspaper reported, without citing anyone. Marubeni advanced 2.5 percent to 493 yen.

Nippon Gas Co. (8174 JT): The gas supplier said it will raise its stake in Australian Power & Gas Co. (APK AU) to about 15 percent from 11 percent. Nippon Gas climbed 0.2 percent to 1,199 yen.

Nissan Motor Co. (7201 JT): Japan’s third-biggest carmaker by market value said its U.S. vehicle sales rose 19 percent in August. The average estimate of analysts surveyed by Bloomberg was for a gain of 18 percent, according to an e-mailed statement. The stock gained 2.6 percent to 715 yen.

Sharp Corp. (6753 JT): The Japanese electronics maker, LG Electronics Inc. (066570 KS) and Royal Philips Electronics NV will jointly develop software for internet-capable televisions, LG said. Also, Sharp won’t sell its liquid-crystal display business as wider uses for the equipment will make up for an increase in competition, the head of the company’s European business said. Sharp increased 1 percent to 636 yen.

Tokyo Electron Ltd. (8035) (8035 JT): United Microelectronics Corp. (2303 TT) bought NT$560 million of equipment from Tokyo Electron from Aug. 4 to Sept. 1, the Taiwan-based chipmaker said. Tokyo Electron gained 1.9 percent to 3,725 yen.

Toyota Motor Corp. (7203) (7203 JT): The world’s biggest carmaker said it is looking into Chinese government claims that some models had broken or malfunctioning parts and caused accidents. The stock increased 0.7 percent to 2,754 yen.

Unicharm Corp. (8113) (8113 JT): The diaper maker may buy back about 8 billion yen in stocks this fiscal year, the Nikkei newspaper reported. Stock buybacks prepare for acquisitions as the company expands in Asia, the report said. The stock slid 1.9 percent to 3,550 yen.

To contact the reporter on this story: Anna Kitanaka in Tokyo at akitanaka@bloomberg.net.

To contact the editor responsible for this story: Nick Gentle at ngentle2@bloomberg.net

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