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Gulliver, Noritake, Point, Promise, T&D: 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.

Daiwa House Industry Co. (1925 JT): Eliiy Power Co., an affiliate of the builder, sold 10.6 billion yen ($137 million) of new shares to companies including Goldman Sachs Group Inc., Daiwa House, Inpex Corp. and others to construct a lithium-ion battery plant in Kawasaki, near Tokyo, at a cost of 15 billion yen, according to a statement on its website. The stock fell 0.6 percent to 1,004 yen.

Gulliver International Co. (7599 JT): The used-car retailer said net income fell 20 percent to 3.01 billion yen in the six months ended Aug. 31, while first-half operating profit rose 26 percent to 4.67 billion yen. The stock slipped 1.7 percent to 3,410 yen.

Hitachi Ltd. (6501) (6501 JT): Hitachi-LG Data Storage Inc. agreed to plead guilty and pay a $21.1 million fine for bid-rigging and price-fixing involving optical disk drives, the U.S. Justice Department said. The stock fell 0.8 percent to 389 yen.

Hokkaido Electric Power Co. (9509 JT), Tohoku Electric Power Co. (9506 JT): The regional utilities will start testing expansion of wind-power generation in fiscal 2014 with Tokyo Electric Power Co., the Nikkei newspaper reported, citing the companies. Hokkaido rose 0.1 percent to 1,146 yen. Tohoku declined 0.3 percent to 1,080 yen.

Kewpie Corp. (2809) (2809 JT): The mayonnaise maker said net income fell 18 percent to 7.2 billion yen in the nine months ended Aug. 31, dragged down by an earthquake-related charge. The stock rose 0.9 percent to 1,125 yen.

Kirin Holdings Co. (2503 JT): The brewer seeking control of Schincariol Participacoes e Representacoes is offering at least 2 billion reais (82 billion yen) to buy out minority investors in the Brazilian beer company, said a person with knowledge of the deal. The stock climbed 1.8 percent to 1,017 yen.

Kyoei Steel Ltd. (5440) (5440 JT): The maker of specialty steel products said in a preliminary earnings statement that net income totaled 400 million yen in the six months to Sept. 30, missing its profit outlook by 60 percent. The March earthquake eroded demand for steel and sent prices down, the release said. The stock dropped 0.7 percent to 1,309 yen.

Mitsui O.S.K. Lines Ltd. (9104 JT): The shipping line forecast a net loss for the six months ended September, citing the strong yen, a decline in shipping-freight fares, and an 8 billion yen securities valuation loss. It expects a net loss of 17 billion yen for the period, down from a previous projection of 1 billion yen profit, according to a statement. The stock was unchanged at 300 yen.

Mizuho Financial Group Inc. (8411) (8411 JT): Mizuho Securities Co. (8606 JP) is expected to offer a voluntary retirement program this month, seeking to cut 300 jobs, 5 percent of its domestic workforce, the Nikkei newspaper reported. Mizuho was unchanged at 114 yen.

Nissan Motor Co. (7201 JT): The automaker and General Electric Co. said they signed a two-year research and development agreement to speed infrastructure improvements and spur electric car sales. The stock gained 0.4 percent to 693 yen.

Nomura Holdings Inc. (8604) (8604 JT): Japan’s largest brokerage agreed to buy the German operations of Delta Lloyd Groep NV as the Dutch insurer concentrates on Belgium and the Netherlands. The stock fell 1 percent to 286 yen.

Noritake Co. (5331 JT): The maker of ceramic tableware cut its full-year net income outlook 13 percent to 4.7 billion yen, saying production cutbacks by electronic materials manufacturers and the stronger yen will likely decrease sales and earnings of its ceramic materials division and subsidiary KCM Corp. (1702) (1702 JT). Noritake slid 0.4 percent to 277 yen. KCM last traded at 317 on Sept. 29.

Point Inc. (2685) (2685 JT): The apparel chain said net income fell 25 percent to 2.4 billion yen in the six months ended Aug. 31, dragged down by higher personnel and advertizing costs as well as earthquake-related charges. The stock slid 1.8 percent to 3,930 yen.

Promise Co. (8574 JT), Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Sumitomo Mitsui offered to pay as much as 88.8 billion yen to buy out Promise shareholders. The Japanese lender is offering 780 yen for each Promise share, according to a statement. Promise surged 18 percent to 659 yen. Sumitomo Mitsui dropped 0.6 percent to 2,206 yen.

T&D Holdings Inc. (8795) (8795 JT): The life insurer said it will spend as much as 5 billion yen to buy back up to 1 percent of its outstanding shares. The stock fell 0.7 percent to 737 yen.

Tokyo Broadcasting System Holdings Inc. (9401) (9401 JT), DeNA Co. (2432 JT): The broadcaster is in talks over a sale of its Yokohama BayStars baseball team, with potential buyers including social media site operator DeNA, the Asahi newspaper reported, citing an unidentified person. TBS rose 0.5 percent to 958 yen. DeNA fell 2.4 percent to 3,270 yen.

Tokyo Electric Power Co. (9501 JT): Plutonium was detected at six locations in Japan’s Fukushima prefecture within a 45 kilometer radius of the utility’s crippled nuclear power plant, Kyodo News reported, citing the science ministry. This is the first time the toxic substance has been detected outside the immediate confines of the plant. The stock gained 4.4 percent to 240 yen.

To contact the reporter on this story: Norie Kuboyama in Tokyo at nkuboyama@bloomberg.net

To contact the editor responsible for this story: John McCluskey at j.mccluskey@bloomberg.net

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