Chubu Electric, Hitachi, Sony: Japan Stocks Preview

(Corrects company name to Chubu Electric in sixth item.)

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.

Chugoku Electric Power Co. (9504 JT): The power company’s biggest shareholder, an organization affiliated with Yamaguchi Prefecture, plans to sell about half of its stake to financial institutions, Kyodo News reported. The stake in the utility to be sold is valued at about 36 billion yen ($470 million), Kyodo reported. Chugoku said it is not the source of the report and has no disclosure to make at this time. The stock increased 0.4 percent to 1,310 yen.

Bic Camera Inc. (3048) (3048 JT): Net income at the consumer electronics retailer was 9.04 billion yen, beating the company’s profit forecast by 21 percent on lower administrative costs, according to a preliminary earnings statement. The stock rose 1.5 percent to 40,700 yen.

Chiyoda Co. (8185 JT): The specialty retailer boosted its full-year net-income projection by 17 percent to 3.24 billion yen on better-than-expected summer sales and a contribution from its Mac House Co. (7603 JQ) retailing unit, which raised its earnings forecast. Chiyoda gained 1.7 percent to 1,350 yen. Mac House added 1.3 percent to 304 yen.

G-mode Co. (2333 JQ), Gaia Holdings Corp. (3727 JT): Gaia plans to buy G-mode through a stock transaction. Gaia, which now holds 56.84 percent in the mobile game developer, will pay 49.5 shares for each G-mode share, after conducting a 100-for-1 stock split on Dec. 20, according to a statement. G-mode advanced 2.1 percent to 26,600 yen. Gaia slid 0.9 percent to 58,000 yen.

Heiwa Real Estate Co. (8803 JT): The developer’s net income was 1.1 billion yen in the six months ended Sept. 30, beating its outlook by 38 percent, according to a preliminary earnings statement. Higher condominium sales and lower repair and financial expenses contributed to the earnings, Heiwa Real Estate said in a release. The stock rose 1.8 percent to 166 yen.

Hitachi Ltd. (6501) (6501 JT): The maker of nuclear reactors settled a lawsuit with Chubu Electric Power Co. (9502 JT) over a claim by the utility relating to damage to turbines at its Hamaoka nuclear plant, Hitachi said in a statement. Hitachi rose 1.1 percent to 367 yen.

JM Technology Inc. (2423) (2423 JF), Mamezou OS Holdings Co. (3756 JT): Mamezou OS, a software developer, will bid for JM Technology, an engineering company, offering 70,000 yen a share, according to a statement. JM Technology last traded 30,500 yen. Mamezou rose 1.1 percent to 95,000 yen.

Miraca Holdings Inc. (4544) (4544 JT): Japan’s biggest provider of medical tests agreed to buy Texas-based Caris Life Sciences Inc.’s anatomic pathology business for $725 million, including the repayment of existing debt. Miraca plans to expand in the U.S. market, according to a statement. Miraca climbed 0.8 percent to 3,340 yen.

Mitsubishi Heavy Industries Ltd. (7011 JT): The heavy machinery maker has won a fertilizer plant order in Malaysia, jointly with companies in Malaysia and Indonesia, Mitsubishi Heavy said in a release on its Website. The stock advanced 1.6 percent to 312 yen.

Nippon Express Co. (9062 JT), Mitsui & Co. (8031 JT): The companies will form a business alliance on the international distribution operations, the Nikkei newspaper reported. Nippon Express will take advantage of Mitsui’s terminal at Haneda Airport, near Tokyo, while Mitsui will gain access to Nippon Express’s international network, the report said. Nippon Express rose 1 percent to 315 yen. Mitsui gained 2.2 percent to 1,049 yen.

OSG Corp. (6136) (6136 JT): The machine-tool maker’s net income advanced 44 percent to 4.14 billion yen in the nine months through August, buoyed by growing overseas sales. The company also said it will spend as much as 2.5 billion yen to buy back up to 3.47 percent of its total shares. The stock jumped 5.3 percent to 876 yen.

Round One Corp. (4680) (4680 JT): The operator of bowling-alleys and amusement facilities said sales increased 4.1 percent last month at 106 stores open for at least 12 months. The stock advanced 0.7 percent to 619 yen.

Ryohin Keikaku Co. (7453 JT): The operator of the Muji retail chain said net income in the six months ended Aug. 31 rose 27 percent to 4.22 billion yen. The stock gained 2.9 percent to 4,285 yen.

Sony Corp. (6758) (6758 JT): The electronics maker is getting closer to an agreement to buy Ericsson AB’s stake in their mobile-phone venture, the Wall Street Journal reported, citing people familiar with the matter. Sony jumped 4.7 percent to 1,470 yen.

Start Today Co. (3092 JT): The operator of clothing websites said sales at its e-commerce business totaled 5.76 billion yen in September, up 47 percent from a year earlier. The stock slumped 2.5 percent to 1,749 yen.

Ube Industries Ltd. (4208 JT): The chemical-products maker’s operating profit rose 32 percent to about 22 billion yen in the six months ended September, beating its 17 billion yen outlook, on higher demand of nylon materials used in car tires, the Nikkei newspaper reported. The stock rallied 5.5 percent to 248 yen.

Yonekyu Corp. (2290) (2290 JT): The maker of processed meat products said first-half net income advanced 46 percent to 739 yen. The company also said it will buy back up to 6.03 percent of its outstanding shares through Dec. 30. The stock advanced 3 percent to 587 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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