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Daiwa, Isuzu, Ricoh, Sumitomo Mitsui: Japan Stocks Preview

The following companies may have unusual price changes in Japanese trading on October 31. 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.

All Nippon Airways Co. (9202 JT): Japan’s largest-listed carrier, said net income in the six months ended Sept. 30 jumped 72 percent to 22.9 billion yen ($301 million). The airline cut its full-year sales forecast about 1 percent. All Nippon also said it aims to deepen planned cost cuts this fiscal year by 1 billion yen to compensate for an expected decline in sales. The stock rose 0.4 percent to 237 yen.

Astellas Pharma Inc. (4503) (4503 JT): Net income at the drugmaker in the six months ended Sept. 30 amounted to 51.3 billion yen, beating its outlook by 32 percent, on growing revenue from its immunosuppressants in Europe and from bladder drugs globally, according to a preliminary earnings statement, The stock gained 2.2 percent to 2,903 yen.

Chubu Electric Power Co. (9502 JT): The utility swung to a net loss of 19 billion yen in the six months ended Sept. 30 from a year-earlier gain, narrower than its loss estimate of 22 billion yen thanks to lower fuel and repair costs, the company said in a release. The stock slipped 1.2 percent to 1,431 yen.

Daio Paper Corp. (3880) (3880 JT): The papermaker plans to file a criminal complaint against former chairman Mototaka Ikawa after an investigation revealed the executive received 10.7 billion yen in loans from subsidiaries, according to a statement from the company. The stock climbed 1.3 percent to 610 yen.

Daiwa Securities Group Inc. (8601) (8601 JT): Japan’s second- largest brokerage posted a third straight quarterly loss and said it will cut more than 300 jobs overseas as trading and investment banking income declined. The loss widened to 19.4 billion yen in the three months ended Sept. 30 from 4.2 billion yen a year earlier, Daiwa said in a statement. The stock fell 1 percent to 286 yen.

Isuzu Motors Ltd. (7202) (7202 JT): The automaker said profit in the six months ended September beat its forecast by 44 percent after the company cut costs. Net income totaled 33 billion yen, compared with a forecast of 23 billion yen, according to a preliminary earnings statement. The stock advanced 1.6 percent to 328 yen.

Konica Minolta Holdings Inc. (4902) (4902 JT): The maker of film used in liquid-crystal displays cut its full-year net income outlook by 5 percent to 19 billion yen because the yen has been stronger than forecast. The stock fell 0.7 percent to 557 yen.

NGK Insulators Ltd. (5333) (5333 JT): The maker of electrical insulators and industrial ceramic products declined to offer a net income forecast for the full year because of uncertainty about costs stemming from accidents attributed to some of the batteries it produces. The company lowered its operating profit projection 20 percent to 24 billion yen for the fiscal year ending March. The stock rose 2.6 percent to 979 yen.

Nippon Express Co. (9062 JT): Operating profit at the trucking company likely fell 10 percent to about 13.5 billion yen in the six months ended September as domestic demand for freight transport slumped after the March 11 earthquake, the Nikkei newspaper reported. Net income probably exceeded 9 billion yen for the period, beating the company’s 8 billion yen projection, as a change in accounting methods reduced one-time charges, the report said. The stock lost 1.3 percent to 310 yen.

Oji Paper Co. (3861 JT): The paper maker will probably report operating profit beat its estimate, rising 4 percent from a year earlier to about 32 billion yen in the six months ended September, the Nikkei newspaper said, without disclosing the source of the information. The yen’s appreciation reduced import costs, offsetting expenses for rising raw materials prices, Nikkei said. The stock slid 1 percent to 398 yen.

Orient Corp. (8585) (8585 JT), Ohtori Corp. (3411) (3411 JO): Orient, a consumer credit company, offered to pay as much as 1.3 billion yen to buy out Ohtori through a tender offer. Orient gained 2.6 percent to 78 yen. Ohtori, an outsourcing service provider for a credit card company, dropped 2.9 percent to 34 yen.

Ricoh Co. (7752 JT): The office-equipment and camera maker slashed its full-year net income outlook 55 percent to 10 billion yen, citing costs from the company reorganization, earthquake and foreign exchange. The stock sank 1.7 percent to 681 yen.

Sanrio Co. (8136 JT): The maker of Hello Kitty character goods boosted its net income forecast 9.2 percent to 13 billion yen in the fiscal year ending March 31. Also, the company increased its planned second-half dividend to 20 yen from 15 yen. The stock fell 2.1 percent to 3,735 yen.

Seiko Epson Corp. (6724) (6724 JT): The maker of electronic devices slashed its full-year net income forecast 41 percent to 10 billion yen. The stock slumped 4.2 percent to 1,065 yen.

Sumitomo Electric Industries Ltd. (5802) (5802 JT): The wire maker said net income in the six months ended Sept. 30 fell 54 percent to 19.1 billion yen. The result was 47 percent more than the company’s profit estimate due to a demand recovery from car- related companies, Sumitomo Electric said in a release. The stock rose 0.7 percent to 887 yen.

Sumitomo Mitsui Financial Group Inc. (8316) (8316 JT): Japan’s second-largest bank by market value said in a preliminary earnings statement that net income totaled 310 billion yen in the fiscal first half, more than its forecast of 170 billion yen, aided by lower bad loan costs. The stock climbed 0.9 percent to 2,253 yen.

Tokyo Electron Ltd. (8035) (8035 JT): The world’s second-largest maker of semiconductor equipment boosted its full-year net income projection 18 percent to 40 billion yen, citing cost cuts. The stock advanced 1.8 percent to 4,360 yen.

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

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

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