AOC, Bridgestone, Honda, Olympus, Toyota: Japan Stocks 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.

AOC Holdings Inc. (5017) (5017 JT): The oil and gas explorer had a net loss of 1.4 billion yen ($18 million) in the six months ended Sept. 30 due to losses from foreign exchanges and devalued inventories, according to a preliminary earnings statement. The company had forecast a 2 billion yen profit. The stock sank 3.4 percent to 453 yen.

Bridgestone Corp. (5108) (5108 JT): Japan’s biggest tiremaker by revenue said net income rose 23 percent to 82 billion yen in the nine months ended Sept. 30. The stock fell 0.8 percent to 1,850 yen.

Citizen Holdings Co. (7762 JT): The watchmaker said net income rose 20 percent to 4.43 billion yen in the six months ended Sept. 30. The stock declined 2.7 percent to 394 yen.

Daikin Industries Ltd. (6367) (6367 JT): The maker of air- conditioning equipment raised its full-year net income outlook 12 percent to 46 billion yen, citing “favorable” sales in Japan and China and cost cuts. The stock lost 1.3 percent to 2,309 yen.

Disco Corp. (6146) (6146 JT): The maker of chip-manufacturing equipment slashed its full-year net income forecast 31 percent to 6.3 billion yen and lowered its planned full-year dividend to 39 yen per share from 55 yen. The stock slumped 3.4 percent to 4,125 yen.

Fukuyama Transporting Co. (9075 JT): The transportation company said it will buy back up to 1.22 percent of its total shares. Also, the company boosted its full-year net income projection 22 percent to 12.8 billion yen. The stock advanced 2 percent to 407 yen.

Hikari Tsushin Inc. (9435) (9435 JT): The mobile- telecommunication-subscription agency’s net income in the six months ended Sept. 30 amounted to 3.9 billion yen, beating its outlook by 56 percent on higher-than-expected sales, according to a preliminary earnings statement. The stock slid 2.4 percent to 1,731 yen.

Honda Motor Co. (7267 JT): A carmaker that has abandoned full-year profit forecasts due to floods in Thailand said plants in North America are exceeding production plans announced last week. The stock lost 2.5 percent to 2,312 yen.

LEC Inc. (7874) (7874 JT): The maker of household goods plans to raise as much as 1.55 billion yen by selling shares to the public, according to a filing with Japan’s finance ministry. The stock dropped 1.2 percent to 1,440 yen.

Mitsubishi Materials Corp. (5711) (5711 JT): The non-ferrous metal maker said net income in the six months ended September beat its forecast by 59 percent on high copper prices and demand for auto-related products. Net income totaled 22.3 billion yen, compared with a forecast of 14 billion yen, according to a statement. The stock fell 3.4 percent to 198 yen.

Mitsubishi UFJ Financial Group Inc. (8306) (8306 JT): Bank of Tokyo-Mitsubishi UFJ Ltd. will be the first Japanese lender to serve as an intermediary to financial institutions seeking to borrow money using Japanese government bonds as collateral, the Nikkei newspaper reported. Mitsubishi UFJ lost 2.3 percent to 334 yen.

Nomura Holdings Inc. (8604) (8604 JT): Japan’s biggest securities firm is unaware of any involvement in Olympus Corp. (7733)’s concealment of losses, said Hajime Ikeda, managing director of corporate communications for Nomura. The stock tumbled 15 percent to 245 yen.

Olympus Corp. (7733 JT): The Tokyo Prosecutor’s Office is investigating Olympus on suspicion the company broke securities laws, a senior official from the department said, speaking on condition he not be identified ahead of an official announcement. The Tokyo Stock Exchange Group Inc. said, Japan Securities Finance Co., a provider of loans and lending services, will restrict short-selling of the shares. Also, Olympus hidden losses related to investments made in 1990s peaked at more than 100 billion yen, the Nikkei newspaper reported, citing people familiar with a third-party investigation. Olympus plunged 29 percent to 734 yen.

Rakuten Inc. (4755) (4755 JQ): The operator of online shopping websites said it will acquire Kobo Inc., an e-book provider based in Toronto. Rakuten will spend about $315 million to acquire all shares in Kobo. Rakuten increased 0.6 percent to 90,000 yen.

Softbank Corp. (9984) (9984 JT): Japan’s third-largest wireless carrier and Alibaba Group Holding Ltd. (ALIBABZ CH) are talking with private-equity funds about making a bid for all of Yahoo! Inc. (YHOO US) without the company’s blessing, people with knowledge of the matter said. Softbank slid 1.2 percent to 2,538 yen.

Sumitomo Metal Mining Co. (5713 JT): Japan’s second-largest copper smelter cut its full-year net income outlook by 21 percent to 67 billion yen. The stock sank 2.1 percent to 1,034 yen.

TonenGeneral Sekiyu K.K. (5012 JT): The unit of Exxon Mobil Corp. (XOM US) will shut an oil refinery in west Japan for two weeks from Nov. 9, a fire department official said. The 156,000 barrel-a-day plant in the city of Sakai is being shuttered for inspection, Kenichi Okumura, a fire department safety officer who was briefed on the refiner’s plan, said by phone. The stock fell 0.9 percent to 898 yen.

Toppan Printing Co. (7911 JT): The printing company said first-half net income plunged 45 percent to 2.77 billion yen. The stock slipped 0.2 percent to 572 yen.

Toyota Motor Corp. (7203) (7203 J): Asia’s biggest carmaker scrapped its full-year profit forecast after Thailand’s worst floods in almost 70 years and the appreciating yen hampered the company’s ability to recover from Japan’s record earthquake. The stock lost 1.7 percent to 2,503 yen.

USS Co. (4732 JT): The manager of used-car auctions said it will spend as much as 6.8 billion yen to repurchase up to 3.58 percent of its outstanding shares. Also, the company lifted its full-year net income outlook 1.6 percent to 15.9 billion yen. The stock was unchanged at 6,510 yen.

Yokogawa Electric Corp. (6841) (6841 JT): The maker of electronic measuring tools boosted its full-year net income forecast 20 percent to 6 billion yen. The stock dropped 0.7 percent to 711 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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