DeNA, Honda, Inpex, Mitsubishi Corp: Japan Stocks Preview
Stock Chart for Honda Motor Co Ltd (7267)
The following companies may have unusual price changes in Japanese trading today. Japanese markets were closed today for a national holiday. Stock symbols are in parentheses, and share prices (MXAP) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
DeNA Co. (2432 JT): Baseball team owners approved DeNA Co.’s takeover of the Yokohama BayStars baseball team, Chairman Makoto Haruta told reporters today in Tokyo.
The social-network website operator last month agreed to acquire a majority stake in the team from Tokyo Broadcasting System Holdings Inc. DeNA fell 1.2 percent to 2,330 yen.
Honda Motor Co. (7267 JT): Japan’s second largest carmaker by market value, reported its U.S. sales unexpectedly dropped 6.4 percent in November. The automaker cited reduced production at North American plants resulting from floods in Thailand that disrupted parts supply. Analysts expected Honda to report a 2.6 percent increase, according to the average of five estimates. The stock rose 4 percent to 2,484 yen.
Inpex Corp. (1605 JT): Total SA’s Chief Executive Officer Christophe de Margerie will be in Japan today for talks with Inpex, Japan’s No. 1 energy explorer, about an investment in the Ichthys LNG field in Australia, the Nikkei newspaper reported. The companies are expected to reach an agreement by year-end, the Nikkei reported, citing an interview with de Margerie. The stock gained 2.8 percent to 518,000 yen.
Kumiai Chemical Industry Co. Ltd. (4996 JT): Net income at the agrochemical manufacturer rose to 1.3 billion yen ($17 million) in the year ended Oct. 31, beating a forecast of 900 million yen, according to a preliminary earnings statement to the Tokyo Stock Exchange. An increase in herbicide sales contributed to the result, the company said. The stock rose 5.4 percent to 275 yen.
Mitsubishi Corp. (8058 JT): The Japanese trading company will buy 50 percent of an undersea cable operator with assets of 13 billion yen from Macquarie Group Ltd. (MQG AU) for an undisclosed price, the Nikkei newspaper reported. Mitsubishi plans to maintain and operate cables for 20-years in a 50-50 venture with Barclays Plc. (BARC LN). The cable firm handles power transmission from a wind farm off Lancaster, England, the report said. Mitsubishi advanced 4.7 percent to 1,624 yen.
Suzuki Motor Co. (7269 JT): Maruti Suzuki India Ltd.’s (MSIL IN) production is back to “near normal” and the company’s plant at Gurgaon is operating at full capacity, Chairman R.C. Bhargava said in New Delhi. The stock added 1.9 percent to 1,638 yen.
Tokyo Electric Power Co. (9501 JT): The utility halted the No. 4 unit at its Kashima thermal power plant in Ibaraki prefecture, near Tokyo, on Nov. 29 due to a leak of boiler steam, according to a statement on the its website. The stock was unchanged at 284 yen.
Toyota Motor Corp. (7203 JT): Bayerische Motoren Werke AG, the world’s largest maker of luxury vehicles, will supply Toyota with diesel engines under a partnership agreement signed by the two companies. BMW will supply Toyota, Asia’s biggest carmaker, with 1.6-liter and 2-liter engines for the Japanese company’s models in Europe starting in 2014, the two automakers said in a joint statement released in Tokyo. Toyota rose 2.3 percent to 2,567 yen.
Zappallas Inc. (3770 JT): The producer of Internet content for mobile phone users reported net income for the six months ended Oct. 31 was 833 million yen, down from 973 million yen a year earlier, according to a statement to the Tokyo Stock Exchange. The stock rose 4.4 percent t0 716,000 yen.
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