Apollo Tyres, Funai, Iida Home, Legs Co., NTPC: Asia Stocks Preview
The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices (NKY) are as of the latest close. The information in each item was released after markets shut unless stated otherwise.
Apollo Tyres Ltd. (APTY) : Apollo Tyres South Africa, the Indian company’s unit, agreed to pay a penalty of 45 million rand and admitted it was involved in price-fixing conduct, the Competition Commission said in an e-mailed statement today. The stock slid 1.1 percent to 60.25 rupees in Mumbai.
Funai Consulting Inc. (9757 JO): The financial consulting services company raised its full-year net-income forecast 42 percent to 1.15 billion yen ($15 million). It also lifted its planned second-half dividend to 14 yen from 13 yen per share, with a full-year payout of 24 yen. The stock was unchanged at 542 yen.
Ihara Chemical Industry Co. (4989) (4989 JT): The maker of organic chemical products forecast a 16 percent fall in first-half net income percent to 1.15 billion yen. Shares rose 2.1 percent to 289 yen.
Iida Home Max (8880) (8880 JT): The residential builder said net income in the six months ended Oct. 31 fell 13 percent to 3.62 billion yen, less than its forecast of 3.74 billion yen. Iida rose 1.3 percent to 610 yen.
Koito Manufacturing Co. (7276 JT): Panasonic Corp. (6752) (6752 JT) cut its stake in the lighting-equipment maker to 3.99 percent from 5.32 percent, according to a filing with Japan’s Finance Ministry. Koito rose 1.4 percent to 1,077 yen. Panasonic slipped 1.6 percent to 695 yen.
Legs Co. (4286 JQ): The producer of goods for sales incentives, including novelty items, announced a 2-1 stock split. Shares slipped 2.1 percent to 139,000 yen.
Mitsui High-Tec Inc. (6966) (6966 JT): The maker of machine parts said it expects a loss of 1.5 billion yen for the fiscal year ending Jan. 31, compared with its forecast for a 100 million-yen profit. The company cited slumping chip demand and charges related to Thai’s floods for the result. Mitsui also canceled its planned full-year dividend of 1.5 yen per share. The stock added 0.3 percent to 358 yen.
NTPC Ltd. (NTPC IN): India’s largest state power producer won a contract worth 430 million rupees from the Electricity Generation Co. of Bangladesh Ltd. for providing operation and maintenance services for a gas-based power plant located near Dhaka, according to a statement. NTPC shares rose 2 percent to 166.85 rupees.
Nexon Co. (3659 JT): The developer of online games such as “Dragon Nest” will debut on the Tokyo Stock Exchange on Dec. 14. The initial offering price was 1,300 yen per share.
Nippon Steel Corp. (5401) (5401 JT): Japan’s largest steelmaker halted its Kamaishi power plant in Iwate prefecture because of a problem with a system for supplying coal. The station provides electricity to Tohoku Electric Power Co. (9506 JT), which is not expecting a disruption to power supply, according to a statement from the utility. Nippon Steel lost 2 percent 194 yen. Tohoku Electric rose 0.5 percent to 777 yen.
PT Semen Gresik (SMGR IJ) (SMGR): Indonesia’s biggest cement maker expects to start operating its Tuban 4 plant in East Java province in February and the Tonasa 5 plant in South Sulawesi province in June, President Director Dwi Soetjipto said. The plants will help Semen Gresik lift sales to 22.5 million tons next year, Soetjipto said without providing a comparative figure. The shares rose 3.5 percent to 10,250 rupiah.
PT Astra International (ASII IJ) (ASII): Indonesia’s November local vehicle sales fell to 67,656 units from 86,346 units a month earlier and from 69,249 units a year earlier, Astra International said, citing data from the nation’s automotive industries association. Astra, Indonesia’s largest automotive retailer, was unchanged at 74,950 rupiah.
Yakuodo Co. (3385 JQ): The pharmacy store operator said it will conduct a 100-for-1 stock split, adopting the minimum trading of 100 shares. The stock climbed 3.1 percent to 134,700 yen.
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