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.
All Nippon Airways Co. (9202 JT): Asia’s largest listed carrier by sales said it plans to slash costs by 100 billion yen ($1.3 billion) as it gears up for rising competition. The carrier also plans to boost international capacity by 22 percent in the two years from April 1, according to a statement. The stock advanced 2 percent to 251 yen.
Dentsu Inc. (4324) (4324 JT): Japan’s biggest advertising company said it will terminate an alliance with Publicis Groupe SA, selling the French company’s shares for 644.4 million euros ($847 million). Dentsu gained 1.5 percent to 2,438 yen.
Hokkaido Electric Power Co. (9509 JT): The utility halted a unit at a power plant to repair a seawater leak, according to the company’s website. The stock rose 0.6 percent to 1,240 yen.
Katakura Industries Co. (3001) (3001 JT): The manufacturer of underwear, stockings and pharmaceuticals said it expects a 49 percent fall in net income to 900 million yen this year. The company’s shares rose 1.4 percent to 746 yen.
Mitsubishi Corp. (8058) (8058 JT): The trading house agreed to pay C$1.45 billion ($1.46 billion) for a 40 percent stake in Encana Corp.’s (ECA CN) Cutbank Ridge, eight months after PetroChina Co. (857 HK) walked away from a deal for the natural-gas assets, according to a statement by Calgary-based Encana. Mitsubishi rose 2.6 Percent to 1,879 yen.
Morinaga Milk Industry Co. (2264 JT): The dairy company will cease production at factory in Hokkaido in April 2013, according to a statement. The stock added 0.7 percent to 297 yen.
Nidec Corp. (6594) (6594 JO): The maker of motors for hard-disk drives will invest as much as 300 billion yen to mass-produce automotive motors that don’t use rare earths, the Nikkan Kogyo newspaper reported, without saying where it got the information. The stock added 0.1 percent to 7,550 yen.
Nippon Telegraph & Telephone Corp. (9432) (9432 JT): The unit of NTT will cut rates by more than 10 percent next month, the Nikkei newspaper reported, without citing anyone. The NTT unit will lower fiber-optic fees below KDDI Corp. (9433)’s (9433 JT) rates, the report said. NTT slid 0.8 percent to 3,785 yen. KDDI rose 0.2 percent to 517,000 yen.
Okabe Co. (5959) (5959 JT): The maker of structural metal materials said net income fell 1.5 percent to 2.18 billion yen in the year ended Dec. 31, 13 percent short of its forecast of a 2.49 billion yen gain. Okabe said net income will rise 17 percent to 2.54 billion yen this year as sales rise. The stock climbed 0.7 percent to 417 yen.
Olympus Corp. (7733) (7733 JT): Prosecutors are considering an indictment against the camera maker for falsification of financial reports to conceal losses, Kyodo News reported, citing people involved in the investigation it didn’t identifiy. Olympus slid 1.1 percent to 1,259 yen.
Otsuka Kagu Ltd. (8186) (8186 JQ): The furniture retailer said it will buy back as much as 5 percent of its outstanding shares. It also expects net income to jump to 918 million yen this year from 203 million yen a year earlier. The stock rallied 5.1 percent to 805 yen.
Sumitomo Chemical Co. (4005 JT): The chemical maker and Saudi Arabian Oil Co. (131861Z AB) may postpone a $6 billion plan to expand their joint-venture petrochemical plant in the Red Sea town of Rabigh, HSBC Holdings Plc said. Sumitomo Chemical was unchanged at 329 yen.
U-Shin Ltd. (6985) (6985 JT): The autoparts maker may inspect and replace defective products it supplied, according to a statement. The stock jumped 5.7 percent to 626 yen.
Toyota Motor Corp. (7203) (7203 JT): Toyota Peugeot Citroen Automobile Czech, a venture formed by Toyota Motor and PSA Peugeot Citroen, plans to reduce production to four days a week as of May as demand for smaller cars in European markets declined, CTK news agency reported, citing the company. Toyota climbed 0.6 percent to 3,285 yen.
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