Anicom Holdings, Ito En, Toyota, Yahoo: Japanese Stocks Preview
The following companies may have unusual price changes in 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.
Anicom Holdings Inc. (8715) (8715 JT): Sony Assurance Inc. bought 6.5 percent of the pet health insurer. The insurer also plans to acquire options that could raise its stake to 7.2 percent. Anicom dropped 0.5 percent to 637 yen.
Ito En Ltd. (2593) (2593 JT): The tea company said net income fell 1.3 percent to about 7 billion yen ($86 million) for the nine months through January, citing pressure to lower prices. Ito En forecast net income of 8 billion yen for the year ending April 30. The stock rose 0.9 percent to 1,362 yen.
Nissan Motor Co. (7201) (7201 JT): Japan’s third-largest carmaker by market value will introduce cars priced around 500,000 yen, the Nikkei newspaper said, without citing anyone. Nissan will sell the low-priced cars, which will initially be built and sold in India, Russia and Indonesia, under the Datsun brand name, the report said. The stock fell 0.6 percent to 827 yen.
Tokyo Electric Power Co. (9501) (9501 JT): The utility plans to keep higher electricity rates for three years, the Yomiuri newspaper reported without saying where it got the information. Separately, the company, known as TEPCO, plans to cut more than 3 trillion yen in costs over 10 years, the Kyodo news reported citing people close to the utility. The stock added 0.9 percent to 227 yen.
Toyota Motor Corp. (7203) (7203 JT): Asia’s biggest carmaker plans to manufacture key parts for hybrid vehicles in China next year, Beijing Times reported, citing Tadashi Yamashina, general manager of Toyota’s China R&D center. The stock dropped 0.6 percent to 3,335 yen.
Yahoo Japan Corp. (4689) (4689 JT): The Internet company named Manabu Miyasaka as president and chief executive officer to replace Masahiro Inoue, who is stepping down in June, according to a statement. The stock slid 0.5 percent to 25,570 yen.
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