Oct. 26 (Bloomberg) -- 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.
Canon Inc. (7751 JT): The world’s largest camera maker cut its annual profit forecast, citing weakening economies and floods in Thailand that hurt production. Full year net income may be 230 billion yen ($3 billion) compared with a previous forecast for 260 billion yen, Canon said in a statement. The company also reduced its sales and operating profit forecasts. The stock lost 1.8 percent to 3,490 yen.
Clarion Co. (6796 JT): The car audio equipment maker’s net income in the six months ended Sept. 30 was about 1.7 billion yen, compared with its loss forecast of 200 million yen, on lower fixed costs, according to a preliminary earnings statement. The stock was unchanged at 133 yen.
Hitachi Ltd. (6501 JT): The maker of products from electronics to nuclear reactors probably had first-half operating profit of more than 150 billion yen, beating its 100 billion yen outlook, because of a shift to construction machinery from flat-panel TV and semiconductor operations, the Nikkei newspaper reported. The stock declined 1.5 percent to 409 yen.
Hitachi Chemical Co. (4217 JT): The maker of chemical products cut its full-year net income projection 26 percent to 17 billion yen. The stock declined 1.2 percent to 1,386 yen.
Hitachi Construction Machinery Co. (6305 JT): The world’s largest maker of giant excavators said first-half net income jumped 77 percent to 5.48 billion yen, citing growing demand for construction machinery in Asian countries excluding China. The stock climbed 2.7 percent to 1,433 yen.
Kao Corp. (4452 JT): The household products maker may consider acquiring European and U.S. companies involved in the beauty-care market, President Motoki Ozaki told reporters in Tokyo. Kao said first-half net income rose 10 percent to 30.7 billion yen. The result was less than the company’s estimate of 32 billion yen. The stock slipped 0.8 percent to 2,126 yen.
Mitsubishi UFJ Financial Group Inc. (8306 JT): The lender may say it expects net income of 900 billion yen for the year through March 31, 2012, the Asahi newspaper reported, without saying where it obtained the information. The company had forecast a profit of 600 billion yen. The stock slid 1.2 percent to 334 yen.
Mitsui Engineering & Shipbuilding Co. (7003 JT): The ship engine maker’s first-half net income was 7 billion yen, beating its 5 billion yen outlook, according to a preliminary earnings statement. The stock dropped 1.6 percent to 125 yen.
Nidec Corp. (6594 JO): The world’s biggest maker of motors for hard-disk drives said operating profit in the six months ended Sept. 30 fell 24 percent to 39.5 billion yen. The result was 6.9 percent more than the company’s outlook of 37 billion yen. The stock declined 1 percent to 6,100 yen.
Nissan Motor Co. (7201 JT): The automaker aims to sell more cars in Europe than Toyota Motor Corp. (7203 JT) and Hyundai Motor Co. (005380 KS) by 2016, to become the largest Asian automaker in the region, the Financial Times Deutschland reported, citing an interview with Paul Wilcox, Nissan’s chief in Europe. Nissan slid 1 percent to 691 yen. Toyota dropped 1.7 percent to 2,536 yen.
Nippon Telegraph & Telephone Corp. (9432 JT): NTT Communications Corp., the international and long-distance service arm of the phone company, will spend 120 billion yen on the cloud computing business, the Nikkei newspaper reported. The four-year overseas spending plan through fiscal 2015 is a 20 percent increase from the previous four-year program, the report said. NTT was unchanged at 3,825 yen.
Olympus Corp. (7733 JT), Chairman and President Tsuyoshi Kikukawa said the company didn’t commit any wrongdoing and that the past acquisition reported in the media was conducted through proper procedures, according to a statement on the company’s website. Separately, the Financial Times reported Japanese regulators have been urged by the head of ruling Democratic party’s financial affairs committee to probe Olympus over payments linked to acquisitions. The stock surged 8.2 percent to 1,189 yen.
Panasonic Corp. (6752 JT): The electronics maker will start making displays for smaller devices at a television panel plant following a decline in demand for larger displays, the Nikkei newspaper reported. The stock slipped 0.4 percent to 781 yen.
Poletowin Pitcrew Holdings Inc. (3657 JT): The provider of video game testing services will start trading on the Tokyo Stock Exchange’s Mothers market. The initial offering price was 2,250 yen per share.
Takara Bio Inc. (4974 JT): The biopharmaceutical company’s net income in the six months ended Sept. 30 amounted to 223 million yen, beating its projection on lower costs for research, development and promotions, according to a preliminary earnings statement. The company had forecast 90 million yen profit in the period. The stock dropped 1.7 percent to 412 yen.
Takara Holdings Inc. (2531 JT): First-half net income at the maker of distilled spirits totaled 900 million yen, beating its outlook by 29 percent, according to a preliminary earnings statement. The stock slid 1.9 percent to 459 yen.
Tokyo Electric Power Co. (9501 JT): The utility known as Tepco will sell a 20 percent stake in Eurus Energy Holdings Corp. to Toyota Tsusho Corp. (8015 JT), according to a statement from the utility that didn’t give financial terms. Tokyo Electric currently owns 60 percent of the wind power firm with Toyota Tsusho holding the rest, according to Eurus Energy’s website. Tepco surged 11 percent to 315 yen. Toyota Tsusho slipped 1.9 percent to 1,288 yen.
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