Hitachi, Idemitsu, Jardine Cycle: Asia Equity Preview

The following companies may have unusual price changes in Asian trading tomorrow. Stock symbols are in parentheses, and share prices are as of the last close. The information in each item was released after markets shut unless stated otherwise.

Retailers: Hong Kong’s retail sales growth jumped 24 percent in September from a year earlier. That compared with a 29 percent increase in August and the median 28.5 percent forecast of 10 economists in a Bloomberg News survey.

Sa Sa International Holdings Ltd. (178 HK), a cosmetics retailer, fell 2.3 percent to HK$4.60. Emperor Watch & Jewellery Ltd., (887 HK) a retailer which gets most of its revenue from Hong Kong, slid 3.1 percent to HK$1.26.

Hitachi Ltd. (6501 JT): The maker of products from electronics to nuclear reactors said first-half net income was 50.9 billion yen ($652 million), 68 percent lower than the same period a year earlier, still beating its forecast by 1.9 percent. The March earthquake and the yen’s appreciation hurt profit, according to the company’s report. The stock dipped 0.2 percent to 426 yen.

Hutchison Whampoa Ltd. (13 HK): An operator of retail chains controlled by billionaire Li Ka-shing said it’s not in discussions with the owners of Dublin-based Eircom Group Ltd. The Sunday Times reported Oct. 23 that Hutchison had talks with the senior lenders to Eircom and that the debt holders had talks with several potential buyers, without citing anyone. The stock declined 2.4 percent to HK$70.55.

Hyundai Motor Co. (005380 KS): South Korea’s largest automaker sold 364,809 vehicles in October, up 14 percent from a year earlier, according to a regulatory filing. The shares rose 2 percent to 231,500 won.

Havells India Ltd. (HAVL IN): India’s second-largest maker of electrical components expects revenue from consumer appliances, excluding fans, to reach 2 billion rupees ($41 million) in the year to March 31, Joint Managing Director Anil Gupta said on a conference call.

Idemitsu Kosan Co. (5019 JT): The petroleum refiner raised its net-income forecast 13 percent to 67.5 billion yen, as falling fuel prices cut its costs. The stock lost 0.7 percent to 7,370 yen.

Jardine Cycle & Carriage Ltd. (JCNC SP), a Singapore-based motor vehicle distributor that counts Indonesia as its biggest market, said third-quarter net income increased 28 percent from a year earlier to $289.6 million. The stock fell 1.2 percent to S$44.96.

Li & Fung Ltd. (494 HK): U.S. toys retailer Toys “R” Us Inc. said it bought a 70 percent stake in its licensed operations in Greater China and Southeast Asia from Li & Fung Ltd.’s closely held parent, with the ability to buy the remaining 30 percent of the venture. Li & Fung was unchanged at HK$15.20.

Nippon Paper Group Inc. (3893 JT): Japan’s second-biggest papermaker by revenue swung to a loss of 39.2 billion yen, three times the size it forecast, according to a preliminary earnings statement. Nippon Paper said it booked an investment loss for purchasing a Chinese company. The stock rose 0.2 percent to 1,808 yen.

Nomura Holdings Inc. (8604 JT): Japan’s largest brokerage said it swung to a first-half loss of 28.3 billion yen from a profit of 3.3 billion yen a year earlier as trading and investment income fell. The stock lost 3.3 percent to 294 yen.

NTT Data Corp. (9613 JT): The provider of network-system services said net income in the fiscal first half was 12.4 billion yen, rising 2.8 percent from a year earlier, as sales at subsidiaries climbed and costs fell. The stock declined 2.9 percent to 258,900 yen.

Olympus Corp. (7733 JT): The Japanese endoscope maker formed an independent committee, including former prosecutors, to investigate advisory fees paid in past acquisitions, according to a statement to the Tokyo Stock Exchange today. The company is facing scrutiny from shareholders over $687 million in fees paid in the $2 billion purchase of Gyrus Group Ltd. The stock fell 0.3 percent to 1,206 yen.

Showa Denko K.K. (4004 JT): The producer of chemical products reported net income of 17.5 billion yen in the nine months ended Sept. 30, soaring 86 percent from a year earlier as sales of petrochemical and electronic materials rose. The stock closed unchanged at 145 yen.

Shell Refining Co. (SHELL MK): The Malaysian unit of Royal Dutch Shell Plc said its third-quarter net loss widened to 134.1 million ringgit ($43 million) from 19.5 million ringgit a year earlier, according to a stock exchange filing. The stock fell 0.2 percent to 9.60 ringgit.

Samsung Heavy Industries Co. (010140 KS): The company posted a net income of 132 billion won ($118 million) in the third quarter, 53 percent lower than a year earlier, as it cut ship prices during the global recession. The shipbuilder lost 2.6 percent to 33,750 won.

Takasago International Corp. (4914 JT): The aroma chemicals maker raised its full-year net-income forecast 31 percent to 2.1 billion yen, saying the March earthquake affected earnings less than expected. The stock fell 1.9 percent to 363 yen.

Woori Finance Holdings Co. (053000 KS): The owner of South Korea’s second-largest bank said third-quarter profit rose 8.3 percent last quarter as provisions against bad loans dropped and lending margins widened. The shares slipped 1.8 percent to 10,650 won.

YTL Corp. (YTL MK): The Malaysian utilities, cement and property group spent 5.47 million ringgit buying back 3.6 million of its own shares, a stock exchange filing showed. YTL rose fell 2.7 percent to 1.45 ringgit.

(Corrects Li & Fung item in story that ran Nov. 1 to reflect purchase is from parent.)
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